Liberty Property Trust (the Trust) is a self-administered and self-managed Maryland real estate investment trust (REIT). The Trust’s assets are owned directly or indirectly, and all of the Trust’s operations are conducted directly or indirectly, by its subsidiary, Liberty Property Limited Partnership. As of December 31, 2010, the Company owned and operated 345 industrial and 292 office properties totaling 65.2 million square feet. In addition, as of December 31, 2010, the Company owned 1,347 acres of developable land, substantially all of which is zoned for commercial use. Additionally, as of December 31, 2010, the Company had an ownership interest, through unconsolidated joint ventures, in 48 industrial and 50 office properties totaling 14.4 million square feet, and 627 acres of developable land, all of which is zoned for commercial use. During the year ended December 31, 2010, the Trust acquired five properties consisting 1.2 million square feet.