One Liberty Properties Inc 2025年季度报告

Washington, DC20549 FORM10-Q ONE LIBERTY PROPERTIES, INC. Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). One Liberty Properties,Inc. and SubsidiariesTable of Contents See accompanying notes to consolidated financial statements (Amounts in Thousands, Except Per Share Data)(Unaudited) Table of Contents ONE LIBERTY PROPERTIES, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(Amounts in Thousands)(Unaudited) (Continued) The following table provides a reconciliation of cash, cash equivalents, and restricted cashreported within the consolidated balance sheets that sum to the total of the same such amounts shown in Restricted cash included in escrow, deposits and other assets and receivables represents amountsrelated to real estate tax and other reserve escrows required to be held by lenders in accordance with the Table of Contents ONE LIBERTY PROPERTIES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)MARCH 31, 2025 NOTE 1 – ORGANIZATION AND BACKGROUND One Liberty Properties, Inc. (“OLP”) was incorporated in 1982 in Maryland. OLP is a self-administered and self-managed real estate investment trust (“REIT”). OLP acquires, owns and manages ageographically diversified portfolio consisting primarily of industrial and, to a lesser extent, retailproperties, many of which are subject to long-term net leases. As of March 31, 2025, OLP owns105 NOTE 2 – SUMMARY ACCOUNTING POLICIES Principles of Consolidation/Basis of Preparation The accompanying unaudited consolidated financial statements have been prepared in accordancewith the instructions to Form 10-Q and include all of the information and disclosures required by U.S.Generally Accepted Accounting Principles (“GAAP”) for interim reporting. Accordingly, they do notinclude all of the disclosures required by GAAP for complete financial statement disclosures. In theopinion of management, all adjustments of a normal recurring nature necessary for fair presentation have The preparation of the financial statements in conformity with GAAP requires management to makeestimates and assumptions that affect the amounts reported in the financial statements and accompanying The consolidated financial statements include the accounts and operations of OLP, its wholly-ownedsubsidiaries, its joint ventures in which the Company, as defined, has a controlling interest, and variableinterest entities (“VIEs”) of which the Company is the primary beneficiary. OLP and its consolidated Purchase Accounting for Acquisition of Real Estate In acquiring real estate, the Company evaluates whether substantially all of the fair value of the grossassets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets, and ifthat requirement is met, the asset group is accounted for as an asset acquisition and not a business The Company allocates the purchase price of real estate, including direct transaction costs applicableto an asset acquisition, among land, building, improvements and intangibles (e.g.,the value of above,below and at-market leases, origination costs associated with in-place leases and above or below-marketmortgages assumed at the acquisition date). The value, as determined, is allocated to the gross assets The Company assesses the fair value of the gross assets acquired based on available marketinformation which utilize estimated cash flow projections; such inputs are categorized as Level 3 inputsin the fair value hierarchy. In determining fair value, factors considered by management include anevaluation of current market demand, market capitalization rates and discount rates, estimates of carrying Table of Contents ONE LIBERTY PROPERTIES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) NOTE 2 – SUMMARY ACCOUNTING POLICIES (CONTINUED) Investment in Joint Ventures and Variable Interest Entities The Financial Accounting Standards Board, or FASB, provides guidance for determining whether anentity is a VIE. VIEs are defined as entities in which equity inves