One Liberty Properties, Inc. announced that on December 2, 2020, the company's board of directors increased to eleven the number of directors on the board and elected Edward Gellert to fill the newly created Class 3 director position. Although the term of the Class 3 directors expires at the 2022 annual meeting of stockholders, because he was elected to his position by the board, Mr. Gellert will serve as a Class 3 director until the 2021 annual meeting of stockholders and when his successor is duly elected and qualifies. Subject to the board's nomination, Mr. Gellert will stand for re-election as a Class 3 director at the annual meeting of stockholders to be held in 2021, to serve for a term expiring at the 2022 annual meeting of stockholders and when his successor is duly elected and qualifies. Mr. Gellert has served since 2018 as Vice President and Managing Director for Commercial Real Estate Debt Investments at Alliance Bernstein, and from 2004 through 2018, he held, among other things, various positions at Avenue Capital Group, including serving as a senior portfolio manager. Mr. Gellert has more than 30 years of real estate industry experience, including investment and portfolio management, lending, distressed-focused investing, deal sourcing and the operation and development of real estate assets.