UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of Report (Date of
earliest event reported) February 24, 2010
ONE
LIBERTY PROPERTIES, INC.
(Exact
name of Registrant as specified in charter)
Maryland
|
001-09279
|
13-3147497
|
(State or other
|
(Commission file No.)
|
(IRS Employer
|
jurisdiction of
|
|
I.D.
No.)
|
incorporation)
|
|
|
60 Cutter Mill Road, Suite
303, Great Neck, New York 11021
(Address
of principal executive
offices) (Zip
code)
Registrant's
telephone number, including area
code: 516-466-3100
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (see General Instruction
A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
On
February 24, 2010, a wholly-owned subsidiary of One Liberty Properties, Inc.,
purchased a retail shopping center located in Royersford, Pennsylvania,
consisting of approximately 194,000 square feet situated on approximately 33
acres for a purchase price of approximately $23.5 million. The
shopping center is primarily a collection of long-term ground
leases.
Approximately
$17.65 million of the purchase price was paid by the assumption of an existing
first mortgage encumbering the property, and the balance was paid in
cash. The acquisition completed an Internal Revenue Code Section 1031
tax-deferred exchange that began with the sale by a subsidiary of One Liberty
Properties, Inc. of a property in Hanover, Pennsylvania in October
2009.
Item
9.01. Financial Statements
and Exhibits.
|
99.1
|
Press
release issued by One Liberty Properties, Inc. on February 25,
2010.
|
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
ONE
LIBERTY PROPERTIES, INC.
|
|
|
|
|
Date:
February 25, 2010
|
By:
/s/ David W.
Kalish
|
|
David
W. Kalish
|
|
Senior
Vice President and
CFO
|