Owners' Equity - Operating Partnership (Liberty Property Limited Partnership [Member])

12 Months Ended

Dec. 31, 2013

Liberty Property Limited Partnership [Member]

Class of Stock [Line Items]

Partners' Capital Notes Disclosure [Text Block]

OWNERS' EQUITY - OPERATING PARTNERSHIP

Common Units

General and limited partners' equity - common units relates to limited partnership interests of the Operating Partnership issued in connection with the formation of the Operating Partnership and certain subsequent acquisitions. The common units outstanding as of December 31, 2013 have the same economic characteristics as common shares of the Trust. The 3,556,566 outstanding common units are the limited partners' equity - common units held by persons and entities other than the Trust, the general partner of the Operating Partnership, which holds a number of common units equal to the number of outstanding common shares of beneficial interest. Both the common units held by the Trust and the common units held by persons and entities other than the Trust are counted in the weighted average number of common units outstanding during any given period. The 3,556,566 outstanding common units share proportionately in the net income or loss and in any distributions of the Operating Partnership and are exchangeable into the same number of common shares of the Trust. The market value of the 3,556,566 outstanding common units at December 31, 2013 based on the closing price of the common shares of the Company at December 31, 2013 was $120.5 million.

Preferred Units

The Operating Partnership had no outstanding cumulative redeemable preferred units of the Operating Partnership as of December 31, 2013. During the year ended December 31, 2013, the Company redeemed or repurchased $20.0 million of outstanding 7.00% Series E Cumulative Redeemable Preferred Units, $17.5 million of outstanding 6.65% Series F Cumulative Redeemable Preferred Units and $27.0 million of outstanding 6.70% Series G Cumulative Redeemable Preferred Units, all at par. In connection with these redemptions and repurchases, the Company wrote off $1.2 million in origination costs.

During the year ended December 31, 2012, the Company redeemed $32.5 million of outstanding 6.65% Series F Cumulative Redeemable Preferred Units for $26.0 million. Also, the Company redeemed $95.0 million of outstanding 7.45% Series B Cumulative Redeemable Preferred Units and $100.0 million of outstanding 7.40% Series H Cumulative Redeemable Preferred Units at par. In connection with these redemptions, during the year ended December 31, 2012, the Company recognized a $3.7 million net gain relating to the excess of preferred unit carrying amount over redemption price net of certain costs.

The Operating Partnership paid the following Equity Preferred Unit distributions for the years ended December 31:

	2013	2012	2011
Distributions (in millions)	$1.6	$9.9	$21.0
Distribution per unit:
Series B	—	$0.45	$1.86
Series E	$1.21	$3.50	$3.50
Series F	$1.32	$1.43	$3.33
Series G	$1.33	$3.35	$3.35
Series H	—	$0.77	$1.85

Continuous Equity Offering

The Company has a continuous equity offering program in place for up to $200 million of equity. During year ended December 31, 2013, the Company sold 1.9 million common shares through this program. The aggregate proceeds from the offering of $75.0 million were used to pay down outstanding borrowings under the Company's unsecured credit facility and for general corporate purposes. The Company did not sell any common shares pursuant to a continuous offering program during 2012 or 2011.

Noncontrolling Interest - Consolidated Joint Ventures

Noncontrolling interest - consolidated joint ventures includes third-party ownership interests in consolidated joint venture investments.