MALVERN, Pa., March 17, 2016 (GLOBE NEWSWIRE) — Consistent with Liberty’s publicly-stated intent to sell approximately $900 million to $1.2 billion of non-core suburban properties in 2016, we have entered into discussions with a potential purchaser for a large portfolio of suburban office assets. We have not entered into any binding sale agreement. We do not plan to comment further on these matters until and unless we reach such an agreement.
About Liberty Property Trust
Liberty Property Trust (NYSE:LPT) is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of superior office and industrial properties. Liberty’s 104 million square foot portfolio includes 691 properties which provide office, distribution and light manufacturing facilities to 1,600 tenants.
Forward Looking Statement
The statements in this release, as well as information included in oral statements, contain statements that are or will be forward-looking, such as statements relating to, the consummation of the potential disposition described above. These forward-looking statements generally are accompanied by words such as “believes,” “anticipates,” “expects,” “estimates,” “should,” “seeks,” “intends,” “proposed,” “planned,” “outlook” and “goal” or similar expressions. Although the company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, the company can give no assurance that its expectations will be achieved. As forward-looking statements, these statements involve important risks, uncertainties and other factors that could cause actual results to differ materially from the expected results and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of the company. The company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. These risks, uncertainties and other factors include, without limitation, uncertainties affecting real estate business generally (such as entry into new leases, renewals of leases and dependence on tenants’ business operations), risks relating to the integration of the operations of entities that we have acquired or may acquire, risks relating to financing arrangements and sales of securities, possible environmental liabilities, risks relating to leverage and debt service (including availability of financing terms acceptable to the company and sensitivity of the company’s operations and financing arrangements to fluctuations in interest rates), dependence on the primary markets in which the company’s properties are located, the existence of complex regulations relating to status as a REIT and the adverse consequences of the failure to qualify as a REIT, risks relating to litigation, including without limitation litigation involving entities that we have a acquired or may acquire, and the potential adverse impact of market interest rates on the market price for the company’s securities.
Inquiries: Jeanne LeonardLiberty Property Trust610.648.1704