One Liberty Properties, Inc. is a self-administered and self-managed real estate investment trust incorporated under the laws of Maryland in December 1982. The primary business of the Company is to acquire, own and manage a geographically diversified portfolio of retail, industrial, office and other properties under long term leases. Substantially all of their leases are “net leases”, under which the tenant is responsible for real estate taxes, insurance and ordinary maintenance and repairs. They acquired their portfolio of properties by balancing fundamental real estate analysis with tenant credit evaluation. Their analysis focuses on the value of a property, determined primarily by its location, use, and by local demographics. They also evaluate a tenant’s financial ability to meet operational needs and lease obligations.