EX-99 3 ex99-2.txt EXHIBIT 99.2 Exhibit 99.2 LEXINGTON CORPORATE PROPERTIES TRUST SUPPLEMENTAL REPORTING PACKAGE For the twelve months ended December 31, 2005 Table of Contents Income Statements............................................. 1 Balance Sheets................................................ 2 Combined Joint Venture Income Statement....................... 3 Fourth Quarter Transaction Summary............................ 4 Third Quarter Transaction Summary............................. 5 Second Quarter Transaction Summary............................ 7 First Quarter Transaction Summary............................. 10 Property Holdings............................................. 11 Properties by Location........................................ 24 Lease Rollover Schedules...................................... 25 Mortgages and Notes Payable................................... 27 Revenue by Tenant Industry.................................... 33 Revenue by MSA................................................ 34 Other Revenue Data............................................ 36 LEXINGTON CORPORATE PROPERTIES TRUST AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (dollars in thousands, except per share data)
Three Months Ended Year Ended December 31, December 31, 2005 2004 2005 2004 ---- ---- ---- ---- Gross revenues: Rental $ 49,043 $ 34,714 $ 180,871 $ 133,050 Advisory fees 1,180 1,710 5,365 4,885 Tenant reimbursements 3,702 1,471 10,896 5,429 ---------- ---------- ---------- ---------- Total gross revenues 53,925 37,895 197,132 143,364 Expense applicable to revenues: Depreciation and amortization (20,909) (11,770) (70,906) (38,928) Property operating (7,537) (3,035) (23,494) (10,756) General and administrative (4,441) (3,878) (17,612) (13,877) Impairment loss (12,050) (3,584) (12,050) (3,584) Non-operating income 330 710 1,519 3,272 Interest and amortization expense (18,309) (11,839) (65,065) (44,857) Debt satisfaction (charges) gain, net (222) (56) 4,409 (56) Write-off - tenant bankruptcy - (2,884) - (2,884) ---------- ----------- ---------- ----------- (Loss) income before benefit (provision) for income taxes, minority interests, equity in earnings of non-consolidated entities and discontinued operations (9,213) 1,559 13,933 31,694 Benefit (provision) for income taxes 105 635 150 (1,181) Minority interests 963 377 (2,111) (2,414) Equity in earnings of non-consolidated entities 1,132 1,811 6,220 7,194 ---------- ---------- ---------- ---------- (Loss) income from continuing operations (7,013) 4,382 18,192 35,293 ----------- ---------- ---------- ---------- Discontinued operations, net of minority interest: Income from discontinued operations 1,041 1,273 4,479 6,830 Debt satisfaction charges (671) -- (725) -- Impairment charges (29) (16) (829) (2,791) Gains on sales of properties 4,922 1,410 11,578 5,475 ---------- ---------- ---------- ---------- Total discontinued operations 5,263 2,667 14,503 9,514 ---------- ---------- ---------- ---------- Net (loss) income (1,750) 7,049 32,695 44,807 Dividends attributable to preferred shares - Series B (1,590) (1,590) (6,360) (6,360) Dividends attributable to preferred shares - Series C (2,519) (585) (10,075) (585) ----------- ----------- ----------- ----------- Net (loss) income allocable to common shareholders $ (5,859) $ 4,874 $ 16,260 $ 37,862 =========== ========== ========== ========== Funds from operations(1) $ 16,796 $ 18,514 $ 104,150 $ 83,642 ========== ========== ========== ========== Per share/unit Basic net (loss) income $ (0.11) $ 0.10 $ 0.33 $ 0.81 Diluted net (loss) income $ (0.11) $ 0.09 $ 0.33 $ 0.80 Funds from operations(1)-basic $ 0.27 $ 0.34 $ 1.71 $ 1.60 Funds from operations(1)-diluted $ 0.27 $ 0.34 $ 1.70 $ 1.60
1 LEXINGTON CORPORATE PROPERTIES TRUST AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (dollars in thousands)
12/31/05 12/31/04 -------- -------- Real estate, at cost $ 1,883,115 $ 1,407,872 Accumulated depreciation (241,188) (180,610) Investment in joint ventures 191,146 132,738 Properties held for sale - discontinued operations 49,397 13,216 Intangible assets, net 128,775 54,736 Cash and cash equivalents 53,515 146,957 Deferred expenses, net 13,582 7,860 Rent receivable 7,673 4,123 Rent receivable - deferred 24,778 23,923 Due from affiliates -- 45,800 Other assets 49,439 40,471 ----------- ----------- $ 2,160,232 $ 1,697,086 =========== =========== Mortgages and notes payable $ 1,139,971 $ 765,144 Liabilities - discontinued operations 32,145 1,688 Other liabilities 25,380 22,387 Prepaid rent 10,054 3,818 Minority interests 61,372 56,759 Shareholders' equity 891,310 847,290 ----------- ----------- $ 2,160,232 $ 1,697,086 =========== =========== Common shares 52,155,855 48,621,273 Preferred shares - Series B 3,160,000 3,160,000 Preferred shares - Series C 3,100,000 2,700,000 Operating partnership units 5,720,071 5,408,699 ----------- ----------- 64,135,926 59,889,972 =========== ===========
1 The Company believes that Funds From Operations ("FFO") enhances an investor's understanding of the Company's financial condition, results of operations and cash flows. The Company believes that FFO is an appropriate, but limited, measure of the performance of an equity REIT. FFO is defined in the April 2002 "White Paper" issued by the National Association of Real Estate Investment Trusts, Inc. ("NAREIT") as "net income (or loss) computed in accordance with generally accepted accounting principles ("GAAP"), excluding gains (or losses) from sales of property, plus real estate depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures." FFO should not be considered an alternative to net income as an indicator of operating performance or to cash flows from operating activities as determined in accordance with GAAP, or as a measure of liquidity to other consolidated income or cash flow statement data as determined in accordance with GAAP. 2 LEXINGTON CORPORATE PROPERTIES TRUST JOINT VENTURE PROPORTIONATE SHARE COMBINED CONDENSED STATEMENTS OF INCOME (dollars in thousands)
Three Months Ended Year Ended December 31, 2005 December 31, 2005 ----------------- ----------------- Gross Revenue $ 12,433 $ 44,518 ---------- ---------- Depreciation and amortization 5,076 16,915 Interest and amortization 4,458 16,210 Other income and expenses 2,017 6,507 Debt satisfaction charges -- 650 ---------- ---------- Expenses 11,551 40,282 ---------- ---------- Income before gain on sale of properties 882 4,236 Gain on sale of properties -- 1,740 ---------- ---------- Net income $ 882 $ 5,976 ========== ==========
3 LEXINGTON CORPORATE PROPERTIES TRUST 2005 Fourth Quarter Transaction Summary
Acquisitions ($000's) Average Current Annual Average Annual Current Property Capitalized GAAP GAAP Cash Cash Lease Tenants/Guarantors Location Type Costs Rent, net Yield Rent, net Yield Term ------------------ -------- ---- ----- --------- ----- --------- ----- ---- (i) Structure, LLC (Infocrossing, Omaha, NE Office $ 12,873 $ 1,167 9.1% $ 1,167 9.1% Nov-25 Inc.)(3) Kelsey-Seybold Clinic (St. Luke's Episcopal Health System) Houston, TX Office 14,484 1,229 8.5% 1,114 7.7% Nov-20 Federal Express Corp.(5) Colliersville, TN Industrial 4,657 480 10.3% 480 10.3% Jan-21 Accor S.A.(2) Carrollton, TX Office 32,363 2,511 7.8% 2,266 7.0% Jul-15 (i) Structure, LLC (Infocrossing, Tempe, AZ Office 12,163 1,128 9.3% 1,128 9.3% Dec-25 --------- --------- --- -------- --- Inc.)(3) $ 76,540 $ 6,515 8.5% $ 6,155 8.0% ========= ======== === ======== === Dispositions ($000's) Property Tenants/Guarantors Location Type Net Sale Price Net Book Value ------------------ -------- ---- -------------- -------------- Vacant Mansfield, OH Industrial $ 2,670 $ 2,706 Cymer, Inc. San Diego, CA Office 11,834 8,156 Bally's Health & Tennis Corp. Phoenix, AZ Retail 6,980 5,690 --------- --------- $ 21,484 $ 16,552 ========= ========= Lease Extensions/New Leases ($000's) Extension Property Previous Extended Rent Per Tenants/Guarantors Location Type Term Term Annum ------------------ -------- ---- ---- ---- ----- Exel Logistics, Inc. (NFC plc) Mechanicsburg, PA Industrial Nov-06 Dec-07 $ 945 === New Financings ($000's) Tenants/Guarantors Location Amount Rate Maturity Date ------------------ -------- ------ ---- ------------- McGraw Hill Companies, Inc. Dubuque, IA $ 10,875 5.40% Jun-17 California Culinary Academy LLC (Career Education Corp.)(1) San Francisco, CA 22,080 5.58% Nov-19 TI Automotive Group Systems, LLC(3) Lavonia, GA 10,100 5.46% Dec-20 Kelsey-Seybold Clinic (St. Luke's Episcopal Health Systems) Sugarland, TX 10,000 5.64% Dec-20 Accor S.A.(2) Carrollton, TX 20,800 5.27% Jul-15 --------- ---- $ 73,855 5.46% ======== ==== Mortgage Investment ($000's) Invested Face Tenants/Guarantors Location Amount Amount ------------------ -------- ------ ------ Dana Corporation(4) Kentucky - 5 $ 22,998 $ 30,000 locations ======== ========
(1) Lexington has a 30% interest in this property through Lexington/Lion Venture LP. (2) Lexington has a 25% interest in this property through Lexington Acquiport Company II, LLC. (3) Lexington has a 32.3% interest in this property through Lexington Strategic Asset Corp. (4) Invested amount is treated as a reduction in mortgages payable in the consolidated financial statements since they are mortgage obligations of Lexington. (5) Capitalized costs include anticipated improvement allowance. 4 LEXINGTON CORPORATE PROPERTIES TRUST 2005 Third Quarter Transaction Summary
Acquisitions ($000's) Average Current Annual Average Annual Current Property Capitalized GAAP GAAP Cash Cash Lease Tenants/Guarantors Location Type Costs Rent, net Yield Rent, net Yield Term ------------------ -------- ---- ----- --------- ----- --------- ----- ---- California Culinary Academy, LLC (1) (Career Education Corp.) San Francisco, CA Office $ 36,905 $ 2,469 6.7% $ 2,492 6.8% Nov-19 Georgia Power Company (2) McDonough, GA Office 19,761 1,511 7.6 1,421 7.2 Jun-15 Omnipoint Holdings, Inc. (2) (T-Mobile USA, Inc.) Oakland, ME Office 14,044 1,366 9.7 1,192 8.5 Aug-20 TI Group Automotive Systems, LLC (4) Lavonia, GA Industrial 14,379 1,200 8.3 1,200 8.3 May-20 --------- -------- --- -------- --- $ 85,089 $ 6,546 7.7% $ 6,305 7.4% ========= ======== === ======== === Completed Expansions ($000's) Average Current Expanded Annual Average Annual Property Square Capitalized GAAP GAAP Cash Rent, Cash Tenants/Guarantors Location Type Feet Costs Rent, net Yield net Yield ------------------ -------- ---- ---- ----- --------- ----- --- ----- Harbor Freight Tools (Central Purchasing, Inc.) Dillon, SC Industrial 536,386 $ 13,154 $ 1,107 8.4% $ 1,107 8.4% Owens Corning Chester, SC Industrial 226,706 6,404 567 8.9 567 8.9 ------- ------- ------ --- ----- --- 763,092 $ 19,558 $ 1,674 8.6% $ 1,674 8.6% ======= ======= ====== === ===== === Dispositions ($000's) Property Tenants/Guarantors Location Type Net Sale Price Net Book Value ------------------ -------- ---- -------------- -------------- Hollywood Entertainment Corp. Wilsonville, OR Office $ 14,036 $ 12,428 NEC America, Inc. (3) Herndon, VA Office 23,496 18,277 --------- --------- $ 37,532 $ 30,705 ========= ========= Lease Extensions/New Leases ($000's) Extension Property Previous Extended Rent Per Tenants/Guarantors Location Type Term Term Annum ------------------ -------- ---- ---- ---- ----- Avnet, Inc. Phoenix, AZ Office Nov-07 Nov-12 $ 2,205 Joseph Campbell Company Marshall, MI Industrial Aug-05 Aug-07 $ 140 Mimeo.com, Inc. Memphis, TN Industrial Oct-09 Sep-20 $ 270 Physical Fitness Centers of Philadelphia, Voorhees, NJ Retail Jun-07 Jun-17 $ 442 Inc. (Bally Total Fitness Corp) Associated Billing Services, LLC Phoenix, AZ Office -- Jul-16 $ 300 Owens Corning Chester, SC Industrial Aug-20 Aug-25 $ 2,186
5 LEXINGTON CORPORATE PROPERTIES TRUST 2005 Third Quarter Transaction Summary New Financings ($000's) Tenants/Guarantors Location Amount Rate Maturity Date ------------------ -------- ------ ---- ------------- Dana Corporation Elizabethtown, KY $ 25,603 4.99% Jul-15 Dana Corporation Elizabethtown, KY 4,822 4.99% Jul-15 Dana Corporation Hopkinsville, KY 15,001 4.99% Jul-15 Dana Corporation Owensboro, KY 10,846 4.99% Jul-15 Dana Corporation Dry Ridge, KY 12,128 4.99% Jul-15 Georgia Power Company (2) McDonough, GA 12,675 5.21% Jun-15 Omnipoint Holdings, Inc. (2)(T-Mobile USA, Inc.) Oakland, ME 10,500 5.93% Oct-20 Owens Corning Chester, SC 14,000 5.38% Aug-25 -------- ---- $ 105,575 5.16% ======== ==== (1) Lexington has a 30% interest in this property through Lexington/Lion Venture LP. (2) Lexington has a 25% interest in this property through Lexington Acquiport Company II, LLC. (3) Lexington has a 33 1/3% interest in this property through Lexington Acquiport Company LLC. (4) Lexington has a 32.3% interest in this property through Lexington Strategic Asset Corp. 6 LEXINGTON CORPORATE PROPERTIES TRUST 2005 Second Quarter Transaction Summary
Acquisitions ($000's) Average Current Annual Average Annual Current Property Capitalized GAAP GAAP Cash Cash Lease Tenants/Guarantors Location Type Costs Rent, net Yield Rent, net Yield Term ------------------ -------- ---- ----- --------- ----- --------- ----- ---- Bank of America NT & SA (1) Los Angeles, CA Office $ 121,075 $ 9,106 7.5% $ 7,574 6.5% Jun-12 Internet Security Systems, Inc. Atlanta, GA Office 76,606 5,676 7.4 5,141 6.7 May-13 Nissan Motor Acceptance Corp./ NissanNorth America, Inc. (2) Irving, TX Office 60,414 4,810 8.0 4,505 7.5 Mar-13 Experian Information Solutions, Inc./TRW Inc. Dallas, TX Office 47,022 3,374 7.2 3,154 6.7 Oct-10 Capital One Services, Inc. (3) - 3 Richmond, VA Office 33,049 2,890 8.7 2,841 8.6 May-06 leases & Mar-10 Chrysler Financial Company LLC (2) Westlake, TX Office 32,297 2,740 8.5 2,390 7.4 Dec-11 Dana Corporation Farmington Hills, Office 29,258 2,319 7.9 2,331 8.0 Oct-21 MI Transocean, Inc. & Newpark Aug-09 Resources, Houston, TX Office 25,512 2,256 8.8 2,176 8.5 & Mar-11 Inc. Ikon Office Solutions, Inc. Houston, TX Office 26,765 2,251 8.4 2,229 8.3 Jan-13 Lucent Technologies, Inc. (3) Raleigh, NC Office 22,428 1,643 7.3 2,041 9.1 Sep-11 ASM Lithograph Holding NV Tempe, AZ Office 21,014 1,841 8.8 2,130 10.1 Jun-13 John Wiley & Sons, Inc. Fishers, IN Office 21,533 1,873 8.7 2,094 9.7 Oct-09 AT&T Wireless Services, Inc. & Aug-10 Jordan Associates, Inc. (5) Oklahoma City, OK Office 21,524 1,698 7.9 1,678 7.8 & Dec-08 Kerr-McGee Corporation Houston, TX Office 19,264 1,627 8.4 1,559 8.1 Jul-14 PacifiCare Health Systems, Inc. San Antonio, TX Office 19,812 1,621 8.2 1,640 8.3 Nov-10 AT&T Wireless Services, Inc. Harrisburg, PA Office 15,103 1,449 9.6 1,433 9.5 Nov-08 The Dial Corporation Phoenix, AZ Office 23,594 1,914 8.1 1,388 6.4 Aug-08 AmeriCredit Corporation (6) Jacksonville, FL Office 12,761 1,530 12.0 1,460 11.4 Jun-11 Metris Companies, Inc. (6) Tulsa, OK Office 13,115 1,307 10.0 1,307 10.0 Jan-10 Kraft Foods North America, Inc. & Jan-12 PerkinElmer Instruments LLC Atlanta, GA Office 16,610 1,298 7.8 1,232 7.4 & Nov-16 Alstom Power, Inc. (6) Richmond, VA Office 15,841 1,421 9.0 1,214 7.7 Oct-14 Travelers Express Company, Inc. Lakewood, CO Office 12,025 865 7.2 1,091 9.1 Mar-12 Allstate Insurance Company Indianapolis, IN Office 16,200 1,372 8.5 1,056 7.2 Aug-12 Gartner, Inc. Fort Meyers, FL Office 13,559 1,052 7.8 998 7.4 Jan-13 Ingram Micro, Inc. Memphis, TN Industrial 24,418 2,271 9.3 2,112 8.6 Sep-11 Dana Corporation Kalamazoo, MI Industrial 23,603 1,954 8.3 1,843 7.8 Oct-21 EDS Information Services LLC/ Electric Data Systems Corp. (2) Des Moines, IA Industrial 34,070 2,856 8.4 2,663 7.8 Apr-12 Dana Corporation 5 locations - KY Industrial 78,900 6,968 8.8 6,968 8.8 Jun-25 Morgan, Lewis & Bockius LLP (4) Philadelphia, PA Office 68,257 4,856 7.1 4,847 7.1 Jan-14 --------- -------- --- -------- --- $ 945,629 $ 76,838 8.1% $ 73,095 7.8% ========= ======== === ======== ===
7 LEXINGTON CORPORATE PROPERTIES TRUST 2005 Second Quarter Transaction Summary
Dispositions ($000's) Property Tenants/Guarantors Location Type Net Sale Price Net Book Value ------------------ -------- ---- -------------- -------------- Haverty Furniture Company, Inc. & Offenbacher Aquatics Columbia, MD Retail $ 11,599 $ 6,617 Lease Extensions/New Leases ($000's) Extension Property Previous Extended Rent Per Tenants/Guarantors Location Type Term Term Annum ------------------ -------- ---- ---- ---- ----- Toys "R" Us, Inc. Lynwood, WA Retail May-06 May-11 $ 279 Toys "R" Us, Inc. Clackamas, OR Retail May-06 May-11 $ 298 Toys "R" Us, Inc. Tulsa, OK Retail May-06 May-11 $ 255 AGC Automotive Americas Co./AFG Industries, Inc Hebron, KY Office -- Aug-12 $ 159
8 LEXINGTON CORPORATE PROPERTIES TRUST 2005 Second Quarter Transaction Summary
New Financings ($000's) Tenants/Guarantors Location Amount Rate Maturity Date ------------------ -------- ------ ---- ------------- Bank of America NT & SA (1) Los Angeles, CA $ 80,182 5.330% May-13 Internet Security Systems, Inc. Atlanta, GA 45,238 5.268 May-13 Nissan Motor Acceptance Corp./Nissan Irving, TX 40,921 5.218 May-13 North America, Inc. (2) Experian Information Solutions, Inc./ Dallas, TX 30,582 5.126 May-11 TRW Inc. Capital One Services, Inc. (3) - 3 Richmond, VA 19,800 5.110 May-15 leases Chrysler Financial Company LLC (2) Westlake, TX 19,645 5.097 May-12 Dana Corporation Farmington Hills, 20,550 5.126 May-11 MI Transocean, Inc. & Newpark Resources, Houston, TX 16,977 5.160 May-15 Inc. Ikon Office Solutions, Inc. Houston, TX 17,660 5.218 May-13 Lucent Technologies, Inc. (3) Raleigh, NC 12,900 4.947 May-12 ASM Lithograph Holding NV Tempe, AZ 13,648 5.148 May-13 John Wiley & Sons, Inc. Fishers, IN 13,182 5.160 May-15 AT&T Wireless Services, Inc. & Jordan Oklahoma City, OK 14,749 5.240 May-15 Associates, Inc. (5) Kerr-McGee Corporation Houston, TX 13,254 5.210 May-15 PacifiCare Health Systems, Inc. San Antonio, TX 13,071 5.340 May-15 AT&T Wireless Services, Inc. Harrisburg, PA 9,180 5.110 May-15 The Dial Corporation Phoenix, AZ 14,170 5.268 May-13 AmeriCredit Corporation(6) Jacksonville, FL 5,804 5.110 May-15 Metris Companies, Inc. (6) Tulsa, OK 7,688 5.060 May-15 Kraft Foods North America, Inc. & PerkinElmer Instruments LLC Atlanta, GA 11,325 5.260 May-15 Alstom Power, Inc. Richmond, VA 10,608 5.310 May-15 Travelers Express Company, Inc. Lakewood, CO 8,694 5.097 May-12 Allstate Insurance Company Indianapolis, IN 9,638 5.168 May-13 Gartner, Inc. Fort Meyers, FL 8,912 5.268 May-13 Ingram Micro, Inc. Memphis, TN 17,827 5.247 May-12 Dana Corporation Kalamazoo, MI 17,625 5.411 May-15 EDS Information Services LLC/ Electric Data Systems Corp. (2) Des Moines, IA 22,761 5.147 May-12 Playboy Enterprises, Inc. & Sony Electronics, Inc. Los Angeles, CA 11,500 5.110 May-15 Cadence Design Systems Chelmsford, MA 7,008 5.118 May-13 Principal Life Insurance Company Clive, IA 5,920 5.139 May-14 Minnesota Mining & Manufacturing Company Wallingford, CT 3,453 4.926 May-11 Alstom Power, Inc. (6) Knoxville, TN 7,800 5.310 May-15 Hartford Fire Insurance Company Southington, CT 13,780 5.018 May-13 Morgan, Lewis & Bockius LLP (4) Philadelphia, PA 49,000 5.060 Jul-14 -------- ------- $ 615,052 5.194% ======== =======
(1) Lexington has a 25% interest in this property through Lexington Acquiport Company II, LLC. (2) Lexington has a 30% interest in this property through Triple Net Investment Company LLC. (3) Lexington has a 30% interest in this property through Lexington/Lion Venture LP. (4) Lexington has an 80.5% interest in this property. (5) Lexington has a 40% interest in this property through Lexington Oklahoma City, LP. (6) Lexington has 32.3% interest in this property through Lexington Strategic Asset Corp. 9 LEXINGTON CORPORATE PROPERTIES TRUST 2005 First Quarter Transaction Summary
Acquisitions ($000's) Average Current Annual Average Annual Current Property Capitalized GAAP GAAP Cash Cash Lease Tenants/Guarantors Location Type Costs Rent, net Yield Rent, net Yield Term ------------------ -------- ---- ----- --------- ----- --------- ----- ---- Alstom Power, Inc.(4) Knoxville, TN Office $ 12,012 $ 1,140 9.5% $ 975 8.1% Oct-14 Dispositions ($000's) Property Tenants/Guarantors Location Type Net Sale Price Net Book Value ------------------ -------- ---- -------------- Wal-Mart, Inc. Gainesville, GA Retail $ 3,089 $ 2,564 Circuit City Stores, Inc. Lynchburg, VA Retail 986 761 --------- --------- $ 4,075 $ 3,325 ========= ========= Lease Extensions ($000's) Extension Property Previous Extended Rent Per Tenants/Guarantors Location Type Term Term Annum ------------------ -------- ---- ---- ---- ----- Ameritech Services, Inc. Columbus, OH Industrial May-05 May-15 $ 138 Hartford Fire Insurance Company Southington, CT Office Dec-05 Dec-12 $ 1,570 Cadbury Adams (1)(3) Parsippany, NJ Office Jan-10 Jun-15 $ 4,009 New Financings ($000's) Tenants/Guarantors Location Amount Rate Maturity Date ------------------ -------- ------ ---- ------------- Spacelabs Medical, Inc. Issaquah, WA $ 32,800 5.00% Dec-14 (OSI Systems, Inc.) (2) 2 properties Verizon Wireless (2) Wilmington, NC 13,000 5.19% Mar-17 -------- ---- $ 45,800 5.05% ======== ====
(1) Lexington has a 33 1/3% interest in this property through Lexington Acquiport Company, LLC. (2) Lexington has a 25% interest in this property through Lexington Acquiport Company II, LLC. (3) Lease encompasses approximately 50% of gross leaseable area; primary lease with Aventis is still in effect until 2010. (4) Lexington has a 32.3% interest in this property through Lexington Strategic Asset Corp. 10 Lexington Corporate Properties Trust Supplemental Reporting Package Property Holdings 12/31/05
------------------------------ ----------------------------- ------------- ------------- -------------- ------------- YTD YTD Base Cash Base GAAP Year Revenue Revenue Square Constructed/ Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated ------------------------------ ----------------------------- ------------- ------------- -------------- ------------- Office ------ 295 Chipeta Way Northwest Pipeline Corp. $ 8,161 $ 8,161 295,000 1982 Salt Lake City, UT 10001 Richmond Avenue Baker Hughes, Inc. 6,030 7,367 554,385 1976/1984 Houston, TX 6303 Barfield Road & 859 Internet Security Systems, 4,428 4,268 289,000 2003 Mount Vernon Hwy. Inc.(22) Atlanta, GA 1701 Market Street Morgan Lewis & Bockius 3,482 3,496 322,317 1957 Philadelphia, PA LLP(19)(20) 3480 Stateview Blvd. Wells Fargo Bank N.A. (13) 3,163 3,449 169,218 2004 Fort Mill, SC 33 Commercial Street Invensys Systems, Inc. 3,243 3,243 164,689 1982 Foxboro, MA (Siebe, Inc.) 3476 Stateview Boulevard Wells Fargo Home 2,824 3,021 169,083 2002 Fort Mill, SC Mortgage (4) (5) 9950 Mayland Drive Circuit City Stores, Inc. 2,859 2,791 288,562 1990 Richmond, VA 1415 Wyckoff Road New Jersey Natural Gas Co. 2,754 2,754 157,511 1983 Wall Township, NJ 2750 Monroe Boulevard Quest Diagnostics, Inc.(2) 2,442 2,554 109,281 1985/2001 Valley Forge, PA 700 Oakmont Lane North American Van Lines, 2,367 2,529 269,715 1989 Westmont, IL Inc. (SIRVA, Inc.)(3) 70 Mechanic Street Invensys Systems, Inc. 2,864 2,496 251,914 1965/1988 Foxboro, MA (Siebe, Inc.) 13651 McLearen Road Boeing North American 2,699 2,472 159,664 1987 Herndon, VA Services, Inc. (The Boeing Company) 1311 Broadfield Blvd. Transocean, Inc.(23) 1,593 1,632 103,260 2000 Houston, TX Newpark Resources, Inc.(24) 840 814 52,731 601 & 701 Experian Pkwy. TRW Inc. (Experian 2,911 2,418 292,700 1981/1983 Dallas, TX Information Solutions, Inc.) 2211 South 47th Street Avnet, Inc. 2,436 2,399 176,402 1997 Phoenix, AZ 1301 California Circle Artesyn North America, Inc. 2,724 2,377 100,026 1985 Milpitas, CA (Balfour Beatty plc)(31) 5600 Broken Sound Blvd Oce Printing Systems USA, 2,012 2,245 143,290 1983/2002 Boca Raton, FL Inc. 4200 RCA Boulevard The Wackenhut Corp.(6) 2,181 2,167 114,518 1996 Palm Beach Gardens, FL 701 Brookfield Parkway Verizon Wireless (7) 1,972 2,067 192,884 2000/2001 Greenville, SC
11 Lexington Corporate Properties Trust Supplemental Reporting Package Property Holdings 12/31/05
-------------------------------- ---------------------------- -------------- -------------- -------------- -------------- YTD YTD Base Cash Base GAAP Year Revenue Revenue Square Constructed/ Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated -------------------------------- ---------------------------- -------------- -------------- -------------- -------------- 19019 No. 59th Avenue Honeywell, Inc. 2,002 1,980 252,300 1985 Glendale, AZ 4201 Marsh Lane Carlson Restaurants 1,809 1,975 130,000 2003 Carrollton, TX Worldwide, Inc. (16) 12645 W. Airport Road Baker Hughes, Inc. 1,708 1,941 165,836 1997 Sugar Land, TX 26210 and 26220 Enterprise Apria Healthcare Group, 1,701 1,792 100,012 2001 Court Inc. Lake Forest, CA 10475 Crosspoint Blvd. John Wiley & Sons, Inc.(29) 1,701 1,701 141,047 1999 Fishers, IN 2210 Enterprise Drive Washington Mutual Home 1,750 1,699 177,747 1998 Florence, SC Loan, Inc. 27404 Drake Road Dana Corporation 1,670 1,663 112,480 1999 Farmington Hills, MI 200 Executive Blvd. S Hartford Fire Insurance Co. 2,165 1,625 153,364 1983 Southington, CT 810-820 Gears Road IKON Office Solutions, 1,587 1,613 157,790 2000 Houston, TX Inc. 1600 Eberhardt Road Nextel of Texas 1,384 1,559 108,800 2001 Temple, TX 2999 SW 6th St. Voice Stream PCS I LLC 1,335 1,552 77,484 2004 Redmond, OR (T-Mobile USA, Inc.) 160 Clairemont Avenue Allied Holdings, Inc. 1,632 1,530 112,248 1983 Decatur, GA 27016 Media Center Drive Playboy Enterprises, Inc. 1,307 1,257 63,049 2000 Los Angeles, CA Sony Electronics, Inc. (17) 257 271 20,203 2800 Waterford Lake Dr. Alstom Power, Inc.((26)) (33) 1,264 1,444 99,057 2000 Richmond, VA 26555 Northwestern Highway Federal-Mogul Corporation 1,158 1,418 187,163 1963/1965 Southfield, MI 10419 North 30th Street Time Customer Service, Inc. 1,450 1,410 132,981 1986 Tampa, FL (Time, Inc.) 250 Rittenhouse Circle Jones Apparel Group 1,265 1,385 255,019 1982 Bristol, PA USA, Inc. (Jones Apparel Group, Inc.)(1) 15501 North Dial Blvd. The Dial Corporation 995 1,367 129,689 1998 Phoenix, AZ 8555 South River Pkwy. ASM Lithography Holding 1,527 1,323 95,133 1998 Tempe, AZ NV 400 Butler Farm Road Nextel Communications of 1,289 1,302 100,632 1999 Hampton, VA the Mid-Atlantic, Inc. (Nextel Finance Company)
12 Lexington Corporate Properties Trust Supplemental Reporting Package Property Holdings 12/31/05
------------------------------- --------------------------- ---------------- ------------- --------------- -------------- YTD YTD Base Cash Base GAAP Year Revenue Revenue Square Constructed/ Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated ------------------------------- --------------------------- ---------------- ------------- --------------- -------------- 16676 Northchase Dr. Kerr-McGee Corporation 1,106 1,166 101,111 2003 Houston, TX 6200 Northwest Pkwy. PacifiCare Health Systems, 1,069 1,162 142,500 2000 San Antonio, TX Inc. 5757 Decatur Blvd. Allstate Insurance Co.(27)(21) 893 1,108 84,200 2002 Indianapolis, IN Holladay Property 54 54 5,756 Services(28) 4000 Johns Creek Pkwy. Kraft Foods N.A., 947 993 73,264 2001 Inc.(25)(34) Atlanta, GA PerkinElmer Instruments 148 166 13,955 LLC(35) 6455 State Hwy 303 NE Nextel West Corporation 969 1,113 60,200 2001 Bremerton, WA 270 Billerica Road Cadence Design Systems(14) 1,015 1,065 100,000 1985 Chelmsford, MA 2550 Interstate Dr. AT&T Wireless Services, 1,008 1,038 81,859 1998 Harrisburg, PA Inc. 180 Rittenhouse Circle Jones Apparel Group 928 970 96,000 1998 Bristol, PA USA, Inc. (Jones Apparel Group, Inc.)(10) 2529 West Thorns Drive Baker Hughes, Inc. 686 846 65,500 1981/1999 Houston, TX 12000 Tech Center Drive Kelsey-Hayes Company 762 823 80,230 1988 Livonia, MI 2401 Cherahala Boulevard Advance PCS, Inc. 786 822 59,748 2002 Knoxville, TN 1275 NW 128th Street Principal Life Insurance 791 804 61,180 2003 Clive, IA Company(12) 13430 N. Black Canyon Freeway Bull HN Information 1,048 773 69,492 1985/1994 Phoenix, AZ Systems, Inc. Associated Billing -- -- 17,767 Services, LLC(32) VACANT -- -- 49,799 12600 Gateway Blvd. Gartner, Inc. 700 754 62,400 1997 Fort Meyers, FL 421 Butler Farm Road Nextel Communications of 723 719 56,515 2000 Hampton, VA the Mid-Atlantic, Inc. (Nextel Finance Company) 3940 South Teller St. Travelers Express 782 623 68,165 2002 Lakewood, CO Company, Inc. (18) 100 Barnes Road Minnesota Mining and 559 606 44,400 1978/1985 Wallingford, CT Manufacturing Company 1440 East 15th Street Cox Communications, Inc. 437 457 28,591 1988 Tucson, AZ 250 Turnpike Road Honeywell Consumer 439 439 57,698 1984 Southborough, MA Products
13 Lexington Corporate Properties Trust Supplemental Reporting Package Property Holdings 12/31/05
------------------------------- ------------------------ ---------------- ------------- ---------------- ------------- YTD YTD Base Cash Base GAAP Year Revenue Revenue Square Constructed/ Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated ------------------------------- ------------------------ ---------------- ------------- ---------------- ------------- 11555 University Blvd. Kelsey-Seybold Clinic 146 160 72,683 2004 Sugarland, TX 2300 Litton Lane AGC Automotive Americas 68 108 21,500 1987 Hebron, KY Company VACANT -- -- 60,244 1600 Viceroy Drive VACANT -- -- 249,452 1986 Dallas, TX 3615 North 27th Avenue VACANT -- -- 179,280 1960/1979 Phoenix, AZ ------------------------ ---------------- ------------- ---------------- Subtotal $ 111,005 $ 113,296 9,211,673 ------------------------ ---------------- ------------- ---------------- Industrial ---------- 541 Perkins Jones Road Kmart Corp. $ 9,359 $ 8,932 1,700,000 1982 Warren, OH 19500 Bulverde Road Harcourt Brace 3,028 3,429 559,258 2001 San Antonio, TX 2425 Highway 77 North James Hardie Building 3,400 3,400 425,816 1996/1997 Waxahachie, TX Products, Inc. (James Hardie Industries NV) 3501 West Avenue H Michaels Stores, Inc. 3,238 3,304 762,775 1998/2002 Lancaster, CA 9110 Grogans Mill Road Baker Hughes, Inc. 2,481 3,065 275,750 1992 Houston, TX 159 Farley Drive Harbor Freight Tools 2,373 2,651 1,010,859 2001 Dillon, SC (Central Purchasing, Inc.) 8305 SE 58th Avenue Associated Grocers of 2,067 2,238 668,034 1976 Ocala, FL Florida, Inc. 590 Ecology Lane Owens Corning 1,876 1,876 420,597 2001 Chester, SC 6345 Brackbill Boulevard Exel Logistics, Inc. 2,037 1,852 507,000 1985/1991 Mechanicsburg, PA (NFC plc) 3820 Micro Drive Ingram Micro Inc. 1,459 1,628 701,819 1997 Memphis, TN 431 Smith Lane Kirkland's, Inc. (11) 1,420 1,420 771,127 2004 Jackson, TN 750 N. Black Branch Road Dana Corporation 1,419 1,419 539,592 1995/2001 Elizabethtown, KY 6938 Elm Valley Dr. Dana Corporation 1,321 1,400 150,945 1999 Kalamazoo, MI 4425 Purks Road Lear Technologies LLC 1,405 1,365 183,717 1989/1998 Auburn Hills, MI (Lear Corporation) (General Motors Corp.) 6 Doughten Road Exel Logistics, Inc. 1,487 1,349 330,000 1989 New Kingston, PA (NFC plc)
14 Lexington Corporate Properties Trust Supplemental Reporting Package Property Holdings 12/31/05
------------------------------- ----------------------- ------------------ ------------ ---------------- ------------- YTD YTD Base Cash Base GAAP Year Revenue Revenue Square Constructed/ Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated ------------------------------- ----------------------- ------------------ ------------ ---------------- ------------- 6500 Adelaide Court Anda Pharmaceuticals,Inc. 1,224 1,206 354,676 2002 Groveport, OH (Andrx Corporation) 7500 Chavenelle Road The McGraw-Hill 1,060 1,164 330,988 2002 Dubuque, IA Companies, Inc. 12025 Tech Center Drive Kelsey-Hayes Company 1,049 1,139 100,000 1987/1988 Livonia, MI 250 Swathmore Avenue Steelcase, Inc. (15) 1,027 1,087 244,851 2002 High Point, NC Moody Commuter & Tech Park TNT Logistics North 1,054 1,054 595,346 2004 Moody, AL America, Inc. (TPG N.V.) 3102 Queen Palm Drive Time Customer 1,010 1,010 229,605 1986 Service, Tampa, FL Inc. (Time, Inc.) 2280 Northeast Drive Ryder Integrated 998 1,004 276,480 1996/1997 Waterloo, IA Logistics, Inc. (Ryder Systems, Inc.) 245 Salem Church Road Exel Logistics, Inc. 1,103 994 252,000 1985 Mechanicsburg, PA (NFC plc) 200 Arrowhead Drive Owens Corning 1,027 985 400,522 1999 Hebron, OH 3600 Southgate Drive Sygma Network, Inc. 933 933 149,500 2000 Danville, IL 46600 Port Street Johnson Controls, Inc. 924 924 134,160 1996 Plymouth, MI 1133 Poplar Creek Road Corporate Express Office 787 810 196,946 1998 Henderson, NC Products, Inc. (Buhrmann, N.V.) 301 Bill Byran Road Dana Corporation 726 726 410,844 1987/1997/ Hopkinsville, KY 2000 450 Stern Street Johnson Controls, Inc. 699 699 111,160 1996 Oberlin, OH 10000 Business Boulevard Dana Corporation 673 673 336,350 1988 Dry Ridge, KY 7670 Hacks Cross Road Dana Corporation 615 657 168,104 1989 Olive Branch, MS 34 East Main Street Exel Logistics, Inc. 721 654 179,200 1981 New Kingston, PA 191 Arrowhead Drive Owens Corning 644 626 250,410 2000 Hebron, OH 904 Industrial Road Tenneco Automotive 583 600 195,640 1968/1972 Marshall, MI Operating Company, Inc. (Tenneco Automotive, Inc.) 109 Stevens Street Unisource Worldwide, Inc. 575 588 168,800 1958/1969 Jacksonville, FL
15 Lexington Corporate Properties Trust Supplemental Reporting Package Property Holdings 12/31/05
---------------------------- --------------------------- ----------------- -------------- --------------- ------------ YTD YTD Base Cash Base GAAP Year Revenue Revenue Square Constructed/ Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated ---------------------------- --------------------------- ----------------- -------------- --------------- ------------ 128 Crews Drive Stone Container 542 571 185,961 1968/1998 Columbia, SC Corporation 1700 47th Avenue North Owens Corning 549 549 18,620 2003 Minneapolis, MN 7150 Exchequer Drive Corporate Express Office 426 427 79,086 1998 Baton Rouge, LA Products, Inc. (Buhrmann, N.V.) 4010 Airpark Drive Dana Corporation 398 398 162,468 1998/2000 Owensboro, KY 324 Industrial Park Road SKF USA, Inc. 363 363 72,868 1996 Franklin, NC 187 Spicer Drive Dana Corporation 349 341 148,000 1983/1985 Gordonsville, TN 730 N. Black Branch Road Dana Corporation 268 268 167,770 2001 Elizabethtown, KY 3350 Miac Cove Road Mimeo.com, Inc. (8) 212 222 107,000 1987 Memphis, TN VACANT -- -- 34,359 300 McCormick Road Ameritech Services, Inc. 180 180 20,000 1990 Columbus, OH (9) 1601 Pratt Avenue Tenneco Automotive(30) 111 109 53,600 1979 Marshall, MI Operating Company, Inc. (Tenneco Automotive, Inc.) Joseph Campbell Company 52 52 -- 477 Distribution Pkwy. Federal Express -- -- 120,000 2005 Colliersville, TN Corporation(36) --------------------------- ----------------- -------------- --------------- Subtotal $ 59,252 $ 60,341 15,262,603 --------------------------- ----------------- -------------- --------------- Retail ------ 2655 Shasta Way Fred Meyer, Inc. $ 1,009 $ 1,009 178,204 1986 Klamath Falls, OR Fort Street Mall, King Liberty House, Inc. 970 971 85,610 1980 Street Honolulu, HI 150 N.E. 20th Street Fred Meyer, Inc. 933 933 118,179 1986 Newport, OR 35400 Cowan Road Sam's Real Estate 753 753 102,826 1987/1997 Westland, MI Business Trust 4733 Hills & Dales Road Scandinavian Health Spa, 729 685 37,214 1987 Canton, OH Inc. (Bally Total Fitness Corp.) 1160 White Horse Road Physical Fitness Centers 820 613 31,750 1987 Voorhees, NJ of Philadelphia, Inc. (Bally Total Fitness Corp.) 5917 S. La Grange Road Bally Total Fitness Corp. 660 515 25,250 1987 Countryside, IL
16 Lexington Corporate Properties Trust Supplemental Reporting Package Property Holdings 12/31/05
---------------------------- --------------------------- ----------------- --------------- ------------- ------------- YTD YTD Base Cash Base GAAP Year Revenue Revenue Square Constructed/ Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated ---------------------------- --------------------------- ----------------- --------------- ------------- ------------- 4831 Whipple Avenue, N.W. Best Buy Co., Inc. 465 465 46,350 1995 Canton, OH 3711 Gateway Drive Kohl's Dept. Stores, Inc. 469 463 76,164 1994 Eau Claire, WI 399 Peach Wood Centre Dr. Best Buy Co., Inc. 395 395 45,800 1996 Spartanburg, SC 12535 S.E. 82nd Avenue Toys "R" Us, Inc. 431 364 42,842 1981 Clackamas, OR 24100 Laguna Hills Mall Federated Department 677 349 160,000 1974 Laguna Hills, CA Stores, Inc. 18601 Alder Wood Mall Toys "R" Us, Inc. 398 345 43,105 1981 Boulevard Lynwood, WA 6910 S. Memorial Highway Toys "R" Us, Inc. 364 315 43,123 1981 Tulsa, OK 9580 Livingston Road GFS Realty, Inc. 205 277 107,337 1976 Oxon Hill, MD (Giant Food, Inc.) 121 South Center Street Greyhound Lines, Inc. 210 210 17,000 1968 Stockton, CA 2401 Wooton Parkway GFS Realty, Inc. 133 152 51,682 1977 Rockville, MD (Giant Food, Inc.) --------------------------- ----------------- -------------- --------------- Subtotal $ 9,621 $ 8,814 1,212,436 --------------------------- ----------------- -------------- --------------- --------------------------- ----------------- -------------- --------------- Grand Total $ 179,878 $ 182,451 25,686,712 --------------------------- ----------------- -------------- ---------------
17 Lexington Corporate Properties Trust Supplemental Reporting Package Property Holdings 12/31/05 (1) Tenant can cancel lease on 03/26/08 with 12 months notice and payment of $1,392. (2) Expense stop on this property is $393 per annum. (3) Tenant can cancel lease on 11/30/13 with 12 months notice and a payment of $1,300. (4) Expense stop on this property is $820. (5) Tenant has the right to contract leased space by 27,000 square feet on 01/31/08 with six months notice and a payment estimated to be $696. In addition, the tenant can cancel lease on 01/31/10 with twelve months notice and a payment estimated to be $3,968. (6) This is a modified gross lease. Annual net operating expense for which the Company is responsible approximates $600. There is a second tenant at this property encompassing approximately 18,000 square feet. (7) Expense stop on this property is $112 per annum. (8) Tenant occupies 107,000 square feet and is responsible for all operating expenses. (9) Tenant can cancel lease on 6/1/10 with 6 months notice and a payment of $102. (10) Tenant can cancel lease on 7/31/08 with 12 months notice and a payment of $2,095. (11) Tenant can cancel lease on 5/30/14 for a payment equal to the remaining 5 years rent discounted at 150 bps over the then 5 year U.S. Treasury rate. (12) Tenant can cancel lease on 2/1/09 with twelve months notice and a payment equal to approximately one year rent and operating costs. (13) Expense stop on this property is $948. (14) Tenant can cancel lease on 9/30/10 with twelve months notice and a payment of $965. (15) Tenant can cancel the lease during the last year if damage occurs and is greater than $500 or 50% of cost to replace building. (16) Tenant can cancel lease after 12/22/13 with twelve months notice plus payment equal to one year rent plus unamortized deal costs. (17) Tenant can cancel lease after 9/1/07 with 180 days notice and payment of 2 months rent plus unamortized tenant improvements and commissions. (18) Tenant can cancel lease on 3/31/09 with 12 months notice and a payment of approximately $1,041. (19) The Company has an 80.5% economic interest in this property. (20) Included in square footage is 10,426 of retail space leased to three tenants and 2,842 of vacant space. (21) Tenant can cancel lease on 8/31/07 with 12 months written notice and a payment of $385 plus unamortized costs of landlord's improvements in excess of $30 per square foot. (22) Expense stop on this property is $804 per annum. (23) Expense stop on this property for tenant is $7.89 per square foot. (24) Expense stop on this property for tenant is $6.50 per square foot. (25) Expense stop on this property for tenant is $4.35 per square foot. (26) Expense stop on this property is $593 per annum. (27) Expense stop on this property for tenant is $2.75 per square foot. (28) Expense stop on this property for tenant is $2.50 per square foot. (29) Expense stop on this property is $501 per annum. (30) The original tenant lease expired during the third quarter of 2005 and the subtenant extended lease for two years. (31) Lease expired 12/09/05 and property is currently vacant. (32) Tenant can cancel lease on 7/31/11 with 9 months written notice and a payment equal to the unamortized tenant improvements. Tenant lease commences in 2006. (33) Tenant can cancel lease on 7/31/12 with 12 months written notice and a payment equal to the sum of $340 plus 50% of rent, as defined, for the year ended 7/31/13 plus 6 months of operating expenses for 2012. (34) Tenant can cancel lease on 1/31/09 with 12 months written notice and payment of $1,845. (35) Tenant can cancel lease on 11/30/11 with 12 months written notice and payment of $325. (36) Property being expanded. 18 Lexington Corporate Properties Trust Supplemental Reporting Package Joint Venture Property Holdings 12/31/05
---------------------------- --------------------------- ----------------- -------------- --------------- ------------ YTD YTD Base Cash Base GAAP Year Revenue Revenue Square Constructed/ Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated ---------------------------- --------------------------- ----------------- -------------- --------------- ------------ Office ------ 389-399 Interpace Highway Aventis Pharmaceuticals, $ 9,023 $ 8,593 340,240 2000 Morris Corporate Center IV Inc (Pharma Holdings Parsippany, NJ GmbH)(A)(Y) 17 Technology Circle Blue Cross Blue Shield 7,377 6,930 456,304 1999/2001 Columbia, SC of South Carolina Inc.(B) 275 South Valencia Ave. Bank of America NT & SA (H) 5,428 6,520 637,503 1983 Los Angeles, CA 100 Wood Hollow Drive Greenpoint Mortgage 4,464 4,864 124,600 2001 Novato, CA Funding, Inc. (E)(F) 6555 Sierra Drive True North Communications 4,424 4,250 247,254 1999 Irving, TX Inc.(A) 101 East Erie Building Foote, Cone & Belding 3,874 3,884 203,376 1986 Chicago, IL (Interpublic Group of Companies, Inc.) (E) Higgins Development 117 120 19,089 1986 Partners(E) Lexington Corporate 11 18 2,100 1986 Properties Trust(E) 5200 Metcalf Avenue Employers Reinsurance 3,954 3,954 320,198 1980/1990/ Overland Park, KS Corporation(H) 2003 27027 Tourney Road Specialty Laboratories, 3,563 3,563 187,262 2004 Inc.(E) Santa Clarita, CA 8900 Freeport Pkwy. Nissan Motor Acceptance 3,173 3,447 268,445 2002 Irving, TX Corporation/ (Nissan North America, Inc.)(L) 15375 Memorial Drive Vastar Resources, Inc.(A) 3,437 3,437 327,325 1985 Houston, TX 10300 Kincaid Drive Bank One Indiana, 3,381 3,287 193,000 1999 N.A.(A)(D) Fishers, IN 10300 Town Park Drive Veritas DGC, Inc. (E) 2,859 3,249 218,641 2000 Houston, TX 600 International Parkway First USA Management 2,936 2,921 125,155 1997 Lake Mary, FL Services, Inc.(A)(C) 550 International Parkway First USA Management 2,835 2,820 125,920 1999 Lake Mary, FL Services, Inc.(A)(C) 10940 White Rock Road Progressive Casualty 2,685 2,804 158,582 2002 Insurance 10929 Disk Drive Company(E) Rancho Cordova, CA 2000 Eastman Drive Structural Dynamic 2,771 2,790 212,836 1991 Milford, OH Research Corp.(A) 3701 Corporate Drive Motorola, Inc.(A) (J) 2,714 2,714 119,829 2001 Farmington Hills, MI 2050 Roanoke Road Chrysler Financial 2,286 2,537 130,290 2001 Westlake, TX Company LLC (L) (T)
19 Lexington Corporate Properties Trust Supplemental Reporting Package Joint Venture Property Holdings 12/31/05
---------------------------- --------------------------- ----------------- -------------- --------------- -------------- YTD YTD Base Cash Base GAAP Square Year Revenue Revenue Constructed/ Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated ---------------------------- --------------------------- ----------------- -------------- --------------- -------------- 1401 & 1501 Nolan Ryan Siemens Dematic Postal 2,385 2,533 233,783 2003 Parkway Automation, L.P. (H) Arlington, TX 9201 East Dry Creek Road The Shaw Group, Inc. (K) (L) 2,042 2,506 128,500 2001/2002 Centennial, CO 110, 120 & 130 E. Shore Dr. Capital One Services, 2,005 2,071 68,500 2000 Richmond, VA Inc. (E) 77,045 1998 79,675 2000 1475 Dunwoody Drive ING USA Annuity and Life 1,997 2,038 125,000 1998/1999 West Chester, PA Insurance Company (E) 13775 McLearen Road Equant N.V. (E) (G) 1,803 2,011 125,293 1984/1988/ Herndon, VA 1992 70 Valley Stream Parkway IKON Office Solutions, 1,923 1,995 106,855 1987 Malvern, PA Inc(E)(I) 5150 220th Avenue Spacelabs Medical, Inc 1,866 1,949 106,944 1992 Issaquah, WA (OSI Systems, Inc.)(H) 9201 Stateline Employers Reinsurance 1,874 1,874 166,641 1963/1985/ Kansas City, MO Corporation(H) 2003 22011 SE 51st Street Spacelabs Medical, Inc 1,710 1,667 95,600 1987 Issaquah, WA (OSI Systems, Inc.)(H) 1110 Bayfield Drive Honeywell International, 1,543 1,637 166,575 1980/2002 Colorado Springs, CO Inc.(A) (O) 3601 Converse Drive Verizon Wireless(H) 1,533 1,624 160,500 2004 Wilmington, NC 275 Technology Drive ANSYS, Inc.(L) 1,241 1,354 107,872 1996 Canonsburg, PA Renner Blvd. Voicestream PCS II 1,176 1,352 77,484 2004 Lenexa, KS Corporation (T-Mobile USA, Inc.) (H) East Goldstone Drive T-Mobile USA, Inc. (H) 1,156 1,320 77,483 2004 Meridian, ID 1409 Centerpoint Blvd. Alstom Power, 1,129 1,292 84,404 2001 Knoxville, TN Inc.(S)(V)(W) 3201 Quail Springs Pkwy. AT& T Wireless Services, 937 974 103,500 1999 Oklahoma City, OK Inc.(N) Jordan Associates, Inc. (N) 236 237 25,000 200 Lucent Lane Lucent Technologies, Inc. 1,424 1,182 120,000 1999 Raleigh, NC (E) 4455 American Way Bell South Mobility, 1,015 1,090 70,100 1997 Baton Rouge, LA Inc. (L) 3711 San Gabriel Voice Stream PCS II LLC 900 984 75,016 2004 Mission, TX (T-Mobile USA, Inc.) (L)
20 Lexington Corporate Properties Trust Supplemental Reporting Package Joint Venture Property Holdings 12/31/05
------------------------- --------------------------- ----------------- -------------- --------------- -------------- YTD YTD Base Cash Base GAAP Square Year Revenue Revenue Constructed/ Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated ------------------------- --------------------------- ----------------- -------------- --------------- -------------- 4848 129th East Ave. Metris Companies, Inc.(S) 936 936 101,100 2000 Tulsa, OK 2310 Village Square AmeriCredit 1,026 886 85,000 2001 Pkwy. Corporation(S)(X) Jacksonville, FL 4001 International Pkwy. Accor S.A.(H) (U) 498 539 138,443 2003 Carrollton, TX 350 Rhode Island Street California Culinary 627 500 105,568 2002 San Francisco, CA Academy, LLC (Career Education Corp.)(E) Starbucks Coffee 20 22 1,864 Company(E) (P) VACANT (E) -- -- 19,642 2500 Patrick Henry Pkwy. Georgia Power Company(H) 444 474 111,911 1999 McDonough, GA First Park Drive Omnipoint Holdings, 368 425 78,610 2005 Oakland, ME Inc.(H) (T-Mobile USA, Inc.) 11707 Miracle Drive Structure, LLC 100 100 86,800 1995 Omaha, NE (Infocrossing, Inc.)(S) 2005 East Technology Structure, LLC 9 9 60,000 1998 Circle (Infocrossing, Tempe, AZ Inc.)(S) --------------------------- ----------------- -------------- --------------- Subtotal Office $ 105,235 $ 108,283 7,588,657 --------------------------- ----------------- -------------- --------------- Industrial ---------- 101 Michelin Drive TNT Logistics North $ 3,103 $ 3,227 1,164,000 1991/1993 Laurens, SC America, Inc. (TPG N.V.) (A) Philipp Parkway L'Oreal USA, Inc. (H) 2,290 2,518 649,250 2004 Streetsboro, OH 7111 Crabb Road TNT Logistics North 2,078 2,161 752,000 1978/1993 Temperance, MI America, Inc. (TPG N.V.) (A) 6050 Dana Way Dana Corporation (L) (Q) 2,444 2,142 677,400 1999 Antioch, TN 3600 Army Post Rd. EDS Information Services 1,867 2,047 405,000 2002 Des Moines, IA LLC (Electronic Data Systems Corporation) (L) 2400 West Haven Avenue Michaels Stores 1,938 1,938 693,000 2004 New Lenox, IL Procurement Company, Inc. (Michaels Stores, Inc.) (E) 43955 Plymouth Oaks Tower Automotive 1,886 1,886 290,133 1996/1998 Products Company Boulevard (Tower Automotive, Plymouth, MI Inc.) (E) 121 Technology Drive Heidelberg Web Systems, 1,833 1,850 500,500 1986/2003 Durham, NH Inc.(M)
21 Lexington Corporate Properties Trust Supplemental Reporting Package Joint Venture Property Holdings 12/31/05
------------------------- --------------------------- ----------------- -------------- --------------- -------------- YTD YTD Base Cash Base GAAP Year Revenue Revenue Square Constructed/ Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated ------------------------- --------------------------- ----------------- -------------- --------------- -------------- 3225 Meridian Parkway Hagemeyer Foods, Inc. (E) 1,482 1,609 201,845 1995 Weston, FL 291 Park Center Drive Kraft Foods North 1,420 1,504 344,700 2001 Winchester, VA America, Inc. (A) 1109 Commerce Linens-n-Things, Inc. (E) 1,258 1,251 262,644 1998 Boulevard Logan Township, NJ 3245 Meridian Parkway Circuit City Stores, Inc. (E) 1,047 1,169 230,600 1995 Weston, FL 359 Gateway Drive TI Group Automotive 479 479 133,221 2005 Livonia, GA Systems, LLC(S) --------------------------- ----------------- -------------- --------------- Subtotal Industrial $ 23,125 $ 23,781 6,304,293 --------------------------- ----------------- -------------- --------------- Retail ------ 12080 Carmel Mountain Kmart Corporation (L) (R) $ 453 $ 980 107,210 1993 Road San Diego, CA 5350 Leavitt Road Kmart Corporation (L) (R) 1,006 729 193,193 1993 Lorain, OH 255 Northgate Drive Kmart Corporation (L) (R) 711 515 107,489 1993 Manteca, CA 21082 Pioneer Plaza Kmart Corporation (L) (R) 668 484 120,727 1993 Drive Watertown, NY US 219 Kmart Corporation (L) (R) 469 309 90,933 1993 Fairlea, WV 1150 West Carl Sandburg Kmart Corporation (L) (R) 399 289 94,970 1992 Drive Galesburg, IL --------------------------- ----------------- -------------- --------------- Subtotal Retail $ 3,706 $ 3,306 714,522 --------------------------- ----------------- -------------- --------------- --------------------------- ----------------- -------------- --------------- Grand Total $ 132,066 $ 135,370 14,607,472 --------------------------- ----------------- -------------- ---------------
(A) The Company has a 33 1/3% economic interest in this property through Lexington Acquiport Company, LLC. (B) The Company has a 40% economic interest in this property through Lexington Columbia LLC. (C) Cumulative expense stop on these properties is $1,264 per annum. (D) Expense stop on this property is $768 per annum. (E) The Company has a 30% economic interest in this property through Lexington/Lion Venture LP. (F) Expense stop on this property is $945 per annum. (G) Tenant can cancel lease no earlier than 4/30/13 with 12 months notice and a payment equal to the net present value of remaining rent discounted at 12%. (H) The Company has a 25% economic interest in this property through Acquiport Company II, LLC. (I) Tenant can cancel lease anytime after 9/30/10 with a payment equal to the present value of all remaining lease payments, including operating expenses, discounted at 6%. (J) Tenant can cancel lease on 12/28/11 with 18 months notice and a payment equal to two years rent and two years of unamortized tenant allowance. (K) Tenant can cancel lease with 12 months notice, on 5/1/13 and 3/1/15 for a payment of $2,850 and $1,500, respectively. (L) The Company has a 30% economic interest in this property through Triple Net Investment Company LLC. (M) The Company has a 33 1/3% economic interest in this property through Lexington Durham Limited Partnership. (N) The Company has a 40% economic interest in this property through Lexington Oklahoma City, LP. (O) Tenant can cancel lease on 11/30/10 with 12 months notice. (P) Tenant can cancel lease on 9/30/08 with 120 days notice for a payment of $40. 22 (Q) Tenant can terminate lease, for obsolescence by providing 120 days notice, anytime between 11/1/08 and 10/31/18 and pay a predetermined price or fair market value, whichever is greater. (R) Tenant has the right to cancel the lease providing 12 months notice and a minimum payment stipulated in the lease. (S) The Company has a 32.3% economic interest through Lexington Strategic Asset Corp. (T) Expense stop on this property is $798 per annum. (U) Expense stop on this property is $720 per annum. (V) Expense stop on this property is $481 per annum. (W) Tenant can cancel lease on 6/30/12 with 12 months notice and a payment of 6 months base rent plus approximately $1,100 of unamortized tenant improvements and leasing commissions. (X) Tenant can cancel lease on 5/31/08 with 12 months notice and a payment of $1,922. (Y) After the primary tenant lease expires in 2010 approximately 50% of the rentable square feet is subject to a lease with Cadbury Schwepps Holdings through 6/30/15. 23 The Lexington Corporate Properties Trust Supplemental Reporting Package Properties by Location 12/31/05
Historical Year Ended December 31, 2005 ----------------------- No. of Number of Percent Square Base Rent Percent of Locations Location Properties(3) Leased(4) Feet(2) ($000's)(1) Base Rent -------------- ----------------- ------------ ------------- ----------- ------------------------------ 1 Texas 23 95% 5,096,769 $ 38,983 17.00% 2 South Carolina 10 100 3,992,453 19,577 8.54 3 California 14 96 2,672,785 16,045 7.00 4 Pennsylvania 12 100 2,472,403 15,908 6.94 5 Ohio 12 100 3,975,611 15,834 6.90 6 Florida 11 100 2,288,148 13,895 6.06 7 Michigan 13 100 2,462,723 12,437 5.42 8 Virginia 10 100 1,399,643 10,907 4.75 9 Arizona 9 78 1,058,453 9,010 3.93 10 Utah 1 100 295,000 8,161 3.56 11 Georgia 6 100 733,599 7,445 3.25 12 Massachusetts 4 100 574,301 7,243 3.16 13 New Jersey 4 100 792,145 6,606 2.87 14 Tennessee 8 99 2,703,857 6,160 2.69 15 Illinois 6 100 1,457,000 5,852 2.55 16 Oregon 5 100 416,709 4,736 2.07 17 Indiana 3 100 424,003 3,959 1.73 18 Kentucky 6 96 1,698,768 3,592 1.57 19 Iowa 4 100 1,073,648 3,586 1.56 20 North Carolina 5 100 795,165 3,021 1.32 21 Washington 4 100 305,849 2,362 1.03 22 Connecticut 2 100 197,764 2,230 0.96 23 Colorado 3 100 363,240 1,921 0.84 24 Oklahoma 3 100 272,723 1,669 0.73 25 Kansas 2 100 397,682 1,327 0.58 26 Alabama 1 100 595,346 1,053 0.46 27 Hawaii 1 100 85,610 971 0.42 28 Louisiana 2 100 149,186 754 0.33 29 Mississippi 1 100 168,104 657 0.29 30 Maryland 3 100 159,019 656 0.28 31 New Hampshire 1 100 500,500 617 0.27 32 Minnesota 1 100 18,620 549 0.24 33 Missouri 1 100 166,641 469 0.20 34 Wisconsin 1 100 76,164 463 0.20 35 Idaho 1 100 77,483 330 0.14 36 New York 1 100 120,727 145 0.06 37 Maine 1 100 78,610 106 0.05 38 West Virginia 1 100 90,933 93 0.04 39 Nebraska 1 100 86,800 32 0.01 ----------------- ------------ ------------- ----------- -------------- --------------- Total 197 98.3% 40,294,184 $ 229,361 100.00% ----------------- ------------ ------------- ----------- -------------- ---------------
(1) Includes proportionate share of joint venture investments and rental revenue recognized from properties sold through date of sale. (2) Includes properties owned as of December 31, 2005. (3) Includes properties owned during the year ended December 31, 2005. (4) As of December 31, 2005. 24 Lexington Corporate Properties Trust Supplemental Reporting Package Lease Rollover Schedule by Property Type - Cash Basis 12/31/05
Office Industrial Retail ------------- ---------- ------------- ---------- ----------- ------------- ----------- ------------ -------------- ---------- Square Cash Rental Net Rent Square Cash Rental Net Rent Square Cash Rental Net Rent Year Footage Revenue(1) PSF Footage Revenue(1) PSF Footage Revenue(1) PSF ------------- ---------- ------------- ---------- ----------- ------------- ----------- ------------ -------------- ---------- 2006 276,456 $ 2,461 $ 8.90 938,237 $ 5,097 $ 5.43 -- $ -- $ -- 2007 189,293 2,032 14.53 2,153,600 10,802 5.02 -- -- -- 2008 573,959 7,628 13.64 -- -- -- 215,418 1,788 8.30 2009 1,837,317 17,924 16.21 831,966 2,015 3.40 205,436 1,943 9.46 2010 2,125,183 17,622 13.91 675,655 2,436 3.61 -- -- -- 2011 981,385 10,497 20.79 1,046,519 536 4.67 247,249 1,659 6.71 2012 1,860,247 18,282 12.69 4,305,199 9,924 4.28 -- -- -- 2013 1,659,473 21,097 15.80 79,086 483 6.11 -- -- -- 2014 1,861,427 18,140 15.70 965,160 3,522 3.65 267,337 496 1.85 2015 2,267,937 20,952 14.17 463,870 4,232 9.12 76,164 469 6.15 2016 509,642 5,545 17.90 559,258 3,663 6.55 -- -- -- 2017 128,500 694 17.99 806,439 2,754 4.32 108,682 1,126 10.36 2018 450,198 3,121 13.33 668,034 2,519 3.77 806,672 1,175 2.37 2019 502,931 3,971 19.67 2,183,152 5,519 3.50 -- -- -- 2020 294,583 4,238 18.36 666,437 4,184 7.50 -- -- -- 2021 269,991 6,798 25.18 1,959,204 6,608 4.33 -- -- -- 2022 -- -- -- -- -- -- -- -- -- 2023 -- -- -- -- -- -- -- -- -- 2024 187,262 1,069 19.02 693,000 568 2.73 -- -- -- 2025 146,800 734 15.63 2,037,621 9,154 3.20 -- -- -- 2026 -- -- -- 500,500 427 2.56 -- -- -- Weighted Average $ 15.62 $ 4.41 $ 4.87 ======= ======= =======
(1) Includes proportionate share of joint venture investments. 25 Lexington Corporate Properties Trust Supplemental Reporting Package Lease Rollover Schedule - GAAP Basis 12/31/05 ($000's) Percentage of Total Total Number of Annualized Base Annualized Year Leases Expiring Rent (1) Base Rent ------------- --------------------------- -------------------- ----------------- 2006 8 9,221 3.8 2007 6 12,226 5.0 2008 8 8,913 3.6 2009 17 22,439 9.2 2010 18 19,173 7.8 2011 15 15,967 6.5 2012 22 25,636 10.5 2013 14 22,124 9.1 2014 19 22,950 9.4 2015 18 26,538 10.8 2016 8 7,675 3.1 2017 7 4,483 1.8 2018 11 6,868 2.8 2019 8 8,868 3.6 2020 6 8,003 3.3 2021 6 11,417 4.7 2022 -- -- -- 2023 -- -- -- 2024 2 1,637 0.7 2025 8 9,895 4.0 2026 1 617 0.3 --------------------------- -------------------- ----------------- Total 202 $ 244,650 100.0% =========================== ==================== ================= (1) Includes proportionate share of joint vene investments. 26 Lexington Corporate Properties Trust Supplemental Reporting Package Mortgages and Notes Payable 12/31/05 ($000's)
--------------------------------- ------------------ -------------- ------------- ---------------- -------------------- Current Estimated Debt Interest Annual Balloon Property - Fixed Rate Balance Rate Maturity Debt Service(h) Payment --------------------------------- ------------------ -------------- ------------- ---------------- -------------------- Warren, OH(d) $ 11,313 7.000% Oct-07 $ 6,160 $ -- Bristol, PA 9,514 7.400 Feb-08 831 9,262 Boca Raton, FL(f) 15,275 5.250 Mar-08 802 15,275 Decatur, GA 6,420 6.720 Jun-08 579 6,049 Phoenix, AZ 13,558 7.890 Jun-08 1,434 12,591 Palm Beach Gardens, FL 10,966 7.010 Jun-08 970 10,418 Canton, OH 3,171 7.150 Aug-08 313 2,936 Spartanburg, SC 2,634 7.150 Aug-08 260 2,438 Ocala, FL(j) 12,196 7.250 Feb-09 1,332 10,700 Florence, SC 9,065 7.500 Feb-09 869 8,443 Canton, OH 1,057 9.490 Feb-09 388 -- Baton Rouge, LA 1,751 7.375 Mar-09 208 1,478 Livonia, MI 10,770 7.800 Apr-09 992 10,236 Bristol, PA 5,769 7.250 Apr-09 571 5,228 Henderson, NC(j) 4,223 7.390 May-09 417 3,854 Westland, MI 2,109 10.500 Sep-09 683 -- Salt Lake City, UT 9,388 7.610 Oct-09 2,901 -- High Point, NC 8,585 5.750 Oct-09 695 7,741 Richmond, VA 16,132 8.100 Feb-10 1,511 15,257 Hampton, VA 7,147 8.270 Apr-10 677 6,758 Hampton, VA 4,383 8.260 Apr-10 415 4,144 Tampa, FL 8,156 6.930 Aug-10 674 7,603 Tampa, FL 5,899 6.880 Aug-10 485 5,495 Herndon, VA 18,458 8.180 Dec-10 1,723 17,301 Columbia, SC 3,294 7.540 Jan-11 317 2,905 Tucson, AZ 2,355 7.500 Jan-11 226 2,076 Valley Forge, PA 12,578 7.120 Feb-11 1,166 10,927 Glendale, AZ 14,458 7.400 Apr-11 1,258 13,365 Dallas, TX 30,582 5.126 May-11 1,589 30,582 Farmington Hills, MI 20,550 5.126 May-11 1,225 19,020 Wallingford, CT 3,453 4.926 May-11 200 3,187 Auburn Hills, MI 6,915 7.010 Jun-11 637 5,918 Plymouth, MI 4,602 7.960 Jul-11 463 3,949 Newport, OR 6,772 5.030 Aug-11 470 5,980 Greenville, SC 13,429 4.415 Jan-12 841 11,806 New Kingston, PA 7,043 7.790 Jan-12 678 6,101 Mechanicsburg, PA 5,199 7.780 Jan-12 500 4,503 New Kingston, PA 3,355 7.780 Jan-12 323 2,906 Lake Forest, CA 10,611 7.260 Feb-12 901 9,708 Memphis, TN 17,827 5.247 May-12 1,081 16,222 Lakewood, CO 8,694 5.097 May-12 516 7,890 Groveport, OH 7,650 6.030 Oct-12 563 6,860 San Antonio, TX 29,629 6.080 Oct-12 2,260 26,025 Foxboro, MA(d) 17,764 6.000 Jan-13 2,817 -- Fort Mill, SC 11,233 6.000 Jan-13 839 9,904 Waterloo, IA 6,251 5.610 Feb-13 672 3,505 Atlanta, GA 45,238 5.268 May-13 2,752 40,356 Houston, TX 17,660 5.218 May-13 1,067 15,737 Scottsdale, AZ (j) 14,170 5.268 May-13 757 13,594 Southington, CT 13,780 5.018 May-13 809 12,228 Tempe, AZ 13,648 5.148 May-13 816 12,144 Indianapolis, IN 9,638 5.168 May-13 578 8,580 Fort Meyers, FL 8,912 5.268 May-13 476 8,550 Chelmsford, MA 7,008 5.118 May-13 417 6,231 Lancaster, CA (first) 10,303 7.020 Sep-13 900 8,637 Lancaster, CA (second) 8,677 5.920 Sep-13 642 7,518 Knoxville, TN 5,165 5.950 Sep-13 381 4,496
27 Lexington Corporate Properties Trust Supplemental Reporting Package Mortgages and Notes Payable 12/31/05 ($000's)
--------------------------------- ------------------ -------------- ------------- ---------------- -------------------- Current Estimated Debt Interest Annual Balloon Property - Fixed Rate Balance Rate Maturity Debt Service(h) Payment --------------------------------- ------------------ -------------- ------------- ---------------- -------------------- Foxboro, MA(d) 22,385 6.000 Jan-14 3,270 -- Moody, AL 7,483 4.978 Jan-14 493 6,350 Mechanicsburg, PA 13,410 5.730 Mar-14 1,045 10,538 Redmond, OR 9,888 5.616 Apr-14 697 8,484 Clive, IA 5,920 5.139 May-14 354 5,151 Fort Mill, SC(g) 20,300 5.373 May-14 1,106 18,311 Philadelphia, PA(i) 49,000 5.060 Jul-14 2,514 43,547 Jackson, TN 10,219 5.930 Jul-14 743 8,820 Eau Claire, WI 1,927 8.000 Jul-14 313 -- Carrollton, TX 14,342 5.530 Jan-15 993 12,022 Southfield, MI 10,764 4.550 Feb-15 1,058 4,454 Franklin, NC 1,729 8.500 Mar-15 271 -- Kalamazoo, MI 17,625 5.411 May-15 1,094 15,087 Houston, TX 16,977 5.160 May-15 1,017 14,408 Houston, TX 13,254 5.210 May-15 800 11,265 Fishers, IN 13,182 5.160 May-15 790 11,188 San Antonio, TX 13,071 5.340 May-15 803 11,149 Los Angeles, CA 11,500 5.110 May-15 684 9,760 Atlanta, GA 11,325 5.260 May-15 604 10,502 Richmond, VA 10,608 5.310 May-15 649 9,055 Harrisburg, PA 9,180 5.110 May-15 546 7,780 Elizabethtown, KY(k) 16,687 4.990 Jul-15 1,647 21,182 Hopkinsville, KY(k) 9,777 4.990 Jul-15 965 12,411 Dry Ridge, KY(k) 7,905 4.990 Jul-15 780 10,034 Owensboro, KY(k) 7,069 4.990 Jul-15 698 8,974 Elizabethtown, KY(k) 3,144 4.990 Jul-15 310 3,990 Southborough, MA 1,885 7.500 Sep-15 275 -- Houston, TX(d) 65,893 6.250 Sep-15 5,595 18,318 Houston, TX(d) 27,150 6.250 Sep-15 2,828 6,985 Sugar Land, TX(d) 17,560 6.250 Sep-15 1,770 6,286 Houston, TX(d) 7,612 6.250 Sep-15 700 2,222 Temple, TX 8,997 6.090 Jan-16 668 7,446 Danville, IL 6,412 9.000 Jan-16 692 4,578 Bremerton, WA 6,650 6.090 Apr-16 494 5,465 Dillon, SC 11,450 7.900 Dec-16 1,263 5,273 Dubuque, IA 10,875 5.402 Jun-17 733 8,725 Westmont, IL 15,559 6.210 Mar-18 1,292 9,662 Houston, TX 10,000 5.640 Dec-20 692 7,042 Wall Township, NJ(d) 29,752 6.250 Jan-21 2,013 -- Chester, SC 13,842 5.380 Aug-25 1,144 362 ---------- ----- -------- -------- $ 1,158,690 6.011% $ 99,430 $ 861,443 ---------- ------ -------- -------- Property-Variable Rate ---------------------- Milpitas, CA (a)(b)(c) $ 11,870 8.090% July-06 $ 11,870 $ 11,870 ---------- ------ -------- -------- Corporate --------- Credit Facility (e) $ -- -- June-08 $ -- $ -- ---------- ------ -------- -------- Total $ 1,170,560 6.032% $ 111,300 $ 873,313 ========== ====== ========= ========
Lexington Corporate Properties Trust Supplemental Reporting Package Mortgages Payable 12/31/05 (000's) (a) Floating rate debt, 30 day LIBOR plus 400 bps; (b) All property cash flows, net of interest expense, are used for principal amortization. (c) The Company informed the lender that it will no longer make debt service payments on this loan. (d) Debt balances based upon imputed interest rates. (e) Floating rate debt 30/60/90 day LIBOR plus 120 to 170 bps. (f) Interest only through maturity. (g) Interest only through 10/1/07. Commencing 11/1/07 annual debt service of $1,364 is due. (h) Remaining payments for debt with less than 12 months to maturity. (i) The Company has an 80.5% interest in the property securing the mortgage. (j) Included in discontinued operations. (k) Debt balances are net of mortgage investment made by Lexington. All other figures are gross amounts owed. 29 Lexington Corporate Properties Trust Supplemental Reporting Package Mortgages Payable 12/31/05 (000's)
------------------------------- -------------- ---------------- ------------- --------------- ---------------- ------------------ Current LXP Estimated Debt Proportionate Interest Annual Balloon Joint Venture Property Balance Share Rate Maturity Debt Service Payment ------------------------------- -------------- ---------------- ------------- --------------- ---------------- ------------------ Santa Clarita, CA(3) $ 28,200 $ 8,460 4.750 Oct-09 $ 1,340 $ 28,200 Columbia, SC(1) 23,848 9,539 7.850 Oct-09 2,196 22,586 Houston, TX(2) 20,344 6,781 7.580 Oct-09 2,032 18,229 Fishers, IN(2) 14,500 4,833 8.190 Apr-10 1,499 12,960 Lorain, OH(5,)(8) 3,435 1,031 6.000 Jul-10 900 -- Manteca, CA(5,)(8) 2,427 728 6.000 Jul-10 636 -- Watertown, NY(5,)(8) 2,282 685 6.000 Jul-10 598 -- Fairlea, WV(5,)(8) 1,603 481 6.000 Jul-10 420 -- San Diego, CA(5,)(8) 1,547 464 6.000 Jul-10 405 -- Galesburg, IL(5,)(8) 1,362 409 6.000 Jul-10 357 -- Irving, TX(2) 26,030 8,677 8.160 Oct-10 2,432 24,454 Lake Mary, FL(2) 12,955 4,318 7.880 Oct-10 1,181 12,118 Lake Mary, FL(2) 12,917 4,306 7.880 Oct-10 1,178 12,082 Parsippany, NJ(2) 40,079 13,360 7.350 Mar-11 3,472 37,047 Novato, CA(3) 22,237 6,671 5.750 Jul-11 1,600 20,307 Winchester, VA(2) 10,535 3,512 7.330 Aug-11 908 9,675 Antioch, TN(8) 14,297 4,289 7.940 Oct-11 1,580 11,177 Milford, OH(2) 16,329 5,443 8.170 Feb-12 1,764 12,686 Des Moines, IA(8) 22,761 6,828 5.147 May-12 1,188 22,153 Fort Worth, TX(8) 19,645 5,894 5.097 May-12 1,166 17,823 Raleigh, NC(3) 12,900 3,870 4.947 May-12 647 12,543 Farmington Hills, MI(2) 20,622 6,874 5.420 Sep-12 1,500 17,724 Laurens, SC(2) 16,958 5,653 6.000 Sep-12 1,396 14,022 Temperance, MI(2) 11,368 3,789 6.000 Sep-12 936 9,400 Baton Rouge, LA(8) 6,796 2,039 4.900 Oct-12 443 5,943 Plymouth, MI(3) 12,284 3,685 6.220 Dec-12 1,026 10,026 Colorado Springs, CO(2) 11,586 3,862 6.250 Dec-12 887 10,272 Centennial, CO(8) 15,523 4,657 6.150 Feb-13 1,177 13,555 Los Angeles, CA(4) 80,182 20,046 5.330 May-13 4,333 73,071 Dallas, TX(8) 40,921 12,276 5.218 May-13 2,472 36,454 Malvern, PA(3) 13,054 3,916 5.530 Jan-14 916 11,236 Arlington, TX(4) 21,507 5,377 5.810 Feb-14 1,551 18,588 New Lenox, IL(3) 17,400 5,220 5.510 Feb-14 972 17,400 Logan Township, NJ(3) 7,690 2,307 4.760 Apr-14 371 6,784 Rancho Cordova, CA3, (5) 18,549 5,565 6.000 Sept-14 1,457 14,646 Weston, FL(3) 10,707 3,212 5.420 Nov-14 733 9,066 Issaquah, WA(4) 32,800 8,200 5.001 Dec-14 1,663 30,388 Canonsburg, PA(8) 9,095 2,729 5.377 Dec-14 489 9,095 Chicago, IL(3) 29,900 8,970 5.105 Jan-15 1,548 29,900 Herndon, VA(3) 12,233 3,670 5.920 Apr-15 888 10,359 Richmond, VA(3) 19,800 5,940 5.110 May-15 1,026 18,321 Oklahoma City, OK(7) 14,749 5,900 5.240 May-15 784 13,673 Knoxville, TN(9) 7,800 2,519 5.310 May-15 477 6,658 Tulsa, OK(9) 7,688 2,483 5.060 May-15 454 6,517 Jacksonville, FL(9) 5,804 1,875 5.110 May-15 345 4,927 McDonough, GA(4) 12,675 3,169 5.212 Jun-15 670 11,349 Mission, TX(8) 6,431 1,929 5.780 Jun-15 462 5,371 Carrollton, TX(4) 20,800 5,200 5.274 Jul-15 1,112 18,677 Houston, TX(3) 23,910 7,173 5.410 Oct-15 1,311 21,846 Wilmington, NC(4) 13,000 3,250 5.190 Mar-17 684 11,580 Weston, FL(3) 7,397 2,219 5.520 Nov-17 512 5,758 Lorain, OH(5,)(8) 1,480 444 6.000 Jul-18 108 -- Manteca, CA(5,)(8) 1,045 314 6.000 Jul-18 77 -- Watertown, NY(5,)(8) 983 295 6.000 Jul-18 72 -- Fairlea, WV(5,)(8) 691 207 6.000 Jul-18 51 -- San Diego, CA(5,)(8) 666 200 6.000 Jul-18 49 -- Galesburg, IL(5,)(8) 587 176 6.000 Jul-18 43 -- Overland Park, KS(4) 37,620 9,405 5.830 May-19 2,224 31,819
30 Lexington Corporate Properties Trust Supplemental Reporting Package Mortgages Payable 12/31/05 (000's)
------------------------------- -------------- ---------------- ------------- --------------- ---------------- ------------------ Current LXP Estimated Debt Proportionate Interest Annual Balloon Joint Venture Property Balance Share Rate Maturity Debt Service Payment ------------------------------- -------------- ---------------- ------------- --------------- ---------------- ------------------ Kansas City, MO(4) 17,950 4,488 5.830 May-19 1,061 15,182 West Chester, PA(3) 10,652 3,196 6.750 Jul-19 1,204 -- Meridian, ID(4) 10,290 2,573 6.010 Aug-19 753 7,658 Streetsboro, OH(4) 20,200 5,050 5.285 Sept-19 1,082 16,338 San Francisco, CA(3) 22,080 6,624 5.580 Nov-19 1,249 18,002 Lenexa, KS(4) 10,339 2,585 6.270 Dec-19 774 7,755 Oakland, ME(4) 10,472 2,618 5.930 Oct-20 750 7,660 Livonia, GA(9) 10,100 3,262 5.460 Dec-20 741 5,895 Durham, NH 19,182 6,394 6.730 Mar-21 1,309 -- -------- -------- ---------- --------- --------- $ 1,013,799 $ 302,114 6.003% $ 71,641 $ 856,955 ========= ======== =========== ========= =========
1. The Company has a 40% economic interest in this property through Lexington Columbia LLC. 2 The Company has a 33 1/3% economic interest in this property thorough Lexington Acquiport Company LLC. 3 The Company has a 30% economic interest in this property through Lexington/Lion Venture LP. 4 The Company has a 25% economic interest in this property through Lexington Acquiport Company II, LLC. 5. Debt balances based upon imputed rates. 6. The Company has a 33 1/3% economic interest in this property through Lexington Durham LP. 7. The Company has a 40% economic interest in this property through Lexington Oklahoma City, LP. 8 The Company has a 30% economic interest in this property through Triple Net Investment Company LLC. 9. The Company has a 32.3% economic interest in this property through Lexington Strategic Asset Corp. 31 Lexington Corporate Properties Trust Supplemental Reporting Package Debt Maturity Schedule 12/31/05 ($000's)
Consolidated properties ------------------------------------------------------------------------------------------------------------ Scheduled Balloon Balloon Weighted Amortization Payments(1) Average Interest Rate ------------ -------- --------------------- 2006 $ 28,115 $ 11,870 8.09% 2007 36,011 -- -- 2008 30,850 58,969 6.79 2009 32,013 47,680 7.18 2010 30,929 56,558 7.88 --------- --------- ----------- $ 157,918 $ 175,077 7.34% ========= ========= =========== Joint venture properties - LXP proportionate share ------------------------------------------------------------------------------------------------------------ Scheduled Balloon Balloon Weighted Amortization Payments(2) Average Interest Rate ------------ -------- --------------------- 2006 $ 3,424 $ -- -- 2007 3,988 -- -- 2008 4,415 -- -- 2009 5,086 23,570 6.67% 2010 4,998 20,538 8.06 --------- --------- ----------- $ 21,911 $ 44,108 7.31% ========= ========= ===========
(1) Properties encompassing totals are detailed on pages 27 and 28. (2) Properties encompassing totals are detailed on pages 30 and 31. 32 Lexington Corporate Properties Trust Supplemental Reporting Package Revenue By Tenant Industry 12/31/05
--------------------------------------------------------------- -------------------------------- Percentage of Historical Tenant Industry Annual Base Rent (1) --------------------------------------------------------------- -------------------------------- Energy 14.2% Finance/Insurance/Professional Services 14.0 Technology 11.2 Automotive 7.9 Telecommunications 6.1 Transportation/Logistics 5.6 Retail-Department/ Discount Store 5.4 Healthcare 4.6 Media/Advertising 4.4 Food 4.2 Consumer Products/Other 4.0 Construction Materials 3.9 Retail-Specialty 3.7 Printing/Production 3.2 Aerospace/Defense 2.4 Retail-Electronics 1.6 Health/Fitness 1.1 Apparel 1.0 Security 0.9 Other 0.6 ------- 100.0% =======
(1) Includes proportionate share of joint venture investments and rental revenue recognized from properties sold through date of sale. 33 Lexington Corporate Properties Trust Supplemental Reporting Package Revenue by MSA 12/31/05
Percent of Base Rent for the Year Ended 12/31/05 ------- -------------------------------------------------------------- ---------------------- 1 Houston-TX 9.04% 2 Dallas-Fort Worth-TX 5.15% 3 Philadelphia-Wilmington-PA 4.62% 4 Detroit-MI 4.48% 5 Los Angeles-Riverside-Orange County-CA 4.22% 6 Youngstown-Warren-OH 3.89% 7 Phoenix-Mesa-AZ 3.73% 8 Salt Lake City-UT 3.56% 9 Boston-MA 3.43% 10 Atlanta-GA 3.10% 11 Charlotte-NC 2.82% 12 Harrisburg-PA 2.57% 13 New York-Northern New Jersey 2.45% 14 Richmond-VA 2.12% 15 Chicago-IL 2.10% 16 San Antonio-TX 2.00% 17 West Palm Beach-Boca Raton-FL 1.92% 18 Washington-Baltimore-DC-MD 1.82% 19 San Francisco-CA 1.74% 20 Indianapolis-IN 1.73% 21 Columbia-SC 1.46% 22 Columbus-OH 1.31% 23 Dillon-SC 1.16% 24 Memphis-TN 1.09% 25 Greenville-Spartanburg-SC 1.07% 26 Tampa-St. Petersburg-FL 1.06% 27 Seattle-WA 1.03% 28 Ocala-FL 0.98% 29 Kalamazoo-Battle Creek-MI 0.94% 30 Norfolk-Virginia Beach-Newport News-VA 0.88% 31 Orlando-FL 0.83% 32 Knoxville-TN 0.83% 33 Chester-SC 0.82% 34 Kansas City-MO-KS 0.78% 35 Cincinnati-OH 0.75% 36 Florence-SC 0.74% 37 Elizabethtown, KY 0.74% 38 Hartford-CT 0.71% 39 Killeen-Temple-TX 0.68% 40 Redmond-OR 0.68% 41 Cleveland-OH 0.67% 42 Jackson-TN 0.62% 43 Des Moines-IA 0.62% 44 Denver-CO 0.60% 45 Jacksonville-FL 0.58% 46 San Diego-CA 0.51% 47 Dubuque-IA 0.51% 48 Canton-OH 0.50%
34 Lexington Corporate Properties Trust Supplemental Reporting Package Revenue by MSA 12/31/05
Percent of Base Rent for the Year Ended 12/31/05 ------- -------------------------------------------------------------- ---------------------- 49 Greensboro-Winston-Salem-NC 0.47% 50 Tulsa-OK 0.47% 51 Laurens-SC 0.47% 52 Birmingham-AL 0.46% 53 Klamath Falls-OR 0.44% 54 Waterloo-Cedar Falls-IA 0.44% 55 Honolulu-HI 0.42% 56 Newport-OR 0.41% 57 Danville-IL 0.41% 58 Portland-OR 0.38% 59 Sacramento-CA 0.37% 60 Miami-Fort Lauderdale-FL 0.36% 61 Henderson-NC 0.35% 62 Baton Rouge-LA 0.33% 63 Fort Meyers-FL 0.33% 64 Clarksville-TN 0.32% 65 Nashville-TN 0.28% 66 New Haven-CT 0.26% 67 Oklahoma, OK 0.25% 68 Minneapolis-St. Paul-MN 0.24% 69 Colorado Springs-CO 0.24% 70 Winchester-VA 0.22% 71 Eau Claire-WI 0.20% 72 Tucson-AZ 0.20% 73 Wilmington-NC 0.18% 74 Pittsburgh-PA 0.18% 75 Owensboro-KY 0.17% 76 Clackamas-OR 0.16% 77 Stockton-Lodi-CA 0.16% 78 Franklin-NC 0.16% 79 Raleigh-Durham-Chapel Hill-NC 0.15% 80 Gordonsville, TN 0.15% 81 Boise City, ID 0.14% 82 Lavonia-GA 0.14% 83 McAllen-Edinburg-Mission-TX 0.13% 84 Mansfield-OH 0.12% 85 Watertown-NY 0.06% 86 Oakland-ME 0.05% 87 Lewisburg-WV 0.04% 88 Galesburg-IL 0.04% 89 Omaha-NE-IA 0.01% 90 Lynchburg-VA 0.00% ------- -------------------------------------------------------------- ---------------------- Totals 100.00%
35 Lexington Corporate Properties Trust Supplemental Reporting Package Other Revenue Data 12/31/05
Historical Year to Date Base Revenue by Property Type Rent ($000's)(A) Percentage ---------------------------------------------------- -------------------------------- -------------------------------- Office $ 150,485 65.6% Industrial 68,100 29.7 Retail 10,776 4.7 ---------- ------- $ 229,361 100.0% ========== ======= Revenue by Credit Rating(B) Investment Grade $ 93,005 40.6% Non-Investment Grade 37,712 16.4 Unrated 98,644 43.0 ------------ ------- $ 229,361 100.0% ============ ======= Percentage of Base Rent for the Number of Year Ended Top 15 Tenants/Guarantors Properties(B) Property Type 12/31/05(A) ---------------------------------------------------- ---------------- ---------------------------------- --------------------- Baker Hughes, Inc. 4 Office (3)/Industrial (1) 5.8% Kmart Corporation 7 Industrial(1)/Retail (6) 4.3 Dana Corporation 10 Office (1)/Industrial (9) 3.6 Northwest Pipeline Corp. 1 Office 3.6 Wells Fargo Home Mortgage, Inc. 2 Office 2.8 Invensys Systems, Inc. (Siebe, Inc.) 2 Office 2.5 Exel Logistics, Inc.(NFC plc) 4 Industrial 2.1 Nextel Finance Company 4 Office 2.0 Internet Security Systems, Inc. 1 Office 1.9 Owens Corning 4 Industrial 1.8 Michaels Stores, Inc. 2 Industrial 1.7 Harcourt Brace 1 Industrial 1.5 James Hardie Building Products, Inc. 1 Industrial 1.5 (James Hardie Industries N.V.) Circuit City Stores, Inc. 2 Office (1)/Industrial (1) 1.4 Honeywell, Inc. 3 Office (3) 1.3 - --- 48 37.8% == =====
(A) Includes proportionate share of joint venture investments and rental revenue recognized from properties sold through the date of sale. (B) As of December 31, 2005. 36