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Liberty Property Trust closes $114M of dispositions

Industrial-focused real estate investment trust Liberty Property Trust closed the sale of 779,190 square feet of suburban office properties in Pennsylvania in two transactions for $106.9 million, and an industrial property in Virginia for $7.0 million.

The company sold the office properties at 9, 15-25 and 11 Great Valley Parkway in Malvern for $14.9 million. In the second transaction, the REIT sold 440 E. Swedesford Road and 460 E. Swedesford Road in Wayne; 2100 Renaissance Boulevard and 2201 Renaissance Boulevard in King of Prussia; and 45 Liberty Boulevard and 300, 400 and 500 Chesterfield Parkway in Malvern for $92 million.

While Liberty Trust did not disclose the buyers of the properties, Equus Capital Partners Ltd. said in a separate release that it acquired the $92 million portfolio. The sale, which first made news in February, was made on behalf of its $361 million Equus Investment Partnership X LP discretionary equity fund.

The industrial property sold is an 80,000-square-foot industrial building at 301 Hill Carter Parkway in Richmond, Va.