2.2.0.25falsefalse0204 - Disclosure - Noncontrolling intereststruefalsefalse1falsefalseUSDfalsefalse1/1/2011 - 3/31/2011
USD ($)
USD ($) / shares
$Jan-01-2011_Mar-31-2011http://www.sec.gov/CIK0000921112duration2011-01-01T00:00:002011-03-31T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDEPSDividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0SharesStandardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0us-gaap_MinorityInterestAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalse3false0us-gaap_MinorityInterestDisclosureTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged Note 4 - us-gaap:MinorityInterestDisclosureTextBlock-->
<div style="font-family: Helvetica,Arial,sans-serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><u><b>Note 4: Noncontrolling interests</b></u>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">Noncontrolling interests in the accompanying financial statements represent the interests of the
common and preferred units in Liberty Property Limited Partnership not held by the Trust. In
addition, noncontrolling interests include third-party ownership interests in consolidated joint
venture investments.
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Common units</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The common units outstanding as of March 31, 2011 have the same economic characteristics as common
shares of the Trust. The 3,928,733 outstanding common units share proportionately in the net
income or loss and in any distributions of the Operating Partnership. The common units of the
Operating Partnership not held by the Trust are redeemable at any time at the option of the holder.
The Trust, as the sole general partner of the Operating Partnership, may at its option elect to
settle the redemption in cash or through the exchange on a one-for-one basis with unregistered
common shares of the Trust. The market value of the 3,928,733 outstanding common units based on
the closing price of the common shares of the Company at March 31, 2011 was $129.3 million.
</div>
<!-- Folio -->
<!-- /Folio -->
</div>
<!-- PAGEBREAK -->
<div style="font-family: Helvetica,Arial,sans-serif; margin-left: 0in; ">
<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>Preferred units</b>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Company has outstanding the following cumulative redeemable preferred units of the Operating
Partnership (the “Preferred Units”):
</div>
<div align="center">
<table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<tr valign="bottom">
<td width="10%"> </td>
<td width="1%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="1%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="1%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="1%"> </td>
<td width="1%"> </td>
<td width="7%"> </td>
<td width="1%"> </td>
<td width="1%"> </td>
<td width="9%"> </td>
<td width="1%"> </td>
<td width="39%"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><font style="font-variant: small-caps"><b>Liquidation</b></font></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2"><font style="font-variant: small-caps"><b>Dividend</b></font></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center"><font style="font-variant: small-caps"><b>Redeemable</b></font></td>
<td> </td>
<td nowrap="nowrap" align="center"> </td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td nowrap="nowrap" align="left" style="border-bottom: 1px solid #000000"><font style="font-variant: small-caps"><b>Issue</b></font></td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><font style="font-variant: small-caps"><b>Amount</b></font></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><font style="font-variant: small-caps"><b>Units</b></font></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><font style="font-variant: small-caps"><b>Preference</b></font></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><font style="font-variant: small-caps"><b>Rate</b></font></td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" style="border-bottom: 1px solid #000000"><font style="font-variant: small-caps"><b>As of</b></font></td>
<td> </td>
<td nowrap="nowrap" align="center" style="border-bottom: 1px solid #000000"><font style="font-variant: small-caps"><b>Exchangeable after</b></font></td>
</tr>
<tr style="font-size: 10pt" valign="bottom">
<td> </td>
<td> </td>
<td nowrap="nowrap" align="center" colspan="6"><b>(in 000’s)</b></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<!-- End Table Head -->
<!-- Begin Table Body -->
<tr valign="top" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Series B
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">95,000</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">3,800</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">25</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">7.45</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td align="center" valign="top">8/31/09</td>
<td> </td>
<td align="left" valign="bottom">8/31/13 into Series B Cumulative Redeemable Preferred Shares of the Trust</td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td align="center" valign="top"> </td>
<td> </td>
<td align="left" valign="bottom"> </td>
</tr>
<tr valign="top">
<td>
<div style="margin-left:15px; text-indent:-15px">Series E
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">20,000</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">400</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">50</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">7.00</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td align="center" valign="top">6/16/10</td>
<td> </td>
<td align="left" valign="bottom">6/16/15 into Series E Cumulative Redeemable Preferred Shares of the Trust</td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td align="center" valign="top"> </td>
<td> </td>
<td align="left" valign="bottom"> </td>
</tr>
<tr valign="top" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Series F
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">50,000</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">1,000</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">50</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">6.65</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td align="center" valign="top">6/30/10</td>
<td> </td>
<td align="left" valign="bottom">12/12/15 into Series F Cumulative Redeemable Preferred Shares of the Trust</td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td align="center" valign="top"> </td>
<td> </td>
<td align="left" valign="bottom"> </td>
</tr>
<tr valign="top">
<td>
<div style="margin-left:15px; text-indent:-15px">Series G
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">27,000</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">540</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">50</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">6.70</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td align="center" valign="top">12/15/11</td>
<td> </td>
<td align="left" valign="bottom">12/15/16 into Series G Cumulative Redeemable Preferred Shares of the Trust</td>
</tr>
<tr valign="bottom"><!-- Blank Space -->
<td>
<div style="margin-left:15px; text-indent:-15px"> 
</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td align="center" valign="top"> </td>
<td> </td>
<td align="left" valign="bottom"> </td>
</tr>
<tr valign="top" style="background: #cceeff">
<td>
<div style="margin-left:15px; text-indent:-15px">Series H
</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">100,000</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">4,000</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">25</td>
<td> </td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">7.40</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td align="center" valign="top">8/21/12</td>
<td> </td>
<td align="left" valign="bottom">8/21/17 into Series H Cumulative Redeemable Preferred Shares of the Trust</td>
</tr>
<!-- End Table Body -->
</table>
</div>
<div align="justify" style="font-size: 10pt; margin-top: 10pt">The Preferred Units are callable at the Operating Partnership’s option after a stated period
of time. The Trust as the sole general partner of the Operating Partnership may at its option
elect to settle the redemption for cash or through the exchange on a one-for-one basis with
unregistered preferred shares of the Trust.
</div>
</div>
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" -->
<!-- Begin Block Tagged NotefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescription of noncontrolling interest in consolidated subsidiaries which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net income (loss) of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
falsefalse12Noncontrolling interestsUnKnownUnKnownUnKnownUnKnownfalsetrue