NEW YORK, May 8, 2014 (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 first quarter ended March 31, 2014.
First Quarter 2014 Highlights
- Company Funds From Operations, as adjusted ("Company FFO, as adjusted"), grew 12% to $0.28 per diluted common share.
- Closed property acquisitions of $79.6 million.
- Entered into an agreement for a four building build-to-suit project for $166.2 million.
- Invested $62.2 million in on-going build-to-suit projects and loan investments.
- Committed to acquire a newly built office property for $40.0 million.
- Executed 1.7 million square feet of new and extended leases with overall portfolio 97.2% leased.
- Repaid $19.5 million of secured debt with an interest rate of 6.2%.
- Sold four office properties for an aggregate price of $41.1 million, retiring $18.6 million of secured debt.
- Financed an office property for $27.8 million for five years at a fixed interest rate of 2.2%.
- Executed 0.7 million square feet of new and extended leases for vacant or 2014 lease expirations.