The Real Deal Miami

Liberty Property Trust grabs Palm Beach County site

Pennsylvania REIT pays $12 million for about 69 acres of commercial land
August 28, 2014 01:30PM

Liberty CEO William Hankowsky

Liberty CEO William Hankowsky

A company tied to Liberty Property Trust picked up about 69 acres of commercial land in Palm Beach County.

The Malvern, Pa.-based real estate investment trust paid $12 million for a four-property site northwest of Southern Boulevard and North Jog Road, according to Palm Beach County records. The county recorded the transaction on Wednesday. No financing was recorded.

Southern Investments Partnership of Jupiter sold the land to Liberty. Robert Blatt signed the deed as the company’s president. It acquired one of the four parcels, a 10.7-acre property, from the county for more than $1 million in December 2013.

Palm Beach Atlantic University sold Southern Investments the other three properties for about $4.6 million in July 2012. — Eric Kalis