One Liberty Properties contracts $33M industrial acquisition, reports $1.1M impairment on Ohio LA Fitness

ONE LIBERTY PROPERTIES INC

Contracted to buy 302k sf industrial near Omaha for $33M; closing by Sep 30; $18.4M mortgage at 6.08%.
Completed purchase of 35k sf Savannah industrial for $5.2M; financed with $2.8M mortgage at 6%.
Sold five properties (May-June 2024) for total $16.32M, net proceeds ~$15M.
LA Fitness Secaucus lease extended to 2040; rent increased to $1.6M; OLP to fund up to $1.2M improvements.
Former LA Fitness Hamilton lease terminated; LOI to sell for $4.4M; expects $1.1M impairment in Q2 2024.

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