Liberty Property Trust Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2010

LIBERTY PROPERTY TRUST REAL ESTATE AND ACCUMULATED

SCHEDULE III

LIBERTY PROPERTY TRUST
REAL ESTATE AND ACCUMULATED DEPRECIATION
(In thousands)

A summary of activity for real estate and accumulated depreciation is as follows:


	Year Ended December 31,
	2010			2009			2008
REAL ESTATE:
Balance at beginning of year	$	5,417,585		$	5,332,122		$	5,584,173
Additions		123,693			155,797			311,442
Disposition of property		(46,566	)		(70,334	)		(563,493	)


Balance at end of year	$	5,494,712		$	5,417,585		$	5,332,122


ACCUMULATED DEPRECIATION:
Balance at beginning of year	$	970,935		$	852,425		$	744,691
Depreciation expense		147,299			144,548			147,243
Disposition of property		(27,549	)		(26,038	)		(39,509	)


Balance at end of year	$	1,090,685		$	970,935		$	852,425

SCHEDULE III

LIBERTY PROPERTY LIMITED PARTNERSHIP

LIBERTY PROPERTY TRUST REAL ESTATE AND ACCUMULATED

LIBERTY PROPERTY LIMITED PARTNERSHIP
REAL ESTATE AND ACCUMULATED DEPRECIATION
(In thousands)

A summary of activity for real estate and accumulated depreciation is as follows:


	Year Ended December 31,
	2010			2009			2008
REAL ESTATE:
Balance at beginning of year	$	5,417,585		$	5,332,122		$	5,584,173
Additions		123,693			155,797			311,442
Disposition of property		(46,566	)		(70,334	)		(563,493	)


Balance at end of year	$	5,494,712		$	5,417,585		$	5,332,122


ACCUMULATED DEPRECIATION:
Balance at beginning of year	$	970,935		$	852,425		$	744,691
Depreciation expense		147,299			144,548			147,243
Disposition of property		(27,549	)		(26,038	)		(39,509	)


Balance at end of year	$	1,090,685		$	970,935		$	852,425

- Definition

An entity whose business is acquiring and holding for investment real estate or interests in real estate should list all real estate that is held for investment. The schedule should describe the property and list the initial cost of land, buildings and improvements, improvements and carrying costs capitalized after acquisition, and the total carrying cost for land, buildings and improvements for each property and in aggregate. The schedule should also list the accumulated depreciation for each property and in aggregate, the date each property was constructed and acquired, the useful life used to calculate depreciation and any encumbrances on the properties. The entity should provide a reconciliation in total of the carrying amount of real estate from the beginning of the period to the end of the period. A similar reconciliation should be provided for accumulated depreciation. Any real estate investments that have been written down or reserved against should be described, including the basis of the write-down. A material amount of intercompany profit in the total carrying amount of real estate should be disclosed. The aggregate cost of all real estate investments for federal income tax purposes should also be disclosed.

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