XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Investment in Unconsolidated Joint Ventures | 3 Months Ended
--- | ---
Mar. 31, 2018
Investment in Unconsolidated Joint Ventures |
Investment in Unconsolidated Joint Ventures | Note 7 — Investment in Unconsolidated Joint Ventures At March 31, 2018 and December 31, 2017, the Company’s five unconsolidated joint ventures each owned and operated one property. The Company’s equity investment in such unconsolidated joint ventures at such dates totaled $10,921,000 and $10,723,000, respectively. The Company recorded equity in earnings of $195,000 and $245,000 for the three months ended March 31, 2018 and 2017, respectively. At March 31, 2018, MCB is the Company’s joint venture partner in one of these unconsolidated joint ventures in which the Company has an equity investment of $8,324,000. On April 5, 2018, an unconsolidated joint venture sold its building and a portion of its land, located in Savannah, Georgia for $2,600,000, net of closing costs. The Company anticipates its 50% share of the gain from this sale will be approximately $70,000, which will be recognized in the three months ending June 30, 2018. The unconsolidated joint venture retained approximately 5 acres of land at this property.

X
- Definition This item represents disclosure of information related to investments in unconsolidated joint ventures. + References No definition available. + Details
Name: | olp_InvestmentsInUnconsolidatedJointVentureTextBlock
Namespace Prefix: | olp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | olp_InvestmentsInUnconsolidatedJointVenturesAbstract
Namespace Prefix: | olp_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration