Liberty Property Trust Rakes In $705M For 97 Properties

Law360, New York (November 8, 2013, 7:51 PM EST) -- Liberty Property Trust said Thursday that it had agreed to sell 97 properties totaling 6.6 million square feet of space and 159 acres of land for about $705 million.

The sale is part of Liberty's strategy to focus on industrial properties and comes almost two months after it bought a $1.48 billion portfolio from Cabot Properties Inc. that comprises 23 million square feet of industrial properties located across the U.S. and in Europe. Liberty funded the Cabot purchase with $834.1 million in proceeds from the sale...
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