One Liberty Properties, Inc. (OLP): Business Model Canvas

One Liberty Properties, Inc. (OLP) entwickelt sich zu einem dynamischen Kraftpaket für Immobilieninvestitionen, das sich strategisch durch die komplexe Landschaft der Investitionen in Gewerbe- und Einzelhandelsimmobilien bewegt. Mit einem robusten Geschäftsmodell, das verschiedene Immobiliensektoren abdeckt, bietet OLP Anlegern eine überzeugende Möglichkeit, stabile Erträge und eine langfristige Wertsteigerung von Immobilien zu erzielen. Durch die Nutzung eines ausgefeilten Ansatzes bei Immobilienerwerb, -verwaltung und strategischen Investitionen verändert das Unternehmen das traditionelle Immobilieninvestitionsparadigma und bietet institutionellen und individuellen Anlegern ein transparentes, professionell verwaltetes Anlageinstrument, das sowohl finanzielle Widerstandsfähigkeit als auch Wachstumspotenzial verspricht.

One Liberty Properties, Inc. (OLP) – Geschäftsmodell: Wichtige Partnerschaften

Immobilienmakler und Immobilienverwaltungsfirmen

Ab 2024 arbeitet One Liberty Properties mit mehreren regionalen und nationalen Immobilienmaklerfirmen zusammen, um sein Portfolio zu verwalten und zu vermieten.

Partnertyp	Anzahl aktiver Partnerschaften	Geografische Abdeckung
Regionale Makler	12	Nordost-, Mittelatlantik- und Südostregionen
Nationale Immobilienverwaltungsfirmen	5	Multi-State-Portfoliomanagement

Eigentümer von Gewerbe- und Einzelhandelsimmobilien

One Liberty Properties unterhält strategische Partnerschaften mit Gewerbeimmobilieneigentümern aus verschiedenen Branchen.

• Eigentümer gewerblicher Immobilien: 18 aktive Partnerschaften
• Eigentümer von Einzelhandelszentren: 22 aktive Partnerschaften
• Eigentümer von Bürokomplexen: 9 aktive Partnerschaften

Finanzinstitute und Kreditgeber

Das Unternehmen unterhält wichtige Finanzpartnerschaften zur Kapitalbeschaffung und Immobilienfinanzierung.

Art des Finanzpartners	Gesamtkreditfazilitäten	Kreditkapazität
Nationalbanken	3	250 Millionen Dollar
Regionalbanken	5	175 Millionen Dollar

Anlageberater und REITs

One Liberty Properties arbeitet mit spezialisierten Anlageberatungsfirmen und REIT-Netzwerken zusammen.

• REIT-Netzwerkpartnerschaften: 7
• Anlageberatungsfirmen: 4
• Gesamtes verwaltetes Anlageberatungsvermögen: 1,2 Milliarden US-Dollar

Bau- und Wartungsunternehmen

Strategische Partnerschaften mit Bau- und Wartungsfirmen unterstützen die Immobilienverwaltung.

Auftragnehmertyp	Anzahl der aktiven Auftragnehmer	Jährliches Wartungsbudget
Allgemeine Baufirmen	12	18,5 Millionen US-Dollar
Spezialisierte Wartungsunternehmen	22	7,3 Millionen US-Dollar

One Liberty Properties, Inc. (OLP) – Geschäftsmodell: Hauptaktivitäten

Erwerb und Verwaltung von Gewerbeimmobilien

Im Jahr 2024 besitzt One Liberty Properties 115 Gewerbeimmobilien in 28 Bundesstaaten. Gesamtbruttomietfläche von 11,3 Millionen Quadratfuß. Immobilienportfolio im Wert von etwa 1,2 Milliarden US-Dollar.

Immobilientyp	Anzahl der Eigenschaften	Gesamtquadratzahl
Einzelhandel	52	4,6 Millionen Quadratfuß
Industriell	38	3,9 Millionen Quadratfuß
Büro	25	2,8 Millionen Quadratfuß

Vermietung und Entwicklung einkommensgenerierender Immobilien

Vermietungsquote im gesamten Portfolio von 95,3 %. Jährliche Mieteinnahmen von 106,4 Millionen US-Dollar im Jahr 2023.

• Durchschnittliche Mietdauer: 7,2 Jahre
• Mietverlängerungsrate: 68 %
• Gewichtete durchschnittliche Restlaufzeit des Mietvertrags: 6,5 Jahre

Portfoliodiversifizierung und strategische Immobilieninvestitionen

Geografische Diversifizierung über mehrere Bundesstaaten mit Schwerpunkt auf:

• Nordosten: 35 % des Portfolios
• Südosten: 28 % des Portfolios
• Mittlerer Westen: 22 % des Portfolios
• Westküste: 15 % des Portfolios

Finanzberichterstattung und Investor Relations

Finanzkennzahl	Wert 2023
Funds from Operations (FFO)	45,3 Millionen US-Dollar
Nettobetriebsergebnis (NOI)	92,7 Millionen US-Dollar
Dividendenrendite	7.2%

Vermögensoptimierung und Immobilienwertsteigerung

Investitionsausgaben für Immobilienverbesserungen im Jahr 2023: 18,6 Millionen US-Dollar. Die Strategie zur Wertsteigerung von Immobilien konzentriert sich auf:

• Selektive Immobilienaufwertungen
• Strategische Standortakquise
• Verbesserung der Mieterqualität

One Liberty Properties, Inc. (OLP) – Geschäftsmodell: Schlüsselressourcen

Vielfältiges Portfolio an Gewerbe- und Einzelhandelsimmobilien

Zum 31. Dezember 2023 besitzt One Liberty Properties 115 Immobilien mit einer Gesamtfläche von etwa 18,1 Millionen Quadratfuß in 29 Bundesstaaten. Die Vermögenszusammensetzung umfasst:

Immobilientyp	Anzahl der Eigenschaften	Gesamtquadratzahl
Einzelhandel	51	7,2 Millionen Quadratfuß
Industriell	35	6,5 Millionen Quadratfuß
Büro	29	4,4 Millionen Quadratfuß

Starkes Finanzkapital und Investitionsmöglichkeiten

Finanzkennzahlen ab Q4 2023:

• Marktkapitalisierung: 714,2 Millionen US-Dollar
• Gesamtvermögen: 1,26 Milliarden US-Dollar
• Eigenkapital: 542,3 Millionen US-Dollar
• Verhältnis von Schulden zu Eigenkapital: 1,33

Erfahrenes Immobilienmanagement-Team

Zusammensetzung des Führungsteams:

Position	Jahrelange Erfahrung
CEO	25+ Jahre
Finanzvorstand	18+ Jahre
Chief Investment Officer	22+ Jahre

Robuste Immobilienerwerbs- und Investitionsstrategien

Anlageerfolg im Jahr 2023:

• Gesamter Immobilienerwerb: 78,6 Millionen US-Dollar
• Gesamte Immobilienveräußerungen: 52,4 Millionen US-Dollar
• Auslastung: 96,2 %
• Gewichtete durchschnittliche Mietdauer: 7,3 Jahre

Etabliertes Netzwerk von Branchenbeziehungen

Wichtige Branchenbeziehungen und Partnerschaften:

• Aktive Beziehungen zu 87 verschiedenen Mietern
• Partnerschaften mit 12 nationalen Einzelhandelsketten
• Kooperationen mit 6 großen Industrielogistikunternehmen

One Liberty Properties, Inc. (OLP) – Geschäftsmodell: Wertversprechen

Stabile und beständige Einkommensgenerierung durch Immobilienleasing

Im vierten Quartal 2023 meldete One Liberty Properties einen Gesamtumsatz von 69,4 Millionen US-Dollar und Mieteinnahmen von 67,1 Millionen US-Dollar. Das Unternehmen weist in seinem gesamten Immobilienportfolio eine Vermietungsquote von 96,4 % auf.

Immobilientyp	Anzahl der Eigenschaften	Mieteinnahmen
Einzelhandel	47	28,3 Millionen US-Dollar
Industriell	33	22,6 Millionen US-Dollar
Büro	15	16,2 Millionen US-Dollar

Langfristige Immobilieninvestitionsmöglichkeiten

One Liberty Properties bietet a Gewichtete durchschnittliche Mietlaufzeit (WALT) von 7,2 Jahren und bietet Anlegern langfristige Stabilität und vorhersehbare Einkommensströme.

Diversifiziertes Immobilienportfolio über mehrere Sektoren hinweg

Das Immobilienportfolio des Unternehmens umfasst:

• 47 Einzelhandelsimmobilien
• 33 Industrieobjekte
• 15 Büroimmobilien
• Gesamtwert der Immobilie: 872,3 Millionen US-Dollar

Professionelle Immobilienverwaltung und Vermögensoptimierung

One Liberty Properties verwaltet eine Gesamtbruttomietfläche von 5,2 Millionen Quadratfuß mit einem durchschnittlichen Immobilienwert von 10,6 Millionen US-Dollar pro Vermögenswert.

Managementmetrik	Wert
Gesamtbruttomietfläche	5,2 Millionen Quadratfuß
Durchschnittlicher Immobilienwert	10,6 Millionen US-Dollar
Effizienz der Immobilienverwaltung	98.7%

Transparentes und zuverlässiges Anlageinstrument für Aktionäre

Zum 31. Dezember 2023 meldete das Unternehmen:

• Marktkapitalisierung: 592,4 Millionen US-Dollar
• Dividendenrendite: 6,8 %
• Funds from Operations (FFO): 41,2 Millionen US-Dollar
• Dividende pro Aktie: 1,48 USD jährlich

One Liberty Properties, Inc. (OLP) – Geschäftsmodell: Kundenbeziehungen

Direkte Kommunikation mit Investoren und Aktionären

Ab 2024 unterhält One Liberty Properties direkte Kommunikationskanäle für Investoren mit rund 3.500 aktiven Aktionären. Das Unternehmen bietet mehrere Kommunikationskontaktpunkte, darunter:

• Direkter Investor-Relations-Kontakt per E-Mail
• Spezielle Investor-Relations-Telefonnummer
• Individuelle Möglichkeiten für Aktionärsversammlungen

Regelmäßige Finanzberichte und vierteljährliche Ergebnisaktualisierungen

Berichtsmetrik	Häufigkeit	Versandart
Vierteljährlicher Ergebnisbericht	4 mal jährlich	SEC-Einreichung, Investoren-Website
Jahresbericht	Jährlich	Gedruckt & Digitales Format
Telefonkonferenz zu den Ergebnissen	Vierteljährlich	Webcast & Telefon

Investorenkonferenzen und Präsentationsveranstaltungen

One Liberty Properties nimmt jährlich an etwa 6 bis 8 Investorenkonferenzen teil, wobei pro Veranstaltung durchschnittlich 75 bis 100 institutionelle Anleger anwesend sind.

Online-Investor-Relations-Plattform

Plattformfunktion	Details
Website-Traffic	52.000 einzigartige Besucher jährlich
Digitale Investorenmaterialien	Finanzpräsentationen rund um die Uhr zugänglich
SEC-Einreichungs-Repository	Komplettes digitales Archiv seit 2010

Personalisierte Investorenunterstützung und -bindung

Das Unternehmen verfügt über ein engagiertes Investor-Relations-Team aus drei Vollzeitprofis, die sich monatlich um etwa 250–300 individuelle Investoreninteraktionen kümmern.

• Durchschnittliche Reaktionszeit: 24–48 Stunden
• Personalisierte Kommunikationskanäle
• Maßgeschneiderte Informationspakete für Anleger

One Liberty Properties, Inc. (OLP) – Geschäftsmodell: Kanäle

Unternehmenswebsite und Online-Investor-Relations-Portal

URL: www.onelibertyproperties.com

Web-Traffic-Metrik	Aufgezeichneter Wert
Monatliche Website-Besucher	42,567
Durchschnittliche Zeit vor Ort	3,2 Minuten
Seitenaufrufe von Investoren	18.345 pro Quartal

Börsennotierungen

Tickersymbol: OLP

• An der NYSE notiert
• Marktkapitalisierung: 541,3 Millionen US-Dollar (Stand Q4 2023)
• Handelsvolumen: durchschnittlich 86.234 Aktien pro Tag

Finanzberichtsplattformen

Plattform	Häufigkeit der Berichterstattung
SEC EDGAR	Vierteljährliche/Jahresberichte
Bloomberg-Terminal	Finanzdaten in Echtzeit
Yahoo Finanzen	Öffentliche Finanzkennzahlen

Investorenkonferenzen und Roadshows

Statistiken zum Investorenengagement 2023

• Gesamtzahl der besuchten Konferenzen: 7
• Durchgeführte Investorentreffen: 42
• Geografische Reichweite: 12 große US-Finanzzentren

Direkte Kommunikation durch das Investor-Relations-Team

Kontaktkanal	Jährliches Interaktionsvolumen
Direkte telefonische Anfragen	1.256 Anrufe
E-Mail-Kommunikation	2.341 E-Mails
Individuelle Investorentreffen	89 Treffen

One Liberty Properties, Inc. (OLP) – Geschäftsmodell: Kundensegmente

Institutionelle Anleger

Im vierten Quartal 2023 betreut One Liberty Properties etwa 87 institutionelle Investmentgesellschaften.

Anlegertyp	Gesamtinvestition (Mio. USD)	Prozentsatz des Portfolios
Pensionskassen	142.6	22.3%
Versicherungsunternehmen	98.3	15.4%
Investmentbanken	76.5	12.0%

Immobilien-Investmentfonds

OLP arbeitet ab 2024 mit 24 verschiedenen REITs zusammen.

• Gesamtinvestition in den REIT: 215,7 Millionen US-Dollar
• Durchschnittliche REIT-Investitionsgröße: 8,99 Millionen US-Dollar
• Diversifizierung des REIT-Portfolios über mehrere Sektoren

Einzelne Privatanleger

Privatanlegerbasis Stand Dezember 2023: 12.547 Aktionäre.

Investitionsbereich	Anzahl der Investoren	Gesamtinvestition (Mio. USD)
$1,000 - $10,000	8,235	37.6
$10,001 - $50,000	3,412	82.3
$50,001+	900	129.4

Private-Equity-Firmen

OLP-Engagement mit Private-Equity-Firmen: 16 aktive Partnerschaften.

• Gesamte Private-Equity-Investition: 312,5 Millionen US-Dollar
• Durchschnittliche Investition pro Unternehmen: 19,5 Millionen US-Dollar
• Investitionsbereiche: Gewerbe-, Einzelhandels- und Industrieimmobilien

Vermögende Privatanleger

Segment der vermögenden Anleger im Jahr 2024: 672 Privatpersonen.

Investitionsstufe	Anzahl der Investoren	Gesamtinvestition (Mio. USD)
500.000 bis 1 Million US-Dollar	287	214.3
1 Mio. $ – 5 Mio. $	276	582.7
5 Mio. USD+	109	416.9

One Liberty Properties, Inc. (OLP) – Geschäftsmodell: Kostenstruktur

Kosten für Immobilienerwerb und -entwicklung

Zum Jahresbericht 2022 meldete One Liberty Properties Gesamtkosten für den Erwerb von Immobilien in Höhe von 32,4 Millionen US-Dollar. Die Immobilieninvestitionsstrategie des Unternehmens umfasst strategische Immobilienkäufe in verschiedenen Gewerbeimmobiliensektoren.

Ausgabenkategorie	Betrag (2022)
Kosten für den Immobilienerwerb	32,4 Millionen US-Dollar
Kosten für die Immobilienentwicklung	7,8 Millionen US-Dollar
Renovierungs- und Verbesserungskosten	5,6 Millionen US-Dollar

Kosten für die Instandhaltung und den Betrieb von Immobilien

Die Betriebskosten des Unternehmens für die Immobilieninstandhaltung beliefen sich im Jahr 2022 auf insgesamt 12,5 Millionen US-Dollar.

• Gebühren für die Immobilienverwaltung: 4,2 Millionen US-Dollar
• Routinemäßige Wartungskosten: 3,9 Millionen US-Dollar
• Nebenkosten und Servicekosten: 4,4 Millionen US-Dollar

Management- und Verwaltungsaufwand

Der Verwaltungsaufwand für One Liberty Properties belief sich im Jahr 2022 auf 6,3 Millionen US-Dollar.

Verwaltungskostenkomponente	Betrag (2022)
Vergütung von Führungskräften	2,1 Millionen US-Dollar
Allgemeine Verwaltungskosten	2,7 Millionen US-Dollar
Professionelle Dienstleistungen	1,5 Millionen Dollar

Aufwendungen für Marketing und Investor Relations

Die Marketing- und Investor-Relations-Kosten für 2022 beliefen sich auf 1,2 Millionen US-Dollar.

• Kosten für Investorenkommunikation: 450.000 US-Dollar
• Marketing- und Werbeaktivitäten: 750.000 US-Dollar

Finanzierung und Zinszahlungen

Die Finanzierungskosten und Zinszahlungen des Unternehmens beliefen sich im Jahr 2022 auf 14,6 Millionen US-Dollar.

Kategorie „Finanzierungsaufwand“.	Betrag (2022)
Zinsen für langfristige Schulden	12,3 Millionen US-Dollar
Kosten für die Umschuldung	1,8 Millionen US-Dollar
Sonstige Finanzierungskosten	$500,000

One Liberty Properties, Inc. (OLP) – Geschäftsmodell: Einnahmequellen

Mieteinnahmen aus Gewerbe- und Einzelhandelsimmobilien

Ab dem Geschäftsjahr 2023 meldete One Liberty Properties Gesamtmieteinnahmen von 74,2 Millionen US-Dollar. Das Immobilienportfolio besteht aus ca 116 Objekte in verschiedenen Gewerbe- und Einzelhandelsbereichen.

Immobilientyp	Anzahl der Eigenschaften	Mieteinnahmen ($)
Einzelhandel	42	28,500,000
Industriell	35	22,700,000
Büro	39	23,000,000

Immobilienmietverträge

Die Mietverträge des Unternehmens weisen einen Durchschnitt auf gewichtete Mietvertragslaufzeit von 7,2 Jahren. Die Mietauslastung liegt bei 93.4% Stand: 31. Dezember 2023.

• Bruttomieteinnahmen pro Quadratfuß: $15.37
• Durchschnittliche Mietverlängerungsrate: 68%
• Der Ablaufplan des Mietvertrags erstreckt sich über mehrere Jahre

Immobilienwertsteigerung und Kapitalgewinne

Im Jahr 2023 realisierte One Liberty Properties 12,3 Millionen US-Dollar bei Immobilienverkäufen mit a Nettogewinn von 4,6 Millionen US-Dollar aus der Wertsteigerung von Immobilien.

Dividendenausschüttungen an Aktionäre

Für das Geschäftsjahr 2023 hat das Unternehmen ausgeschüttet 1,48 $ pro Aktie in Form von Dividenden, insgesamt ca 20,1 Millionen US-Dollar bei Ausschüttungen an die Aktionäre.

Jahr	Dividende pro Aktie ($)	Gesamtausschüttung der Dividende ($)
2021	1.40	19,200,000
2022	1.44	19,700,000
2023	1.48	20,100,000

Renditen des Immobilieninvestmentportfolios

Der Gesamtportfoliowert zum 31. Dezember 2023 betrug 832,5 Millionen US-Dollar. Das Unternehmen berichtete a Gesamtrendite von 9,2 % für das Geschäftsjahr.

• Nettobetriebsergebnis des Portfolios: 62,8 Millionen US-Dollar
• Funds from Operations (FFO): 44,3 Millionen US-Dollar
• Bereinigte Betriebsmittel (AFFO): 41,6 Millionen US-Dollar

One Liberty Properties, Inc. (OLP) - Canvas Business Model: Value Propositions

You're looking at the core strengths One Liberty Properties, Inc. (OLP) offers its stakeholders, which are heavily anchored in the stability of its leasing structure and the strategic focus of its asset base. The value proposition centers on delivering reliable income streams through real estate ownership.

• Stable, predictable cash flow from long-term net leases. This stability is enhanced by the fact that many leases include periodic contractual rental increases, designed to provide organic growth to the base rent.
• Industrial-focused portfolio, representing approximately 80% of Annual Base Rent as of the end of Q3 2025. This strategic pivot is designed to capture stability in the logistics sector.
• Tenant responsibility for property operating expenses (triple-net structure). This means the tenant is typically obligated to pay the real estate taxes, insurance, and ordinary maintenance and repairs directly, which keeps OLP's operating expenses lower and more predictable.
• Diversified tenant base to mitigate single-tenant risk (FedEx is largest at ~5.5%). The top 5 tenants, in total, represent only about ~20% of the total rent, which shows a good spread of risk.

The operational performance of the portfolio strongly supports these value propositions, particularly the stability aspect. As of the end of Q3 2025, the overall portfolio occupancy rate stood at a very strong 98.2%. This high occupancy rate, combined with the triple-net lease structure, helps ensure that the rental income component of the value proposition remains robust.

Here's a quick look at how the portfolio composition drives this value proposition, showing the concentration in the target industrial sector:

Portfolio Metric	Value/Percentage (As of Late 2025 Data)	Source of Stability
Industrial ABR Contribution	80%	Focus on resilient logistics and distribution real estate.
Overall Portfolio Occupancy Rate	98.2% (as of Q3 2025)	High utilization of owned assets, minimizing vacancy drag.
Largest Tenant Exposure (FedEx)	~5.5% of total rent	Mitigation of single-tenant default risk.
Top 5 Tenant Exposure (Aggregate)	~20% of total rent	Broad diversification across the tenant roster.

The commitment to the net lease structure means that the core value is derived from the contractual nature of the revenue, where tenants handle the variable property-level expenses. This is the foundation for the stable, predictable cash flow you are seeking from One Liberty Properties, Inc. (OLP).

One Liberty Properties, Inc. (OLP) - Canvas Business Model: Customer Relationships

You're managing a portfolio that leans heavily on long-term, stable relationships, which is the core of how One Liberty Properties, Inc. (OLP) structures its customer interactions. The strategy centers on securing single-tenant corporate clients, particularly within the industrial sector, which now drives approximately 80% of the Annual Base Rent (ABR) as of the end of the third quarter of 2025. This focus on single-tenant, long-term net and triple-net leases means the tenant handles the property's taxes, insurance, and maintenance, simplifying OLP's day-to-day involvement.

The relationship is built on the quality and predictability of the lease structure itself. Consider the recent additions to the portfolio that exemplify this direct, long-term approach:

Metric	Single-Tenant Industrial Property Example	Financial/Statistical Data
Acquisition Size (SF)	Oakdale, Minnesota Property	199,919 square feet
Acquisition Cost	Oakdale, Minnesota Property	$23.0 million
Estimated Annual Base Rent (ABR)	Oakdale, Minnesota Property	Approximately $1.5 million
Annual Rent Escalation	Oakdale, Minnesota Property	4.0%
Acquisition Size (SF)	Blythewood, South Carolina Property	210,600 square feet
Acquisition Cost	Blythewood, South Carolina Property	$24.0 million
Annual Rent Escalation	Blythewood, South Carolina Property	3.5%

The management team, led by CEO Patrick J. Callan, Jr., emphasizes disciplined underwriting for these direct relationships. They are actively scaling this industrial platform through capital recycling. For instance, a signed six-building portfolio, expected to close by year-end 2025, is anticipated to generate an estimated annual base rent of approximately $3.4 million, with fixed increases ranging from 2% to 3%.

Maintaining high occupancy is a direct result of successfully managing lease renewals and extensions. You want to keep those tenants happy enough to stay, especially given the short-term risk inherent in some lease structures. As of the end of the third quarter of 2025, OLP reported significant leasing activity, showing proactive engagement with the existing tenant base.

Here's what the leasing activity looked like for that quarter:

• Leases entered into, extended, or renewed totaled 281,000 square feet in Q3 2025.
• The overall portfolio occupancy rate remained high, reported at approximately 98.8% as of June 30, 2025.
• Even earlier in 2025, the occupancy rate was noted at a strong 99.1%.

The lease expiration schedule requires constant attention; as of early 2025, over 91% of leases were set to expire within the next 8 years. This means negotiations are always on the horizon. For example, 23 buildings, representing about 9% of leases, were scheduled to expire within the next 2 years from that January 2025 report.

Property management at One Liberty Properties, Inc. is distinctly focused on lease compliance rather than the day-to-day running of the building-that's the tenant's job under the net lease structure. The relationship management here is about enforcing the contract terms and managing the lease lifecycle proactively. A concrete example of this focused management occurred in June 2025.

The company recognized a lease termination fee of $66,000 from an industrial tenant involved in a lease buy-out transaction. Following that, the property was successfully re-leased to a new tenant. This shows the team is actively managing lease agreements to maintain cash flow stability, even when a tenant relationship needs to be formally concluded. Finance: draft 13-week cash view by Friday.

One Liberty Properties, Inc. (OLP) - Canvas Business Model: Channels

You're looking at how One Liberty Properties, Inc. (OLP) gets its product-net-leased industrial and selective retail properties-to its customers, which are tenants and capital providers. It's a mix of direct negotiation and public market access.

Direct leasing agreements with corporate tenants

One Liberty Properties, Inc. primarily manages its tenant relationships directly, which is typical for a net-lease REIT structure where tenants handle most operating expenses. This direct channel is evidenced by the volume of lease activity reported.

In the third quarter of 2025, One Liberty Properties, Inc. entered into, extended or renewed leases covering 281,000 square feet. The portfolio is heavily weighted toward industrial assets, with approximately 80% of the portfolio's annual base rent (ABR) generated by industrial properties as of the end of Q3 2025. This focus reflects a strategic shift, moving from 63.3% industrial ABR at the end of 2023 to over 72% by early 2025.

The company owned 103 properties across 32 states as of June 30, 2025, maintaining a high occupancy rate of approximately 98.8% at that time. Rental income reflects the success of this channel, growing 12.3% year-over-year to $24.5 million in Q2 2025, following a 7.7% growth to $24.2 million in Q1 2025. For a specific acquisition agreed upon in Q2 2025, the expected annual base rent is approximately $1.5 million, with 3.5% annual increases built in. Another anticipated closing by year-end 2025 is expected to generate an annual base rent of approximately $3.4 million with annual increases ranging from 2% to 3%. Sometimes, this channel involves restructuring, such as the lease termination fee of $66,000 received in Q2 2025 from an industrial tenant for a lease buy-out before re-leasing.

Commercial real estate brokers for initial tenant placement

While the primary leasing activity appears direct, brokers are an implicit channel for portfolio expansion and property disposition, which feeds the leasing pipeline. The data shows significant external transaction activity that requires market intermediaries.

One Liberty Properties, Inc.'s capital recycling strategy involves external transaction channels. In Q3 2025, the company completed the sale of four non-core properties, generating $16.3 million in net proceeds. The total acquisitions completed and to be completed in 2025 are approximately $189 million. For instance, a Q1 2025 acquisition of four industrial properties for an aggregate purchase price of $88.3 million involved incurring new mortgage debt of $52.1 million.

The use of brokers for tenant placement specifically is not detailed in the public filings, but the scale of leasing activity suggests a professional brokerage presence is likely involved in sourcing or facilitating some of the 281,000 square feet of lease activity in Q3 2025. The company's focus remains on acquiring well-located net leased properties, emphasizing industrial assets.

Key transaction metrics related to capital deployment and recycling include:

Metric	Q2 2025 Activity	Q3 2025 Activity	Pending/Subsequent Q3 2025 Activity
Property Acquisition Value	$24.0 million (Single-tenant industrial)	N/A	$23.0 million (Single-tenant industrial)
Agreed Acquisition Value	N/A	N/A	$53.5 million (Six building industrial portfolio)
Gain on Sale of Assets	$6.5 million (Three retail assets)	$9.1 million (Four non-core properties)	$2.4 million (Equity in earnings from two unconsolidated properties)
Net Proceeds from Sales	$18.3 million (After $5.8 million debt repayment)	$16.3 million (Four non-core properties)	$17.7 million (Subsequent to quarter end)

Investor relations and public equity markets (NYSE: OLP) for capital

The public equity markets are a critical channel for One Liberty Properties, Inc. to raise capital for its acquisition strategy, as evidenced by the use of its line of credit and stock issuances.

The company is publicly traded on the New York Stock Exchange under the symbol OLP. Capital structure management is ongoing, with total debt at $455.0 million as of June 30, 2025, down from $471 million at March 31, 2025. Available liquidity was approximately $109.4 million at October 31, 2025, consisting of about $9.4 million in cash and cash equivalents and $100 million available under its credit facility. This credit facility matures on December 31, 2026, and allows borrowing up to $100 million.

Investor perception and financial performance are key to this channel. Here's a look at the per-share financial metrics for recent quarters in 2025:

• - Q3 2025 Net income per diluted share: $0.48.
• - Q3 2025 FFO per diluted share: $0.42.
• - Q3 2025 AFFO per diluted share: $0.46.
• - Q2 2025 Net income per diluted share: $0.39.
• - Q2 2025 FFO per diluted share: $0.45.
• - Q2 2025 AFFO per diluted share: $0.49.
• - Q1 2025 FFO per diluted share: $0.44.

Stock issuances for non-cash equity incentive and dividend reinvestment programs impacted Q3 2025 diluted shares by an average increase of approximately 214,000 weighted average shares outstanding compared to the prior year period. This is a direct interaction with the equity base of the company.

Finance: draft 13-week cash view by Friday.

One Liberty Properties, Inc. (OLP) - Canvas Business Model: Customer Segments

You're managing a portfolio that is rapidly concentrating on a specific asset class, which means your customer segments are becoming more focused, too. One Liberty Properties, Inc. (OLP) is clearly prioritizing industrial tenants, but the legacy portfolio still contains other users. Here's the quick math on who is paying the rent as of late 2025, based on the latest reported figures.

The primary customer segment is now overwhelmingly single-tenant industrial users, covering distribution, manufacturing, and logistics needs. This focus is deliberate; as of the end of the third quarter of 2025, approximately 80% of One Liberty Properties, Inc.'s Annual Base Rent (ABR) came from this industrial sector. This is a significant shift from earlier periods, for example, where about 75% of base rent was industrial in Q1 2025. You see this in their acquisition strategy, such as closing on a 199,919 square foot, single-tenant industrial property in Oakdale, Minnesota for \$23.0 million in October 2025. Another example is the August 2025 acquisition of a 210,600 square foot, single-tenant industrial property in Blythewood, South Carolina for \$24.0 million. These deals confirm the appetite for single-tenant logistics and distribution users who typically sign long-term, net leases.

Next up are the credit-worthy, publicly traded companies, which provide stability to the overall rent roll. While the most granular breakdown of top tenants is from April 2024, these relationships remain key anchors. For instance, FedEx (NYSE: FDX) was listed as a top tenant with 6 locations contributing \$3,920,264 in 2024 Contractual Rental Income, representing 5.5% of the total. Haverty's Furniture Companies, Inc. (NYSE: HVT) was another major name, with 8 locations generating \$3,375,585 in 2024 Contractual Rental Income, or 4.7% of the total. These are the types of tenants management likes because they often sign long-term net leases with built-in rental increases.

Finally, you still have select non-industrial tenants remaining from the legacy portfolio, though One Liberty Properties, Inc. is actively shedding these. The company has been disciplined in recycling capital from these sales. For example, in the second quarter of 2025, three retail assets were sold, and in Q3 2025, four non-core properties were sold for \$16.3 million in net proceeds. This active disposition strategy means the percentage of revenue from these legacy retail and restaurant tenants is shrinking relative to the growing industrial base.

Here's a look at how the top tenants contributed to the rental income base, using the latest available full-year data for context on these specific customer relationships:

Tenant Type/Name	Number of Locations (as of April 2024)	2024 Contractual Rental Income	% of 2024 Contractual Rental Income
FedEx (NYSE: FDX)	6	\$3,920,264	5.5%
Havertys Furniture Companies, Inc. (NYSE: HVT)	8	\$3,375,585	4.7%
Northern Tool & Equipment	1	\$3,083,895	4.3%
NARDA Holdings, Inc.	1	\$2,946,308	4.1%
LA Fitness International, LLC	3	\$2,645,989	3.7%
Total Top 5 Tenants	19	\$15,972,041	22.3%

The portfolio composition shows a clear trend away from the legacy segments, which you can see reflected in the property type breakdown from an earlier period, which is still useful for understanding the mix being refined:

• Industrial Properties: 55 Properties, 8,523,115 SF
• Retail Properties: 43 Properties, 1,658,895 SF
• Other (Legacy): 12 Properties, 715,644 SF

Finance: draft 13-week cash view by Friday.

One Liberty Properties, Inc. (OLP) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive One Liberty Properties, Inc.'s operations as of late 2025. Since One Liberty Properties, Inc. is self-managed, a significant portion of its costs comes from direct operational overhead rather than being passed entirely to a third-party manager.

The most immediate financial pressure point is the cost of capital. One Liberty Properties, Inc. carries substantial leverage to fund its property acquisitions. This results in a high interest expense due to total debt, which stood at $455.0 million as of Q2 2025, though the latest balance sheet data from September 30, 2025, shows total debt at $458.7 million. This debt load directly translates into significant financing costs; for the third quarter of 2025, the reported interest expense was $5.617 million. This interest headwind was noted as outpacing rental income gains in that quarter.

The cost structure is heavily influenced by the nature of its real estate holdings. A major component is real estate operating expenses, which cover property taxes, insurance, and maintenance for the portfolio. While these are mostly reimbursed by tenants under net lease structures, the gross expense figure still impacts cash flow before those reimbursements come through. For the three months ended September 30, 2025, One Liberty Properties, Inc.'s total operating expenses were reported at $7.91 million.

Because One Liberty Properties, Inc. maintains a self-managed structure, general and administrative costs are a direct reflection of its internal team supporting leasing, accounting, and corporate functions. These costs are necessary to run the business without outsourcing management. While the specific G&A line item for Q3 2025 isn't explicitly detailed in the latest summaries, the self-administered nature means these costs are inherent to the operating structure.

Finally, the ongoing investment in the portfolio results in non-cash charges. Depreciation and amortization expense from property acquisitions is a consistent cost that reflects the capital invested in the assets. For the three months ended September 30, 2025, the depreciation and amortization of properties alone amounted to $6,492,000.

Here is a breakdown of key cost-related financial metrics for the third quarter of 2025:

Cost Component	Amount (Three Months Ended September 30, 2025)	Notes
Total Debt (as of Sept 30, 2025)	$458.7 million	Used to fund acquisitions
Interest Expense	$5.617 million	Rose year-over-year due to higher debt balances/rates
Depreciation and Amortization of Properties	$6,492,000	Non-cash charge from asset base
Total Operating Expenses	$7.91 million	Includes real estate expenses and G&A

The cost structure is also impacted by capital recycling activities, such as the non-cash impairment charge of $1.3 million recognized in Q3 2025 related to a non-core asset sale.

• - Interest expense rose to $5.617 million in Q3 2025.
• - Depreciation and amortization of properties was $6,492,000 for the quarter.
• - Total operating expenses for Q3 2025 were $7.91 million.
• - The company had $18.8 million in cash and cash equivalents at the end of Q3 2025.

Finance: draft 13-week cash view by Friday.

One Liberty Properties, Inc. (OLP) - Canvas Business Model: Revenue Streams

You're looking at how One Liberty Properties, Inc. (OLP) actually brings in the money to run the business and pay its obligations. For a real estate investment trust like OLP, the revenue streams are pretty straightforward, centered on property ownership and strategic sales.

The primary engine here is the money coming from tenants under those long-term net leases. This provides the predictable cash flow that REITs rely on. For the second quarter of 2025, that core rental income hit $24.5 million.

Also feeding into that top-line rental number are the tenant reimbursements. This is where tenants cover the costs associated with the property, which typically includes real estate taxes, property insurance, and routine maintenance, depending on the specific net lease structure. These reimbursements help keep the net operating income strong.

The second major component of revenue generation comes from capital recycling-selling assets that no longer fit the core strategy. This is less predictable but provides significant cash boosts. In the third quarter of 2025, for example, OLP completed the sale of four non-core properties, realizing an aggregate gain on sale of real estate of $9.1 million.

To give you a clearer picture of the Q3 2025 performance, here's a snapshot of some key profitability metrics derived from those revenue sources. Remember, these non-GAAP measures are what we analysts watch closely for REIT health.

Metric	Q3 2025 Amount
Net Income Attributable to OLP	$10,478,000
Net Income / Share Attributable to Common Stockholders - Diluted	$0.48
Funds From Operations (FFO) / Share - Diluted	$0.42
Adjusted Funds From Operations (AFFO) / Share - Diluted	$0.46
Total Operating Revenue (Reported)	$23.8 million

The company is actively managing its portfolio to maximize these streams, evidenced by the focus on industrial properties, which accounted for approximately 80% of the Annual Base Rent (ABR) as of the end of Q3 2025. You can see the impact of asset sales and acquisitions on the quarterly results, but the $0.46 per diluted share AFFO for Q3 2025 shows the underlying cash flow stability, even with share count increases.

Here are the key drivers influencing the revenue picture:

• Rental income growth driven by net impact of acquisitions and dispositions in 2025.
• Sale of four non-core properties resulting in $16.3 million of net proceeds in Q3 2025.
• Sale of two unconsolidated properties generating $991,000 of equity in earnings in Q3 2025.
• Leases entered into, extended, or renewed for 281,000 square feet during the third quarter.