SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 20, 2000
ONE LIBERTY PROPERTIES, INC.
(Exact name of registrant as specified in charter)
Maryland 0-11083 13-3147497
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(State or other (Commission file No.) (IRS Employer
jurisdiction of I.D. No.)
incorporation)
60 Cutter Mill Road, Suite 303, Great Neck, New York 11021
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code 516-466-3100
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Item 2. Acquisition or Disposition of Assets.
On October 23, 2000, in an ordinary course of business transaction, a wholly
owned subsidiary of registrant sold thirteen gas, service station and
convenience store properties, all located in Michigan and all leased and
operated by the same operator. The gross sales price was $12,000,000, which will
result in an accounting gain of approximately $3.5 million. The Company's
present intention is to use the sales proceeds to acquire one or more additional
net leased properties on a tax-deferred exchange basis. In the event that the
sales proceeds are used to acquire additional properties on a tax-deferred
basis, the Company will not realize a gain for federal income tax purposes on
the sale.
Item 7. Financial Statements
Financial statements relating to the acquisition described in Item 2
have not been included in this report and will be filed prior to December 18,
2000.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ONE LIBERTY PROPERTIES, INC.
By:__________________________
David W. Kalish
Chief Financial Officer
and Vice President
