NEW YORK CITY-Fitch, the New York-based rating agency, has begun grading the securities of Liberty Property Trust with a BBB rating for its $1.3 billion in senior unsecured notes issued by its operating subsidiary, Liberty Property Limited Partnership. Maturity dates range from 2002 to 2018. A BBB rating has also been given to the trust’s $125 million series A cumulative preferred stock.

A super-regional owner, manager and developer of office and industrial properties, the Malvern, PA-based REIT has a portfolio of 660 properties with 49 million sf and a total market capitalization of $4.1 billion. Suburban office buildings account for 51% of the company’s aggregate base rental revenue, 26% comes from R&D/flex properties and the balance from industrial distribution facilities.

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