LEXINGTON REALTY TRUST - FORM 8-K - EX-99.1 - EXHIBIT 99.1

Attached files

file	filename
8-K - CURRENT REPORT - LEXINGTON REALTY TRUST	v417085_8k.htm
EX-99.2 - EXHIBIT 99.2 - LEXINGTON REALTY TRUST	v417085_ex99-2.htm

Exhibit 99.1

Quarterly Earnings and

Supplemental Operating and Financial Data

June 30, 2015

LEXINGTON REALTY TRUST

SUPPLEMENTAL REPORTING PACKAGE

June 30, 2015

Table of Contents

Section		Page

Second Quarter 2015 Earnings Press Release		3

Portfolio Data
2015 Second Quarter Investment/Capital Recycling Summary		13
Build-To-Suit Projects/Forward Commitments		14
2015 Second Quarter Financing Summary		15
2015 Second Quarter Leasing Summary		16
Other Revenue Data		18
Portfolio Detail By Asset Class		20
Portfolio Composition		21
Components of Net Asset Value		22
Top Markets		23
Single-Tenant Office Markets		24
Tenant Industry Diversification		25
Top 10 Tenants or Guarantors		26
Lease Rollover Schedules – GAAP Basis		27
Property Leases and Vacancies – Consolidated Portfolio		29
Select Credit Metrics		36
Historical Credit Metrics Summary		37
Financial Covenants		38
Mortgages and Notes Payable		39
Debt Maturity Schedule		42
Mortgage Loans Receivable		43
Partnership Interests		44
Selected Balance Sheet and Income Statement Account Data		45
Investor Information		46

Appendix A – Land, Infrastructure and CTF Group

This Quarterly Earnings Release and Supplemental Reporting Package contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the control of Lexington Realty Trust “Lexington”, which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Lexington’s periodic reports filed with the Securities and Exchange Commission, including risks related to: (1) the authorization of Lexington’s Board of Trustees of future dividend declarations, including those necessary to achieve an annualized dividend level of $0.68 per common share/unit (2) Lexington’s ability to achieve its estimate of Company FFO for the year ending December 31, 2015, (3) the successful consummation of any lease, acquisition, build-to-suit, financing or other transaction, (4) the failure to continue to qualify as a real estate investment trust, (5) changes in general business and economic conditions, including the impact of any new legislation, (6) competition, (7) increases in real estate construction costs, (8) changes in interest rates, (9) changes in accessibility of debt and equity capital markets, and (10) future impairment charges. Copies of the periodic reports Lexington files with the Securities and Exchange Commission are available on Lexington’s web site at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe Lexington’s future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects,” may,” “plans,” “predicts,” “will,” “will likely result,” “is optimistic,” “goal,” “objective” or similar expressions. Except as required by law, Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington’s expectations will be realized.

	LEXINGTON REALTY TRUST
	TRADED: NYSE: LXP
	ONE PENN PLAZA, SUITE 4015
	NEW YORK, NY 10119-4015

FOR IMMEDIATE RELEASE

LEXINGTON REALTY TRUST REPORTS SECOND QUARTER 2015 RESULTS

Raises Company FFO guidance range to $1.02 - $1.06 per share

New York, NY - Tuesday, August 4, 2015 - 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, 2015.

Second Quarter 2015 Highlights

•

Generated Company Funds From Operations (“Company FFO”) of $67.0 million, or $0.27 per diluted common share.

•

Invested $28.2 million in on-going build-to-suit projects and commenced funding an industrial build-to-suit project for $70.0 million.

•

Completed an industrial build-to-suit property for $10.1 million.

•

Disposed of two office buildings for gross disposition proceeds of $77.1 million.

•

Retired $30.1 million of secured debt.

•

Completed 1.3 million square feet of new leases and lease extensions with overall portfolio 96.3% leased.

•

Raised renewal rents by 1.3% on a cash basis and 6.6% on a GAAP basis.

•

Announced a 10.0 million common share repurchase authorization subsequent to quarter end.

T. Wilson Eglin, President and Chief Executive Officer of Lexington, stated, “We continue to make substantive progress on our capital recycling and portfolio repositioning initiatives. During the quarter, we sold $77.1 million of office properties, bringing our total for the year to $112.3 million, with proceeds redeployed primarily into newer, longer-term investments at attractive returns through our build-to-suit projects. Given the strong investment sales market, we expect disposition activity to remain elevated throughout the balance of 2015. Within our portfolio, we completed 1.3 million of new leases and lease extensions during the quarter. We expect to make substantial progress over the balance of this year with respect to leases expiring in 2016 and beyond.”

Mr. Eglin added, “Of particular note is the cumulative impact that the execution of our capital recycling program has had on our office portfolio. The weighted-average lease term in this portfolio is over seven years and more than half of our office revenue is from investment-grade rated tenants. Most importantly, 72% of our office revenue is from long-term leases or leases which have been renewed since the beginning of 2009. Taken together, our exposure to expiring leases with above market rents has been considerably mitigated.”

FINANCIAL RESULTS

Revenues

For the quarter ended June 30, 2015, total gross revenues were $110.3 million, a 4.6% increase compared with total gross revenues of $105.4 million for the quarter ended June 30, 2014. The increase is primarily due to property acquisitions.

Company FFO

For the quarter ended June 30, 2015, Lexington generated Company FFO of $67.0 million, or $0.27 per diluted share, compared to Company FFO for the quarter ended June 30, 2014 of $67.6 million, or $0.28 per diluted share. The calculation of Company FFO and a reconciliation to net income attributable to common shareholders is included later in this press release.

Dividends/Distributions

Lexington declared a regular quarterly common share/unit dividend/distribution for the quarter ended June 30, 2015 of $0.17 per common share/unit, which was paid on July 15, 2015 to common shareholders/unitholders of record as of June 30, 2015, and a dividend of $0.8125 per share on its Series C Cumulative Convertible Preferred Stock (“Series C Preferred Shares”), which will be paid on August 17, 2015 to Series C Preferred Shareholders of record as of July 31, 2015.

Net Income Attributable to Common Shareholders

For the quarter ended June 30, 2015, net income attributable to common shareholders was $47.7 million, or $0.20 per diluted share, compared with net income attributable to common shareholders for the quarter ended June 30, 2014 of $12.7 million, or $0.05 per diluted share.

OPERATING ACTIVITIES

Investment Activity

During the quarter, Lexington completed one build-to-suit project, which is subject to a lease having a term in excess of ten years (an “LTL”).

Acquisition

Tenant

Location

Property

Type

Initial

Basis

($000)

Initial

Annualized

Cash Rent

($000)

Initial

Cash

Yield

GAAP

Yield

Lease

Term

(Yrs)

Hollander Sleep Products, Inc.

Thomson, GA

LTL - Industrial

10,144

836

8.2

9.2

Lexington also funded $28.2 million of the projected costs of the following projects:

On-going Build-to-Suit Projects

Location	Sq. Ft.		Property Type	Lease Term (Years)	Maximum Commitment/ Estimated Completion Cost ($000)		GAAP Investment Balance as of 6/30/2015 ($000)		Estimated Completion/ Acquisition Date
Oak Creek, WI		164,000	LTL - Industrial	20	$	22,609	$	18,444	3Q 15
Richmond, VA		330,000	LTL - Office	15		110,137		89,015	3Q 15
Anderson, SC		1,325,000	LTL - Industrial	20		70,012		7,133	2Q 16
Lake Jackson, TX		664,000	LTL - Office	20		166,164		32,455	4Q 16
Houston, TX⁽¹⁾		274,000	LTL - Retail/Specialty	20		86,491		21,660	3Q 16
		2,757,000			$	455,413	$	168,707

Lexington has a 25% interest as of June 30, 2015. Lexington may provide construction financing up to $56.7 million to the joint venture.

Lexington also invested $8.4 million in an 11.5% loan that matures in October 2015 to a tenant-in-common. The loan is secured by the tenant-in-common's interest in an office property in which Lexington has a 40% interest.

In addition, Lexington has committed to acquire the following properties upon completion of construction.

Forward Commitments

Location	Property Type	Estimated Acquisition Cost ($000)		Lease Term (Years)	Estimated Initial Cash Yield			Estimated GAAP Yield			Estimated Acquisition Date
Richland, WA	LTL - Industrial	$	155,000	20		7.1	%		8.6	%	4Q 15
Detroit, MI	LTL - Industrial		29,680	20		7.4	%		7.4	%	1Q 16
		$	184,680			7.2	%		8.4	%

Capital Recycling

Property Dispositions

Tenant	Location	Property Type	Gross Disposition Price ($000)		Annualized NOI ($000)		Month of Disposition
Alta Resources Corp.	Fort Myers, FL	Office	$	12,400	$	901	April
Multi-tenant	Orlando, FL	LTL - Office		64,675		5,174	June
			$	77,075	$	6,075

Lexington collected $3.5 million in full satisfaction of the Austin, Texas loan investment, including yield maintenance.

Balance Sheet

During the second quarter of 2015, Lexington satisfied $30.1 million of consolidated secured debt with a weighted-average interest rate of 5.1%, unencumbering six properties with estimated 2015 annual net operating income of approximately $8.6 million.

In April 2015, holders converted approximately $2.8 million original principal amount 6.00% Convertible Guaranteed Notes due 2030 (“6.00% Notes”) for 428,707 common shares, reducing the outstanding balance of this note issuance to $12.8 million. All common shares that are issuable upon conversion of the 6.00% Notes are treated as outstanding for diluted Company FFO calculations.

On July 2, 2015, Lexington announced a new 10.0 million common share repurchase authorization (inclusive of all outstanding prior authorizations). Under this authorization, 150,000 common shares have been purchased at an average price of $8.58 per share. In connection with the authorization, Lexington declared a cash dividend of $0.8125 per share on its Series C Preferred Shares, which will be paid on November 16, 2015 to Series C Preferred Shareholders of record as of October 30, 2015.

Leasing

During the second quarter of 2015, Lexington executed the following new and extended leases:

	LEASE EXTENSIONS

	Location	Prior Term	Lease Expiration Date	Sq. Ft.

	Office/Multi-Tenant Office

1	Temple, TX	01/2016	01/2021	54,117
2	Oklahoma City, OK⁽¹⁾	11/2015	11/2020	103,500
3	Phoenix, AZ	12/2029	12/2032	252,400
4-5	Various	2015	2017	4,044
5	Total office lease extensions			414,061

	Industrial/Multi-Tenant Industrial

1	Henderson, NC	06/2016	06/2018	196,946
2	Byhalia, MS	03/2026	03/2030	513,734
3-4	Antioch, TN	2015	2017-2018	15,696
4	Total industrial lease extensions			726,376

9	Total lease extensions			1,140,437

	NEW LEASES

	Location		Lease Expiration Date	Sq. Ft.

	Office/Multi-Tenant Office
1	Lakewood, CO		07/2030	68,165
2-4	Various		2018-2023	7,394
4	Total new office leases			75,559

	Industrial/Multi-Tenant Industrial
1	Antioch, TN		09/2025	117,600
1	Total new industrial leases			117,600

5	Total new leases			193,159

14	TOTAL NEW AND EXTENDED LEASES			1,333,596

(1) Lexington has a 40% interest.

2015 EARNINGS GUIDANCE

Lexington is raising its Company FFO guidance by $0.01 per share to an expected range of $1.02 to $1.06 per diluted share for the year ended December 31, 2015. This guidance is forward looking, excludes the impact of certain items and is based on current expectations.

SECOND QUARTER 2015 CONFERENCE CALL

Lexington will host a conference call today, Tuesday, August 4, 2015, at 11:00 a.m. Eastern Time, to discuss its results for the quarter ended June 30, 2015. Interested parties may participate in this conference call by dialing 877-407-0789 or 201-689-8562. A replay of the call will be available through August 18, 2015, at 877-870-5176 or 858-384-5517, pin: 13614059. A live webcast of the conference call will be available at www.lxp.com within the Investors section.

ABOUT LEXINGTON REALTY TRUST

Lexington Realty Trust is a real estate investment trust that owns a diversified portfolio of equity and debt interests in single-tenant commercial properties and land. Lexington seeks to expand its portfolio through acquisitions, sale-leaseback transactions, build-to-suit arrangements and other transactions. A majority of these properties and all land interests are subject to net or similar leases, where the tenant bears all or substantially all of the operating costs, including cost increases, for real estate taxes, utilities, insurance and ordinary repairs. Lexington also provides investment advisory and asset management services to investors in the single-tenant area. Lexington 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, One Penn Plaza, Suite 4015, New York, New York 10119-4015, Attention: Investor Relations.

Contact:

Investor or Media Inquiries, T. Wilson Eglin, CEO

Lexington Realty Trust

Phone: (212) 692-7200 E-mail: tweglin@lxp.com

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under Lexington's control which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings “Management's Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Lexington's periodic reports filed with the Securities and Exchange Commission, including risks related to: (1) the authorization by Lexington's Board of Trustees of future dividend declarations, including those necessary to achieve an annualized dividend level of $0.68 per common share/unit, (2) Lexington's ability to achieve its estimate of Company FFO for the year ending December 31, 2015, (3) the successful consummation of any lease, acquisition, build-to-suit, financing or other transaction, (4) the failure to continue to qualify as a real estate investment trust, (5) changes in general business and economic conditions, including the impact of any legislation, (6) competition, (7) increases in real estate construction costs, (8) changes in interest rates, (9) changes in accessibility of debt and equity capital markets, and (10) future impairment charges. Copies of the periodic reports Lexington files with the Securities and Exchange Commission are available on Lexington's web site at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe Lexington's future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects”, “may,” “plans,” “predicts,” “will,” “will likely result,” “is optimistic,” “goal,” “objective” or similar expressions. Except as required by law, Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington's expectations will be realized.

References to Lexington refer to Lexington Realty Trust and its consolidated subsidiaries. All interests in properties and loans are held through special purpose entities, which are separate and distinct legal entities, some of which are consolidated for financial statement purposes and/or disregarded for income tax purposes.

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited and in thousands, except share and per share data)

	Three months ended June 30,						Six months ended June 30,
	2015			2014			2015			2014
Gross revenues:
Rental	$	102,440		$	97,564		$	202,456		$	193,929
Tenant reimbursements		7,893			7,883			16,319			15,534
Total gross revenues		110,333			105,447			218,775			209,463
Expense applicable to revenues:
Depreciation and amortization		(41,808	)		(37,763	)		(82,083	)		(75,710	)
Property operating		(15,534	)		(15,449	)		(32,116	)		(31,130	)
General and administrative		(7,971	)		(6,631	)		(15,792	)		(14,609	)
Non-operating income		3,084			3,079			5,698			6,152
Interest and amortization expense		(23,339	)		(25,319	)		(46,342	)		(49,135	)
Debt satisfaction gains (charges), net		3,776			(4,187	)		14,151			(7,491	)
Impairment charges		(113	)		—			(1,252	)		(16,400	)
Gains on sales of properties		21,426			—			21,574			—
Income before benefit (provision) for income taxes, equity in earnings (losses) of non-consolidated entities and discontinued operations		49,854			19,177			82,613			21,140
Benefit (provision) for income taxes		52			(284	)		(389	)		(875	)
Equity in earnings (losses) of non-consolidated entities		306			(209	)		672			73
Income from continuing operations		50,212			18,684			82,896			20,338
Discontinued operations:
Income (loss) from discontinued operations		(1	)		1,793			109			4,279
Provision for income taxes		(4	)		(19	)		(4	)		(36	)
Debt satisfaction charges, net		—			(299	)		—			(299	)
Gains on sales of properties		—			3,510			1,577			3,510
Impairment charges		—			(8,382	)		—			(10,691	)
Total discontinued operations		(5	)		(3,397	)		1,682			(3,237	)
Net income		50,207			15,287			84,578			17,101
Less net income attributable to noncontrolling interests		(875	)		(837	)		(1,741	)		(1,765	)
Net income attributable to Lexington Realty Trust shareholders		49,332			14,450			82,837			15,336
Dividends attributable to preferred shares – Series C		(1,573	)		(1,573	)		(3,145	)		(3,145	)
Allocation to participating securities		(105	)		(135	)		(192	)		(287	)
Net income attributable to common shareholders	$	47,654		$	12,742		$	79,500		$	11,904
Income (loss) per common share – basic:
Income from continuing operations	$	0.20		$	0.07		$	0.33		$	0.07
Income (loss) from discontinued operations		—			(0.02	)		0.01			(0.02	)
Net income attributable to common shareholders	$	0.20		$	0.05		$	0.34		$	0.05
Weighted-average common shares outstanding – basic		233,812,062			228,368,053			233,172,422			227,765,718
Income (loss) per common share – diluted:
Income from continuing operations	$	0.20		$	0.07		$	0.33		$	0.07
Income (loss) from discontinued operations		—			(0.02	)		0.01			(0.02	)
Net income attributable to common shareholders	$	0.20		$	0.05		$	0.34		$	0.05
Weighted-average common shares outstanding – diluted		239,903,370			228,851,184			239,559,842			228,275,608
Amounts attributable to common shareholders:
Income from continuing operations	$	47,659		$	16,158		$	77,818		$	15,179
Income (loss) from discontinued operations		(5	)		(3,416	)		1,682			(3,275	)
Net income attributable to common shareholders	$	47,654		$	12,742		$	79,500		$	11,904

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited and in thousands, except share and per share data)

	June 30, 2015			December 31, 2014
Assets:
Real estate, at cost	$	3,734,513		$	3,671,560
Real estate - intangible assets		721,571			705,566
Investments in real estate under construction		147,047			106,238
		4,603,131			4,483,364
Less: accumulated depreciation and amortization		1,220,203			1,196,114
Real estate, net		3,382,928			3,287,250
Assets held for sale		33,364			3,379
Cash and cash equivalents		64,382			191,077
Restricted cash		12,844			17,379
Investment in and advances to non-consolidated entities		28,241			19,402
Deferred expenses, net		63,780			65,860
Loans receivable, net		108,309			105,635
Rent receivable – current		8,523			6,311
Rent receivable – deferred		79,513			61,372
Other assets		26,113			20,229
Total assets	$	3,807,997		$	3,777,894

Liabilities and Equity:
Liabilities:
Mortgages and notes payable	$	865,860		$	945,216
Credit facility borrowings		93,000			—
Term loans payable		505,000			505,000
Senior notes payable		497,811			497,675
Convertible notes payable		12,464			15,664
Trust preferred securities		129,120			129,120
Dividends payable		43,628			42,864
Liabilities held for sale		20,801			2,843
Accounts payable and other liabilities		43,070			37,740
Accrued interest payable		9,235			8,301
Deferred revenue - including below market leases, net		44,328			68,215
Prepaid rent		16,589			16,336
Total liabilities		2,280,906			2,268,974

Commitments and contingencies
Equity:
Preferred shares, par value $0.0001 per share; authorized 100,000,000 shares:
Series C Cumulative Convertible Preferred, liquidation preference $96,770; 1,935,400 shares issued and outstanding		94,016			94,016
Common shares, par value $0.0001 per share; authorized 400,000,000 shares, 235,940,610 and 233,278,037 shares issued and outstanding in 2015 and 2014, respectively		24			23
Additional paid-in-capital		2,784,423			2,763,374
Accumulated distributions in excess of net income		(1,372,170	)		(1,372,051	)
Accumulated other comprehensive income (loss)		(2,226	)		404
Total shareholders’ equity		1,504,067			1,485,766
Noncontrolling interests		23,024			23,154
Total equity		1,527,091			1,508,920
Total liabilities and equity	$	3,807,997		$	3,777,894

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

EARNINGS PER SHARE

(Unaudited and in thousands, except share and per share data)

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015		2014
EARNINGS PER SHARE:
Basic:
Income from continuing operations attributable to common shareholders	$	47,659		$	16,158		$	77,818	$	15,179
Income (loss) from discontinued operations attributable to common shareholders		(5	)		(3,416	)		1,682		(3,275	)
Net income attributable to common shareholders	$	47,654		$	12,742		$	79,500	$	11,904
Weighted-average number of common shares outstanding		233,812,062			228,368,053			233,172,422		227,765,718
Income (loss) per common share:
Income from continuing operations	$	0.20		$	0.07		$	0.33	$	0.07
Income (loss) from discontinued operations		—			(0.02	)		0.01		(0.02	)
Net income attributable to common shareholders	$	0.20		$	0.05		$	0.34	$	0.05

Diluted:
Income from continuing operations attributable to common shareholders - basic	$	47,659		$	16,158		$	77,818	$	15,179
Impact of assumed conversions		764			—			1,633		—
Income from continuing operations attributable to common shareholders		48,423			16,158			79,451		15,179
Income (loss) from discontinued operations attributable to common shareholders - basic		(5	)		(3,416	)		1,682		(3,275	)
Impact of assumed conversions		—			—			—		—
Income (loss) from discontinued operations attributable to common shareholders		(5	)		(3,416	)		1,682		(3,275	)
Net income attributable to common shareholders	$	48,418		$	12,742		$	81,133	$	11,904

Weighted-average common shares outstanding - basic		233,812,062			228,368,053			233,172,422		227,765,718
Effect of dilutive securities:
Share options		296,501			483,131			369,079		509,890
6.00% Convertible Guaranteed Notes		1,941,833			—			2,165,367		—
Operating Partnership Units		3,852,974			—			3,852,974		—
Weighted-average common shares outstanding		239,903,370			228,851,184			239,559,842		228,275,608

Income (loss) per common share:
Income from continuing operations	$	0.20		$	0.07		$	0.33	$	0.07
Income (loss) from discontinued operations		—			(0.02	)		0.01		(0.02	)
Net income attributable to common shareholders	$	0.20		$	0.05		$	0.34	$	0.05

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

COMPANY FUNDS FROM OPERATIONS & FUNDS AVAILABLE FOR DISTRIBUTION

(Unaudited and in thousands, except share and per share data)

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
FUNDS FROM OPERATIONS: ⁽¹⁾
Basic and Diluted:
Net income attributable to common shareholders	$	47,654		$	12,742		$	79,500		$	11,904
Adjustments:
Depreciation and amortization		40,467			39,022			79,389			78,961
Impairment charges - real estate, including non-consolidated entities		113			9,032			1,252			27,741
Noncontrolling interests - OP units		540			533			1,090			1,114
Amortization of leasing commissions		1,341			1,472			2,693			2,926
Joint venture and noncontrolling interest adjustment		437			605			758			1,238
Gains on sales of properties		(21,426	)		(3,510	)		(23,151	)		(3,510	)
FFO available to common shareholders and unitholders - basic		69,126			59,896			141,531			120,374
Preferred dividends		1,573			1,573			3,145			3,145
Interest and amortization on 6.00% Convertible Guaranteed Notes		224			531			543			1,110
Amount allocated to participating securities		105			135			192			287
FFO available to common shareholders and unitholders - diluted		71,028			62,135			145,411			124,916
Debt satisfaction (gains) charges, net, including non-consolidated entities		(3,712	)		4,486			(14,087	)		7,790
Other / Transaction costs		(294	)		945			174			1,257
Company FFO available to common shareholders and unitholders - diluted		67,022			67,566			131,498			133,963

FUNDS AVAILABLE FOR DISTRIBUTION: ⁽²⁾
Adjustments:
Straight-line rents		(17,034	)		(17,002	)		(22,343	)		(17,579	)
Lease incentives		488			417			945			854
Amortization of below/above market leases		177			455			(444	)		719
Non-cash interest, net		1,753			(1,210	)		1,118			(2,362	)
Non-cash charges, net		2,147			2,148			4,403			4,449
Tenant improvements		(1,541	)		(1,580	)		(2,622	)		(3,999	)
Lease costs		(1,756	)		(2,534	)		(3,176	)		(6,519	)
Company Funds Available for Distribution	$	51,256		$	48,260		$	109,379		$	109,526

Per Common Share and Unit Amounts
Basic:
FFO	$	0.29			0.26		$	0.60		$	0.52

Diluted:
FFO	$	0.29		$	0.26		$	0.60		$	0.52
Company FFO	$	0.27		$	0.28		$	0.54		$	0.56
Company FAD	$	0.21		$	0.20		$	0.45		$	0.45

Weighted-Average Common Shares:
Basic⁽³⁾		237,665,036			232,246,465			237,025,396			231,645,370
Diluted		244,697,575			241,447,640			244,379,606			241,037,724

¹ Lexington believes that Funds from Operations (“FFO”), which is not a measure under generally accepted accounting principles (“GAAP”), is a widely recognized and appropriate measure of the performance of an equity REIT. Lexington believes FFO is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results. FFO is intended to exclude GAAP historical cost depreciation and amortization of real estate and related assets, which assumes that the value of real estate diminishes ratably over time. Historically, however, real estate values have risen or fallen with market conditions. As a result, FFO provides a performance measure that, when compared year over year, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, development activities, interest costs and other matters without the inclusion of depreciation and amortization, providing perspective that may not necessarily be apparent from net income.

The National Association of Real Estate Investment Trusts, Inc. (“NAREIT”) defines FFO as “net income (or loss) computed in accordance with GAAP, excluding gains (or losses) from sales of property, plus real estate depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures.” NAREIT clarified its computation of FFO to exclude impairment charges on depreciable real estate owned directly or indirectly. FFO does not represent cash generated from operating activities in accordance with GAAP and is not indicative of cash available to fund cash needs.

Lexington presents FFO available to common shareholders and unitholders - basic. Lexington also presents FFO available to common shareholders and unitholders - diluted on a company-wide basis as if all securities that are convertible, at the holder's option, into Lexington's common shares, are converted at the beginning of the period. Lexington also presents Company FFO which adjusts FFO for certain items which Management believes are not indicative of the operating results of its real estate portfolio. Management believes this is an appropriate presentation as it is frequently requested by security analysts, investors and other interested parties. Since others do not calculate funds from operations in a similar fashion, Company FFO may not be comparable to similarly titled measures as reported by others. Company FFO should not be considered as an alternative to net income as an indicator of our operating performance or as an alternative to cash flow as a measure of liquidity.

²Company Funds Available for Distribution ("FAD") is calculated by making adjustments to Company FFO for (1) straight-line rent revenue, (2) lease incentive amortization, (3) amortization of above/below market leases, (4) cash paid for tenant improvements, (5) cash paid for lease costs, (6) non-cash interest, net and (7) non-cash charges, net. Although FAD may not be comparable to that of other REITs, Lexington believes it provides a meaningful indication of its ability to fund cash needs. FAD is a non-GAAP financial measure and should not be viewed as an alternative measurement of operating performance to net income, as an alternative to net cash flows from operating activities or as a measure of liquidity.

³ Includes OP units.

# # #

LEXINGTON REALTY TRUST

2015 Second Quarter Investment / Capital Recycling Summary

PROPERTY INVESTMENTS - LONG TERM LEASES ("LTL")⁽¹⁾

Tenant (Guarantor)

Location

Property Type

Initial Basis
($000)

Initial Annualized
Cash Rent ($000)

Initial Cash
Yield

Initial
GAAP
Yield

Month Closed

Lease
Expiration

Hollander Sleep Products, LLC (Hollander Home Fashions Holdings)

Thomson

LTL - Industrial

10,144

836

8.2

9.2

May

05/2030

EXPANSIONS

Tenant (Guarantor)

Location

Property Type

Square Feet

Cost Basis ($000)

Asics America Corporation (Asics Corporation)

Byhalia

LTL - Industrial

342,144

15,300

⁽²⁾

United Technologies Corporation

North Berwick

Industrial

21,060

3,262

TOTAL PROPERTY EXPANSIONS

363,204

LOAN INVESTMENT

Property Type

Location

Loan Amount

Interest Rate

Maturity Date

Office

Oklahoma City

8,420

11.5

10/2015

CAPITAL RECYCLING

	PROPERTY DISPOSITIONS
	Tenant	Location		Property Type	Gross Disposition Price ($000)		Annualized NOI ($000)		Month of Disposition	% Leased			Gross Disposition Price PSF
1	Alta Resources, Corp.	Fort Myers	FL	Office	$	12,400	$	901	April		100.0	%	$	196.01
2	Multi-Tenant	Orlando	FL	LTL - Office		64,675		5,174	June		99.7	%	$	180.46

2	TOTAL PROPERTY DISPOSITIONS				$	77,075	$	6,075

LOAN INVESTMENT SATISFACTION

Property Type

Location

Satisfaction
($000)

Month of
Satisfaction

Retail ⁽³⁾

Austin

3,545

June

Footnotes

(1)

In addition, Lexington foreclosed on a loan investment and acquired the vacant office property collateral located in Southfield, MI. Lexington also acquired a 3.5 acre land parcel in Canonsburg, PA, for $650 thousand.

(2)

Expansion substantially complete as of 6/30/2015; however, additional tenant build-out still in progress. Lexington's maximum cost is $15.3 million.

(3)

Includes yield maintenance.

LEXINGTON REALTY TRUST

BUILD-TO-SUIT PROJECTS / FORWARD COMMITMENTS

6/30/2015

BUILD-TO-SUIT PROJECTED FUNDING SCHEDULE - LONG TERM LEASES (1)

	Location		Sq. Ft		Asset Type	Lease Term (Years)	Maximum Commitment/Estimated Completion Cost ($000)		Investment balance as of 6/30/15 ($000)		Estimated Cash Investment Next 12 Months ($000)								Estimated Completion/ Acquisition Date	Estimated Initial Cash Yield			Estimated GAAP Yield
											Q3 2015		Q4 2015		Q1 2016		Q2 2016
1	Oak Creek	WI		164,000	LTL - Industrial	20	$	22,609	$	18,444	$	3,743	$	-	$	-	$	-	3Q 15		8.3	%		9.3	%
2	Richmond	VA		330,000	LTL - Office	15		110,137		89,015		19,134		-		-		-	3Q 15		8.0	%		8.6	%
3	Anderson	SC		1,325,000	LTL - Industrial	20		70,012		7,133		12,605		16,626		16,626		16,626	2Q16		5.9	%		7.3	%
4	Lake Jackson	TX		664,000	LTL - Office	20		166,164		32,455		21,600		24,000		24,000		24,000	4Q 16		7.3	%		8.9	%
4	TOTAL CONSOLIDATED BUILD-TO-SUIT PROJECTS (2)						$	368,922	$	147,047	$	57,082	$	40,626	$	40,626	$	40,626

1	Houston (3)	TX		274,000	LTL - Retail/Specialty	20	$	86,491	$	21,660	$	5,737	$	12,147	$	12,147	$	12,147	3Q 16		7.5	%		7.5	%
1	TOTAL NON-CONSOLIDATED BUILD-TO-SUIT PROJECTS						$	86,491	$	21,660	$	5,737	$	12,147	$	12,147	$	12,147

5	TOTAL BUILD-TO-SUIT PROJECTS						$	455,413	$	168,707	$	62,819	$	52,773	$	52,773	$	52,773

FORWARD COMMITMENTS - LONG TERM LEASES (1)

	Tenant	Location	Property Type	Sq. Ft.		Estimated Acquisition Cost ($000)		Estimated Completion/ Acquisition Date	Estimated Initial Cash Yield			Estimated GAAP Yield			Lease Term
1	Preferred Freezer Services of Richland LLC (4)	Richland, WA	LTL - Industrial		456,412	$	155,000	4Q 15		7.1	%		8.6	%	20 yrs
2	Chrysler Group LLC (5)	Detroit, MI	LTL - Industrial		189,960		29,680	1Q 16		7.4	%		7.4	%	20 yrs
2	TOTAL FORWARD COMMITMENTS				646,372	$	184,680			7.2	%		8.4	%

BUILD-TO-SUIT NOI (6)

		2011				2012				2013				2014				2Q 2015
Net operating income ($000)		$	1,156			$	5,268			$	11,920			$	21,438			$	12,798

Footnotes

(1)

Lexington can give no assurance that any of the build-to-suit projects or other potential investments that are under commitment or contract or in process will be completed.

(2)

Investment balance in accordance with GAAP included in investment in real estate under construction. Aggregate equity invested is $152.3 million.

(3)

Lexington has a 25% interest as of June 30, 2015. Lexington may provide construction financing up to $56.7 million to the joint venture. Estimated cash investments for next 12 months are Lexington's estimated contributions / loan amounts. Lease contains annual CPI increases.

(4)

Lexington provided a $10.0 million letter of credit.

(5)

Lexington funded a $2.5 million deposit.

(6)

Net operating income generated from completed build-to-suit projects funded by Lexington beginning in 2010.

LEXINGTON REALTY TRUST

2015 Second Quarter Financing Summary

DEBT RETIRED

Location	Tenant (Guarantor)	Property Type	Face / Satisfaction ($000)		2015 Estimated Property NOI ($000)		Fixed Rate			Maturity Date

Consolidated Mortgage Debt:
Mission, TX	VoiceStream PCS II Corporation / T-Mobile West Corporation	Office	$	5,371	$	994		5.783	%	06/2015
Owensboro, KY	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)	Industrial		4,702		1,208		4.990	%	07/2015
Elizabethtown, KY	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)	Industrial		8,531		2,838		4.990	%	07/2015
Elizabethtown, KY	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)	Industrial		1,553		537		4.990	%	07/2015
Hopkinsville, KY	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)	Industrial		4,964		1,687		4.990	%	07/2015
Dry Ridge, KY	Dana Light Axle Products, LLC (Dana Holding Corporation and Dana Limited)	Industrial		5,008		1,346		4.990	%	07/2015
			$	30,129	$	8,610
Corporate Debt:
6% Convertible Notes	N/A	N/A	$	2,828		N/A		6.000	%	01/2017

Non-Consolidated Mortgage Debt:
Oklahoma City, OK (1)	AT&T Corp. / AT&T Services, Inc. / New Cingular Wireless Services, Inc.	Office	$	13,673	$	1,528		5.240	%	05/2015

Footnotes

(1)

Lexington has a 40% interest in the property.

LEXINGTON REALTY TRUST

2015 Second Quarter Leasing Summary

LEASE EXTENSIONS

	Tenant (Guarantor)	Location		Prior Term	Lease Expiration Date	Sq. Ft.		New Cash Rent Per Annum ($000)(1)		Prior Cash Rent Per Annum ($000)		New GAAP Rent Per Annum ($000)(1)		Prior GAAP Rent Per Annum ($000)

	Office / Multi-Tenant Office
1	Nextel of Texas, Inc. (Nextel Finance Company)	Temple	TX	01/2016	01/2021		54,117	$	798	$	833	$	917	$	670
2	AT&T Corp. / AT&T Services, Inc. / New Cingular Wireless Services, Inc. (2)	Oklahoma City	OK	11/2015	11/2020		103,500		1,371		1,294		1,331		1,288
3	CopperPoint Mutual Insurance Company	Phoenix	AZ	12/2029	12/2032		252,400		6,075		6,075		5,056		4,845
4-5	Various	Various		2015	2017		4,044		72		90		72		90

5	Total office lease extensions						414,061	$	8,316	$	8,292	$	7,376	$	6,893

	Industrial / Multi-Tenant Industrial
1	Staples, Inc.	Henderson	NC	06/2016	06/2018		196,946	$	886	$	837	$	860	$	812
2	Asics America Corporation (Asics Corporation)	Byhalia	MS	03/2026	03/2030		513,734		3,427		3,360		3,094		2,936
3-4	Various	Antioch	TN	04/2015	2017 - 2018		15,696		205		181		205		181

4	Total industrial lease extensions						726,376	$	4,518	$	4,378	$	4,159	$	3,929

9	TOTAL EXTENDED LEASES						1,140,437	$	12,834	$	12,670	$	11,535	$	10,822

NEW LEASES

	Tenant (Guarantor)	Location			Lease Expiration Date	Sq. Ft.		New Cash Rent Per Annum ($000)(1)				New GAAP Rent Per Annum ($000)(1)
	Office/Multi-Tenant Office
1	Addenbrooke Classical Academy	Lakewood	CO		07/2030		68,165	$	385			$	939
2	Garden of Life, LLC (Atrium Innovations, Inc.)	Palm Beach Gardens	FL		04/2023		4,604		99				95
3-4	Various	Various	HI / PA		2018 - 2020		2,790		55				55

4	Total office new leases						75,559	$	539			$	1,089

	Industrial / Multi-Tenant Industrial
1	TWB Company LLC	Antioch	TN		09/2025		117,600	$	380			$	408

1	Total industrial new lease						117,600	$	380			$	408

5	TOTAL NEW LEASES						193,159	$	919			$	1,497

14	TOTAL NEW AND EXTENDED LEASES						1,333,596	$	13,753			$	13,032

LEXINGTON REALTY TRUST

2015 Second Quarter Leasing Summary (Continued)

LEASE NON-RENEWALS (3)

	Tenant (Guarantor)	Location		Lease Expiration Date	Sq. Ft.		2014 Cash Rent ($000)		2014 GAAP Rent ($000)
	Office
1	Invensys Systems, Inc. (Siebe, Inc.)	Foxboro	MA	06/2015		164,689	$	3,747	$	3,747
2	Nextel of Texas, Inc. (Nextel Finance Company) ⁽⁴⁾	Temple	TX	01/2016		54,683		842		677

	Industrial
3	SKF USA, Inc.	Franklin	NC	06/2015		72,868		456		271

3	TOTAL LEASE NON-RENEWALS					292,240	$	5,045	$	4,695

Footnotes

(1)

Assumes twelve months rent from the later of 7/1/15 or lease commencement/extension, excluding free rent periods as applicable.

(2)

Lexington has a 40% interest in the property.

(3)

Excludes multi-tenant properties.

(4)

The tenant renewed its lease for only 54,117 square feet out of 108,800 square feet.

LEXINGTON REALTY TRUST

Other Revenue Data

6/30/2015

($000)

Other Revenue Data

	GAAP Base Rent
Asset Class	Six months ended
	6/30/15 (1)		6/30/15 Percentage			6/30/14 Percentage
Long-Term Leases⁽²⁾	$	80,509		40.5	%		39.7	%
Office		67,952		34.1	%		38.3	%
Industrial		30,541		15.3	%		13.5	%
Multi-tenant		15,676		7.9	%		6.6	%
Retail/Specialty		4,376		2.2	%		1.9	%
	$	199,054		100.0	%		100.0	%

	GAAP Base Rent
Long-Term Leases ⁽²⁾	Six months ended
	6/30/15 (1)		6/30/15 Percentage			6/30/14 Percentage
Land / Infrastructure	$	30,644		38.1	%		34.1	%
Office		27,577		34.2	%		41.6	%
Industrial		20,356		25.3	%		22.6	%
Retail/Specialty		1,932		2.4	%		1.7	%
	$	80,509		100.0	%		100.0	%

	GAAP Base Rent
Asset Class ⁽³⁾	Six months ended
	6/30/15 (1)		6/30/15 Percentage			6/30/14 Percentage
Land/ Infrastructure	$	30,644		15.4	%		13.5	%
Office		95,529		48.0	%		54.8	%
Industrial		50,897		25.6	%		22.5	%
Multi-Tenant		15,676		7.9	%		6.6	%
Retail/Specialty		6,308		3.1	%		2.6	%
	$	199,054		100.0	%		100.0	%

	GAAP Base Rent
Credit Ratings ⁽⁴⁾	Six months ended
	6/30/15 (1)		6/30/15 Percentage			6/30/14 Percentage
Investment Grade	$	71,219		35.8	%		38.5	%
Non-Investment Grade		27,414		13.8	%		11.3	%
Unrated		100,421		50.4	%		50.2	%
	$	199,054		100.0	%		100.0	%

Footnotes

(1)

Six months ended 6/30/2015 GAAP base rent recognized for consolidated properties owned as of 6/30/2015.

(2)

Long-term leases are defined as leases having a term of ten years or longer.

(3)

Long-term leases included and reclassified by property type.

(4)

Credit ratings are based upon either tenant, guarantor or parent. Generally, multi-tenant assets are included in unrated.

LEXINGTON REALTY TRUST

Other Revenue Data (Continued)

6/30/2015

($000)

Weighted-Average Lease Term - Cash Basis		As of 6/30/15		As of 6/30/14
		12.2 years		11.3 years

Weighted-Average Lease Term - Cash Basis - Adjusted⁽¹⁾	As of 6/30/15	As of 6/30/14
	8.7 years	8.4 years

Base Rent Estimates for Current Assets

Year	Cash ⁽²⁾		GAAP ⁽²⁾		Projected Straight- line / GAAP Rent Adjustment
2015-remaining	$	171,737	$	196,893	$	(25,156	)
2016	$	341,009	$	382,894	$	(41,885	)

Same-Store NOI (3)(4)

	Three months ended June 30,						Six months ended June 30,
	2015			2014			2015			2014
Total Base Rent	$	78,564		$	78,217		$	164,241		$	166,319
Tenant Reimbursements		7,696			7,519			15,818			15,115
Property Operating Expenses		(14,211	)		(13,198	)		(28,832	)		(27,164	)
Same-Store NOI	$	72,049		$	72,538		$	151,227		$	154,270

Change in Same-Store NOI		(0.7)	%					(2.0)	%


Same-Store Percent Leased (4)	As of 6/30/15		As of 6/30/14
	97.2	%	98.6	%

Lease Escalation Data (5)

Footnotes

(1)

Adjusted to reflect NY land leases to first purchase option date.

(2)

Amounts assume (1) lease terms for non-cancellable periods only and (2) no new or renegotiated leases are entered into after 6/30/2015.

(3)

NOI is on a consolidated cash basis. Excludes potential foreclosures.

(4)

Excludes potential foreclosures on Rochester, NY and Bridgewater, NJ properties.

(5)

Based on six months consolidated Cash base rents for single-tenant leases. Excludes parking operations and $3.1 million in step-down leases.

LEXINGTON REALTY TRUST

Portfolio Detail By Asset Class

6/30/2015

( $000, except square footage)

Asset Class	YE 2012			YE 2013			YE 2014			2Q 2015

Office
% of ABR (1)		64.3	%		61.3	%		51.4	%		48.0	%
LTL		22.4	%		26.8	%		31.8	%		28.9	%
STL		77.6	%		73.2	%		68.2	%		71.1	%
Leased		98.6	%		99.0	%		98.6	%		98.9	%
Wtd. Avg. Lease Term (2)		6.6			7.2			7.4			7.3
Mortgage Debt	$	1,078,345		$	692,460		$	426,635		$	338,647
% Investment Grade (1)		62.1	%		57.2	%		53.7	%		50.2	%
Square Feet		15,726,609			15,316,875			13,264,134			12,701,508
Cash Rent	$	198,183		$	214,774		$	192,865		$	93,826

Industrial
% of ABR (1)		22.9	%		23.2	%		23.0	%		25.6	%
LTL		33.7	%		35.2	%		42.8	%		40.0	%
STL		66.3	%		64.8	%		57.2	%		60.0	%
Leased		99.6	%		99.8	%		99.7	%		99.6	%
Wtd. Avg. Lease Term (2)		7.5			7.2			7.9			8.2
Mortgage Debt	$	221,055		$	206,209		$	177,951		$	185,352
% Investment Grade (1)		23.1	%		34.1	%		29.3	%		30.6	%
Square Feet		21,317,359			21,473,994			22,612,691			25,109,517
Cash Rent	$	70,600		$	84,039		$	89,991		$	50,930

Land/Infrastructure
% of ABR (1)		0.5	%		4.9	%		14.3	%		15.4	%
LTL		100.0	%		100.0	%		100.0	%		100.0	%
STL		0.0	%		0.0	%		0.0	%		0.0	%
Leased		100.0	%		100.0	%		100.0	%		100.0	%
Wtd. Avg. Lease Term (2)		19.1			72.7			73.1			71.0
Wtd. Avg. Lease Term Adjusted (3)		19.1			23.7			22.8			23.2
Mortgage Debt	$	-		$	213,500		$	213,475		$	242,594
% Investment Grade (1)		0.0	%		0.2	%		0.4	%		0.4	%
Cash Rent	$	1,219		$	9,259		$	22,717		$	12,673

Multi-Tenant
% of ABR (1)		9.0	%		7.9	%		8.7	%		7.9	%
Leased		67.4	%		66.4	%		53.9	%		52.3	%
Wtd. Avg. Lease Term (2)		7.1			7.0			6.9			6.1
Mortgage Debt	$	102,582		$	71,754		$	116,763		$	86,352
% Investment Grade (1)		33.2	%		34.5	%		19.3	%		42.2	%
Square Feet		2,396,631			2,259,189			2,414,889			2,738,578
Cash Rent	$	25,169		$	27,941		$	34,458		$	15,066

Retail/Specialty
% of ABR (1)		3.3	%		2.7	%		2.6	%		3.1	%
LTL		15.3	%		21.0	%		28.1	%		30.6	%
STL		84.7	%		79.0	%		71.9	%		69.4	%
Leased		99.3	%		98.5	%		94.3	%		97.9	%
Wtd. Avg. Lease Term (2)		8.0			7.2			9.1			8.6
Mortgage Debt	$	13,979		$	13,566		$	13,170		$	12,915
% Investment Grade (1)		22.0	%		18.7	%		22.4	%		15.4	%
Square Feet		1,755,608			1,489,267			1,447,724			1,395,517
Cash Rent	$	8,186		$	7,947		$	8,948		$	3,969

Loans Receivable	$	72,540		$	99,443		$	105,635		$	108,309
Construction in progress (4)	$	71,634		$	78,656		$	121,184		$	152,579

Footnotes

(1) Percentage of GAAP base rent.

(2) Cash basis.

(3) Cash basis adjusted to reflect NY land leases to first purchase option date.

(4) Includes development classified as real estate under construction on a consolidated basis.

LEXINGTON REALTY TRUST

Portfolio Composition

6/30/2015

Footnotes

(1) Based on gross book value of assets as of 6/30/2015.

(2) Based on six months GAAP base rent as of 6/30/2015.

LEXINGTON REALTY TRUST

Components of Net Asset Value

6/30/2015

($000)

The purpose of providing the following information is to enable readers to derive their own estimate of net asset value. This information is not intended to be an asset-by-asset or enterprise valuation.

Consolidated properties six month cash net operating income (NOI) (1)
Land/ Infrastructure	$	12,703
Office		87,313
Industrial		52,350
Multi-Tenant		5,785
Retail/Specialty		4,579
Total Net Operating Income	$	162,730

Lexington's share of non-consolidated six month NOI (1)
Land/Infrastructure	$	134
Office		1,194
Retail/Specialty		607
	$	1,935
Other income
Advisory fees	$	105

In service assets not fairly valued by capitalized NOI method (1)
Wholly-owned assets	$	116,832

Add other assets:
Loans receivable	$	108,309
Development investment at cost incurred		165,291
Cash and cash equivalents		64,382
Restricted cash		12,844
Accounts receivable, net		8,523
Other assets		26,113
Total other assets	$	385,462

Liabilities:
Corporate level debt	$	1,237,395
Mortgages and notes payable		865,860
Dividends payable		43,628
Accounts payable, accrued expenses and other liabilities		68,894
Preferred stock, at liquidation value		96,770
Lexington's share of non-consolidated mortgages		8,647
Total deductions	$	2,321,194

Common shares & OP units at 6/30/2015		239,793,584

Footnotes

(1)

Six months ended June 30, 2015 Cash NOI for the existing property portfolio excludes straight-line income, other GAAP adjustments, minority interests' share of NOI and NOI related to assets undervalued by a capitalized NOI method. Assets undervalued by a capitalized NOI method are identified generally by occupancies under 70%. For assets in this category an NOI capitalization approach is not appropriate and accordingly the company's net book value has been used. NOI has been adjusted for acquisitions, divestitures, and changes in occupancy during the period, as applicable.

LEXINGTON REALTY TRUST

Top Markets

6/30/2015

	Core Based Statistical Area ⁽²⁾	Percent of GAAP Base Rent as of 6/30/15 (1)
1	New York-Northern New Jersey-Long Island, NY-NJ-PA		15.8	%
2	Dallas-Fort Worth-Arlington, TX		6.6	%
3	Houston-Sugar Land-Baytown, TX		6.0	%
4	Memphis, TN-MS-AR		4.2	%
5	Baltimore-Towson, MD		4.1	%
6	Kansas City, MO-KS		3.7	%
7	Phoenix-Mesa-Scottsdale, AZ		3.7	%
8	Boston-Cambridge-Quincy, MA-NH		2.9	%
9	Denver-Aurora, CO		2.2	%
10	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD		2.1	%
11	Detroit-Warren-Livonia, MI		2.0	%
12	Columbus, OH		1.9	%
13	Orlando-Kissimmee, FL		1.8	%
14	Charlotte-Gastonia-Rock Hill, NC-SC		1.8	%
15	Las Vegas-Paradise, NV		1.7	%
16	San Jose-Sunnyvale-Santa Clara, CA		1.7	%
17	Indianapolis-Carmel, IN		1.6	%
18	Chicago-Naperville-Joliet, IL-IN-WI		1.5	%
19	Cincinnati-Middletown, OH-KY-IN		1.5	%
20	Atlanta-Sandy Springs-Marietta, GA		1.4	%
	Total Top Markets ⁽³⁾		68.2	%

Footnotes

(1)

Six months ended 6/30/2015 GAAP base rent recognized for consolidated properties owned as of 6/30/2015.

(2)

A Core Based Statistical Area is the official term for a functional region based around an urban center of at least 10,000 people, based on standards published by the Office of Management and Budget (OMB) in 2000. These standards are used to replace the definitions of metropolitan areas that were defined in 1990.

(3)

Total shown may differ from detailed amounts due to rounding.

LEXINGTON REALTY TRUST

Single-Tenant Office Markets

6/30/2015

Footnotes

(1)

Six months ended 6/30/2015 GAAP base rent recognized for consolidated office properties owned as of 6/30/2015.
Includes long-term office properties.

(2)

LEXINGTON REALTY TRUST

Tenant Industry Diversification

6/30/2015

Footnotes

(1)

Six months ended 6/30/2015 GAAP base rent recognized for consolidated properties owned as of 6/30/2015.

LEXINGTON REALTY TRUST

Top 10 Tenants or Guarantors

6/30/2015

Top 10 Tenants or Guarantors - Cash Basis

Tenants or Guarantors	Number of Leases	Sq. Ft. Leased		Sq. Ft. Leased as a Percent of Consolidated Portfolio (2)			Cash Base Rent as of 6/30/2015 ($000) (1)		Percent of Cash Base Rent as of 6/30/2015 ($000) (1) (2)
Fed Ex Corporation / Federal Express Corporation	3		787,829		1.9	%	$	6,284		3.6	%
Baker Hughes, Inc. (4)	1		554,385		1.3	%		5,613		3.2	%
Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)	7		2,053,359		4.9	%		5,111		2.9	%
United States of America	3		398,214		0.9	%		4,566		2.6	%
Swiss Re America Holding Corporation / Westport Insurance Corporation	2		476,123		1.1	%		3,757		2.1	%
Xerox Corporation	1		202,000		0.5	%		3,535		2.0	%
Michelin North America, Inc.	3		2,503,916		5.9	%		3,520		2.0	%
T-Mobile USA, Inc. / T-Mobile West Corporation	5		386,078		0.9	%		3,475		2.0	%
LG-39 Ground Tenant LLC	1		0		0.0	%		2,876		1.6	%
Industrial Terminals Management, LLC	1		132,449		0.3	%		2,723		1.5	%

	27		7,494,353		17.8	%	$	41,460		23.5	%

Top 10 Tenants or Guarantors - GAAP Basis

Tenants or Guarantors	Number of Leases	Sq. Ft. Leased		Sq. Ft. Leased as a Percent of Consolidated Portfolio (2)			GAAP Base Rent as of 6/30/2015 ($000) (3)		Percent of GAAP Base Rent as of 6/30/2015 ($000) (3) (2)
LG-39 Ground Tenant LLC	1		0		0.0	%	$	8,686		4.4	%
FC-Canal Ground Tenant LLC	1		0		0.0	%		7,445		3.7	%
AL-Stone Ground Tenant LLC	1		0		0.0	%		6,795		3.4	%
FedEx Corporation / Federal Express Corporation	3		787,829		1.9	%		6,449		3.2	%
Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)	7		2,053,359		4.9	%		4,970		2.5	%
United States of America	3		398,214		0.9	%		4,752		2.4	%
Swiss Re America Holding Corporation / Westport Insurance Corporation	2		476,123		1.1	%		3,773		1.9	%
Baker Hughes, Inc.	1		554,385		1.3	%		3,688		1.9	%
Michelin North America, Inc.	3		2,503,916		5.9	%		3,541		1.8	%
Industrial Terminals Management, L.L.C.	1		132,449		0.3	%		3,387		1.7	%
	23		6,906,275		16.4	%	$	53,486		26.9	%

Footnotes

(1) Six months ended 6/30/2015 Cash base rent recognized for consolidated properties owned as of 6/30/2015.

(2) Total shown may differ from detailed amounts due to rounding.

(3) Six months ended 6/30/2015 GAAP base rent recognized for consolidated properties owned as of 6/30/2015.

(4) Tenant pays rent semi-annually in uneven amounts.

LEXINGTON REALTY TRUST

Lease Rollover Schedule - Consolidated Single-Tenant Properties GAAP Basis

6/30/2015

Year	Number of Leases Expiring		GAAP Base Rent as of 6/30/2015 ($000)		Percent of GAAP Base Rent as of 6/30/2015			Percent of GAAP Base Rent as of 6/30/2014
2015 - remaining		1	$	244		0.1	%		1.8	%
2016		14		8,720		4.8	%		5.8	%
2017		17		10,243		5.7	%		6.9	%
2018		31		13,585		7.5	%		6.8	%
2019		20		14,729		8.1	%		7.5	%
2020		18		14,036		7.7	%		5.3	%
2021		11		10,868		6.0	%		5.6	%
2022		8		6,388		3.5	%		3.3	%
2023		5		6,613		3.6	%		6.8	%
2024		9		7,055		3.9	%		3.3	%
2025 - Q1 & Q2		11		8,208		4.5	%		3.6	%
Thereafter		60		80,509		44.4	%		37.6	%

Total ⁽¹⁾		205	$	181,198		100.0	%

Footnotes

(1) Total shown may differ from detailed amounts due to rounding and does not include multi-tenant properties and parking operations.

LEXINGTON REALTY TRUST

Lease Rollover Schedule - Consolidated Properties GAAP Basis

6/30/2015

Year	Number of Leases Expiring		GAAP Base Rent as of 6/30/2015 ($000)		Percent of GAAP Base Rent as of 6/30/2015
2015 - remaining		28	$	682		0.4	%
2016		32	$	9,627		5.0	%
2017		24	$	10,427		5.4	%
2018		36	$	14,664		7.6	%
2019		31	$	16,471		8.6	%
2020		20	$	14,198		7.4	%
2021		14	$	13,911		7.2	%
2022		9	$	6,418		3.3	%
2023		6	$	6,678		3.5	%
2024		11	$	7,172		3.7	%
2025 - Q1 & Q2		11	$	8,208		4.3	%
Thereafter		63	$	83,788		43.6	%

Total ⁽¹⁾		285	$	192,244		100.0	%

Footnotes

(1) Total shown may differ from detailed amounts due to rounding and does not include parking operations.

LEXINGTON REALTY TRUST

Property Leases and Vacancies- Consolidated Portfolio - 6/30/2015

Year of Lease Expiration	Date of Lease Expiration	Property Location	City	State	Note	Primary Tenant (Guarantor)	Property Type	Sq.Ft. Leased or Available (1)		Cash Rent as of 6/30/2015 ($000) (2)		GAAP Base Rent as of 6/30/2015 ($000) (3)		6/30/2015 Debt Balance ($000)		Debt Maturity
LONG-TERM LEASE PROPERTIES
2025	7/14/2025	590 Ecology Ln.	Chester	SC	—	Boral Stone Products LLC (Boral Limited)	Industrial		420,597		1,111		814		9,012	08/2025
	7/31/2025	7005 Cochran Rd.	Glenwillow	OH	—	Royal Appliance Mfg. Co.	Industrial		458,000		1,020		1,126		15,466	09/2016
	9/30/2025	10001 Richmond Ave.	Houston	TX	18	Baker Hughes Incorporated / Schlumberger Holdings Corp.	Office		554,385		5,613		3,688		-	-
	11/30/2025	11707 Miracle Hills Dr.	Omaha	NE	—	Infocrossing, Inc.	Office		85,200		583		583		7,684	04/2016
	12/31/2025	1700 47th Ave North	Minneapolis	MN	—	Owens Corning Roofing and Asphalt, LLC	Industrial		18,620		275		275		-	-
		2005 East Technology Cir.	Tempe	AZ	—	Infocrossing, Inc.	Office		60,000		564		564		7,257	04/2016
		4001 International Pkwy.	Carrollton	TX	—	Motel 6 Operating, LP	Office		138,443		1,034		1,113		-	-
2026	3/30/2026	121 Technology Dr.	Durham	NH	15	Heidelberg Americas, Inc. (Heidelberger Druckmaschinen AG) / Goss International Americas, Inc. (Goss International Corporation)	Industrial		500,500		2,105		1,269		-	-
	3/31/2026	500 Olde Worthington Rd.	Westerville	OH	—	InVentiv Communications, Inc.	Office		97,000		557		628		-	-
		633 Garrett Pkwy.	Lewisburg	TN	—	Calsonic Kansei North America, Inc.	Industrial		310,000		609		655		-	-
	6/30/2026	333 Mt. Hope Ave.	Rockaway	NJ	—	Atlantic Health System, Inc.	Office		60,258		0		376		-	-
		351 Chamber Dr.	Chillicothe	OH	—	The Kitchen Collection, Inc.	Industrial		475,218		535		580		-	-
	8/31/2026	25500 State Hwy. 249	Tomball	TX	—	Parkway Chevrolet, Inc. (Raymond Durdin & Jean W. Durdin)	Specialty		77,076		718		702		8,535	11/2016
	9/30/2026	900 Industrial Blvd.	Crossville	TN	—	Dana Commercial Vehicle Products, LLC	Industrial		222,200		289		289		-	-
	10/31/2026	5001 Greenwood Rd.	Shreveport	LA	—	Libbey Glass Inc. (Libbey Inc.)	Industrial		646,000		1,051		1,083		19,000	07/2017
	11/30/2026	250 Rittenhouse Cir.	Bristol	PA	—	Northtec LLC (The Estée Lauder Companies Inc.)	Industrial		241,977		545		573		-	-
		500 Kinetic Dr.	Huntington	WV	—	AMZN WVCS LLC (Amazon.com, Inc.)	Office		68,693		534		634		6,500	02/2017
	12/29/2026	5500 New Albany Rd.	Columbus	OH	—	Evans, Mechwart, Hambleton & Tilton, Inc.	Office		104,807		806		869		-	-
2027	2/28/2027	554 Nissan Parkway	Canton	MS	—	Nissan North America, Inc.	Industrial		1,466,000		1,441		1,567		-	-
	4/30/2027	1315 West Century Dr.	Louisville	CO	5	Global Healthcare Exchange, Inc. (Global Healthcare Exchange, LLC)	Office		106,877		576		628		-	-
		2424 Alpine Rd.	Eau Claire	WI	—	Silver Spring Foods, Inc. (Huntsinger Farms, Inc.)	Industrial		159,000		535		501		-	-
	6/30/2027	3902 Gene Field Rd	St. Joseph	MO	—	Boehringer Ingelheim Vetmedica, Inc. (Boehringer Ingelheim USA Corporation)	Office		98,849		892		997		-	-
	7/6/2027	2221 Schrock Rd.	Columbus	OH	—	MS Consultants, Inc.	Office		42,290		291		320		-	-
	8/7/2027	25 Lakeview Dr.	Jessup	PA	—	TMG Health, Inc.	Office		150,000		994		1,250		-	-
	10/31/2027	11201 Renner Blvd.	Lenexa	KS	—	United States of America	Office		169,585		2,794		3,051		37,488	11/2027
	11/30/2027	1700 Millrace Dr.	Eugene	OR	17	Oregon Research Institute / Educational Policy Improvement Center	Office		80,011		838		1,039		-	-
	12/31/2027	10590 Hamilton Ave.	Cincinnati	OH	—	The Hillman Group, Inc.	Industrial		264,598		391		406		-	-
2028	3/31/2028	29-01-Borden Ave./29-10 Hunters Point Ave.	Long Island City	NY	—	FedEx Ground Package System, Inc. (FedEx Corporation)	Industrial		140,330		2,385		2,568		50,289	03/2028
	4/30/2028	9655 Maroon Circle	Englewood	CO	—	TriZetto Corporation	Office		166,912		1,738		1,922		-	-
	8/31/2028	9803 Edmonds Way	Edmonds	WA	—	Pudget Consumers Co-op d/b/a PCC Natural Markets	Retail		35,459		323		323		-	-
	11/30/2028	832 N. Westover Blvd .	Albany	GA	—	Gander Mountain Company	Retail		45,554		314		347		-	-
2029	1/31/2029	6226 West Sahara Ave.	Las Vegas	NV	—	Nevada Power Company	Office		282,000		1,545		2,126		-	-
		175 Holt Garrison Pkwy.	Danville	VA	—	Home Depot USA, Inc.	Land and Infrastructure		0		130		108		-	-
	3/31/2029	2800 High Meadow Circle	Auburn Hills	MI	—	Faurecia USA Holdings, Inc.	Office		278,000		960		1,096		-	-
	11/24/2029	318 Pappy Dunn Blvd.	Anniston	AL	—	International Automotive Components Group North America, Inc.	Industrial		276,782		786		870		-	-
2030	3/31/2030	459 Wingo Rd.	Byhalia	MS	—	Asics America Corporation (Asics Corporation)	Industrial		855,878		1,650		1,838		15,000	06/2016
	4/7/2030	810 Gears Rd.	Houston	TX	—	United States of America	Office		68,985		0		0		-	-
	5/31/2030	3301 Stagecoach Rd. NE	Thomson	GA	—	Hollander Sleep Products, LLC (Hollander Home Fashions Holdings)	Industrial		208,000		132		145		-	-
	7/31/2030	3940 South Teller St.	Lakewood	CO	11	Addenbrooke Classical Academy	Office		68,165		278		273		-	-
2031	5/31/2031	671 Washburn Switch Rd.	Shelby	NC	—	Clearwater Paper Corporation	Industrial		673,518		1,139		1,300		-	-
2032	4/30/2032	13930 Pike Rd.	Missouri City	TX	—	Vulcan Construction Materials, LP (Vulcan Materials Company)	Land and Infrastructure		0		915		1,061		-	-
	10/31/2032	143 Diamond Avenue	Parachute	CO	—	Encana Oil and Gas (USA) Inc. (Alenco Inc.)	Office		49,024		508		642		-	-
	12/31/2032	3030 North 3rd St.	Phoenix	AZ	—	CopperPoint Mutual Insurance Company	Office		252,400		2,008		2,424		-	-
2033	10/31/2033	1001 Innovation Road	Rantoul	IL	—	Easton-Bell Sports, Inc.	Industrial		813,126		1,738		2,073		-	-
	11/30/2033	1331 Capitol Ave.	Omaha	NE	—	The Gavilon Group, LLC	Office		127,810		1,413		1,656		-	-
	12/31/2033	3000 Busch Lake Blvd.	Tampa	FL	—	BluePearl Holdings, LLC	Office		17,000		244		244		-	-
		2910 Busch Lake Blvd.	Tampa	FL	—	BluePearl Holdings, LLC	Office		2,500		27		27		-	-
		2950 Busch Lake Blvd.	Tampa	FL	—	BluePearl Holdings, LLC	Office		8,000		77		77		-	-
		19311 SH 249	Houston	TX	—	BluePearl Holdings, LLC	Office		12,622		109		109		-	-
2034	9/30/2034	5625 North Sloan Ln.	North Las Vegas	NV	—	Nicholas and Co., Inc.	Industrial		180,235		1,070		1,278		-	-

LEXINGTON REALTY TRUST

Property Leases and Vacancies- Consolidated Portfolio - 6/30/2015

Year of Lease Expiration	Date of Lease Expiration	Property Location	City	State	Note	Primary Tenant (Guarantor)	Property Type	Sq.Ft. Leased or Available (1)		Cash Rent as of 6/30/2015 ($000) (2)		GAAP Base Rent as of 6/30/2015 ($000) (3)		6/30/2015 Debt Balance ($000)		Debt Maturity
LONG-TERM LEASE PROPERTIES
2035	3/31/2035	7007 F.M. 362	Brookshire	TX	—	Orizon Industries, Inc.	Industrial		262,095		415		504		-	-
		13863 Industrial Road	Houston	TX	—	Curtis Kelly, Inc.	Industrial		187,800		528		642		-	-
2038	3/31/2038	13901/14035 Industrial Rd.	Houston	TX	—	Industrial Terminals Management, L.L.C. (Maritime Holdings (Delaware) LLC)	Land and Infrastructure		132,449		2,723		3,387		-	-
2039	3/31/2039	854 Paragon Way	Rock Hill	SC	—	Physicians Choice Laboratory Services, LLC	Office		104,497		937		1,241		-	-
2043	2/28/2043	1237 W. Sherman Avenue	Vineland	NJ	—	HealthSouth Rehabilitation Hospital of South Jersey, LLC (HealthSouth Corporation)	Specialty		39,287		560		560		-	-
2055	1/31/2055	499 Derbyshire Drive	Venice	FL	—	Littlestone Brotherhood LLC	Land and Infrastructure		31,180		564		851		-	-
2112	10/31/2112	350 and 370-372 Canal St.	New York	NY	—	FC-Canal Ground Tenant LLC	Land and Infrastructure		0		2,465		7,445		69,298	01/2027
		309-313 West 39th St.	New York	NY	—	LG-39 Ground Tenant LLC	Land and Infrastructure		0		2,876		8,686		80,856	01/2027
		8-12 Stone St.	New York	NY	—	AL-Stone Ground Tenant LLC	Land and Infrastructure		0		2,250		6,795		63,247	01/2027
2113	10/31/2113	15 West 45th St.	New York	NY	—	ZE-45 Ground Tenant LLC	Land and Infrastructure		0		750		2,311		29,193	01/2025
N/A	Vacancy	333 Mt. Hope Ave.	Rockaway	NJ	—	(Available for Lease)	Office		32,068		0		0		-	-
		810 Gears Rd.	Houston	TX	—	(Available for Lease)	Office		9,910		0		0		-	-
LONG TERM TOTAL/WEIGHTED AVERAGE						99.7% Leased			12,437,770	$	60,258	$	80,509	$	418,825

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 6/30/2015

Year of Lease Expiration	Date of Lease Expiration	Property Location	City	State	Note	Primary Tenant (Guarantor)	Sq.Ft. Leased or Available (1)		Cash Rent as of 6/30/2015 ($000) (2)		GAAP Base Rent as of 6/30/2015 ($000) (3)		6/30/2015 Debt Balance ($000)		Debt Maturity
OFFICE PROPERTIES
2016	1/31/2016	1600 Eberhardt Rd.	Temple	TX	—	Nextel of Texas, Inc. (Nextel Finance Company)		54,683		421		304		7,666	01/2016
	4/30/2016	11511 Luna Rd.	Farmers Branch	TX	—	Haggar Clothing Co. (Texas Holding Clothing Corporation and Haggar Corp.)		180,507		1,224		1,594		18,394	07/2016
		2000 Eastman Dr.	Milford	OH	—	Siemens Corporation		221,215		1,243		1,159		-	-
	5/31/2016	1200 Jupiter Rd.	Garland	TX	—	Raytheon Company		278,759		753		865		-	-
	7/14/2016	1400 Northeast McWilliams Rd.	Bremerton	WA	—	Nextel West Corporation (Nextel Finance Company)		60,200		608		608		5,694	04/2016
	10/31/2016	104 & 110 South Front St.	Memphis	TN	—	Hnedak Bobo Group, Inc.		37,229		259		251		3,589	01/2017
2017	3/31/2017	1701 Market St.	Philadelphia	PA	4	Car-Tel Communications, Inc.		1,220		28		28		-	-
	9/30/2017	9201 East Dry Creek Rd.	Centennial	CO	—	Arrow Electronics, Inc.		128,500		1,737		1,516		-	-
	10/31/2017	4455 American Way	Baton Rouge	LA	—	New Cingular Wireless PCS, LLC		70,100		529		529		-	-
		5201 West Barraque St.	Pine Bluff	AR	—	Entergy Services, Inc.		27,189		96		134		-	-
	11/30/2017	6200 Northwest Pkwy.	San Antonio	TX	—	United HealthCare Services, Inc. / PacifiCare Healthsystems, LLC		142,500		984		933		-	-
2018	1/31/2018	820 Gears Rd.	Houston	TX	—	Ricoh Americas Corporation		78,895		529		577		-	-
	2/28/2018	850-950 Warrenville Rd.	Lisle	IL	—	Flexible Steel Lacing Company, d/b/a Flexco, Inc.		7,535		46		46		-	-
	4/30/2018	Sandlake Rd./Kirkman Rd.	Orlando	FL	7	Lockheed Martin Corporation		184,000		480		935		-	-
	5/30/2018	13651 McLearen Rd.	Herndon	VA	—	United States of America		159,644		1,772		1,701		-	-
	5/31/2018	8900 Freeport Pkwy.	Irving	TX	—	Pacific Union Financial, LLC.		43,396		439		392		-	-
	6/30/2018	100 Barnes Rd.	Wallingford	CT	—	3M Company		44,400		251		254		-	-
		420 Riverport Rd.	Kingsport	TN	—	Kingsport Power Company		42,770		155		64		-	-
	8/31/2018	2706 Media Center Dr.	Los Angeles	CA	—	Sony Electronics Inc.		20,203		115		570		-	-
		3500 North Loop Rd.	McDonough	GA	—	Litton Loan Servicing LP		62,218		649		459		-	-
	9/30/2018	1701 Market St.	Philadelphia	PA	4	CBC Restaurant Corp.		8,070		112		106		-	-
	10/31/2018	3943 Denny Ave.	Pascagoula	MS	—	Huntington Ingalls Incorporated		94,841		296		296		-	-
	12/22/2018	5200 Metcalf Ave.	Overland Park	KS	—	Swiss Re America Holding Corporation / Westport Insurance Corporation		320,198		2,562		2,578		34,435	05/2019
	12/31/2018	2550 Interstate Dr.	Harrisburg	PA	9	AT&T Services, Inc. / AXA Equitable Life Insurance Company / Crump Life Insurance Services Inc.		87,718		586		633		-	-
2019	1/31/2019	2999 Southwest 6th St.	Redmond	OR	—	VoiceStream PCS I, LLC / T-Mobile West Corporation (T-Mobile USA, Inc.)		77,484		829		734		-	-
	4/1/2019	9201 Stateline Rd.	Kansas City	MO	—	Swiss Re America Holding Corporation / Westport Insurance Corporation		155,925		1,195		1,195		16,416	05/2019
	6/19/2019	3965 Airways Blvd.	Memphis	TN	—	Federal Express Corporation		521,286		3,486		3,507		-	-
	6/28/2019	3265 East Goldstone Dr.	Meridian	ID	—	VoiceStream PCS Holding, LLC / T-Mobile PCS Holdings, LLC (T-Mobile USA, Inc.)		77,484		698		553		9,535	08/2019
	7/15/2019	19019 North 59th Ave.	Glendale	AZ	—	Honeywell International Inc.		252,300		930		951		-	-
	7/31/2019	500 Jackson St.	Columbus	IN	—	Cummins, Inc.		390,100		2,295		2,270		23,105	07/2019
	10/31/2019	10475 Crosspoint Blvd.	Indianapolis	IN	—	John Wiley & Sons, Inc.		123,416		1,126		1,134		-	-
		9601 Renner Blvd.	Lenexa	KS	—	VoiceStream PCS II Corporation (T-Mobile USA, Inc.)		77,484		715		571		9,660	12/2019
	12/31/2019	400 Butler Farm Rd.	Hampton	VA	—	Nextel Communications of the Mid-Atlantic, Inc. (Nextel Finance Company)		100,632		493		503		-	-
		850-950 Warrenville Rd.	Lisle	IL	—	National-Louis University / James J. Benes & Associates, Inc.		91,879		767		783		9,531	06/2016
2020	1/31/2020	10300 Kincaid Dr.	Fishers	IN	16	Roche Diagnostics Operations, Inc.		193,000		1,761		1,712		-	-
	2/14/2020	5600 Broken Sound Blvd.	Boca Raton	FL	—	Canon Solutions America, Inc. (Oce - USA Holding, Inc.)		143,290		1,163		1,122		19,747	02/2020
	5/31/2020	2401 Cherahala Blvd.	Knoxville	TN	—	AdvancePCS, Inc. / CaremarkPCS, L.L.C.		59,748		367		387		-	-
	6/30/2020	10419 North 30th St.	Tampa	FL	—	Time Customer Service, Inc. (Time Incorporated)		132,981		739		724		-	-
		3711 San Gabriel	Mission	TX	—	VoiceStream PCS II Corporation / T-Mobile West Corporation		75,016		525		405		-	-
	7/8/2020	1460 Tobias Gadsen Blvd.	Charleston	SC	19	Hagemeyer North America, Inc.		50,076		426		420		7,231	02/2021
	7/31/2020	13775 McLearen Rd.	Herndon	VA	12	Orange Business Services U.S., Inc. (Equant N.V.)		132,617		738		788		-	-
	8/31/2020	133 First Park Dr.	Oakland	ME	—	Omnipoint Holdings, Inc. (T-Mobile USA, Inc.)		78,610		708		573		8,938	10/2020
	9/30/2020	600 Business Center Dr.	Lake Mary	FL	—	JPMorgan Chase Bank, National Association		125,155		814		879		-	-
		9200 South Park Center Loop	Orlando	FL	—	Zenith Education Group, Inc. (ECMC Group, Inc.)		59,927		561		568		9,542	02/2017
		550 International Parkway	Lake Mary	FL	—	JPMorgan Chase Bank, National Association		125,920		819		881		-	-
	10/31/2020	12209 West Markham St.	Little Rock	AR	—	Entergy Arkansas, Inc.		36,311		119		119		-	-
2021	1/31/2021	1600 Eberhardt Rd.	Temple	TX	—	Nextel of Texas, Inc. (Nextel Finance Company)		54,117		416		300		-	-

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 6/30/2015

Year of Lease Expiration	Date of Lease Expiration	Property Location	City	State	Note	Primary Tenant (Guarantor)	Sq.Ft. Leased or Available (1)		Cash Rent as of 6/30/2015 ($000) (2)		GAAP Base Rent as of 6/30/2015 ($000) (3)		6/30/2015 Debt Balance ($000)		Debt Maturity
OFFICE PROPERTIES
		1701 Market St.	Philadelphia	PA	4, 10	Morgan, Lewis & Bockius LLP / TruMark Financial Credit Union		289,432		2,161		2,169		-	-
	3/31/2021	1311 Broadfield Blvd.	Houston	TX	—	Transocean Offshore Deepwater Drilling, Inc. (Transocean Sedco Forex, Inc.)		155,040		1,318		1,312		-	-
	6/30/2021	1415 Wyckoff Rd.	Wall	NJ	—	New Jersey Natural Gas Company		157,511		1,656		1,656		18,834	01/2021
	8/31/2021	333 Three D Systems Circle	Rock Hill	SC	—	3D Systems Corporation		82,669		334		344		-	-
	11/30/2021	29 South Jefferson Rd.	Whippany	NJ	—	CAE SimuFlite, Inc. (CAE INC.)		123,734		1,248		1,164		13,929	11/2021
	12/31/2021	2800 Waterford Lake Dr.	Midlothian	VA	—	Alstom Power, Inc.		99,057		1,103		1,092		-	-
2022	1/31/2022	26210 and 26220 Enterprise Court	Lake Forest	CA	—	Apria Healthcare, Inc. (Apria Healthcare Group, Inc.)		100,012		664		600		-	-
	4/30/2022	4400 Northcorp Pkwy.	Palm Beach Gardens	FL	—	The Weiss Group, LLC		18,500		76		77		-	-
	6/30/2022	8555 South River Pkwy.	Tempe	AZ	—	DA Nanomaterials L.L.C./ Air Products and Chemicals, Inc.		95,133		795		853		-	-
	7/31/2022	1440 E 15th Street	Tucson	AZ	—	CoxCom, LLC		28,591		273		273		-	-
	11/30/2022	4201 Marsh Ln.	Carrollton	TX	—	Carlson Restaurants Inc. (Carlson, Inc.)		130,000		1,009		933		-	-
	12/31/2022	147 Milk St.	Boston	MA	—	Atrius Health, Inc.		52,337		850		831		12,423	12/2018
		231 N. Martingale Rd.	Schaumburg	IL	—	CEC Educational Services, LLC (Career Education Corporation)		317,198		2,156		2,151		-	-
2023	2/28/2023	2211 South 47th St.	Phoenix	AZ	—	Avnet, Inc.		176,402		1,102		1,348		-	-
	3/31/2023	8900 Freeport Pkwy.	Irving	TX	—	Nissan Motor Acceptance Corporation (Nissan North America, Inc.)		225,049		1,795		1,713		-	-
	12/14/2023	3333 Coyote Hill Rd.	Palo Alto	CA	—	Xerox Corporation		202,000		3,535		3,321		51,049	12/2023
2024	2/14/2024	1362 Celebration Blvd.	Florence	SC	—	MED3000, Inc.		32,000		271		287		-	-
	5/31/2024	3476 Stateview Blvd.	Fort Mill	SC	—	Wells Fargo Bank, N.A.		169,083		902		975		-	-
		3480 Stateview Blvd.	Fort Mill	SC	—	Wells Fargo Bank, N.A.		169,218		903		1,013		-	-
	8/31/2024	10475 Crosspoint Blvd.	Indianapolis	IN	—	RGN-Indianapolis I, LLC		14,236		143		143		-	-
	10/31/2024	1409 Centerpoint Blvd.	Knoxville	TN	—	Alstom Power, Inc.		84,404		531		609		-	-
	11/30/2024	2050 Roanoke Rd.	Westlake	TX	—	TD Auto Finance LLC		77,906		847		937		-	-
	12/31/2024	12000 & 12025 Tech Center Dr.	Livonia	MI	—	Kelsey-Hayes Company (TRW Automotive Inc.)		180,230		787		845		-	-
2025	1/31/2025	1401 Nolan Ryan Expy.	Arlington	TX	—	Triumph Aerostructures, LLC (Triumph Group, Inc.)		111,409		813		809		-	-
	2/28/2025	6555 Sierra Dr.	Irving	TX	—	TXU Energy Retail Company, LLC (Texas Competitive Electric Holdings Company, LLC)		247,254		1,516		1,423		-	-
		1401 Nolan Ryan Expy.	Arlington	TX	—	Cyient, Inc. (Infotech Enterprise Limited)		13,590		71		68		-	-
	3/14/2025	601 & 701 Experian Pkwy.	Allen	TX	—	Experian Information Solutions, Inc. / TRW, Inc.(Experian Holdings, Inc.)		292,700		1,537		1,483		-	-
	3/31/2025	2706 Media Center Dr.	Los Angeles	CA	—	Bank of America, National Association / Sony Electronics, Inc.		62,323		0		0		-	-
	6/30/2025	2500 Patrick Henry Pkwy.	McDonough	GA	—	Georgia Power Company		111,911		651		617		-	-
N/A	N/A	1701 Market St.	Philadelphia	PA	4	Parking Operations		0		1,282		1,282		-	-
	Vacancy	10475 Crosspoint Blvd.	Indianapolis	IN	—	(Available for Lease)		3,764		0		0		-	-
		1701 Market St.	Philadelphia	PA	4	(Available for Lease)		2,674		0		0		-	-
		2050 Roanoke Rd.	Westlake	TX	—	(Available for Lease)		52,293		0		0		-	-
		1401 Nolan Ryan Expy.	Arlington	TX	—	(Available for Lease)		36,809		13		13		-	-
OFFICE TOTAL/WEIGHTED AVERAGE						99.0% Leased		9,405,217	$	67,906	$	67,952	$	279,718

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 6/30/2015

Year of Lease Expiration	Date of Lease Expiration	Property Location	City	State	Note	Primary Tenant (Guarantor)	Sq. Ft. Leased or Available (1)		Cash Rent as of 6/30/2015 ($000) (2)		GAAP Base Rent as of 6/30/2015 ($000) (3)		6/30/2015 Debt Balance ($000)		Debt Maturity
INDUSTRIAL PROPERTIES
2015	12/31/2015	749 Southrock Dr.	Rockford	IL	—	Jacobson Warehouse Company, Inc. (Jacobson Distribution Company, Inc. and Jacobson Transportation Company, Inc.)		150,000		238		244		-	-
2016	2/28/2016	7670 Hacks Cross Rd.	Olive Branch	MS	—	MAHLE Aftermarket Inc. (MAHLE Industries, Incorporated)		268,104		477		411		-	-
	3/31/2016	2455 Premier Dr.	Orlando	FL	—	Walgreen Co. / Walgreen Eastern Co.		205,016		254		393		-	-
	5/31/2016	291 Park Center Dr.	Winchester	VA	—	Kraft Foods Group, Inc.		344,700		642		645		-	-
	7/31/2016	7111 Crabb Rd.	Temperance	MI	—	Michelin North America, Inc.		744,570		1,143		1,143		-	-
	11/30/2016	736 Addison Rd.	Erwin	NY	—	Corning, Incorporated		408,000		659		659		8,065	10/2018
	12/31/2016	2935 Van Vactor Dr.	Plymouth	IN	—	Bay Valley Foods, LLC		300,500		421		409		5,868	09/2016
		3686 South Central Ave.	Rockford	IL	—	Pierce Packaging Co.		93,000		151		151		-	-
2017	1/31/2017	109 Stevens St.	Jacksonville	FL	7	Wagner Industries, Inc.		164,526		171		171		-	-
	2/28/2017	3456 Meyers Ave.	Memphis	TN	—	Sears, Roebuck and Co. / Sears Logistics Services		780,000		796		847		-	-
	4/30/2017	3600 Army Post Rd.	Des Moines	IA	—	HP Enterprise Services, LLC		405,000		1,299		1,026		-	-
	5/31/2017	191 Arrowhead Dr.	Hebron	OH	—	Owens Corning Insulating Systems, LLC		250,410		276		276		-	-
		200 Arrowhead Dr.	Hebron	OH	—	Owens Corning Insulating Systems, LLC		400,522		441		439		-	-
	6/30/2017	7500 Chavenelle Rd.	Dubuque	IA	—	The McGraw-Hill Companies, Inc.		330,988		643		582		9,189	06/2017
	9/30/2017	250 Swathmore Ave.	High Point	NC	—	Steelcase Inc.		244,851		566		543		-	-
	10/31/2017	1420 Greenwood Rd.	McDonough	GA	—	Versacold USA, Inc.		296,972		1,361		1,298		22,368	11/2017
		43955 Plymouth Oaks Blvd.	Plymouth	MI	—	Tower Automotive Operations USA I, LLC / Tower Automotive Products Inc. (Tower Automotive, Inc.)		290,133		689		737		-	-
	12/31/2017	2203 Sherrill Dr.	Statesville	NC	—	Ozburn-Hessey Logistics, LLC (OHH Acquisition Corporation)		639,800		1,004		958		-	-
2018	6/30/2018	1133 Poplar Creek Rd.	Henderson	NC	—	Staples, Inc.		196,946		406		385		-	-
		1650-1654 Williams Rd.	Columbus	OH	—	ODW Logistics, Inc.		772,450		673		671		-	-
	9/30/2018	50 Tyger River Dr.	Duncan	SC	—	Plastic Omnium Auto Exteriors, LLC		221,833		512		512		-	-
		904 Industrial Rd.	Marshall	MI	—	Tenneco Automotive Operating Company, Inc. (Tenneco, Inc.)		246,508		421		349		-	-
	12/31/2018	120 Southeast Pkwy. Dr.	Franklin	TN	—	Essex Group, Inc. (United Technologies Corporation)		289,330		367		367		-	-
2019	10/17/2019	10345 Philipp Pkwy.	Streetsboro	OH	—	L'Oreal USA S/D, Inc. (L’Oreal USA, Inc.)		649,250		1,409		1,305		17,781	09/2019
	12/31/2019	2415 US Hwy. 78 East	Moody	AL	—	Michelin North America, Inc.		595,346		683		704		-	-
2020	1/31/2020	101 Michelin Dr.	Laurens	SC	—	Michelin North America, Inc.		1,164,000		1,694		1,694		-	-
	3/31/2020	2425 Hwy. 77 North	Waxahachie	TX	—	James Hardie Building Products, Inc. (James Hardie NV & James Hardie Industries NV)		335,610		1,700		1,700		-	-
	5/31/2020	359 Gateway Dr.	Lavonia	GA	—	TI Group Automotive Systems, LLC (TI Automotive Ltd.)		133,221		600		476		7,831	12/2020
	6/30/2020	3102 Queen Palm Dr.	Tampa	FL	—	Time Customer Service, Inc. (Time Incorporated)		229,605		697		638		-	-
	9/30/2020	3350 Miac Cove Rd.	Memphis	TN	—	Mimeo.com, Inc.		107,400		219		204		-	-
	12/19/2020	1901 Ragu Dr.	Owensboro	KY	6	Unilever Supply Chain, Inc. (Unilever United States, Inc.)		443,380		598		746		-	-
2021	5/31/2021	477 Distribution Pkwy.	Collierville	TN	—	Federal Express Corporation / FedEx Techconnect, Inc.		126,213		413		374		-	-
	9/30/2021	3820 Micro Dr.	Millington	TN	—	Ingram Micro L.P. (Ingram Micro Inc.)		701,819		846		906		-	-
	10/25/2021	6938 Elm Valley Dr.	Kalamazoo	MI	—	Dana Commercial Vehicle Products, LLC (Dana Holding Corporation and Dana Limited)		150,945		1,014		873		-	-
	11/30/2021	2880 Kenny Biggs Rd.	Lumberton	NC	—	Quickie Manufacturing Corporation		423,280		686		678		-	-
2022	3/31/2022	5417 Campus Dr.	Shreveport	LA	—	The Tire Rack, Inc.		257,849		638		670		-	-
2023	12/31/2023	1601 Pratt Ave.	Marshall	MI	—	Autocam Corporation		58,707		153		153		-	-
2024	4/30/2024	113 Wells St.	North Berwick	ME	—	United Technologies Corporation		993,685		1,010		928		5,483	04/2019
	5/31/2024	901 East Bingen Point Way	Bingen	WA	—	The Boeing Company		124,539		1,252		1,318		-	-
2025	6/30/2025	10000 Business Blvd.	Dry Ridge	KY	—	Dana Light Axle Products, LLC (Dana Holding Corporation and Dana Limited)		336,350		673		673		-	-
		301 Bill Bryan Rd.	Hopkinsville	KY	—	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)		424,904		844		844		-	-
		4010 Airpark Dr.	Owensboro	KY	—	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)		211,598		604		604		-	-
		730 North Black Branch Rd.	Elizabethtown	KY	—	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)		167,770		268		268		-	-
		750 North Black Branch Rd.	Elizabethtown	KY	—	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)		539,592		1,419		1,419		-	-
N/A	Vacancy	109 Stevens St.	Jacksonville	FL	7	(Available for Lease)		4,274		0		0		-	-
		324 Industrial Park Rd.	Franklin	NC	11	(Available for Lease)		72,868		150		150		-	-
		3350 Miac Cove Rd.	Memphis	TN	—	(Available for Lease)		32,679		0		0		-	-
INDUSTRIAL TOTAL/WEIGHTED AVERAGE						99.3% Leased		16,329,043	$	31,180	$	30,541	$	76,585

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 6/30/2015

Year of Lease Expiration	Date of Lease Expiration	Property Location	City	State	Note	Primary Tenant	Sq.Ft.		Percentage Leased			Cash Rent as of 6/30/2015 ($000) (2)		GAAP Base Rent as of 6/30/2015 ($000) (3)		6/30/2015 Debt Balance ($000)		Debt Maturity
MULTI-TENANT PROPERTIES (8,14)
Various	Various	100 Light St.	Baltimore	MD	13	Multi-Tenant		476,459		94	%		8,085		8,167		55,000	06/2023
		13430 North Black Canyon Fwy.	Phoenix	AZ	—	Multi-Tenant		138,940		92	%		1,207		1,203		-	-
		1501 Nolan Ryan Expy.	Arlington	TX	—	Multi-Tenant		74,739		0	%		-		-		-	-
		180 South Clinton St.	Rochester	NY	—	Multi-Tenant		226,000		0	%		-		-		17,234	08/2016
		2210 Enterprise Dr.	Florence	SC	—	Caliber Funding, LLC		176,557		21	%		362		346		-	-
		3165 McKelvey Rd.	Bridgeton	MO	—	BJC Health System		51,067		50	%		217		201		-	-
		4200 Northcorp Pkwy.	Palm Beach Gardens	FL	—	Multi-Tenant		95,065		100	%		527		528		-	-
		6050 Dana Way	Antioch	TN	—	Multi-Tenant		674,528		96	%		924		911		-	-
		700 US Hwy. Route 202-206	Bridgewater	NJ	—	Multi-Tenant		115,558		0	%		-		-		14,118	03/2016
		275 Technology Dr.	Canonsburg	PA	—	Multi-Tenant		107,872		0	%		-		-		-	-
		King St./1042 Fort St. Mall	Honolulu	HI	—	Multi-Tenant		77,459		64	%		377		377		-	-
		26555 Northwestern Pkwy.	Southfield	MI	11	Multi-Tenant		359,645		0	%		97		216		-	-
		33 Commercial St.	Foxboro	MA	11	Multi-Tenant		164,689		0	%		3,270		3,727		-	-
MULTI-TENANT TOTAL/WEIGHTED AVERAGE						52.3% Leased		2,738,578				$	15,066	$	15,676	$	86,352

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 6/30/2015

Year of Lease Expiration	Date of Lease Expiration	Property Location	City	State	Note	Primary Tenant (Guarantor)	Sq.Ft. Leased or Available (1)		Cash Rent as of 6/30/2015 ($000) (2)		GAAP Base Rent as of 6/30/2015 ($000) (3)		6/30/2015 Debt Balance ($000)		Debt Maturity
RETAIL/SPECIALTY PROPERTIES
2016	5/31/2016	6910 South Memorial Hwy.	Tulsa	OK	—	Toys “R” Us, Inc. / Toys "R" Us-Delaware, Inc.		43,123		128		128		-	-
2017	6/30/2017	1600 East 23rd St.	Chattanooga	TN	—	BI-LO, LLC		42,130		64		64		-	-
	12/31/2017	11411 North Kelly Ave.	Oklahoma City	OK	—	American Golf Corporation		13,924		237		162		-	-
2018	2/26/2018	4831 Whipple Ave., Northwest	Canton	OH	—	Best Buy Co., Inc.		46,350		232		232		-	-
	2/28/2018	291 Talbert Blvd.	Lexington	NC	—	Food Lion, LLC / Delhaize America, Inc.		23,000		69		69		-	-
		3211 West Beverly St.	Staunton	VA	—	Food Lion, LLC / Delhaize America, Inc.		23,000		83		83		-	-
	7/1/2018	1053 Mineral Springs Rd.	Paris	TN	—	The Kroger Co.		31,170		80		84		-	-
	9/30/2018	835 Julian Ave.	Thomasville	NC	—	Mighty Dollar, LLC		23,767		39		39		-	-
	10/31/2018	130 Midland Ave.	Port Chester	NY	—	A&P Real Property, LLC (Pathmark Stores, Inc.)		59,613		229		488		-	-
		5104 North Franklin Rd.	Lawrence	IN	—	Marsh Supermarkets, Inc. / Marsh Supermarkets, LLC		28,721		97		97		-	-
	12/31/2018	1150 West Carl Sandburg Dr.	Galesburg	IL	—	Kmart Corporation/ Project Bay Exchange LLC (Sears, Roebuck and Co.)		94,970		21		164		471	07/2018
		12080 Carmel Mountain Rd.	San Diego	CA	—	Kmart Corporation/ Project Bay Exchange LLC (Sears, Roebuck and Co.)		107,210		24		376		535	07/2018
		21082 Pioneer Plaza Dr.	Watertown	NY	—	Kmart Corporation/ Project Bay Exchange LLC (Sears, Roebuck and Co.)		120,727		36		241		790	07/2018
		255 Northgate Dr.	Manteca	CA	—	Kmart Corporation/ Project Bay Exchange LLC (Sears, Roebuck and Co.)		107,489		38		278		840	07/2018
		5350 Leavitt Rd.	Lorain	OH	—	Kmart Corporation/ Project Bay Exchange LLC (Sears, Roebuck and Co.)		193,193		54		366		1,189	07/2018
		97 Seneca Trail	Fairlea	WV	—	Kmart Corporation/ Project Bay Exchange LLC (Sears, Roebuck and Co.)		90,933		25		173		555	07/2018
2019	3/31/2019	B.E.C. 45th St./Lee Blvd.	Lawton	OK	—	Associated Wholesale Grocers, Inc. / Safeway, Inc.		30,757		93		94		-	-
	12/31/2019	1066 Main St.	Forest Park	GA	—	Bank of America, N.A. (Bank of America Corporation)		14,859		100		100		-	-
		1698 Mountain Industrial Blvd.	Stone Mountain	GA	—	Bank of America, N.A. (Bank of America Corporation)		5,704		48		48		-	-
		201 West Main St.	Cumming	GA	—	Bank of America, N.A. (Bank of America Corporation)		14,208		99		99		-	-
		2223 North Druid Hills Rd.	Atlanta	GA	—	Bank of America, N.A. (Bank of America Corporation)		6,260		56		56		-	-
		4545 Chamblee – Dunwoody Rd.	Dunwoody	GA	—	Bank of America, N.A. (Bank of America Corporation)		4,565		44		44		-	-
		825 Southway Dr.	Jonesboro	GA	—	Bank of America, N.A. (Bank of America Corporation)		4,894		39		39		-	-
		956 Ponce de Leon Ave.	Atlanta	GA	—	Bank of America, N.A. (Bank of America Corporation)		3,900		39		39		-	-
2023	2/28/2023	733 East Main St.	Jefferson	NC	—	Food Lion, LLC / Delhaize America, Inc.		34,555		80		78		-	-
N/A	Vacancy	1084 East Second St.	Franklin	OH	11	(Available for Lease)		29,119		0		735		-	-
RETAIL/SPECIALTY TOTAL/WEIGHTED AVERAGE				97.6% Leased				1,198,141	$	2,054	$	4,376	$	4,380

TOTAL CONSOLIDATED PORTFOLIO/WEIGHTED AVERAGE				96.2% Leased				42,108,749	$	176,464	$	199,054	$	865,860

Footnotes

1	Square foot leased or available.
2	Six months ended 6/30/2015 cash rent.
3	Six months ended 6/30/2015 GAAP base rent.
4	Lexington has an 87.5% interest in this property and acquired the remaining 12.5% interest subsequent to 6/30/2015.
5	20,000 square feet is leased to 5/31/2023.
6	Lexington has a 71.1% interest in this property.
7	Property disposed subsequent to 6/30/2015.
8	Multi-tenant properties are properties less than 50% leased to a single tenant.
9	Includes 23,535 square feet leased to 10/31/2025.
10	Includes 2,641 square feet leased to TruMark Financial Credit Union through 5/31/2025.
11	Cash and GAAP rent amounts represent/include prior tenant.
12	24,824 square feet is leased to 7/31/2025.
13	Includes parking operations.
14	The multi-tenanted properties incurred approximately $7.2 million in operating expenses, net for the six months ended 6/30/2015.
15	Heidelberg Americas, Inc. lease expires 3/30/2021, however, new tenant (Goss International Americas, Inc.) lease expires 3/30/2026.
16	Subsequent to 6/30/2015, tenant terminated its lease effective 1/31/2017 for a cash payment of $2.0 million received in July 2015 and an additional $2.0 million is due in 2017.
17	Educational Policy Improvement Center lease for 10,791 square feet expires 11/2019; however, space is then leased to Oregon Research Institute through 11/2027.
18	Baker Hughes Incorporated lease expires 09/2015; however, new tenant (Schlumberger Holdings Corp.) lease expires 09/2025.
19	Subsequent to 6/30/2015, tenant terminated its lease effective 7/8/2016 for a cash payment of $1.5 million.

LEXINGTON REALTY TRUST

Select Credit Metrics

	6/30/2014			6/30/2015

Company FFO Payout Ratio		60.7	%		63.0	%

Unencumbered Assets (1)		$2.94 billion			$3.26 billion

Unencumbered NOI		59.6	%		68.7	%

(Debt + Preferred) / Gross Assets		44.4	%		43.6	%

Debt/Gross Assets		42.5	%		41.7	%

Market Cap Leverage		44.8	%		49.7	%

Secured Debt / Gross Assets		19.8	%		17.1	%

Net Debt / EBITDA		6.3	x		6.4	x

(Net Debt + Preferred) / EBITDA		6.6	x		6.7	x

Credit Facilities Availability (2)		$383.9 million			$297.0 million

Development / Gross Assets		1.2	%		3.0	%

EBITDA / Revenue		74.4	%		71.2	%

EBITDA / (PrefDiv + Interest Expense)		3.2	x		3.2	x

(JV + Advisory Income) / Revenues		0.4	%		0.3	%

Footnotes

(1) Includes loans receivable.

(2) Subject to covenant compliance.

LEXINGTON REALTY TRUST

Historical Credit Metrics Summary

	2011			2012			2013			2014

Company FFO Payout Ratio		48.5	%		56.1	%		60.3	%		60.8	%

Unencumbered Assets (1)(2)		$1.15 billion			$1.76 billion			$2.59 billion			$2.87 billion

Unencumbered NOI (1)		25.9	%		34.5	%		55.3	%		59.9	%

(Debt + Preferred) / Gross Assets		48.7	%		46.6	%		43.0	%		44.0	%

Debt/Gross Assets		40.9	%		41.1	%		41.1	%		42.0	%

Market Cap Leverage		52.5	%		46.6	%		45.4	%		43.7	%

Secured Debt / Gross Assets (1)		31.9	%		30.9	%		23.9	%		19.0	%

Net Debt / EBITDA		5.5	x		6.5	x		6.4	x		5.7	x

(Net Debt + Preferred) / EBITDA		6.6	x		7.3	x		6.7	x		6.0	x

Credit Facilities Availability (3)		$294.3 million			$296.3 million			$443.4 million			$385.4 million

Development / Gross Assets		0.9	%		1.6	%		1.6	%		2.4	%

EBITDA / Revenue		77.0	%		76.5	%		74.4	%		71.8	%

EBITDA / (PrefDiv + Interest Expense)		2.3	x		2.4	x		3.1	x		3.1	x

(JV + Advisory Income or (loss)) / Revenues		8.5	%		4.4	%		0.5	%		0.4	%

Footnotes:

(1) Revolving credit facility and term loans are currently unsecured thus all periods reflect such borrowings as unsecured.

(2) Includes loans receivable.

(3) Subject to covenant compliance.

LEXINGTON REALTY TRUST

FINANCIAL COVENANTS (1)

Corporate Level Debt

Bank Loans:		Must be:	6/30/2015

	Maximum Leverage	< 60%	49.7%
	Interest Coverage	> 1.5X	3.4X
	Fixed Charge Coverage	> 1.4X	2.3X
	Recourse Secured Indebtedness Ratio	< 10% cap value	0.4%
	Secured Indebtedness Ratio	< 45%	20.4%
	Minimum Net Worth	> $2.1 billion	$2.7 billion
	Distribution Limit	< 95% FFO	77.3%
	Floating Rate Debt	< 35%	10.9%
	Unsecured Debt Service Coverage	> 2.0X	4.4X
	Borrowing Base Assets Leverage	< 60%	46.2%
	Restricted Payments	< $20 million	$1.2 million

	Permitted Investments:
A	Joint Venture Investments	< 25% cap value	1.3%
B	Raw Land	< 10% cap value	0.0%
C	Construction/Development in Process	< 15% cap value	5.1%
D	Notes Receivable	< 10% cap value	2.5%
E	Ground Leases	< 20% cap value	11.4%
	Sum of A through E	< 40% cap value	20.3%
	Sum of B through D	< 25% cap value	7.6%

Bonds:

	Debt to Total Assets	< 60%	42.8%
	Secured Debt to Total Assets	< 40%	17.5%
	Debt Service Coverage	> 1.5X	3.9X
	Unencumbered Assets to Unsecured Debt	> 150%	274.5%

Footnotes

(1) As defined in respective loan/bond agreements.

LEXINGTON REALTY TRUST

Consolidated Properties: Mortgages and Notes Payable

6/30/2015

Property	Footnotes	Debt Balance ($000)		Interest Rate (%)			Maturity ^(a)	Current Estimated Annual Debt Service ($000) (d)		Balloon Payment ($000)
Mortgages with Balloons
Temple, TX		$	7,666		6.090	%	01/2016	$	356	$	7,463
Bridgewater, NJ	(b)		14,118		5.732	%	03/2016		1,443		13,825
Omaha, NE			7,684		5.610	%	04/2016		450		7,560
Bremerton, WA			5,694		6.090	%	04/2016		344		5,479
Tempe, AZ			7,257		5.610	%	04/2016		425		7,140
Byhalia, MS	(j)		15,000		4.710	%	06/2016		714		15,000
Lisle, IL			9,531		6.500	%	06/2016		779		9,377
Farmers Branch, TX			18,394		5.939	%	07/2016		1,139		18,363
Rochester, NY	(b)		17,234		6.210	%	08/2016		1,960		16,765
Glenwillow, OH			15,466		6.130	%	09/2016		1,240		15,132
Plymouth, IN			5,868		6.315	%	09/2016		497		5,723
Tomball, TX			8,535		6.063	%	11/2016		683		8,041
Memphis, TN			3,589		5.710	%	01/2017		275		3,484
Huntington, WV			6,500		4.150	%	02/2017		270		6,500
Orlando, FL			9,542		5.722	%	02/2017		696		9,309
Dubuque, IA			9,189		5.402	%	06/2017		733		8,727
Shreveport, LA			19,000		5.690	%	07/2017		1,099		19,000
McDonough, GA			22,368		6.110	%	11/2017		1,674		21,651
Erwin, NY			8,065		5.910	%	10/2018		728		6,637
Boston, MA			12,423		6.100	%	12/2018		996		11,520
Overland Park, KS			34,435		5.891	%	05/2019		2,657		31,812
Kansas City, MO			16,416		5.883	%	05/2019		1,268		15,179
Columbus, IN			23,105		2.210	%	07/2019		4,742		4,993
Meridian, ID			9,535		6.010	%	08/2019		753		7,675
Streetsboro, OH			17,781		5.749	%	09/2019		1,344		16,338
Lenexa, KS			9,660		6.270	%	12/2019		774		7,770
Boca Raton, FL			19,747		6.470	%	02/2020		1,542		18,414
Oakland, ME			8,938		5.930	%	10/2020		750		7,660
Lavonia, GA			7,831		5.460	%	12/2020		741		5,895
Charleston, SC			7,231		5.850	%	02/2021		520		6,632
Whippany, NJ			13,929		6.298	%	11/2021		1,344		10,400
Baltimore, MD			55,000		4.320	%	06/2023		2,443		47,676
New York, NY			29,193		4.100	%	01/2025		1,217		29,193
Chester, SC			9,012		5.380	%	08/2025		1,144		362
New York, NY	(e)		213,401		4.660	%	01/2027		10,190		200,632
Lenexa, KS			37,488		3.700	%	11/2027		3,027		10,000
Subtotal/Wtg. Avg./Years Remaining (l)		$	735,825		5.112	%	6.5	$	50,957	$	637,327

LEXINGTON REALTY TRUST

Consolidated Properties: Mortgages and Notes Payable

6/30/2015

Property	Footnotes	Debt Balance ($000)		Interest Rate (%)			Maturity ^(a)	Current Estimated Annual Debt Service ($000) (d)		Balloon Payment ($000)

Full Amortizing Mortgages
Lorain, OH			1,189		7.750	%	07/2018		108		-
Manteca, CA			840		7.750	%	07/2018		77		-
Watertown, NY			790		7.750	%	07/2018		72		-
Fairlea, WV			555		7.750	%	07/2018		51		-
San Diego, CA			535		7.750	%	07/2018		49		-
Galesburg, IL			471		7.750	%	07/2018		43		-
North Berwick, ME			5,483		3.560	%	04/2019		1,532		-
Wall, NJ			18,834		6.250	%	01/2021		3,774		-
Palo Alto, CA			51,049		3.970	%	12/2023		7,059		-
Long Island City, NY			50,289		3.500	%	03/2028		4,538		-

Subtotal/Wtg. Avg./Years Remaining ^(l)		$	130,035		4.229	%	9.3	$	17,303	$	-

Subtotal/Wtg. Avg./Years Remaining ^(l)		$	865,860		4.979	%	6.9	$	68,260	$	637,327

Corporate (k)
Revolving Credit Facility		$	93,000		1.336	%	02/2017	$	1,260	$	93,000
Term Loan			250,000		2.442	%	02/2018		6,190		250,000
Term Loan			255,000		3.173	%	01/2019		8,204		255,000
Senior Notes	(h)		250,000		4.250	%	06/2023		10,625		250,000
Senior Notes	(f)		250,000		4.400	%	06/2024		11,000		250,000
Convertible Notes	(i)(c)		12,800		6.000	%	01/2030		768		12,800
Trust Preferred Notes	(g)		129,120		6.804	%	04/2037		8,785		129,120
Subtotal/Wtg. Avg./Years Remaining ^(l)		$	1,239,920		3.760	%	7.0	$	46,832	$	1,239,920
Total/Wtg. Avg./Years Remaining ^(l)		$	2,105,780		4.261	%	7.0	$	115,092	$	1,877,247

Footnotes

(a)

Subtotal and total based on weighted-average term to maturity (or put dates) shown in years based on debt balance.

(b)

Loan is in default.

(c)

Represents full payable of notes; discount of $336 excluded from balance.

(d)

Remaining payments for debt with less than 12 months to maturity, all others are debt service for next 12 months.

(e)

Loan is cross-collateralized on three properties.

(f)

Represents full payable of notes; discount of $261 excluded from balance.

(g)

Rate fixed through 04/2017; thereafter, LIBOR plus 170 bps.

(h)

Represents full payable of notes; discount of $1,928 excluded from balance.

(i)

Holders have the right to redeem the notes on 01/15/17, 01/15/20 and 01/15/25.

(j)

Property was expanded. Mortgage is recourse during expansion and Lexington was not released from the guaranty as of 6/30/2015.

(k)

Unsecured.

(l)

Total shown may differ from detailed amounts due to rounding.

LEXINGTON REALTY TRUST

Non- Consolidated Investments: Mortgages & Notes Payable

6/30/2015

Joint Venture	Debt Balance ($000)		LXP Proportionate Share ($000) ⁽³⁾		Interest Rate (%)			Maturity	Current Estimated Annual Debt Service ($000)		Balloon Payment ($000)		Proportionate Share Balloon Payment ($000) ⁽³⁾
Rehab Humble Lessee	$	14,495	$	2,174		4.700	%	05/2017	$	950	$	13,982	$	2,097
Gan Palm Beach Lessee		14,618		3,654		3.700	%	03/2018		842		13,768		3,442
BP Lessee		18,791		2,819		4.010	%	11/2018		764		18,791		2,819
Total/Wtg. Avg. ⁽¹⁾/Years Remaining ⁽²⁾	$	47,904	$	8,647		4.052	%	2.7	$	2,556	$	46,541	$	8,358

Footnotes

(1)

Weighted-average interest rate based on proportionate share.

(2)

Weighted-average years remaining on maturities based on proportionate debt balance.

(3)

Total balance shown may differ from detailed amounts due to rounding.

LEXINGTON REALTY TRUST

Debt Maturity Schedule

6/30/2015

($000)

Consolidated Properties
Year	Mortgage Scheduled Amortization		Mortgage Balloon Payments		Corporate Debt
2015 - remaining	$	12,796	$	-	$	-
2016		27,258		129,868		-
2017		27,774		68,671		105,800
2018		27,488		18,157		250,000
2019		23,604		83,767		255,000
	$	118,920	$	300,463	$	610,800

Non-Consolidated Investments - LXP Proportionate Share
Year	Mortgage Scheduled Amortization		Mortgage Balloon Payments
2015 - remaining	$	56	$	-
2016		118		-
2017		94		2,097
2018		21		6,261
2019		-		-
	$	289	$	8,358

Footnotes

(1)

Percentage denotes weighted-average interest rate.

LEXINGTON REALTY TRUST

Mortgage Loans Receivable

6/30/2015

Collateral									Current
	City	State	Loan Balance ($000)(1)		Interest Rate			Maturity Date	Estimated Annual Debt Service ($000)(2)		Balloon Payment ($000)		Escrow Balance ($000)
Office	Westmont (3)	IL	$	12,469		6.45	%	10/2015	$	-	$	25,731	$	2,555
	Oklahoma City (4)	OK		8,474		11.50	%	10/2015		315		8,420		-
Retail	Various	Various		968		8.00	%	02/2021		219		-		-
	Various	Various		449		8.00	%	12/2021		94		-		-
	Various	Various		585		8.00	%	03/2022		112		-		-
Hospital	Kennewick	WA		85,364		9.00	%	05/2022		7,438		87,245		-
	Total Mortgage Loans Receivable		$	108,309					$	8,178	$	121,396	$	2,555

Footnotes

(1) Includes accrued interest receivable, loan losses, and net origination fees.

(2) Remaining collections for debt less than 12 months to maturity, all others are debt service for next 12 months.

(3) Escrow balance includes $2.5 million in a collateral securities account maintained by the borrowers. Borrowers are in default, and Lexington commenced foreclosure proceedings. Tenant in property terminated the lease effective 11/30/2013 for a termination payment of $1.3 million. Loan balance includes $13.9 million loan loss.

(4) Short-term loan to joint venture partner.

LEXINGTON REALTY TRUST

Partnership Interests

Six months ended June 30, 2015

($000)

Noncontrolling Interest Properties - Partners' Proportionate Share (1)

EBITDA	$	232
Interest expense	$	23
Depreciation and amortization	$	229

Non-Consolidated Net Leased Real Estate - Lexington's Share

EBITDA	$	1,935
Interest expense	$	330

Footnotes

(1) Excludes discontinued operations and OP unit noncontrolling interests.

LEXINGTON REALTY TRUST

Selected Balance Sheet and Income Statement Account Data

6/30/2015

($000)

Balance Sheet

Other assets	$	26,113

The components of other assets are:

Deposits	$	6,839
Equipment		135
Prepaids		2,562
Other receivables		1,245
Deferred lease incentives		15,147
Deferred tax asset		61
Other		124

Accounts payable and other liabilities

The components of accounts payable and other liabilities are:	$	43,070

Accounts payable and accrued expenses	$	14,603
CIP accruals and other		10,553
Taxes		1,790
Deferred lease and loan costs		7,062
Subordinated notes		2,789
Deposits		1,093
Escrows		1,387
Transaction / build-to-suit costs		1,567
Interest rate swap derivative liability		2,226

Income Statement - Six months ended June 30, 2015

Non-cash interest expense, net	$	(444	)

Investor Information

Transfer Agent

Computershare	Overnight Correspondence:
PO Box 30170	211 Quality Circle, Suite 210
College Station, TX 77842-3170	College Station, TX, 77845
(800) 850-3948
www-us.computershare.com/investor

Investor Relations

Patrick Carroll
Executive Vice President and Chief Financial Officer
Telephone (direct)	(212) 692-7215
Facsimile (main)	(212) 594-6600
E-mail	pcarroll@lxp.com

Research Coverage

Bank of America/Merrill Lynch		KeyBanc Capital Markets Inc.
James Feldman	(646) 855-5808	Craig Mailman	(917) 368-2316

Barclays Capital		Ladenburg Thalmann & Co., Inc.
Ross L. Smotrich	(212) 526-2306	Daniel P. Donlan	(212) 409-2056

Evercore Partners		Stifel Nicolaus
Sheila K. McGrath	(212) 497-0882	John W. Guinee	(443) 224-1307

J.P. Morgan Chase		Wells Fargo Securities, LLC
Anthony Paolone	(212) 622-6682	Todd J. Stender	(212) 214-8067

Jeffries & Company, Inc.
Omotayo Okusanya	(212) 336-7076

Appendix A

Land, Infrastructure & Credit Tenant Finance Group

Supplemental Operating and Financial Data

June 30, 2015

LAND, INFRASTRUCTURE & CREDIT TENANT FINANCE GROUP

SUPPLEMENTAL REPORTING PACKAGE

June 30, 2015

Table of Contents

Section		Page

Portfolio Data
Balance Sheet, Income Statement and Company FFO/FAD		A-3
Select Data		A-4
Top 10 Tenants or Guarantors		A-5
Property Leases and Vacancies – Consolidated Portfolio		A-6
Mortgages and Notes Payable		A-7
New York Leased Land Portfolio Projected Cash Flows		A-8

LAND, INFRASTRUCTURE, & CREDIT TENANT FINANCE GROUP

Balance Sheet, Income Statement and Company FFO/FAD

6/30/2015

($000)

Balance Sheet

Land	$	321,448
Buildings, improvements and real estate intangibles, net		320,199

Cash		1,845
Deferred - accounts receivable		54,837
Other assets		19,790
Total Assets	$	718,119

Mortgages payable	$	437,377
Other liabilities		4,862
Total Liabilities		442,239

Equity		275,880
Total Liabilities and Equity	$	718,119

Income Statement and Company FFO/FAD

Revenue:
Rental	$	45,577
Other		444

Expenses:
Depreciation and amortization		(11,081	)
Property operating		(1,090	)
Interest		(9,279	)
Other		(52	)
Net Income		24,519

Adjustments:
Depreciation and amortization		11,081
Other/transaction costs		172
Company FFO		35,772

GAAP to Cash rent adjustment		(17,999	)
Tenant improvements		(8	)

Company FAD	$	17,765

A-3

LAND, INFRASTRUCTURE, & CREDIT TENANT FINANCE GROUP

Select Data

6/30/2015

($000)

Other Revenue Data

	GAAP Base Rent
	Six months ended
Asset Class	6/30/15 (1)		6/30/15 Percentage
Land and Infrastructure	$	30,644		67.2	%
Office		10,298		22.6	%
Industrial		3,771		8.3	%
Specialty		864		1.9	%
	$	45,577		100.0	%

Credit Ratings ⁽²⁾	GAAP Base Rent
	Six months ended
	6/30/15 (1)		6/30/15 Percentage
Investment Grade	$	14,177		31.1	%
Non-Investment Grade		1,061		2.3	%
Unrated		30,339		66.6	%
	$	45,577		100.0	%

Weighted-Average Lease Term - Cash Basis

				As of 6/30/15 with Lease Term End at First Purchase Option
		As of 6/30/15		Date
		37.5 years		15.5 years

Base Rent Estimates for Current Assets

Year	Cash ⁽³⁾		GAAP ⁽³⁾		Projected Straight-Line / GAAP Adjustment
2015 - remaining	$	28,023	$	45,881	$	(17,858	)
2016	$	56,504	$	91,762	$	(35,258	)

Footnotes

(1)

Six months ended 6/30/2015 GAAP base rent recognized for consolidated properties owned as of 6/30/2015.

(2)

Credit ratings are based upon either tenant, guarantor or parent.

(3)

Amounts assume (1) lease terms for non-cancellable periods only and (2) no new or renegotiated leases are entered into after 6/30/2015.

A-4

LAND, INFRASTRUCTURE, & CREDIT TENANT FINANCE GRIOUP

Top 10 Tenants or Guarantors

6/30/2015

Top 10 Tenants or Guarantors - Cash Basis

Tenants or Guarantors	Number of Leases	Sq. Ft. Leased		Sq. Ft. Leased as a Percent of Consolidated Portfolio (2)			Cash Base Rent as of 6/30/2015 ($000) (1)		Percent of Cash Base Rent as of 6/30/2015 ($000) (1) (2)
Xerox Corporation	1		202,000		8.7	%	$	3,535		12.8	%
LG-39 Ground Tenant LLC	1		0		0.0	%		2,876		10.4	%
United States of America	1		169,585		7.3	%		2,794		10.1	%
Industrial Terminals Management, L.L.C.	1		132,449		5.7	%		2,723		9.9	%
FC-Canal Ground Tenant LLC	1		0		0.0	%		2,465		8.9	%
FedEx Corporation	1		140,330		6.0	%		2,385		8.6	%
Cummins, Inc.	1		390,100		16.8	%		2,295		8.3	%
AL-Stone Ground Tenant LLC	1		0		0.0	%		2,250		8.2	%
New Jersey Natural Gas Company	1		157,511		6.8	%		1,656		6.0	%
United Technologies Corporation	1		993,685		42.7	%		1,010		3.7	%
	10		2,185,660		93.9	%	$	23,989		87.0	%

Top 10 Tenants or Guarantors - GAAP Basis

Tenants or Guarantors	Number of Leases	Sq. Ft. Leased		Sq. Ft. Leased as a Percent of Consolidated Portfolio (2)			GAAP Base Rent as of 6/30/2015 ($000) (3)		Percent of GAAP Base Rent as of 6/30/2015 ($000) (3) (2)
LG-39 Ground Tenant LLC	1		0		0.0	%	$	8,686		19.1	%
FC-Canal Ground Tenant LLC	1		0		0.0	%		7,445		16.3	%
AL-Stone Ground Tenant LLC	1		0		0.0	%		6,795		14.9	%
Industrial Terminals Management, L.L.C.	1		132,449		5.7	%		3,387		7.4	%
Xerox Corporation	1		202,000		8.7	%		3,321		7.3	%
United States of America	1		169,585		7.3	%		3,051		6.7	%
FedEx Corporation	1		140,330		6.0	%		2,568		5.6	%
ZE-45 Ground Tenant LLC	1		0		0.0	%		2,311		5.1	%
Cummins, Inc.	1		390,100		16.8	%		2,270		5.0	%
New Jersey Natural Gas Company	1		157,511		6.8	%		1,656		3.6	%
	10		1,191,975		51.2	%		41,490		91.0	%

Footnotes

(1)

Six months ended 6/30/2015 cash base rent recognized for consolidated properties owned as of 6/30/2015.

(2)

Total shown may differ from detailed amounts due to rounding.

(3)

Six months ended 6/30/2015 GAAP base rent recognized for consolidated properties owned as of 6/30/2015.

A-5

LAND, INFRASTRUCTURE AND CREDIT TENANT FINANCE GROUP

Property Leases and Vacancies - Consolidated Portfolio - 6/30/2015

Date of Lease Expiration	Property Location	City	State	Note		Primary Tenant (Guarantor)	Property Type	Sq.Ft. Leased or Available (1)		Cash Rent as of 6/30/2015 ($000) (2)		GAAP Base Rent as of 6/30/2015 ($000) (3)		6/30/2015 Debt Balance ($000)

12/31/2017	11411 North Kelly Ave.	Oklahoma City	OK		—	American Golf Corporation	Specialty		13,924		237		162		-
7/31/2019	500 Jackson St.	Columbus	IN		—	Cummins, Inc.	Office		390,100		2,295		2,270		23,105
6/30/2021	1415 Wyckoff Rd.	Wall	NJ		—	New Jersey Natural Gas Company	Office		157,511		1,656		1,656		18,834
12/14/2023	3333 Coyote Hill Rd.	Palo Alto	CA		—	Xerox Corporation	Office		202,000		3,535		3,321		51,049
4/30/2024	113 Wells St.	North Berwick	ME		—	United Technologies Corporation	Industrial		993,685		1,010		928		5,483
12/31/2025	1700 47th Ave North	Minneapolis	MN		—	Owens Corning Roofing and Asphalt, LLC	Industrial		18,620		275		275		-
8/31/2026	25500 State Hwy. 249	Tomball	TX		—	Parkway Chevrolet, Inc. (Raymond Durdin & Jean W. Durdin)	Specialty		77,076		718		702		8,535
10/31/2027	11201 Renner Blvd.	Lenexa	KS		—	United States of America	Office		169,585		2,794		3,051		37,488
3/31/2028	29-01-Borden Ave./29-10 Hunters Point Ave.	Long Island City	NY		—	FedEx Ground Package System, Inc. (FedEx Corporation)	Industrial		140,330		2,385		2,568		50,289
1/31/2029	175 Holt Garrison Pkwy.	Danville	VA		—	Home Depot USA, Inc.	Land and Infrastructure		0		130		108		-
4/30/2032	13930 Pike Rd.	Missouri City	TX		—	Vulcan Construction Materials, LP (Vulcan Materials Company)	Land and Infrastructure		0		915		1,061		-
3/31/2038	13901/14035 Industrial Rd.	Houston	TX		—	Industrial Terminals Management, L.L.C. (Maritime Holdings (Delaware) LLC)	Land and Infrastructure		132,449		2,723		3,387		-
1/31/2055	499 Derbyshire Drive	Venice	FL		—	Littlestone Brotherhood LLC	Land and Infrastructure		31,180		564		851		-
10/31/2112	350 and 370-372 Canal St.	New York	NY		—	FC-Canal Ground Tenant LLC	Land and Infrastructure		0		2,465		7,445		69,298
	309-313 West 39th St.	New York	NY		—	LG-39 Ground Tenant LLC	Land and Infrastructure		0		2,876		8,686		80,856
	8-12 Stone St.	New York	NY		—	AL-Stone Ground Tenant LLC	Land and Infrastructure		0		2,250		6,795		63,247
10/31/2113	15 West 45th St.	New York	NY		—	ZE-45 Ground Tenant LLC	Land and Infrastructure		0		750		2,311		29,193
						100% Leased			2,326,460	$	27,578	$	45,577	$	437,377

Footnotes

(1) Square feet leased or available.

(2) Six months ended 6/30/2015 cash rent.

(3) Six months ended 6/30/2015 GAAP rent.

A-6

LAND, INFRASTRUCTURE & CREDIT TENANT FINANCE GROUP

Mortgages and Notes Payable

6/30/2015

Property	Footnotes	Debt Balance ($000)		Interest Rate (%)			Maturity ^(a)	Current Estimated Annual Debt Service ($000)		Balloon Payment ($000)
Tomball, TX		$	8,535		6.063	%	11/2016	$	683	$	8,041
North Berwick, ME			5,483		3.560	%	04/2019		1,532		-
Columbus, IN			23,105		2.210	%	07/2019		4,742		4,993
Wall, NJ			18,834		6.250	%	01/2021		3,774		-
Palo Alto, CA			51,049		3.970	%	12/2023		7,059		-
New York, NY			29,193		4.100	%	01/2025		1,217		29,193
New York, NY	(b)		213,401		4.660	%	01/2027		10,190		200,632
Lenexa, KS			37,488		3.700	%	11/2027		3,027		10,000
Long Island City, NY			50,289		3.500	%	03/2028		4,538		-

Total/Wtg. Avg./Years Remaining ^(c)		$	437,377		4.279	%	10.3	$	36,762	$	252,859

Footnotes

(a)

Total based on weighted-average term to maturity shown in years based on debt balance.

(b)

Loan is cross-collateralized on three properties.

(c)

Total shown may differ from detailed amounts due to rounding.

A-7

LAND, INFRASTRUCTURE & CREDIT TENANT FINANCE GROUP

New York Leased Land Portfolio ⁽¹⁾

Projected Cash Flows ($000)

Aggregate Acquisition Cost:	$	332,426	Rent Escalations:	2	%

Aggregate Financing ⁽²⁾:	$	242,693	Assumed CPI:	2	%

Initial Equity:	$	89,733

Year	Annual Cash Rent		Debt Service ⁽³⁾		Net Cash Flow		Yield on Equity

1	$	16,383	$	10,867	$	5,516		6.1	%
2		16,711		11,336		5,375		6.0	%
3		17,045		11,473		5,572		6.2	%
4		17,386		11,610		5,776		6.4	%
5		17,733		11,743		5,990		6.7	%
6		18,088		11,874		6,214		6.9	%
7		18,450		11,995		6,455		7.2	%
8		18,819		12,115		6,704		7.5	%
9		19,195		12,230		6,965		7.8	%
10		19,579		12,343		7,236		8.1	%
11		19,971		12,692		7,279		8.1	%
12		20,370		12,793		7,577		8.4	%
13		20,778		12,888		7,890		8.8	%
14		21,193		11,490		9,703		10.8	%
15		21,617		11,491		10,126		11.3	%
16		22,049		11,491		10,558		11.8	%
17		22,490		11,491		10,999		12.3	%
18		22,940		11,491		11,449		12.8	%
19		23,399		11,491		11,908		13.3	%
20		23,867		11,491		12,376		13.8	%
21		24,344		11,491		12,853		14.3	%
22		24,831		11,491		13,340		14.9	%
23		25,328		11,491		13,837		15.4	%
24		25,834		11,491		14,343		16.0	%
25		26,351		11,491		14,860		16.6	%

Residual Value ⁽⁴⁾						491,537
TOTAL	$	524,751	$	293,850	$	722,438

Leveraged Internal Rate of Return								11.3	%

Footnotes

(1)

Includes four long-term leased land properties located in New York City.

(2)

The properties are encumbered with an initial aggregate $242.7 million of non-recourse mortgages. $213.5 million at 4.66% matures January 2027 and $29.2 million at 4.1% matures January 2025.

(3)

Debt assumed refinanced at 5% interest only.

(4)

Purchase option less projected debt.

A-8

LAND, INFRASTRUCTURE & CREDIT TENANT FINANCE GROUP

New York Leased Land Portfolio ⁽¹⁾

Projected Cash Flows ($000)

Aggregate Acquisition Cost:	$	332,426	Rent Escalations:	2	%

Aggregate Financing ⁽²⁾:	$	242,693	Assumed CPI:	3	%

Initial Equity:	$	89,733

Year	Annual Cash Rent		Debt Service ⁽³⁾		Net Cash Flow		Yield on Equity

1		16,383		10,867		5,516		6.1	%
2		16,711		11,336		5,375		6.0	%
3		17,045		11,473		5,572		6.2	%
4		17,386		11,610		5,776		6.4	%
5		17,733		11,743		5,990		6.7	%
6		18,088		11,874		6,214		6.9	%
7		18,450		11,995		6,455		7.2	%
8		18,819		12,115		6,704		7.5	%
9		19,195		12,230		6,965		7.8	%
10		19,579		12,343		7,236		8.1	%
11		22,017		12,692		9,325		10.4	%
12		22,458		12,793		9,665		10.8	%
13		22,907		12,888		10,019		11.2	%
14		23,365		11,490		11,875		13.2	%
15		23,832		11,491		12,341		13.8	%
16		24,309		11,491		12,818		14.3	%
17		24,795		11,491		13,304		14.8	%
18		25,291		11,491		13,800		15.4	%
19		25,797		11,491		14,306		15.9	%
20		26,313		11,491		14,822		16.5	%
21		29,590		11,491		18,099		20.2	%
22		30,181		11,491		18,690		20.8	%
23		30,785		11,491		19,294		21.5	%
24		31,401		11,491		19,910		22.2	%
25		32,029		11,491		20,538		22.9	%

Residual Value ⁽⁴⁾						410,428
TOTAL	$	574,459	$	293,850	$	691,037

Leveraged Internal Rate of Return								11.4	%

Footnotes

(1)

Includes four long-term leased land properties located in New York.

(2)

The properties are encumbered with an initial aggregate $242.7 million of non-recourse mortgages. $213.5 million at 4.66% matures January 2027 and $29.2 million at 4.1% matures January 2025.

(3)

Debt assumed refinanced at 5% interest only.

(4)

Purchase option less projected debt.

A-9

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