Our strategy is clear; we are decreasing our investment in suburban office and increasing our investment in industrial real estate and metro office. We acquired eight properties for $104 million during the quarter. Five of the properties were industrial properties and accounted for $83 million of this investment.During the quarter, we begin construction of 1.2 million square feet of property with the projected investment of $76 million. Three of the properties with the projected investment of $61 million are industrial properties. The remaining property with the projected investment of $15 million is a 100% pre-leased office building at Philadelphia Navy Yard. As of September 30, the committed investment in development properties is a $171 million and the projected yield on this investment is 10.2%.
Liberty Property Trust's CEO Discusses Q3 2011 Results - Earnings Call Transcript
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