Dallas, Texas 08/05/2013 (Financialstrend) – Liberty Property Trust (NYSE:LRY), a real estate investment holding trust said its approval its acquirement of Cabot Industrial Value Fund III operating partnership for a total amount of $1.475 billion, this portfolio also includes assets in nationwide industrial markets, including Houston which is according to U.S. Securities and Exchange Commission filing No. 3 industrial market for Pa.-based Liberty, Malvern and the deal will include about 1.4 million local square feet and about $230 million of assumed outstanding mortgage debt.the consideration will be about $1.5 billion after including of acquisition related net transaction expenses and anticipated capital expenditures.
This deal is expected to get closed by October and it will increase the Liberty’s stand including 177 properties in 24 new and existing Liberty markets and by around 23 million square feet,. With these Portfolio Diversification and Strong Leasing Volumes Liberty Property Trust is Achieving FFO Growth, it was reported in its financial result that FFO was increased to $79.4 million, or $0.66 per diluted share compared to $73.8 million, or $0.63 per diluted share a year ago, Total operating revenue grew 8.3%, Net income during reported was $0.33 per diluted share compared to $0.29 per diluted share in the same period a year ago.
Shares of Liberty Property Trust (NYSE:LRY) grounded by 1.19% to close at $36.48 per share on Friday, with the opening price at $35.92 per share. The company had through the day had range in the intraday price of $35.85 to $36.48 per share. The 52 week low is at $33.03 and 52 week high is at $45.02 per share. The company has 121.87 million outstanding shares in the market, 102% institutional ownership of capital and $4.45 billion market capitalization. There were 17.76 million shares of trading in the company’s stock on Friday and the average volume is at 1.52 million shares per day.