LXP » Topics » Acquisitions

This excerpt taken from the LXP 8-K filed Feb 29, 2008.
Acquisitions
For the quarter ended December 31, 2007, Lexington acquired one property for a capitalized cost of $13.7 million.
This excerpt taken from the LXP 8-K filed May 4, 2007.

Acquisitions

 

During the quarter ended March 31, 2007, Lexington acquired interests in the following four real estate assets, for an aggregate purchase price of approximately $78.9 million.

 

Orlando, Florida

Lexington Strategic Asset Corp. (“LSAC”), a consolidated subsidiary of Lexington, acquired a single-story, 59,927 square foot educational facility in Orlando, Florida for approximately $14.3 million. The purchase by LSAC was financed with cash balances and a non-recourse first mortgage loan of $10.0 million. The loan bears interest at a fixed-rate of 5.72% and matures in 2017.

 

The educational facility is 100% net leased to Corinthian Colleges, Inc. with an initial lease term expiring in September 2013. The educational facility is on a 6.78 acre parcel of land located within close proximity to Orlando International Airport, the Florida Turnpike and the Beeline Expressway. Corinthian Colleges, Inc. is one of the largest post-secondary education companies in North America.

 

Boston, Massachusetts

Lexington acquired a ten-story, 52,337 square foot medical office building in downtown Boston, Massachusetts for approximately $20.0 million. The purchase was financed with cash balances.

 

The medical office building is 100% net leased to Harvard Vanguard Medical Associates with an initial lease term expiring in May 2012. The medical office building is located in downtown Boston at 147 Milk Street at Post Office Square, in close proximity to Interstates 93 and 90, Faneuil Hall Marketplace, and Boston Common. Harvard Vanguard Medical Associates is a multi-specialty medical group practice with over 500 physicians and 21 offices in Greater Boston.

 

Shreveport, Louisiana

Lexington acquired a 646,000 square foot distribution facility located in Shreveport, Louisiana for approximately $26.6 million. The purchase was financed with cash balances.

 

The distribution facility, developed in 2006, is 100% net leased to Libbey Glass, Inc. with an initial lease term expiring in October 2026. The facility is situated on a 78-acre parcel of land and can support an expansion should the tenant elect to expand. Libbey Glass, Inc. engages in the design, manufacture, marketing, and supply of tableware products primarily in the United States and Canada, as well as in Latin America, Asia, and Europe.

 

Dallas, Texas

Lexington acquired the Gateway Office Center, a two-story, 101,844 square feet office building, within the greater Dallas area for approximately $18.0 million. The purchase was financed with cash balances.

 

The office building, which is 100% net leased, has been occupied by both Brinks, Inc. and Washington Mutual. Subsequent to the purchase a lease amendment was signed with Brinks, Inc. to occupy the entire building, with an initial lease term expiring in April 2017. The Brink’s Company, through its subsidiaries, Brink’s, Incorporated and Brink’s Home Security, Inc., provides transportation and cash

 


Lexington Realty Trust

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logistics services in North America, Europe, Middle East, and Africa.

 

This excerpt taken from the LXP 8-K filed Feb 23, 2007.

Acquisitions

 

During the year ended December 31, 2006, Lexington acquired interests in a total of 185 properties,

 


 

Lexington Realty Trust

      Page 4 of 9

 

 

including the properties acquired through the merger with Newkirk Realty Trust, for an aggregate purchase price of approximately $2.3 billion. The merger with Newkirk Realty Trust significantly increased Lexington’s property portfolio in California, Texas and New Jersey and solidified its position as the dominant REIT in the U.S. focused on single-tenant real estate investments.

 

This excerpt taken from the LXP 8-K filed Mar 27, 2006.

Acquisitions

RICHARD J. ROUSE,

VICE CHAIRMAN & CIO

AND

NATASHA ROBERTS,

DIRECTOR OF ACQUISITIONS

23


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