SOURCE: One Liberty Properties, Inc.

One Liberty Properties, Inc.

February 07, 2011 16:20 ET

One Liberty Properties, Inc. Announces Public Offering of Common Stock

GREAT NECK, NY--(Marketwire - February 7, 2011) - One Liberty Properties, Inc. (NYSE: OLP) today announced that it is offering 2,700,000 shares of its common stock in an underwritten public offering. The underwriter will have a 30-day option from the date of the offering to purchase up to an additional 405,000 shares from One Liberty. One Liberty intends to use the net proceeds from this offering to repay indebtedness and for general corporate purposes, including to fund the future acquisition of properties. 

Deutsche Bank Securities is acting as sole book-running manager for the offering.

The public offering may be made only by means of a base prospectus and related prospectus supplement, copies of which may be obtained, when available, from Deutsche Bank Securities Inc., Attention: Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, New Jersey, 07311-3988, telephone (800) 503-4611, or by e-mailing prospectus.cpdg@db.com.

The common stock will be offered pursuant to an effective registration statement filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About One Liberty Properties, Inc.

One Liberty is a self-administered and self-managed real estate investment trust organized in 1982. The primary business of One Liberty is to acquire, own and manage a geographically diversified portfolio of retail, industrial, office and other properties under long term leases. Substantially all of our leases are "net leases," under which the tenant is responsible for real estate taxes, insurance and ordinary maintenance and repairs.

Forward-Looking Statements

Certain information contained in this press release, together with other statements and information publicly disseminated by One Liberty is forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provision for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for the purpose of complying with these safe harbor provisions. Information regarding certain important factors that could cause actual outcomes or other events to differ materially from any such forward-looking statements in One Liberty's Preliminary Prospectus Supplement dated February 7, 2011 (and in particular, the section entitled "Risk Factors") and its Form 10-K for the year ended December 31, 2009, as amended, and in particular in the section entitled Item 1.A. Risk Factors. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could materially affect actual results, performance or achievements.

Contact Information

  • Contact
    One Liberty Properties, Inc.
    Investor Relations
    PHONE (516) 466-3100
    60 Cutter Mill Road, Suite 303
    Great Neck, New York