NEW YORK, Aug. 7, 2013 (GLOBE NEWSWIRE) -- Lexington Realty Trust ("Lexington") (NYSE:LXP), a real estate investment trust focused on single-tenant real estate investments, today announced results for the second quarter ended June 30, 2013.
- Generated Company Funds From Operations, as adjusted ("Company FFO, as adjusted"), of $56.4 million, or $0.25 per diluted common share.
- Executed 2.1 million square feet of new and extended leases, raising overall portfolio occupancy to 97.9%, and 2.5 million square feet of new and extended leases subsequent to quarter end.
- Issued $250.0 million of 4.25% 10-year Senior Notes, which are unsecured and rated investment-grade by Moody's Investors Service, Inc. and Standard & Poor's Rating Services.
- Swapped the LIBOR component on $64.0 million of five-year unsecured term loan borrowings at 0.73% for a current fixed interest rate of 2.08%.
- Increased revolving credit facility availability from $300.0 million to $400.0 million.
- Redeemed, at par, all $155.0 million of outstanding shares of 7.55% Series D Cumulative Redeemable Preferred Stock.
- Retired $219.4 million of secured debt, which had a weighted-average fixed interest rate of 6.1%.
- Closed property acquisitions of $47.1 million, invested $7.7 million in current build-to-suit projects and entered into two agreements to fund new build-to-suit projects for an aggregate commitment of $37.0 million.
- Produced $46.6 million of gross proceeds from dispositions.