One Liberty repays $7.5 million balance on loan via asset sales

By Wendy Van Sickle

Columbus, Ohio, Dec. 21 – One Liberty Properties, Inc. paid down the $7.5 million balance outstanding on its credit facility as of Dec. 1 with some proceeds of some asset sales in the fourth quarter of 2023, according to a news release.

One Liberty said that it closed on the sale of three restaurant properties and two retail properties for an aggregate sales price of $23 million, and the sale of a multi-tenant shopping center in Manahawkin, N.J., owned by a joint venture in which the company has a 50% equity interest. That property was sold for $36.5 million, of which the company’s share was $18.2 million. After paying down its share of the mortgage debt, One Liberty received approximately $7.1 million.

The real estate investment trust is based in Great Neck, N.Y.

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