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Liberty Property Trust
Client Description
Liberty Property Trust was a prominent real estate investment trust (REIT) focused on the development, ownership, and management of a substantial portfolio of high-quality industrial and office properties across the United States and the United Kingdom. Founded in 1972 and operating publicly until 2020, Liberty was recognized as a major player in commercial real estate, controlling approximately 99 million square feet of space across 560 properties.
The company's investment strategy centered primarily on two asset classes: distribution warehouses and light-manufacturing industrial facilities, as well as suburban office buildings and office parks. Liberty had a significant presence and long history of development in the Mid-Atlantic region, including locations in Virginia such as the Richmond and Herndon areas, making them a familiar name for regional contractors. Notable projects included major industrial developments and, uniquely, a 20% interest in Philadelphia’s landmark Comcast Technology Center.
In a major industry move, Liberty Property Trust was acquired by Prologis, Inc., the global leader in logistics real estate, in a $13 billion transaction that closed on February 4, 2020. This acquisition solidified Prologis's position by integrating Liberty's complementary logistics portfolio, including its substantial land bank for future development, while Prologis planned to dispose of Liberty’s non-strategic office assets.
The company's investment strategy centered primarily on two asset classes: distribution warehouses and light-manufacturing industrial facilities, as well as suburban office buildings and office parks. Liberty had a significant presence and long history of development in the Mid-Atlantic region, including locations in Virginia such as the Richmond and Herndon areas, making them a familiar name for regional contractors. Notable projects included major industrial developments and, uniquely, a 20% interest in Philadelphia’s landmark Comcast Technology Center.
In a major industry move, Liberty Property Trust was acquired by Prologis, Inc., the global leader in logistics real estate, in a $13 billion transaction that closed on February 4, 2020. This acquisition solidified Prologis's position by integrating Liberty's complementary logistics portfolio, including its substantial land bank for future development, while Prologis planned to dispose of Liberty’s non-strategic office assets.