Liberty Property plans 4.75M share offering

Liberty Property Trust announced today that it plans to sell 4.75 million common shares in an underwritten public offering.

The Malvern-based commercial real-estate company plans to grant underwriters an option to purchase an additional 712,500 shares during the next 30 days. Proceeds from the offering will be used to pay part of the company's outstanding debt and for general corporate purposes.

Liberty Property owns more than 73 million square feet of office and industrial space in the United States and United Kingdom, including the Comcast building in Center City.

Shares of Liberty Property Trust closed Wednesday at $37.27 on the New York Stock Exchange.