XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Real Estate Acquisitions | 6 Months Ended
--- | ---
Jun. 30, 2018
Real Estate Acquisitions |
Real Estate Acquisitions | Note 4 — Real Estate Acquisitions The following chart details the Company’s acquisitions of real estate during the six months ended June 30, 2018 (amounts in thousands):
Description of Property |  | Date Acquired |  | Contract Purchase Price |  | Terms of Payment |  | Capitalized Third Party Real Estate Acquisition Costs |
Campania International/U.S. Tape industrial facility, |  |  |  |  |  |  |  |  |
Pennsburg, PA |  | March 28, 2018 |  | $ | 12,675 |  | All cash |  | $ | 227 |
Plymouth Industries, industrial facility, |  |  |  |  |  |  |  |  |
Plymouth, MN |  | June 7, 2018 |  | 5,500 |  | All cash |  | 50 |
Totals |  |  |  | $ | 18,175 |  |  |  | $ | 277 |
The Company determined that with respect to each of these acquisitions, the gross assets acquired are concentrated in a single identifiable asset. Therefore, these transactions do not meet the definition of a business and are accounted for as asset acquisitions. As such, direct transaction costs associated with these asset acquisitions have been capitalized to real estate assets and depreciated over their respective useful lives. The following chart details the allocation of the purchase price for the Company’s acquisitions of real estate during the six months ended June 30, 2018 (amounts in thousands):
|  |  |  |  |  | Building |  |  |
Description of Property |  | Land |  | Building |  | Improvements |  | Total |
Campania International/U.S. Tape industrial facility, |  |  |  |  |  |  |  |  |
Pennsburg, PA |  | $ | 1,776 |  | $ | 10,399 |  | $ | 727 |  | $ | 12,902 |
Plymouth Industries, industrial facility, |  |  |  |  |  |  |  |  |
Plymouth, MN |  | 1,121 |  | 4,306 |  | 123 |  | 5,550 |
Totals |  | $ | 2,897 |  | $ | 14,705 |  | $ | 850 |  | $ | 18,452 |

X
- Definition Real Estate Acquisitions and Contingent Liability + References No definition available. + Details
Name: | olp_RealEstateAcquisitionsAndContingentLiabilityDisclosureAbstract
Namespace Prefix: | olp_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure pertaining to real estate acquisitions. + References No definition available. + Details
Name: | olp_RealEstateAcquisitionsAndContingentLiabilityDisclosureTextBlock
Namespace Prefix: | olp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration