One Liberty Properties Inc

1Liberty is a self-administered and self-managed real estate investment trust (REIT) that acquires, owns, and manages a geographically diversified portfolio primarily consisting of industrial properties. As of December 31, 2025, the company owned 103 properties totaling approximately 11.8 million square feet across 30 states. The 2026 base rent for these properties is $82.7 million, with an occupancy rate of 98.5% based on square footage. The weighted average remaining term of the company's $522.5 million mortgage debt is 5.8 years, carrying a weighted average interest rate of 4.88%. The weighted average remaining term of the leases generating the 2026 base rent is 4.4 years. As of February 1, 2026, after acquiring ten industrial properties in January 2026, 1Liberty owns 113 properties with approximately 12.5 million square feet. This includes 79 industrial properties spanning approximately 11.0 million square feet. The company anticipates that its industrial properties will generate approximately 81.6% of its 2026 base rent. In 2025, 1Liberty acquired 13 industrial properties for a total purchase price of $188.8 million, which included $112.3 million in mortgage debt. These properties contribute $12.5 million, or 15.1%, to the company's 2026 base rent. In 2026, these properties are anticipated to generate $13.3 million in rental income (excluding tenant reimbursements), $8.4 million in depreciation and amortization expense, and $6.5 million in interest expense.