KBW Comments on LRY Portfolio Sale

Liberty Property Trust LRY announced another portfolio sale of suburban office and flex in Richmond, VA, for $97M, “on the heels of its $124M sale in the Lehigh Valley, PA, of similar assets announced yesterday,” KBW reports. “These sales are consistent with its strategy of rotating out of older suburban office assets to redeploy proceeds into newer and less capital-intensive distribution facilities,” KBW writes. Liberty Property Trust closed Thursday at $35.27.