Real Estate Acquisitions (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of the Company's acquisitions of real estate

The following chart details the Company’s acquisitions of real estate during the nine months ended September 30, 2016 (amounts in thousands):

Description of Property	Date Acquired	Contract Purchase Price		Terms of Payment	Third Party Real Estate Acquisition Costs (a)
Multi-tenant industrial facility, Greenville, South Carolina (b)	March 30, 2016	$	8,100	All cash	$	81
Multi-tenant industrial facility, Greenville, South Carolina (b)	March 30, 2016	8,950		All cash	83
Toro distribution facility, El Paso, Texas (c)	June 3, 2016	23,695		All cash	65
4 Advanced Auto retail stores, Ohio (d)	June 16, 2016	6,523		Cash and $4,300 mortgage (d)	101
Land - The Briarbrook Village Apartments, Wheaton, Illinois (e)	August 2, 2016	10,530		All cash	—		(f)
Burlington Coat and Micro Center retail stores, St. Louis Park, Minnesota (g)	August 12, 2016	14,150		All cash	73
Land - The Vue Apartments, Beachwood, Ohio (e)	August 16, 2016	13,896		All cash	—		(h)
Famous Footwear distribution facility, Lebanon, Tennessee (i)	September 1, 2016	32,734		Cash and $21,288 mortgage (i)	193
Other costs (j)		—			14

Totals		$	118,578		$	610

(a)

Included as an expense in the accompanying consolidated statement of income.

(b)

These properties are adjacent to one another and are each net leased to three unrelated tenants pursuant to leases that expire between 2017 and 2021.

(c)

The property is net leased by a single tenant pursuant to two separate coterminous leases expiring in 2022.

(d)

The new mortgage debt, which was obtained simultaneously with the acquisition of these properties, bears interest at 3.24% per annum, matures July 2026, and is comprised of four individual and cross-collateralized loans. The properties are net leased by a single tenant pursuant to four separate leases, three of which expire in 2026 and one of which expires in 2025.

(e)

These properties are net leased to related entities through 2046. See Note 6.

(f)

Transaction costs aggregating $6 incurred with this asset acquisition were capitalized.

(g)

This property is net leased to two unrelated tenants pursuant to leases expiring between 2019 and 2020.

(h)

Transaction costs aggregating $5 incurred with this asset acquisition were capitalized.

(i)

The new mortgage debt, which was obtained simultaneously with the acquisition of the property, bears interest at 3.7% per annum and matures October 2031. The property is net leased by a single tenant through 2031.

(j)

Costs incurred for properties purchased in 2015 and transactions that were not consummated.

Schedule of allocation of purchase price for the company's acquisitions of real estate

The following chart provides the allocation of the purchase price for the Company’s acquisitions of real estate during the nine months ended September 30, 2016 (amounts in thousands):

					Building		Intangible Lease
Description of Property	Land		Building		Improvements		Asset		Liability			Total
Multi-tenant industrial facility, Greenville, South Carolina	$	693	$	6,718	$	175	$	514	$	—		$	8,100
Multi-tenant industrial facility, Greenville, South Carolina	528		7,893		181		441		(93		)	8,950
Toro distribution facility, El Paso, Texas	3,691		17,525		379		2,100		—			23,695
4 Advanced Auto retail stores, Ohio	653		5,012		189		912		(243		)	6,523
Land - The Briarbrook Village Apartments, Wheaton, Illinois (a)	10,536		—		—		—		—			10,536
Burlington Coat and Micro Center retail stores, St. Louis Park, Minnesota (b)	3,388		12,632		456		651		(2,977		)	14,150
Land - The Vue Apartments, Beachwood, Ohio (c)	13,901		—		—		—		—			13,901
Famous Footwear distribution facility, Lebanon, Tennessee (b)	2,094		29,436		603		3,576		(2,975		)	32,734

Totals	$	35,484	$	79,216	$	1,983	$	8,194	$	(6,288	)	$	118,589

(a)

Transaction costs aggregating $6 incurred with this asset acquisition were capitalized.

(b)

The Company is in the process of finalizing the purchase price allocation for this property; therefore, the allocation is preliminary and subject to change.

(c)

Transaction costs aggregating $5 incurred with this asset acquisition were capitalized.

Schedule of business acquisition pro forma information

	Nine Months Ended		Year Ended
	September 30, 2016		December 31, 2015
Pro forma revenues	$	55,519	$	73,037
Pro forma net income attributable to One Liberty Properties, Inc.	21,128		20,560

Pro forma weighted average number of common shares outstanding:
Basic	16,605		15,971
Diluted	16,722		16,079

Pro forma per common share attributable to common stockholders:
Basic	$	1.23	$	1.23
Diluted	$	1.22	$	1.23