One Liberty Properties Expands Portfolio with Industrial Property Acquisition, Secures Financing Through Combination of Mortgage and Credit Facility

One Liberty Properties (OLP) acquired a portfolio of ten industrial properties, totaling 637,633 square feet, for below replacement value. The portfolio is fully leased to six tenants at below market rates. OLP financed the acquisition through a $17 million mortgage and $30 million from a credit facility. The acquisition highlights strong operating margins but raises concerns with a high dividend payout ratio and ongoing debt issuance.