Lexington Realty Trust Raises $59.5 Million in Credit Tenant Lease Financing
NEW YORK, Nov. 26, 2012 (GLOBE NEWSWIRE) -- Lexington Realty Trust
("Lexington") (NYSE:LXP), a real estate investment trust (REIT), announced
today that it closed on a $59.5 million non-recourse first mortgage loan
secured by a leasehold interest in the 202,000 square-foot office building
located in the Stanford Research Park in Palo Alto, California. The building
is net-leased to Xerox Corporation through December 14, 2023, which is the
date that the leasehold interest terminates. The new loan bears interest at a
fixed rate of 3.97% per year and fully amortizes by December 14, 2023. The
property was previously unencumbered.
ABOUT LEXINGTON REALTY TRUST
Lexington Realty Trust owns, invests in and manages single-tenant office,
industrial and retail properties leased to major corporations throughout the
United States.Lexington also provides investment advisory and asset
management services to investors in the single-tenant area. Lexington's common
shares are traded on the New York Stock Exchange under the symbol "LXP".
Additional information about Lexington is available on-line at www.lxp.com or
by contacting Lexington Realty Trust, Investor Relations, One Penn Plaza,
Suite 4015, New York, New York 10119-4015.
CONTACT: Investor or Media Inquiries for Lexington Realty Trust:
Patrick Carroll, CFO
Lexington Realty Trust
Phone: (212) 692-7200 E-mail: email@example.com
Press spacebar to pause and continue. Press esc to stop.