EX-99 5 ex99-2.txt EX. 99.2: SUPPLEMENTAL REPORTING PACKAGE Exhibit 99.2 LEXINGTON CORPORATE PROPERTIES TRUST SUPPLEMENTAL REPORTING PACKAGE For the nine months ended September 30, 2006 Table of Contents Statements of Operations............................... 1 Balance Sheets......................................... 2 Combined Joint Venture Income Statement................ 3 Third Quarter Transaction Summary...................... 4 Second Quarter Transaction Summary..................... 5 First Quarter Transaction Summary ..................... 6 Property Holdings...................................... 7 Properties by Location................................. 18 Lease Rollover Schedules............................... 19 Mortgages and Notes Payable............................ 21 Revenue by Tenant Industry............................. 27 Revenue by MSA......................................... 28 Other Revenue Data..................................... 30 LEXINGTON CORPORATE PROPERTIES TRUST AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (dollars in thousands, except per share data)
Three Months Ended Nine Months Ended September 30, September 30, 2006 2005 2006 2005 ---- ---- ---- ---- Gross revenues: Rental $ 46,205 $ 47,437 $ 137,080 $ 122,521 Advisory fees 1,127 995 3,527 4,186 Tenant reimbursements 4,302 4,205 12,622 7,194 ---------- ---------- ---------- ----------- Total gross revenues 51,634 52,637 153,229 133,901 Expense applicable to revenues: Depreciation and amortization (20,054) (19,522) (59,576) (47,271) Property operating (8,113) (7,705) (23,126) (15,003) General and administrative (5,394) (4,154) (15,868) (13,153) Non-operating income 963 297 7,669 1,187 Interest and amortization expense (17,572) (17,963) (52,825) (45,373) Debt satisfaction (charges) gains, net (510) -- (216) 4,632 Impairment charges -- -- (1,121) -- ---------- ---------- ---------- ----------- Income before benefit (provision) for income taxes, minority interests, equity in earnings of non-consolidated entities and discontinued operations 954 3,590 8,166 18,920 Benefit (provision) for income taxes (178) 111 (23) 45 Minority interests (168) (484) (1,231) (2,154) Equity in earnings of non-consolidated entities 1,005 2,328 3,075 5,087 ---------- ---------- ---------- ------------ Income from continuing operations 1,613 5,545 9,987 21,898 ---------- ---------- ---------- ----------- Discontinued operations, net of minority interest and taxes: Income from discontinued operations 919 2,007 3,194 6,745 Debt satisfaction (charge) gain, net 15 -- 4,913 (54) Impairment charges (21,612) (177) (21,612) (800) Gains on sales of properties 1,470 1,595 17,520 6,656 ---------- ---------- ---------- ----------- Total discontinued operations (19,208) 3,425 4,015 12,547 ---------- ---------- ---------- ----------- Net income (loss) (17,595) 8,970 14,002 34,445 Dividends attributable to preferred shares - Series B (1,590) (1,590) (4,770) (4,770) Dividends attributable to preferred shares - Series C (2,519) (2,519) (7,556) (7,556) ---------- ---------- ---------- ----------- Net income (loss) allocable to common shareholders $ (21,704) $ 4,861 $ 1,676 $ 22,119 =========== =========== =========== =========== Company's funds from operations(1) $ (313) $ 30,213 $ 66,497 $ 87,354 =========== =========== =========== =========== Per share/unit: Basic net income (loss) $ (0.42) $ 0.10 $ 0.03 $ 0.45 Diluted net income (loss) $ (0.42) $ 0.08 $ 0.03 $ 0.41 Company's funds from operations(1)-basic $ (0.00) $ 0.49 $ 1.05 $ 1.45 Company's funds from operations(1)-diluted $ (0.00) $ 0.49 $ 1.05 $ 1.44
1 LEXINGTON CORPORATE PROPERTIES TRUST AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (dollars in thousands)
9/30/06 12/31/05 ------- -------- Real estate, at cost $ 1,840,739 $ 1,883,115 Accumulated depreciation (255,400) (241,188) Investment in joint ventures 181,246 191,146 Properties held for sale - discontinued operations 16,227 49,397 Intangible assets, net 128,932 128,775 Cash and cash equivalents 62,819 53,515 Deferred expenses, net 15,037 13,582 Rent receivable 3,264 7,673 Rent receivable - deferred 27,882 24,778 Other assets 76,135 49,439 ----------- ----------- $ 2,096,881 $ 2,160,232 =========== =========== Mortgages and notes payable $ 1,146,371 $ 1,139,971 Liabilities - discontinued operations 8,931 32,145 Other liabilities 38,829 35,434 Dividends payable 23,490 -- Minority interests 52,641 61,372 Shareholders' equity 826,619 891,310 ----------- ----------- $ 2,096,881 $ 2,160,232 =========== =========== Common shares 53,099,996 52,155,855 Preferred shares - Series B 3,160,000 3,160,000 Preferred shares - Series C 3,100,000 3,100,000 Operating partnership units 5,619,358 5,720,071
1. Lexington believes that funds from operations ("FFO") is a widely recognized and appropriate measure of the performance of an equity REIT. Lexington presents FFO because it considers FFO an important supplemental measure of Lexington's operating performance. 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 generally accepted accounting principles ("GAAP") historical cost depreciation and amortization of real estate and related assets, which assumes that the value of real estate diminishes ratably overtime. 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. Lexington computes FFO in accordance with standards established by the National Association of Real Estate Investment Trusts, Inc. ("NAREIT"). FFO is defined by NAREIT 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." FFO does not represent cash generated from operating activities in accordance with GAAP and is not indicative of cash available to fund cash needs. 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. Lexington includes in its calculation of FFO, which as included Lexington refers to as the "Company's funds from operations" or "Company FFO," Lexington's operating partnership units and Lexington's Series C Cumulative Convertible Preferred Shares because these securities are convertible, at the holder's option, into Lexington's common shares. Management believes this is appropriate and relevant to securities analysts, investors and other interested parties because it presents Company FFO on a company-wide basis as if all securities that are convertible, at the holder's option, into Lexington's common shares, are converted. Since others do not calculate FFO in a similar fashion, Company FFO may not be comparable to similarly titled measures as reported by others. 2 LEXINGTON CORPORATE PROPERTIES TRUST JOINT VENTURE PROPORTIONATE SHARE COMBINED CONDENSED STATEMENT OF INCOME (dollars in thousands)
Three Months Ended Nine Months Ended September 30, 2006 September 30, 2006 ------------------ ------------------ Gross revenues $ 13,326 $ 37,743 ---------- ---------- Depreciation and amortization (5,558) (16,253) Interest and amortization (4,790) (13,899) Other income and expenses, net (2,279) (5,364) ---------- ---------- Expenses (12,627) (35,516) ---------- ---------- Net income $ 699 $ 2,227 ========== ==========
3 LEXINGTON CORPORATE PROPERTIES TRUST 2006 Third Quarter Transaction Summary ($000's)
Acquisitions 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 ------------------ -------- ---- ----- --------- ----- --------- ----- ---- Parkway Chevrolet, Inc. (2) Tomball, TX Specialty $ 14,718 $ 1,488 10.1 % $ 1,227 8.3 % 08-26 ====== ====== ====== ======== ======= Dispositions Property Tenants/Guarantors Location Type Net Sale Price Net Book Value ------------------ -------- ---- -------------- -------------- Vacant Phoenix, AZ Office $ 2,845 $ 930 ===== ======== New Leases/Lease Extensions Property Previous Extended Rent Per Square Tenants/Guarantors Location Type Term Term Annum Feet ------------------ -------- ---- ---- ---- ----- ---- Citibank(1) San Francisco, CA Office -- 08-11 $ 105 6,545 Exel Logistics, Inc. (NFC plc) Mechanicsburg, PA Industrial 12-07 12-12 866 252,000 Exel Logistics, Inc. (NFC plc) New Kingston, PA Industrial 11-06 12-06 599 179,200 Exel Logistics, Inc. (NFC plc) New Kingston, PA Industrial 11-06 05-07 1,270 330,000 TFC Services / (Freeman Decorating Dallas, TX Office -- 01-19 1,499 108,565 Co.) New Financings Tenants/Guarantors Location Amount Rate Maturity Date ------------------ -------- ------ ---- ------------- Avnet, Inc. Phoenix, AZ $ 19,250 6.27% 09-13 Bay Valley Foods, LLC (2) Plymouth, IN 6,675 6.32% 09-16 Corning, Inc. (1) Erwin, NY 9,500 5.91% 10-18 ----- ----- $ 35,425 6.18% ====== ===== Mortgage Investment Borrower Location Interest Rate Invested Amount Maturity -------- -------- ------------- --------------- -------- JR Boudreaux (2) Tomball, TX Libor + 300bps $ 1,750 08-11 =======
(1) The Company has a 30% interest in this property. (2) The Company has a 32.3% interest in this property. 4
LEXINGTON CORPORATE PROPERTIES TRUST 2006 Second Quarter Transaction Summary ($000's) Acquisitions 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 ------------------ -------- ---- ----- --------- ----- --------- ----- ---- Haggar Clothing Corporation (1) Dallas, TX Office $28,340 $2,272 8.0% $2,083 7.4% 04-16 American Golf Corporation (2) Oklahoma Specialty 5,294 475 9.0 475 9.0 12-17 City, OK Montgomery County Management LLC (2) Houston , TX Office 10,010 807 8.1 718 7.2 10-19 Corning, Inc. (1) Erwin, NY Industrial 13,399 1,084 8.1 1,084 8.1 07-16 Bay Valley Foods, LLC (2) Plymouth, IN Industrial 8,984 802 8.9 763 8.5 06-15 ----- ------ --- -------- --- $66,027 $5,440 8.2% $5,123 7.8% ====== ===== ==== ===== ==== Dispositions Property Tenants/Guarantors Location Type Net Sale Price Net Book Value ------------------ -------- ---- -------------- -------------- Associated Grocers of Florida, Inc. Ocala, FL Industrial $28,972 $18,694 Physical Fitness Center of Philadelphia, Voorhees, NJ Retail 5,950 3,238 Inc. (Bally Total Fitness Corp.) Stone Container Corporation Columbia, SC Industrial 5,628 4,607 Vacant(4) Phoenix, AZ Office 4,284 4,011 Vacant(3) Milpitas, CA Office -- -- ---------- ------ $44,834 $ 30,550 ====== ====== New Leases Property Previous Extended Rent Per Tenants/Guarantors Location Type Term Term Annum Square Feet ------------------ -------- ---- ---- ---- ----- ----------- FTJ FundChoice, LLC Hebron, KY Office -- 09-12 $ 52 9,164 WM Wright Co. (1) Antioch, TN Industrial -- 03-21 1,016 338,700 New Financings Tenants/Guarantors Location Amount Rate Maturity Date ------------------ -------- ------ ---- ------------- Montgomery County Management LLC (2) Houston, TX $7,500 6.51% 11/19 Haggar Clothing Corporation (1) Dallas, TX 18,363 6.10% 07/16 Oce Printing Systems USA, Inc. Boca Raton, FL 20,400 6.47% 02/20 ------ ----- $46,263 6.33% ====== ==== Mortgage Investment Borrower Location Face Rate Effective Rate Invested Amount Face Amount -------- -------- --------- -------------- --------------- ----------- Northwestern Holding Corp. Southfield, MI 4.55% 7.50% $11,151 $13,027 Bankruptcy Claim Receipts Tenants Location Claim Proceeds ------- -------- -------------- Dana Corporation (1) Antioch, TN $ 5,680 Dana Corporation Farmington Hills, MI 5,376 ----- $11,056
(3) The Company has a 30% interest in this property. (4) The Company has a 32.3% interest in this property. (5) The Company completed a foreclosure with lender resulting in a $6,289 gain. (6) The Company sold a sub-divided portion of the property, remaining parcel under contract for sale. 5 LEXINGTON CORPORATE PROPERTIES TRUST 2006 First Quarter Transaction Summary ($000's)
Acquisitions 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 ------------------ -------- ---- ----- --------- ----- --------- ----- ---- AS Watson(1) Renswoude, The Netherlands Office $ 39,291 $ 2,294 5.8% $ 2,851 7.3% 12-11 & 06-18 Dana Corporation(2) Crossville, TN Industrial 4,776 460 9.6 460 9.6 08-16 --------- -------- --- ------- --- $ 44,067 $ 2,754 6.2% $ 3,311 7.5% ========= ======== ==== ======= ===== Dispositions Property Tenants/Guarantors Location Type Net Sale Price Net Book Value ------------------ -------- ---- -------------- -------------- The Dial Corporation Scottsdale, AZ Office $ 22,563 $ 22,314 Bally Total Fitness Corp. Countryside, IL Retail 5,698 3,293 --------- --------- $ 28,261 $ 25,607 ========== ========= New Leases Property Previous Extended Rent Per Tenants/Guarantors Location Type Term Term Annum Square Feet ------------------ -------- ---- ---- ---- ----- ----------- The Visiting Nurse Association of Dallas, TX Office -- Jun-16 $ 615 48,027 Texas New Financings Tenants/Guarantors Location Amount Rate Maturity Date ------------------ -------- ------ ---- ------------- Harbor Freight Tools USA, Inc. Dillon, SC $ 23,750 5.97% Feb-22 (i) Structure, LLC (Infocrossing, Omaha, NE 9,000 5.61 Apr-16 Inc.)(2) (i) Structure, LLC (Infocrossing, Tempe, AZ 8,500 5.61 Apr-16 Inc.)(2) AS Watson(1) Renswoude, The 33,136 5.31 Apr-11 Netherlands -------- ---- $ 74,386 5.59% ======== =====
(1) Lexington has a 90% interest in this property. (2) Lexington has a 32.3% interest in this property. 6 Lexington Corporate Properties Trust Supplemental Reporting Package Property Holdings 9/30/06
------------------------------------------------------------------------------------------------------- YTD YTD Base Cash Base GAAP Revenue Revenue Square Property Location Tenant (Guarantor) ($000) ($000) Footage ------------------------------------------------------------------------------------------------------- Office ------ 295 Chipeta Way Northwest Pipeline Corp. $ 4,741 $ 4,741 295,000 Salt Lake City, UT 10001 Richmond Avenue Baker Hughes, Inc. 3,998 5,527 554,385 Houston, TX 6303 Barfield Road & 859 Internet Security Systems, 4,718 4,548 289,000 Mount Vernon Hwy. Inc. Atlanta, GA 1701 Market Street Morgan Lewis & Bockius 3,635 3,642 322,317 Philadelphia, PA LLP(1) (3) 3480 Stateview Blvd. Wells Fargo Bank N.A. 2,416 2,587 169,218 Fort Mill, SC 33 Commercial Street Invensys Systems, Inc. 2,480 2,480 164,689 Foxboro, MA (Siebe, Inc.) 3476 Stateview Boulevard Wells Fargo Home 2,162 2,266 169,083 Fort Mill, SC Mortgage, Inc. 9950 Mayland Drive Circuit City Stores, Inc. 2,145 2,094 288,562 Richmond, VA 1415 Wyckoff Road New Jersey Natural Gas Co. 2,193 2,193 157,511 Wall Township, NJ 2750 Monroe Boulevard Quest Diagnostics, Inc. 1,884 1,916 109,281 Valley Forge, PA 700 Oakmont Lane North American Van Lines, Inc. 1,824 1,928 269,715 Westmont, IL (SIRVA, Inc.) 70 Mechanic Street Invensys Systems, Inc. 2,197 1,921 251,914 Foxboro, MA (Siebe, Inc.) 13651 McLearen Road Boeing North American 2,066 1,852 159,664 Herndon, VA Services, Inc. (The Boeing Company) 1311 Broadfield Blvd. Transocean, Inc. 1,713 1,708 103,260 Houston, TX Newpark Resources, Inc. 847 853 52,731 601 & 701 Experian Pkwy. TRW Inc. (Experian 2,762 2,530 292,700 Dallas, TX Information Solutions, Inc.) 2211 South 47th Street Avnet, Inc. 1,654 1,694 176,402 Phoenix, AZ 5600 Broken Sound Blvd Oce Printing Systems USA, Inc. 1,509 1,684 143,290 Boca Raton, FL 4200 RCA Boulevard The Wackenhut Corp. 1,636 1,625 114,518 Palm Beach Gardens, FL 701 Brookfield Parkway Verizon Wireless 1,508 1,550 192,884 Greenville, SC 19019 No. 59th Avenue Honeywell, Inc. 1,502 1,490 252,300 Glendale, AZ
7 Lexington Corporate Properties Trust Supplemental Reporting Package Property Holdings 9/30/06
------------------------------------------------------------------------------------------------------- YTD YTD Base Cash Base GAAP Revenue Revenue Square Property Location Tenant (Guarantor) ($000) ($000) Footage ------------------------------------------------------------------------------------------------------- 4201 Marsh Lane Carlson Restaurants Worldwide, 1,401 1,482 130,000 Carrollton, TX Inc. 12645 W. Airport Road Baker Hughes, Inc. 1,197 1,454 165,836 Sugar Land, TX 26210 and 26220 Enterprise Apria Healthcare Group, 1,313 1,344 Court Inc. 100,012 Lake Forest, CA 10475 Crosspoint Blvd. John Wiley & Sons, Inc. 1,797 1,797 141,047 Fishers, IN 2210 Enterprise Drive Washington Mutual Home 1,312 1,274 177,747 Florence, SC Loan, Inc. 27404 Drake Road Vacant (4) 971 908 111,454 Farmington Hills, MI 200 Executive Blvd. S Hartford Fire Insurance Co. 1,260 1,218 153,364 Southington, CT 810-820 Gears Road IKON Office Solutions, 1,672 1,688 157,790 Houston, TX Inc. 1600 Eberhardt Road Nextel of Texas 1,130 1,169 108,800 Temple, TX 2999 SW 6th St. Voice Stream PCS I LLC 1,001 1,164 77,484 Redmond, OR (T-Mobile USA, Inc.) 160 Clairemont Avenue Allied Holdings, Inc. 1,258 1,140 112,248 Decatur, GA 27016 Media Center Drive Playboy Enterprises, Inc. 1,004 943 63,049 Los Angeles, CA Sony Electronics, Inc. 197 203 20,203 2800 Waterford Lake Dr. Alstom Power, Inc. 1,348 1,511 99,057 Richmond, VA 26555 Northwestern Highway Federal-Mogul Corporation 869 1,064 187,163 Southfield, MI 10419 North 30th Street Time Customer Service, Inc. 1,111 1,057 132,981 Tampa, FL (Time, Inc.) 250 Rittenhouse Circle Jones Apparel Group 949 1,039 255,019 Bristol, PA USA, Inc. (Jones Apparel Group, Inc.) 8555 South River Pkwy. ASM Lithography Holding 1,598 1,381 95,133 Tempe, AZ NV 400 Butler Farm Road Nextel Communications of 986 977 100,632 Hampton, VA the Mid-Atlantic, Inc. (Nextel Finance Company) 16676 Northchase Dr. Kerr-McGee Corporation 1,167 1,220 101,111 Houston, TX 6200 Northwest Pkwy. PacifiCare Health Systems, 1,230 1,216 142,500 San Antonio, TX Inc.
8 Lexington Corporate Properties Trust Supplemental Reporting Package Property Holdings 9/30/06
--------------------------------------------------------------------------------------------------------- YTD YTD Base Cash Base GAAP Revenue Revenue Square Property Location Tenant (Guarantor) ($000) ($000) Footage --------------------------------------------------------------------------------------------------------- 5757 Decatur Blvd. Allstate Insurance Co. 935 1,161 84,200 Indianapolis, IN Holladay Property Services 56 56 5,756 4000 Johns Creek Pkwy. Kraft Foods N.A., Inc. 1,004 1,039 73,264 Atlanta, GA PerkinElmer Instruments 158 174 13,955 LLC 6455 State Hwy 303 NE Nextel West Corporation 771 835 60,200 Bremerton, WA 270 Billerica Road Cadence Design Systems 761 799 100,000 Chelmsford, MA 2550 Interstate Dr. AT&T Wireless Services, 1,072 1,087 81,859 Harrisburg, PA Inc. 180 Rittenhouse Circle Jones Apparel Group 713 728 96,000 Bristol, PA USA, Inc. (Jones Apparel Group, Inc.) 2529 West Thorns Drive Baker Hughes, Inc. 487 634 65,500 Houston, TX 12000 Tech Center Drive Kelsey-Hayes Company 587 617 80,230 Livonia, MI 2401 Cherahala Boulevard Advance PCS, Inc. 589 616 59,748 Knoxville, TN 1275 NW 128th Street Principal Life Insurance 599 587 61,180 Clive, IA Company 13430 N. Black Canyon Freeway Bull HN Information Phoenix, AZ Systems, Inc. 588 627 69,492 Associated Billing 50 205 17,767 Services, LLC VACANT -- -- 49,799 12600 Gateway Blvd. Gartner, Inc. 748 789 62,400 Fort Meyers, FL 421 Butler Farm Road Nextel Communications of 553 539 56,515 Hampton, VA the Mid-Atlantic, Inc. (Nextel Finance Company) 3940 South Teller St. Travelers Express, Inc. 818 649 68,165 Lakewood, CO 100 Barnes Road Minnesota Mining and 436 454 44,400 Wallingford, CT Manufacturing Company 1440 East 15th Street Cox Communications, Inc. 349 342 28,591 Tucson, AZ 250 Turnpike Road Honeywell Consumer 344 344 57,698 Southborough, MA Products 11555 University Blvd. Kelsey-Seybold Clinic 836 922 72,683 Sugarland, TX (St. Luke's Episcopal Health System) Nijborg 15 & 17, 3927 DA AS Watson (Health & Beauty 1,982 1,569 122,450 Renswoude, The Netherlands Continental Europe)(2)
9 Lexington Corporate Properties Trust Supplemental Reporting Package Property Holdings 9/30/06
--------------------------------------------------------------------------------------------------------- YTD YTD Base Cash Base GAAP Revenue Revenue Square Property Location Tenant (Guarantor) ($000) ($000) Footage --------------------------------------------------------------------------------------------------------- 2300 Litton Lane AGC Automotive Americas 153 162 21,542 Hebron, KY Company FTJ FundChoice, LLC -- 13 9,164 VACANT -- -- 49,714 1600 Viceroy Drive The Visiting Nurse 126 319 48,027 Dallas, TX Association of Texas TFC Services -- 19 108,565 (Freeman Decorating Co.) VACANT -- -- 92,860 ------------------------------------------------------------------------- Subtotal $ 89,076 $ 91,364 8,922,778 ------------------------------------------------------------------------- Industrial ---------- 541 Perkins Jones Road Kmart Corp. $ 7,020 $ 6,699 1,462,642 Warren, OH 19500 Bulverde Road Harcourt Brace 2,422 2,572 559,258 San Antonio, TX 2425 Highway 77 North James Hardie Building 2,550 2,550 425,816 Waxahachie, TX Products, Inc. (James Hardie Industries NV) 3501 West Avenue H Michaels Stores, Inc. 2,428 2,478 762,775 Lancaster, CA 9110 Grogans Mill Road Baker Hughes, Inc. 1,885 2,295 275,750 Houston, TX 159 Farley Drive Harbor Freight Tools 2,070 2,279 1,010,859 Dillon, SC USA, Inc. (Central Purchasing, Inc.) 590 Ecology Lane Owens Corning 1,639 1,639 420,597 Chester, SC 6345 Brackbill Boulevard Exel Logistics, Inc. 1,528 1,389 507,000 Mechanicsburg, PA (NFC plc) 3820 Micro Drive Ingram Micro Inc. 1,539 1,716 701,819 Memphis, TN 431 Smith Lane Kirkland's, Inc. 1,079 1,079 771,120 Jackson, TN 750 N. Black Branch Road Dana Corporation 2,129 2,129 539,592 Elizabethtown, KY 6938 Elm Valley Dr. Dana Corporation 1,382 1,382 150,945 Kalamazoo, MI 4425 Purks Road Vacant(5) 786 764 183,717 Auburn Hills, MI
10 Lexington Corporate Properties Trust Supplemental Reporting Package Property Holdings 9/30/06
------------------------------------------------------------------------------------------------------- YTD YTD Base Cash Base GAAP Revenue Revenue Square Property Location Tenant (Guarantor) ($000) ($000) Footage ------------------------------------------------------------------------------------------------------- 6 Doughten Road Exel Logistics, Inc. 1,115 1,019 330,000 New Kingston, PA (NFC plc) 6500 Adelaide Court Anda Pharmaceuticals, Inc. 918 875 354,676 Groveport, OH (Andrx Corporation) 7500 Chavenelle Road The McGraw-Hill 817 873 330,988 Dubuque, IA Companies, Inc. 12025 Tech Center Drive Kelsey-Hayes Company 808 854 100,000 Livonia, MI 250 Swathmore Avenue Steelcase, Inc. 776 815 244,851 High Point, NC Moody Commuter & Tech Park TNT Logistics North 790 790 595,346 Moody, AL America, Inc. (TPG N.V.) 3102 Queen Palm Drive Time Customer Service, 774 757 229,605 Tampa, FL Inc. (Time, Inc.) 2280 Northeast Drive Ryder Integrated 748 753 276,480 Waterloo, IA Logistics, Inc. (Ryder Systems, Inc.) 245 Salem Church Road Exel Logistics, Inc. 769 703 252,000 Mechanicsburg, PA (NFC plc) 200 Arrowhead Drive Owens Corning 770 739 400,522 Hebron, OH 3600 Southgate Drive Sygma Network, Inc. 700 700 149,500 Danville, IL 46600 Port Street Johnson Controls, Inc. 723 723 134,160 Plymouth, MI 301 Bill Byran Road Dana Corporation 1,108 1,108 424,904 Hopkinsville, KY 450 Stern Street Johnson Controls, Inc. 547 547 111,160 Oberlin, OH 1133 Poplar Creek Road Corporate Express Office 592 607 196,946 Henderson, NC Products, Inc. (Buhrmann, N.V.) 10000 Business Boulevard Dana Corporation 1,009 1,009 336,350 Dry Ridge, KY 7670 Hacks Cross Road Dana Corporation 661 631 268,100 Olive Branch, MS 34 East Main Street Exel Logistics, Inc. 540 492 179,200 New Kingston, PA (NFC plc) 191 Arrowhead Drive Owens Corning (6) 493 478 250,410 Hebron, OH
11 Lexington Corporate Properties Trust Supplemental Reporting Package Property Holdings 9/30/06
------------------------------------------------------------------------------------------------------- YTD YTD Base Cash Base GAAP Revenue Revenue Square Property Location Tenant (Guarantor) ($000) ($000) Footage ------------------------------------------------------------------------------------------------------- 904 Industrial Road Tenneco Automotive 445 450 195,640 Marshall, MI Operating Company, Inc. (Tenneco Automotive, Inc.) 109 Stevens Street Unisource Worldwide, Inc. 440 441 168,800 Jacksonville, FL 1901 49th Avenue Owens Corning 419 419 18,620 Minneapolis, MN 7150 Exchequer Drive Corporate Express Office 329 329 79,086 Baton Rouge, LA Products, Inc. (Buhrmann, N.V.) 4010 Airpark Drive Dana Corporation 730 730 251,041 Owensboro, KY 324 Industrial Park Road SKF USA, Inc. 296 296 72,868 Franklin, NC 187 Spicer Drive Dana Corporation 266 256 148,000 Gordonsville, TN 730 N. Black Branch Road Dana Corporation 403 403 167,770 Elizabethtown, KY 3350 Miac Cove Road Mimeo.com, Inc. 202 278 107,000 Memphis, TN VACANT -- -- 34,359 300 McCormick Road Ameritech Services, Inc. 95 116 20,000 Columbus, OH 1601 Pratt Avenue Joseph Campbell Company 105 106 58,300 Marshall, MI 477 Distribution Pkwy. Federal Express Corporation 160 236 120,000 Colliersville, TN ---------------------------------------------------------------------------- Subtotal $ 47,005 $ 47,504 14,378,572 ---------------------------------------------------------------------------- Retail ------ 2655 Shasta Way Fred Meyer, Inc. $ 757 $ 757 178,204 Klamath Falls, OR Fort Street Mall, King Liberty House, Inc. 742 729 85,610 Street Honolulu, HI 150 N.E. 20th Street Fred Meyer, Inc. 737 737 118,179 Newport, OR 35400 Cowan Road Sam's Real Estate 565 565 102,826 Westland, MI Business Trust 4733 Hills & Dales Road Scandinavian Health Spa, 559 514 37,214 Canton, OH Inc. (Bally Total Fitness Corp.) 4831 Whipple Avenue, N.W. Best Buy Co., Inc. 349 349 46,350 Canton, OH
12 Lexington Corporate Properties Trust Supplemental Reporting Package Property Holdings 9/30/06
-------------------------------------------------------------------------------------------------------- YTD YTD Base Cash Base GAAP Revenue Revenue Square Property Location Tenant (Guarantor) ($000) ($000) Footage -------------------------------------------------------------------------------------------------------- 3711 Gateway Drive Kohl's Dept. Stores, Inc. 351 347 76,164 Eau Claire, WI 399 Peach Wood Centre Dr. Best Buy Co., Inc. 296 296 45,800 Spartanburg, SC 12535 S.E. 82nd Avenue Toys "R" Us, Inc. 281 252 42,842 Clackamas, OR 24100 Laguna Hills Mall Federated Department 250 262 160,000 Laguna Hills, CA Stores, Inc. 18601 Alderwood Mall Toys "R" Us, Inc. 260 224 43,105 Boulevard Lynwood, WA 6910 S. Memorial Highway Toys "R" Us, Inc. 238 205 43,123 Tulsa, OK 9580 Livingston Road GFS Realty, Inc. 154 205 107,337 Oxon Hill, MD (Giant Food, Inc.) 121 South Center Street Greyhound Lines, Inc. 162 162 17,000 Stockton, CA 2401 Wooton Parkway GFS Realty, Inc. 86 114 51,682 Rockville, MD (Giant Food, Inc.) ---------------------------------------------------------------------------- Subtotal $ 5,787 $ 5,718 1,155,436 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Grand Total $ 141,868 $ 144,586 24,456,786 ----------------------------------------------------------------------------
(1) Company has an 80.5% economic interest in this property. (2) Company has a 90.0% economic interest in this property. (3) Includes 13,268 square feet of retail space of which 2,842 is vacant. (4) Tenant rejected lease in bankruptcy and property was vacant commencing June 30, 2006. GAAP rent does not reflect accelerated amortization of $2,349. (5) Tenant lease expired in July 2006, and the property is currently vacant. (6) Tenant has rejected lease in bankruptcy and property is expected to be vacant soon after September 30, 2006. Tenant is still paying lease rent. 13 Lexington Corporate Properties Trust Supplemental Reporting Package Joint Venture Property Holdings 9/30/06
--------------------------------------------------------------------------------------------------------------------- YTD YTD Base Cash Base GAAP Revenue Revenue Square LXP Property Location Tenant (Guarantor) ($000) ($000) Footage Ownership --------------------------------------------------------------------------------------------------------------------- Office ------ 389-399 Interpace Highway Aventis Pharmaceuticals, $ 6,920 $ 6,525 340,240 33.33% Morris Corporate Center IV (Pharma Holdings GmbH) Parsippany, NJ 17 Technology Circle Blue Cross Blue Shield 5,533 5,198 456,304 40.00% Columbia, SC of South Carolina Inc. 275 South Valencia Ave. Bank of America NT & SA 5,680 6,830 637,503 25.00% Los Angeles, CA 100 Wood Hollow Drive Greenpoint Mortgage 3,451 3,648 124,600 30.00% Novato, CA Funding, Inc. 6555 Sierra Drive True North Communications 3,346 3,187 247,254 33.33% Irving, TX Inc. 101 East Erie Building Foote, Cone & Belding 2,968 2,968 203,376 30.00% Chicago, IL (Interpublic Group of Companies, Inc.) Higgins Development 88 90 19,089 Partners Lexington Corporate Properties Trust 27 28 2,100 5200 Metcalf Avenue Employers Reinsurance 3,057 3,057 320,198 25.00% Overland Park, KS Corporation 27027 Tourney Road Specialty Laboratories, Inc. 2,672 2,672 187,262 30.00% Santa Clarita, CA 8900 Freeport Pkwy. Nissan Motor Acceptance 3,372 3,608 268,445 30.00% Irving, TX Corporation/ (Nissan North America, Inc.) 15375 Memorial Drive Vastar Resources, Inc. 2,585 2,578 327,325 33.33% Houston, TX 10300 Kincaid Drive Bank One Indiana, N.A. 2,536 2,465 193,000 33.33% Fishers, IN 10300 Town Park Drive Veritas DGC, Inc. 2,335 2,436 218,641 30.00% Houston, TX 600 International Parkway First USA Management 2,234 2,191 33.33% 125,155 Lake Mary, FL Services, Inc. 550 International Parkway First USA Management 2,158 2,115 125,920 33.33% Lake Mary, FL Services, Inc. 10940 White Rock Road Progressive Casualty Insurance 2,055 2,103 158,582 30.00% 10929 Disk Drive Company Rancho Cordova, CA 2000 Eastman Drive Structural Dynamic 2,118 2,092 212,836 33.33% Milford, OH Research Corp. 3701 Corporate Drive Motorola, Inc. 2,035 2,035 119,829 33.33% Farmington Hills, MI 2050 Roanoke Road Chrysler Financial Company 2,392 2,655 130,290 30.00% Westlake, TX LLC
14 Lexington Corporate Properties Trust Supplemental Reporting Package Joint Venture Property Holdings 9/30/06
--------------------------------------------------------------------------------------------------------------------- YTD YTD Base Cash Base GAAP Revenue Revenue Square LXP Property Location Tenant (Guarantor) ($000) ($000) Footage Ownership --------------------------------------------------------------------------------------------------------------------- 1401 & 1501 Nolan Ryan Siemens Dematic Postal 1,789 1,900 236,547 25.00% Parkway Automation, L.P. Arlington, TX 9201 East Dry Creek Road The Shaw Group, Inc. 1,554 1,880 128,500 30.00% Centennial, CO 110, 120 & 130 E. Shore Capital One Services, Inc. 2,127 2,167 225,220 30.00% Dr. Richmond, VA 1475 Dunwoody Drive ING USA Annuity and Life 1,547 1,529 125,000 30.00% West Chester, PA Insurance Company 13775 McLearen Road Equant N.V. 1,398 1,520 125,293 30.00% Herndon, VA 70 Valley Stream Parkway IKON Office Solutions, Inc. 1,443 1,496 106,855 30.00% Malvern, PA 5150 220th Avenue Spacelabs Medical, Inc 1,444 1,462 106,944 25.00% Issaquah, WA (OSI Systems, Inc.) 9201 Stateline Employers Reinsurance 1,444 1,444 166,641 25.00% Kansas City, MO Corporation 22011 SE 51st Street Spacelabs Medical, Inc 1,320 1,250 95,600 25.00% Issaquah, WA (OSI Systems, Inc.) 1110 Bayfield Drive Honeywell International, 1,226 1,228 166,575 33.33% Colorado Springs, CO Inc. 3601 Converse Drive Verizon Wireless 1,150 1,218 160,500 25.00% Wilmington, NC 275 Technology Drive ANSYS, Inc. 930 1,015 107,872 30.00% Canonsburg, PA Renner Blvd. Voicestream PCS II 897 1,014 77,484 25.00% Lenexa, KS Corporation (T-Mobile USA, Inc.) East Goldstone Drive Voicestream PCS II 881 990 77,484 25.00% Meridian, ID Corporation (T-Mobile USA, Inc.) 1409 Centerpoint Blvd. Alstom Power, Inc. 1,086 1,226 84,404 32.30% Knoxville, TN 3201 Quail Springs Pkwy. AT& T Wireless Services, Inc. 1,009 1,023 103,500 40.00% Oklahoma City, OK Jordan Associates, Inc. 249 249 25,000 200 Lucent Lane Lucent Technologies, Inc. 1,519 1,232 124,944 30.00% Raleigh, NC 4455 American Way Bell South Mobility, Inc. 775 817 70,100 30.00% Baton Rouge, LA 3711 San Gabriel Voice Stream PCS II LLC 675 738 75,016 30.00% Mission, TX (T-Mobile USA, Inc.)
15 Lexington Corporate Properties Trust Supplemental Reporting Package Joint Venture Property Holdings 9/30/06
--------------------------------------------------------------------------------------------------------------------- YTD Base Cash YTD Revenue Base GAAP Square LXP Property Location Tenant (Guarantor) ($000) Revenue ($000) Footage Ownership --------------------------------------------------------------------------------------------------------------------- 4848 129th East Ave. Metris Companies, Inc. 980 980 101,100 32.30% Tulsa, OK 2310 Village Square AmeriCredit Corporation 1,091 915 85,000 32.30% Pkwy. Jacksonville, FL 4001 International Pkwy. Accor S.A. 2,239 2,423 138,443 25.00% Carrollton, TX (Motel 6 Operating L.P.) 350 Rhode Island Street California Culinary Academy, 1,869 1,796 103,838 30.00% San Francisco, CA LLC (Career Education Corp.) Starbucks Coffee Company 51 55 1,500 (Retail) Citibank -- -- 6,545 VACANT -- -- 13,461 2500 Patrick Henry Pkwy. Georgia Power Company 1,063 1,133 111,911 25.00% McDonough, GA First Park Drive Omnipoint Holdings, Inc. 890 1,024 78,610 25.00% Oakland, ME (T-Mobile USA, Inc.) 11707 Miracle Hills (i) Structure, LLC 875 875 86,800 32.30% Drive (Infocrossing, Omaha, NE Inc.) 2005 East Technology (i) Structure, LLC (Infocrossing, 846 846 60,000 32.30% Circle Inc.) Tempe, AZ 511 Luna Road Haggar Clothing Company 928 1,016 180,507 30.00% Dallas, TX (Texas Clothing Holding Corp.) (Haggar Corporation) 26410 McDonald Road Montgomery County 256 288 41,000 32.30% Houston, TX Management LLC ---------------------------------------------------------------------------- Subtotal Office $ 93,113 $ 95,230 7,816,143 ---------------------------------------------------------------------------- Industrial 101 Michelin Drive TNT Logistics North $ 2,327 $ 2,420 1,164,000 33.33% Laurens, SC America, Inc. (TPG N.V.) Philipp Parkway L'Oreal USA, Inc. 1,718 1,889 649,250 25.00% Streetsboro, OH 7111 Crabb Road TNT Logistics North 1,558 1,621 752,000 33.33% Temperance, MI America, Inc. (TPG N.V.) 6050 Dana Way Vacant(1) 611 535 338,700 30.00% Antioch, TN W.M Wright Company 508 508 338,700 3600 Army Post Rd. EDS Information Services 1,991 2,142 405,000 30.00% LLC Des Moines, IA (Electronic Data Systems Corporation) 2400 West Haven Avenue Michaels Stores Procurement 1,489 1,489 693,185 30.00% New Lenox, IL Company, Inc. (Michaels Stores, Inc.)
16 Lexington Corporate Properties Trust Supplemental Reporting Package Joint Venture Property Holdings 9/30/06
---------------------------------------------------------------------------------------------------------------------------- YTD YTD Base Cash Base GAAP Revenue Revenue Square LXP Property Location Tenant (Guarantor) ($000) ($000) Footage Ownership ---------------------------------------------------------------------------------------------------------------------------- 43955 Plymouth Oaks Tower Automotive Products 1,414 1,414 290,133 30.00% Boulevard Company Plymouth, MI (Tower Automotive, Inc.) 121 Technology Drive Heidelberg Web Systems, 1,672 1,387 500,500 33.33% Durham, NH Inc. 3225 Meridian Parkway Hagemeyer Foods, Inc. 1,112 1,206 201,845 30.00% Weston, FL 291 Park Center Drive Kraft Foods North 1,128 1,136 344,700 33.33% Winchester, VA America, Inc. 1109 Commerce Boulevard Linens-n-Things, Inc. 944 938 262,644 30.00% Logan Township, NJ 3245 Meridian Parkway Circuit City Stores, Inc. 785 877 230,600 30.00% Weston, FL 359 Gateway Drive TI Group Automotive Systems, 900 900 133,221 32.30% Livonia, GA LLC 900 Industrial Boulevard Dana Corporation 334 334 172,800 32.30% Crossville, TN 736 Addison Road Corning, Inc. 371 371 408,000 30.00% Erwin, NY 2935 Van Vactor Way Bay Valley Foods, LLC 197 208 300,500 32.30% Plymouth, IN ---------------------------------------------------------------------------- Subtotal Industrial $ 19,059 $ 19,375 7,185,778 ---------------------------------------------------------------------------- Retail/ Other ------------- 12080 Carmel Mountain Road Kmart Corporation $ 271 $ 735 107,210 30.00% San Diego, CA 5350 Leavitt Road Kmart Corporation 602 547 193,193 30.00% Lorain, OH 255 Northgate Drive Kmart Corporation 425 386 107,489 30.00% Manteca, CA 21082 Pioneer Plaza Drive Kmart Corporation 400 363 120,727 30.00% Watertown, NY 97 Seneca Trail Kmart Corporation 281 232 90,933 30.00% Fairlea, WV 1150 West Carl Sandburg Drive Kmart Corporation 239 217 94,970 30.00% Galesburg, IL 11411 N. Kelly Avenue American Golf Corporation 176 176 13,924 32.30% Oklahoma City, OK 25500 State Hwy 249 Parkway Chevrolet, Inc. 125 152 77,076 32.30% Tomball, TX 77375 ---------------------------------------------------------------------------- Subtotal Retail/ Other $ 2,519 $ 2,808 805,522 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Grand Total $ 114,691 $ 117,413 15,807,443 ----------------------------------------------------------------------------
(1) Original tenant rejected the lease in bankruptcy. GAAP rent does not reflect accelerated amortization of $4,704. 17 Lexington Corporate Properties Trust Supplemental Reporting Package Properties by Location 9/30/06
Historical 9-Month Ended September 30, 2006(1) --------------------------- No. of Number of Percent Square Base Rent Percent of Locations Location Properties(3) Leased(4) Feet(2) ($000's) Base Rent ------------- ------------------ ------------ ------------ ------------ ----------------------------- 1 Texas 26 98.3% 5,398,116 $ 34,439 18.9% 2 South Carolina 10 100.0 3,806,492 14,990 8.2 3 Pennsylvania 12 99.9 2,472,403 13,227 7.3 4 Ohio 11 100.0 3,738,253 11,651 6.4 5 California 13 99.5 2,571,029 10,518 5.8 6 Florida 12 100.0 1,620,114 9,306 5.1 7 Michigan 13 88.0 2,466,397 9,076 5.0 8 Virginia 8 100.0 1,399,643 8,458 4.6 9 Georgia 5 100.0 733,599 7,475 4.1 10 Arizona 8 93.4 749,484 6,480 3.6 11 Kentucky 6 97.2 1,800,077 5,554 3.1 12 Massachusetts 4 100.0 574,301 5,544 3.0 13 Tennessee 9 87.0 2,876,650 4,997 2.8 14 New Jersey 4 100.0 760,395 4,807 2.7 15 Utah 1 100.0 295,000 4,741 2.6 16 Illinois 6 100.0 1,431,935 4,165 2.3 17 Indiana 4 100.0 724,503 3,903 2.1 18 Oregon 4 100.0 416,709 2,910 1.6 19 Iowa 4 100.0 1,073,648 2,856 1.6 20 North Carolina 5 100.0 800,109 2,392 1.3 21 Washington 4 100.0 305,849 1,737 1.0 22 Connecticut 2 100.0 197,764 1,672 0.9 23 Colorado 3 100.0 363,240 1,622 0.9 24 The Netherlands 1 100.0 122,450 1,569 0.9 25 Oklahoma 4 100.0 286,647 1,087 0.6 26 Kansas 2 100.0 397,682 1,018 0.6 27 Alabama 1 100.0 595,346 790 0.4 28 Hawaii 1 100.0 85,610 729 0.4 29 Mississippi 1 100.0 268,100 631 0.3 30 Louisiana 2 100.0 149,186 574 0.3 31 New Hampshire 1 100.0 500,500 462 0.3 32 Minnesota 1 100.0 18,620 419 0.2 33 Missouri 1 100.0 166,641 361 0.2 34 Wisconsin 1 100.0 76,164 347 0.2 35 Maryland 2 100.0 159,019 319 0.2 36 Nebraska 1 100.0 86,800 283 0.2 37 Maine 1 100.0 78,610 256 0.1 38 Idaho 1 100.0 77,484 248 0.1 39 New York 2 100.0 528,727 220 0.1 40 West Virginia 1 100.0 90,933 70 -- --------------------------------------------------------------------------------------- Total 198 97.8% 40,264,229 $ 181,903 100.00% ---------------------------------------------------------------------------------------
(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 September 30, 2006. (3) Includes properties owned during the nine months ended September 30, 2006. (4) As of September 30, 2006. 18 Lexington Corporate Properties Trust Supplemental Reporting Package Lease Rollover Schedule by Property Type - Cash Basis 9/30/06
Office Industrial Retail/ Other ------------------------------------------------------------------------------------------------------------------------------------ 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 270,700 $ 2,386 $ 8.82 608,237 $ 3,610 $ 5.93 -- $ -- $ -- 2007 186,504 1,995 13.96 1,998,942 11,127 5.57 -- -- -- 2008 444,270 6,240 14.49 -- -- -- 215,418 1,788 8.30 2009 1,837,317 17,142 15.78 831,966 2,015 3.40 205,436 1,943 9.46 2010 2,135,992 17,670 13.91 675,655 2,436 3.61 -- -- -- 2011 1,002,689 9,943 19.82 1,046,519 536 4.67 247,249 1,659 6.71 2012 1,869,411 17,840 12.39 4,203,134 9,541 4.29 -- -- -- 2013 1,659,473 20,509 15.44 79,086 483 6.11 -- -- -- 2014 1,864,411 17,547 15.36 965,160 3,522 3.65 267,337 496 1.85 2015 2,267,937 20,814 13.92 764,370 4,504 6.64 76,164 469 6.15 2016 738, 176 6,460 15.95 1,408,158 5,091 4.38 -- -- -- 2017 128,500 694 17.99 806,439 2,754 4.32 51,682 115 2.23 2018 556,288 5,504 15.85 -- -- -- 806,672 1,175 2.37 2019 652,496 5,197 17.91 2,183,145 5,519 3.50 -- -- -- 2020 294,583 4,238 18.36 666,037 4,184 7.51 -- -- -- 2021 157,511 4,234 26.88 1,620,504 6,106 4.21 -- -- -- 2022 -- -- -- -- -- -- -- -- -- 2023 -- -- -- -- -- -- -- -- -- 2024 187,262 1,069 19.02 693,185 568 2.73 -- -- -- 2025 146,800 734 15.63 2,140,254 9,802 3.20 -- -- -- 2026 -- -- -- 500,500 427 2.56 77,076 577 23.16 Weighted Average $ 15.44 $ 4.40 $ 5.22 ======= ======== =======
(1) Includes proportionate share of joint venture investments and its net of estimated expenses. 19 Lexington Corporate Properties Trust Supplemental Reporting Package Lease Rollover Schedule - GAAP Basis 9/30/06 ($000's)
Percentage of Total Total Number of Annualized Base Annualized Year Leases Expiring Rent (1) Base Rent ----------------------------------------------------------------------------------------------------------- 2006 - remaining 5 $ 3,692 1.5% 2007 7 12,593 5.3 2008 7 7,509 3.1 2009 17 22,449 9.4 2010 18 18,648 7.8 2011 16 15,889 6.6 2012 23 25,946 10.8 2013 14 21,071 8.8 2014 19 22,485 9.4 2015 20 27,748 11.6 2016 13 11,149 4.7 2017 6 3,668 1.5 2018 11 7,404 3.1 2019 10 10,440 4.4 2020 6 7,974 3.3 2021 5 8,087 3.4 2022 -- -- -- 2023 -- -- -- 2024 2 1,665 0.7 2025 8 9,894 4.1 2026 2 1,098 0.5 --------------------------------------------------------------------------------- Total 209 $ 239,409 100.0% =================================================================================
(1) Includes proportionate share of joint venture investments. 20 Lexington Corporate Properties Trust Supplemental Reporting Package Mortgages and Notes Payable 9/30/06 ($000's)
----------------------------------------------------------------------------------------------------------------------- Current Estimated Debt Interest Annual Balloon Property - Fixed Rate Balance Rate Maturity Debt Service(d) Payment ----------------------------------------------------------------------------------------------------------------------- Warren, OH(a)(b) $ 8,629 7.000% Oct-07 $ 6,160 $ -- Bristol, PA 9,423 7.400 Feb-08 831 9,262 Decatur, GA 6,307 6.720 Jun-08 579 6,049 Palm Beach Gardens, FL 10,812 7.010 Jun-08 970 10,418 Canton, OH 3,108 7.150 Aug-08 313 2,936 Spartanburg, SC 2,581 7.150 Aug-08 260 2,438 Florence, SC 8,927 7.500 Feb-09 869 8,443 Canton, OH 834 9.490 Feb-09 388 -- Baton Rouge, LA 1,691 7.375 Mar-09 208 1,478 Livonia, MI 10,649 7.800 Apr-09 992 10,236 Bristol, PA 5,652 7.250 Apr-09 571 5,228 Henderson, NC 4,145 7.390 May-09 417 3,854 Westland, MI 1,751 10.500 Sep-09 683 -- Salt Lake City, UT 7,716 7.610 Oct-09 2,901 -- High Point, NC 8,426 5.750 Oct-09 695 7,741 Richmond, VA 16,004 8.100 Feb-10 1,511 15,257 Hampton, VA 7,093 8.270 Apr-10 677 6,758 Hampton, VA 4,350 8.260 Apr-10 415 4,144 Tampa, FL 8,079 6.930 Aug-10 674 7,603 Tampa, FL 5,842 6.880 Aug-10 485 5,495 Herndon, VA 18,310 8.180 Dec-10 1,723 17,301 Tucson, AZ 2,318 7.500 Jan-11 226 2,076 Valley Forge, PA 12,370 7.120 Feb-11 1,166 10,927 Renswoude, NA(f) 34,353 5.305 Apr-11 2,514 30,994 Glendale, AZ 14,322 7.400 Apr-11 1,258 13,365 Dallas, TX 30,582 5.126 May-11 1,589 30,582 Farmington Hills, MI 20,437 5.126 May-11 1,343 19,020 Wallingford, CT 3,433 4.926 May-11 221 3,187 Auburn Hills, MI 6,798 7.010 Jun-11 637 5,918 Plymouth, MI 4,527 7.960 Jul-11 463 3,949 Newport, OR 6,676 5.030 Aug-11 470 5,980 Greenville, SC 13,245 4.415 Jan-12 841 11,806 New Kingston, PA 6,949 7.790 Jan-12 678 6,101 Mechanicsburg, PA 5,130 7.780 Jan-12 500 4,503 New Kingston, PA 3,314 7.780 Jan-12 323 2,906 Lake Forest, CA 10,517 7.260 Feb-12 901 9,708 Memphis, TN 17,732 5.247 May-12 1,181 16,222 Lakewood, CO 8,646 5.097 May-12 566 7,890 Groveport, OH 7,578 6.030 Oct-12 563 6,860 San Antonio, TX 29,259 6.080 Oct-12 2,260 26,025 Foxboro, MA(b) 16,003 6.000 Jan-13 2,817 -- Fort Mill, SC 11,113 6.000 Jan-13 839 9,904 Waterloo, IA 5,982 5.610 Feb-13 672 3,505 Atlanta, GA 44,997 5.268 May-13 3,004 40,356 Houston, TX 17,564 5.218 May-13 1,166 15,737 Southington, CT 13,703 5.018 May-13 890 12,228 Tempe, AZ 13,573 5.148 May-13 894 12,144 Indianapolis, IN 9,586 5.168 May-13 633 8,580 Fort Meyers, FL 8,912 5.268 May-13 476 8,550 Chelmsford, MA 6,969 5.118 May-13 458 6,231 Lancaster, CA (first) 10,174 7.020 Sep-13 900 8,637 Lancaster, CA (second) 8,583 5.920 Sep-13 642 7,518 Knoxville, TN 5,111 5.950 Sep-13 381 4,496 Phoenix, AZ 19,223 6.270 Sep-13 1,527 16,490
21 Lexington Corporate Properties Trust Supplemental Reporting Package Mortgages and Notes Payable 9/30/06 ($000's)
----------------------------------------------------------------------------------------------------------------------- Current Estimated Debt Interest Annual Balloon Property - Fixed Rate Balance Rate Maturity Debt Service(d) Payment ----------------------------------------------------------------------------------------------------------------------- Foxboro, MA(b) 20,452 6.000 Jan-14 3,270 -- Moody, AL 7,395 4.978 Jan-14 493 6,350 Mechanicsburg, PA 13,199 5.730 Mar-14 1,045 10,538 Redmond, OR 9,786 5.616 Apr-14 697 8,484 Clive, IA 5,888 5.139 May-14 387 5,151 Fort Mill, SC 20,300 5.373 May-14 1,106 18,311 Philadelphia, PA(e) 49,000 5.060 Jul-14 2,617 43,547 Jackson, TN 10,119 5.930 Jul-14 743 8,820 Eau Claire, WI 1,804 8.000 Jul-14 313 -- Carrollton, TX 14,190 5.530 Jan-15 993 12,022 Franklin, NC 1,634 8.500 Mar-15 271 -- Kalamazoo, MI 17,534 5.411 May-15 1,189 15,087 Houston, TX 16,884 5.160 May-15 1,114 14,408 Houston, TX 13,183 5.210 May-15 874 11,265 Fishers, IN 13,110 5.160 May-15 865 11,188 San Antonio, TX 13,003 5.340 May-15 875 11,149 Los Angeles, CA 11,437 5.110 May-15 750 9,760 Atlanta, GA 11,325 5.260 May-15 604 10,502 Richmond, VA 10,552 5.310 May-15 708 9,055 Harrisburg, PA 9,129 5.110 May-15 599 7,780 Elizabethtown, KY(g) 16,401 4.990 Jul-15 1,073 13,801 Hopkinsville, KY(g) 9,608 4.990 Jul-15 628 8,085 Dry Ridge, KY(g) 7,769 4.990 Jul-15 508 6,537 Owensboro, KY(g) 6,922 4.990 Jul-15 453 5,825 Elizabethtown, KY(g) 3,114 4.990 Jul-15 204 2,620 Southborough, MA 1,794 7.500 Sep-15 275 -- Houston, TX(b) 64,380 6.250 Sep-15 8,147 18,318 Houston, TX(b) 25,987 6.250 Sep-15 3,101 6,985 Sugar Land, TX(b) 16,869 6.250 Sep-15 2,237 6,286 Houston, TX(b) 7,382 6.250 Sep-15 891 2,222 Temple, TX 8,911 6.090 Jan-16 668 7,446 Danville, IL 6,323 9.000 Jan-16 692 4,578 Bremerton, WA 6,587 6.090 Apr-16 494 5,465 Dubuque, IA 10,781 5.402 Jun-17 733 8,725 Westmont, IL 15,310 6.210 Mar-18 1,292 9,662 Boca Raton, FL 20,400 6.470 Feb-20 1,338 18,383 Houston, TX 9,913 5.640 Dec-20 692 7,018 Wall Township, NJ(b) 29,596 6.250 Jan-21 2,013 -- Dillon, SC 23,478 5.974 Feb-22 1,832 13,269 Chester, SC 13,543 5.380 Aug-25 1,144 362 ---------- ----- -------- -------- $ 1,155,000 5.967% $ 103,249 $ 856,040 ---------- ----- -------- -------- Corporate Credit Facility (C) $ -- -- June-08 $ -- $ -- ----------- ----- ---------- -------- Total $ 1,155,000 5.967% $ 103,249 $ 856,040 ========== ====== ========= ========
22 Lexington Corporate Properties Trust Supplemental Reporting Package Mortgages Payable 9/30/06 (000's) (a) Included in discontinued operations. (b) Debt balances based upon imputed interest rates. (c) Floating rate debt 30/60/90 day LIBOR plus 120 to 170 bps. (d) Remaining payments for debt with less than 12 months to maturity. (e) The Company has an 80.5% interest in the property securing the mortgage. (f) The Company has a 90.0% interest in the property securing the mortgage. (g) Debt balances are net of mortgage investment made by the Company. 23
Lexington Corporate Properties Trust Supplemental Reporting Package Mortgages Payable 9/30/06 (000's) ---------------------------------------------------------------------------------------------------------------------------------- Current LXP Estimated Debt Proportionate Interest Annual Balloon Joint Venture Property Balance Share Rate Maturity Debt Service Payment ---------------------------------------------------------------------------------------------------------------------------------- Santa Clarita, CA $ 28,200 $ 8,460 4.750 Oct-09 $ 1,340 $ 28,200 Columbia, SC 23,614 9,446 7.850 Oct-09 2,196 22,586 Houston, TX 19,968 6,649 7.580 Oct-09 2,032 18,229 Fishers, IN 14,260 4,749 8.190 Apr-10 1,499 12,960 Lorain, OH(1) 2,740 822 6.000 Jul-10 903 -- Manteca, CA(1) 1,936 581 6.000 Jul-10 638 -- Watertown, NY(1) 1,820 546 6.000 Jul-10 600 -- Fairlea, WV(1) 1,279 384 6.000 Jul-10 421 -- San Diego, CA(1) 1,234 370 6.000 Jul-10 406 -- Galesburg, IL(1) 1,086 326 6.000 Jul-10 358 -- Irving, TX 25,811 8,595 8.160 Oct-10 2,432 24,454 Lake Mary, FL 12,843 4,277 7.880 Oct-10 1,181 12,118 Lake Mary, FL 12,791 4,259 7.880 Oct-10 1,178 12,082 Parsippany, NJ 39,707 13,222 7.350 Mar-11 3,472 37,047 Novato, CA 22,002 6,601 5.750 Jul-11 1,600 20,307 Winchester, VA 10,449 3,480 7.330 Aug-11 908 9,675 Milford, OH 15,997 5,327 8.170 Feb-12 1,783 12,686 Des Moines, IA 22,761 6,828 5.147 May-12 1,188 22,153 Fort Worth, TX 19,537 5,861 5.097 May-12 1,280 17,823 Raleigh, NC 12,900 3,870 4.947 May-12 647 12,543 Farmington Hills, MI 20,340 6,779 5.420 Sep-12 1,500 17,724 Laurens, SC 16,677 5,558 6.000 Sep-12 1,396 14,022 Temperance, MI 11,179 3,726 6.000 Sep-12 936 9,400 Baton Rouge, LA 6,716 2,015 4.900 Oct-12 443 5,943 Plymouth, MI 12,084 3,625 6.220 Dec-12 1,026 10,026 Colorado Springs, CO 11,470 3,823 6.250 Dec-12 887 10,272 Centennial, CO 15,353 4,606 6.150 Feb-13 1,177 13,555 Los Angeles, CA 80,182 20,046 5.330 May-13 4,660 73,071 Dallas, TX 40,700 12,210 5.218 May-13 2,702 36,453 Malvern, PA 12,912 3,874 5.530 Jan-14 916 11,236 Arlington, TX 21,291 5,323 5.810 Feb-14 1,551 18,588 New Lenox, IL 17,400 5,220 5.510 Feb-14 972 17,400 Logan Township, NJ 7,690 2,307 4.760 Apr-14 416 6,784 Rancho Cordova, CA(1) 18,285 5,486 6.000 Sept-14 1,457 14,646 Weston, FL 10,597 3,179 5.420 Nov-14 733 9,066 Issaquah, WA 32,800 8,200 5.001 Dec-14 1,663 30,388 Canonsburg, PA 9,095 2,729 5.377 Dec-14 489 9,095 Chicago, IL 29,900 8,970 5.105 Jan-15 1,548 29,900 Herndon, VA 12,113 3,634 5.920 Apr-15 888 10,359 Richmond, VA 19,800 5,940 5.110 May-15 1,026 18,321 Oklahoma City, OK 14,749 5,900 5.240 May-15 784 13,673 Knoxville, TN 7,759 2,506 5.310 May-15 520 6,658 Tulsa, OK 7,645 2,469 5.060 May-15 499 6,517 Jacksonville, FL 5,779 1,867 5.110 May-15 379 4,927 McDonough, GA 12,675 3,169 5.212 Jun-15 670 11,349 Mission, TX 6,366 1,910 5.780 Jun-15 462 5,371 Carrollton, TX 20,800 5,200 5.274 Jul-15 1,112 18,677 Houston, TX 23,910 7,173 5.410 Oct-15 1,311 21,846 Omaha, NE 8,946 2,890 5.610 Apr-16 621 7,560 Tempe, AZ 8,449 2,729 5.610 Apr-16 586 7,140 Dallas, TX 18,363 5,509 6.100 Jul-16 1,136 18,363 Plymouth, IN 6,669 2,154 6.315 Sept-16 497 5,723 Wilmington, NC 13,000 3,250 5.190 Mar-17 684 11,580 Weston, FL 7,321 2,196 5.520 Nov-17 512 5,758 Lorain, OH(1) 1,460 438 6.000 Jul-18 108 -- Manteca, CA(1) 1,031 309 6.000 Jul-18 77 -- Watertown, NY(1) 970 291 6.000 Jul-18 72 -- Fairlea, WV(1) 681 204 6.000 Jul-18 51 -- San Diego, CA(1) 657 197 6.000 Jul-18 49 -- Galesburg, IL(1) 579 174 6.000 Jul-18 43 -- Erwin, NY 9,500 2,850 5.910 Oct-18 728 6,624 Overland Park, KS 37,620 9,405 5.830 May-19 2,224 31,819
24
Lexington Corporate Properties Trust Supplemental Reporting Package Mortgages Payable 9/30/06 (000's) ---------------------------------------------------------------------------------------------------------------------------------- Current LXP Estimated Debt Proportionate Interest Annual Balloon Joint Venture Property Balance Share Rate Maturity Debt Service Payment ---------------------------------------------------------------------------------------------------------------------------------- Kansas City, MO 17,950 4,488 5.830 May-19 1,061 15,182 West Chester, PA 10,279 3,084 6.750 Jul-19 1,204 -- Meridian, ID 10,192 2,548 6.010 Aug-19 753 7,658 Streetsboro, OH 20,200 5,050 5.285 Sept-19 1,082 16,338 Houston, TX 7,500 2,423 6.507 Nov-19 495 6,692 San Francisco, CA 22,080 6,624 5.580 Nov-19 1,249 18,002 Lenexa, KS 10,258 2,565 6.270 Dec-19 774 7,755 Oakland, ME 10,378 2,595 5.930 Oct-20 750 7,660 Livonia, GA 9,945 3,212 5.460 Dec-20 741 5,895 Durham, NH 19,182 6,393 6.730 Mar-21 1,309 -- Antioch, TN 13,967 4,190 7.940 Oct-21 1,580 774 -------- --------- ---------- --------- --------- $ 1,064,379 $ 317,865 5.941% $ 76,571 $ 898,653 ========= ========= =========== ========= =========
1. Debt balances based upon imputed rates. 25 Lexington Corporate Properties Trust Supplemental Reporting Package Debt Maturity Schedule 9/30/06 ($000's)
Consolidated properties ------------------------------------------------------------------------------------------------------------ Scheduled Balloon Balloon Weighted Amortization Payments Average Interest Rate ------------ -------- --------------------- 2006 - remaining $ 6,252 $ -- --% 2007 35,025 -- -- 2008 30,116 31,103 7.09 2009 31,973 36,980 7.16 2010 30,827 56,558 7.88 ------- -------- ----------- $134,193 $ 124,641 7.47% ======= ======== =========== Joint venture properties - LXP proportionate share ------------------------------------------------------------------------------------------------------------ Scheduled Balloon Balloon Weighted Amortization Payments Average Interest Rate ------------ -------- --------------------- 2006 - remaining $ 714 $ -- -- 2007 4,153 -- -- 2008 4,572 -- -- 2009 5,254 23,570 6.67% 2010 5,193 20,538 8.06 --------- --------- ----------- $ 19,886 $ 44,108 7.31% ========= ========= ===========
26 Lexington Corporate Properties Trust Supplemental Reporting Package Revenue By Tenant Industry 9/30/06 -------------------------------------------------------------------------------- Percentage of Historical Tenant Industry Base Rent (1) -------------------------------------------------------------------------------- Energy 13.4% Finance/Insurance 12.7 Technology 10.9 Automotive 9.3 Healthcare 5.6 Telecommunications 5.6 Transportation/Logistics 5.4 Retail-Department/ Discount Store 5.1 Consumer Products 4.8 Media/Advertising 4.2 Food 3.7 Construction Materials 3.7 Printing/Production 3.6 Retail-Specialty 2.8 Aerospace/Defense 2.2 Service 2.2 Retail-Electronics 1.6 Apparel 1.1 Security 0.9 Health/Fitness 0.4 Real Estate 0.4 Paper/Containers & Packaging 0.4 ----- 100.0% ====== (1) Includes proportionate share of joint venture investments and rental revenue recognized from properties sold through date of sale for the nine months ended September 30, 2006. 27 Lexington Corporate Properties Trust Supplemental Reporting Package Revenue by MSA 9/30/06 Percent of Base Rent for the 9 Months Ended 9/30/06 -------------------------------------------------------------------------------- 1 Houston-TX 9.9% 2 Dallas-Fort Worth-TX 6.2% 3 Philadelphia-Wilmington-PA 4.8% 4 Los Angeles-Riverside-Orange County-CA 4.3% 5 Atlanta-GA 3.9% 6 Detroit-MI 3.9% 7 Youngstown-Warren-OH 3.7% 8 Phoenix-Mesa-AZ 3.4% 9 Boston-MA 3.3% 10 Charlotte-NC 2.7% 11 Salt Lake City-UT 2.6% 12 Harrisburg-PA 2.6% 13 New York-Northern New Jersey 2.4% 14 Richmond-VA 2.3% 15 Indianapolis-IN 2.1% 16 San Antonio-TX 2.1% 17 Chicago-IL 1.9% 18 West Palm Beach-Boca Raton-FL 1.8% 19 Memphis-TN 1.6% 20 Washington-Baltimore-DC-MD 1.4% 21 Elizabethtown, KY 1.4% 22 Columbia-SC 1.3% 23 Dillon-SC 1.3% 24 Columbus-OH 1.2% 25 Kalamazoo-Battle Creek-MI 1.1% 26 Cincinnati-OH 1.0% 27 Greenville-Spartanburg-SC 1.0% 28 Tampa-St. Petersburg-FL 1.0% 29 Seattle-WA 1.0% 30 San Francisco-CA 0.9% 31 Chester-SC 0.9% 32 Renswoude, Netherland 0.9% 33 Norfolk-Virginia Beach-Newport News-VA 0.8% 34 Orlando-FL 0.8% 35 Kansas City-MO-KS 0.8% 36 Florence-SC 0.7% 37 Des Moines-IA 0.7% 38 Hartford-CT 0.7% 39 Denver-CO 0.7% 40 Cleveland-OH 0.7% 41 Killeen-Temple-TX 0.6% 42 Redmond-OR 0.6% 43 Clarksville-TN 0.6% 44 Jackson-TN 0.6% 45 Knoxville-TN 0.6% 46 Dubuque-IA 0.5% 47 Canton-OH 0.5% 28 Lexington Corporate Properties Trust Supplemental Reporting Package Revenue by MSA 9/30/06 Percent of Base Rent for the 9 Months Ended 9/30/06 -------------------------------------------------------------------------------- 48 Greensboro-Winston-Salem-NC 0.4% 49 Laurens-SC 0.4% 50 Birmingham-AL 0.4% 51 Fort Meyers-FL 0.4% 52 Klamath Falls-OR 0.4% 53 Waterloo-Cedar Falls-IA 0.4% 54 Newport-OR 0.4% 55 Jacksonville-FL 0.4% 56 Owensboro-KY 0.4% 57 Honolulu-HI 0.4% 58 Danville-IL 0.4% 59 Sacramento-CA 0.3% 60 Miami-Fort Lauderdale-FL 0.3% 61 Henderson-NC 0.3% 62 Ocala-FL 0.3% 63 Baton Rouge-LA 0.3% 64 Oklahoma, OK 0.3% 65 Tulsa-OK 0.3% 66 New Haven-CT 0.2% 67 Minneapolis-St. Paul-MN 0.2% 68 Colorado Springs-CO 0.2% 69 Winchester-VA 0.2% 70 Raleigh-Durham-Chapel Hill-NC 0.2% 71 Eau Claire-WI 0.2% 72 Tucson-AZ 0.2% 73 Nashville-TN 0.2% 74 Wilmington-NC 0.2% 75 Pittsburgh-PA 0.2% 76 Franklin-NC 0.2% 77 Lavonia-GA 0.2% 78 Omaha-NE-IA 0.2% 79 Stockton-Lodi-CA 0.2% 80 Oakland-ME 0.1% 81 Gordonsville, TN 0.1% 82 Clackamas-OR 0.1% 83 Boise City, ID 0.1% 84 McAllen-Edinburg-Mission-TX 0.1% 85 San Diego-CA 0.1% 86 Erwin, NY 0.1% 87 Watertown-NY 0.1% 88 Crossville, TN 0.1% 89 Lewisburg-WV - 90 Plymouth, IN - 91 Galesburg-IL - -------------------------------------------------------------------------------- Totals 100.00% -------------------------------------------------------------------------------- 29 Lexington Corporate Properties Trust Supplemental Reporting Package Other Revenue Data 9/30/06 Revenue by Property Type Percentage ---------------------------------------------------------- Office 66.3% Industrial 29.8 Retail 3.9 ------ 100.0% ====== Revenue by Credit Rating(B) Investment Grade 39.3% Non-Investment Grade 25.8 Unrated 34.9 ---- 100.0% ======
Percentage of Base Rent for the Number of 9 Months Ended Top 15 Tenants/Guarantors Properties(B) Property Type 9/30/06(A) ------------------------------------------------------------------------------------------------------------------------------ Baker Hughes, Inc. 4 Office (3)/Industrial (1) 5.4% Dana Corporation 9 Industrial 4.9 Kmart Corporation 7 Industrial(1)/Retail (6) 4.1 Wells Fargo Home Mortgage, Inc. 2 Office 2.7 Northwest Pipeline Corp. 1 Office 2.6 Internet Security Systems, Inc. 1 Office 2.5 Invensys Systems, Inc. (Siebe, Inc.) 2 Office 2.4 Exel Logistics, Inc.(NFC plc) 4 Industrial 2.0 Nextel Finance Company 4 Office 1.9 Morgan, Lewis & Bockius LLP 1 Office 1.8 Owens Corning 4 Industrial 1.8 Michaels Stores, Inc. 2 Industrial 1.6 Harcourt Brace 1 Industrial 1.4 James Hardie Building Products, Inc. 1 Industrial 1.4 (James Hardie Industries N.V.) TRW, Inc. (Experian Information Solutions, Inc.) 1 Office 1.4 - --- 44 37.9% == ====
(A) Includes proportionate share of joint venture investments and rental revenue recognized from properties sold through the date of sale. (B) As of September 30, 2006. 30