One Liberty is a New York based real estate investment trust (REIT) that specializes in the acquisition and ownership of a diverse portfolio of commercial real estate properties under long term net leases. One Liberty's net leases generally provide for contractual rent increases. These properties normally have all the operating expenses and most or all other property related expenses paid by the tenant.
As an example of this intelligent investing in net lease properties can be seen in One Liberty Properties second quarter results. One Liberty's Rental income for the three months ending June 30, 2010 was $10.6 million compared to $9.7 million for the three months that ended June 30, 2009. Rental income increases were due to the effect of acquisitions, as well as increased revenues associated with lease revisions within the existing portfolio.