Here’s some info from answers.com about One Liberty Properties, the new owner of our beloved Prospect ParkPavilion. Not that we love the owners/managers of the Pavilion who have allowed many of the theaters in the theater to go to pot with broken seats and general disrepair (now we know why). We just love to be able to see movies nearby.
One Liberty Properties, Inc.
(NYSE:OLP)
Sector: Services
Industry: Real Estate Operations
Website: http://www.1liberty.comOne Liberty Properties, Inc. (One Liberty Properties) is a
self-administered and self-managed real estate investment trust (REIT).
The Company acquires, owns and manages a geographically diversified
portfolio of retail, industrial, office, movie theater, health and
fitness, and other properties in the United States, of which, a
substantial portion are under long-term leases. Substantially all of
One Liberty Properties’ leases are net leases. As of January 31, 2005,
the Company owned 46 properties, participated in six joint ventures
that owned a total of 14 properties and held a 50% tenancy in common
interest in one property. These properties are located in 23 states and
have an aggregate space of approximately 5.4 million square feet,
including all space for properties in which One Liberty Properties has
joint venture participation, its tenancy in common interest, and five
properties that the Company acquired in one transaction in January
2005.BRIEF: For the nine months ended 30 September 2005, One Liberty
Properties, Inc.’s revenues increased 33% to $20.9M. Net income from
continuing operations totaled $16.9M, up from $5.6M. Revenues reflect
higher rental income from newly acquired properties. Net income
benefited from lower real estate expenses and gain on sale of air
rights. One Liberty Properties, Inc., acquires, owns, manages and
leases improved commercial real estate properties.