Lexington Realty Trust Raises $59.5 Million in Credit Tenant Lease Financing
NEW YORK, Nov. 26, 2012 (GLOBE NEWSWIRE) -- Lexington Realty Trust (LXP) ("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.comSource: Lexington Realty Trust 2012 GlobeNewswire, Inc.