XML 47 R29.htm IDEA: XBRL DOCUMENT v3.19.3

Real Estate Acquisitions (Tables)

9 Months Ended

Sep. 30, 2019

Real Estate Acquisitions

Schedule of the Company's acquisitions of real estate

The charts below detail the Company’s acquisitions of real estate and the allocation of the purchase price during the nine months ended September 30, 2019 (amounts in thousands). 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.

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	Capitalized
​	​	​	​	​	​	​	​	​	Third Party
​	​	​	​	Contract		​	​	​	Real Estate
​	​	​	​	Purchase		​	Terms of	​	Acquisition
Description of Property		Date Acquired		Price			Payment		Costs
Zwanenberg Food Group/Metro Carpets industrial facility,	​	​	​	​	​	​	​	​	​	​
Nashville, Tennessee	​	May 30, 2019	​	$	8,000		All cash (a)	​	$	77
Echo, Inc. industrial facility,	​	​	​	​	​	​	​	​	​	​
Wauconda, Illinois	​	May 30, 2019	​	​	3,800	​	All cash		​	26
Tinicum Mechanical Supply/Philly Motors industrial facility,	​	​	​	​	​	​	​	​	​	​
Bensalem, Pennsylvania	​	June 18, 2019	​	​	6,200	​	All cash (b)		​	168
International Flora Technologies industrial facility,	​	​	​	​	​	​	​	​	​	​
Chandler, Arizona	​	June 26, 2019	​		8,650		All cash (c)			57
Nissan North America industrial facility,	​	​	​	​	​	​	​	​	​	​
LaGrange, Georgia	​	July 24, 2019	​	​	5,200	​	All cash (d)	​	​	73
Continental Hydraulics industrial facility,	​	​	​	​	​	​	​	​	​	​
Shakopee, Minnesota	​	September 13, 2019	​	​	8,000	​	All cash	​	​	55
Totals	​		​	$	39,850			​	$	456

(a) In July 2019, the Company obtained new mortgage debt of $5,200 which bears interest at 3.95% and matures August 2029.

(b) In September 2019, the Company obtained new mortgage debt of $4,075 which bears interest at 4.05% and matures October 2029.

(c) In October 2019, the Company obtained new mortgage debt of $5,200 which bears interest at 4.10% and matures November 2030.

(d) In October 2019, the Company obtained new mortgage debt of $3,200 which bears interest at 4.00% and matures December 2028.

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

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Building &

​

Intangible Lease

​

​

​

Description of Property

Land

Improvements

Asset

Liability

Total

Zwanenberg Food Group/Metro Carpets industrial facility,

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Nashville, Tennessee

​

$

1,058

​

$

6,350

​

$

750

​

$

(81)

​

$

8,077

Echo, Inc. industrial facility,

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Wauconda, Illinois

​

67

​

3,424

​

339

​

(4)

​

3,826

Tinicum Mechanical Supply/Philly Motors industrial facility,

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Bensalem, Pennsylvania

​

​

1,602

​

​

4,322

​

664

​

(220)

​

​

6,368

International Flora Technologies industrial facility,

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Chandler, Arizona

​

​

1,334

​

​

7,373

​

—

​

—

​

​

8,707

Nissan North America industrial facility,

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

LaGrange, Georgia

​

​

298

​

​

4,499

​

​

627

​

​

(151)

​

​

5,273

Continental Hydraulics industrial facility,

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Shakopee, Minnesota

​

​

1,875

​

​

5,457

​

​

944

​

​

(221)

​

​

8,055

Totals

​

$

6,234

​

$

31,425

​

$

3,324

​

$

(677)

​

$

40,306

X

- Definition

n/a

+ References

No definition available.

+ Details

Name:	olp_RealEstateAcquisitionsAbstract
Namespace Prefix:	olp_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of real estate acquisitions during the period, including date purchased, contract price, terms of payment and third party acquisition costs.

+ References

No definition available.

+ Details

Name:	olp_ScheduleOfRealEstateAcquisitionsDuringPeriodTableTextBlock
Namespace Prefix:	olp_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472

+ Details

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration