2 from the postwar data for the DCs could capture the entire "long swing" of inequality, the expected signs on the parameters for LRY and LRYSQ would be positive and negative, respectively, when the dependent variable is a measure of inequality, namely, the Gini and the income share of the top 20%.
7 The partial derivative of INEQ with respect to LRY in Equation 2.
9 The low precision of the individual parameter estimates for LRY and LRYSQ here is to be interpreted cautiously.
LRY experienced flat same-store cash NOI growth for the nine months ended Sept.
Additionally, although LRY has a presence in several markets, the company derives approximately 47% of annual net rent from the Pennsylvania/New Jersey region.
Additionally, although LRY
has a presence in several markets, the company derives approximately 46% of annual net rent from the Pennsylvania/New Jersey region.
LRY has $270 million of senior unsecured notes that mature in early 2009, which, when combined with only $225 million of availability under its unsecured credit facility and minimal retained cash flows after dividend payments and capital expenditures, results in LRY having a liquidity shortfall.
LRY also engages in speculative development, in lower barrier-to-entry markets, which may begin to put a strain on the company's occupancy levels, cash flow and liquidity should leasing velocity moderate during a weaker economic period.
LRY has financial flexibility with demonstrated access to the capital markets during the past 12 months, and the company has approximately 22% of availability on its $600 million unsecured credit facility as of Dec.
LRY has no more than 14% of its net rent expiring in any year until 2012, and, excluding the company's maturity of its revolving credit facility in 2010, has no more than 12% of it debt maturing in any given year.
recently completed the $900+ million purchase of Republic Property Trust, an office REIT with assets in the D.
and Liberty has formed a joint venture with a unit of Commerzbank AG where LRY
will retain a 20% stake in the property upon completion.