2.2.0.7 true Indebtedness 0205 - Disclosure - Indebtedness true false false false 1 USD false false USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 2 Indebtedness 2 us-gaap_DebtDisclosureTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false verboselabel false 1 false false false false 0 0   <div style="font-family: Helvetica,Arial,sans-serif; margin-left: 0in; "> <div align="justify" style="font-size: 10pt; margin-top: 10pt"><u><b>Note 5: Indebtedness</b></u> </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Mortgage Loans</b> </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt">In April 2010, the Company used available cash and proceeds from its unsecured credit facility to repay $119.3 million principal value of mortgage loans. The weighted average interest rate of these loans as of March 31, 2010 was 7.3%. The mortgages encumbered certain of the Company’s operating properties with a net book value of $216.8 million. The Company incurred a $1.2 million prepayment penalty and wrote off $936,000 in deferred financing costs in conjunction with the prepayment of these loans. These costs are included as interest expense in the accompanying statements of operations. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Senior Notes</b> </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt">In August 2010, the Company used proceeds from its unsecured credit facility to repay $169.7 million principal value of 8.5% senior notes. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt">In September 2010, the Company issued $350 million of ten-year, 4.75% senior unsecured notes. The net proceeds from this issuance were used to repay borrowings under the Company’s unsecured credit facility and for general corporate purposes. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Credit Facility</b> </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt">In August 2010, The Company replaced its existing $600 million credit facility which was due in January 2011 with a new credit facility. The new facility is for $500 million. It matures in November 2013. Based upon the Company’s current credit ratings, borrowings under the new facility bear interest at LIBOR plus 230 basis points. </div>   </div>  <div style="font-family: Helvetica,Arial,sans-serif; margin-left: 0in; "> </div> false false false us-types:textBlockItemType textblock Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 false 3 LIBERTY PROPERTY LIMITED PARTNERSHIP 0 na true na na No definition available. false true false false false false false false false false false http://libertyproperty.com/role/indebtedness false 1 false false false false 0 0 false false false false 2 USD true false false false LIBERTY PROPERTY LIMITED PARTNERSHIP dei_LegalEntityAxis xbrldi http://xbrl.org/2006/xbrldi lry_LimitedPartnershipMember dei_LegalEntityAxis explicitMember USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ na No definition available. No authoritative reference available. false 4 Indebtedness 2 us-gaap_DebtDisclosureTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false verboselabel false 1 false false false false 0 0   <div style="font-family: Helvetica,Arial,sans-serif; margin-left: 0in; "> <div align="justify" style="font-size: 10pt; margin-top: 10pt"><u><b>Note 5: Indebtedness</b></u> </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Mortgage Loans</b> </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt">In April 2010, the Company used available cash and proceeds from its unsecured credit facility to repay $119.3 million principal value of mortgage loans. The weighted average interest rate of these loans as of March 31, 2010 was 7.3%. The mortgages encumbered certain of the Company’s operating properties with a net book value of $216.8 million. The Company incurred a $1.2 million prepayment penalty and wrote off $936,000 in deferred financing costs in conjunction with the prepayment of these loans. These costs are included as interest expense in the accompanying statements of operations. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Senior Notes</b> </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt">In August 2010, the Company used proceeds from its unsecured credit facility to repay $169.7 million principal value of 8.5% senior notes. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt">In September 2010, the Company issued $350 million of ten-year, 4.75% senior unsecured notes. The net proceeds from this issuance were used to repay borrowings under the Company’s unsecured credit facility and for general corporate purposes. </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Credit Facility</b> </div> <div align="justify" style="font-size: 10pt; margin-top: 10pt">In August 2010, The Company replaced its existing $600 million credit facility which was due in January 2011 with a new credit facility. The new facility is for $500 million. It matures in November 2013. Based upon the Company’s current credit ratings, borrowings under the new facility bear interest at LIBOR plus 230 basis points. </div>   </div>  <div style="font-family: Helvetica,Arial,sans-serif; margin-left: 0in; "> </div> false false false us-types:textBlockItemType textblock Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 false 1 3 false UnKnown UnKnown UnKnown false true