8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, DC  20549

FORM 8-K

Current Report Pursuant

to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): July 11, 2007

LEXINGTON REALTY TRUST
(Exact Name of Registrant as Specified in Its Charter)
Maryland	1-12386	13-3717318
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)

THE LEXINGTON MASTER LIMITED PARTNERSHIP
(Exact Name of Registrant as Specified in Its Charter)
Delaware	0-50268	11-3636084
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)

One Penn Plaza, Suite 4015, New York, New York 10119-4015

(Address of Principal Executive Offices) (Zip Code)

(212) 692-7200

(Registrant's Telephone Number, Including Area Code)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions

___           Written communications pursuant to Rule 425 under the Securities Act (17 CFT|R 230.425)

___           Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

___ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

___ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01. Entry into a Material Definitive Agreement.

On July 11, 2007, The Lexington Master Limited Partnership (the “Partnership”) entered into a Second Amended and Restated Limited Liability Company Agreement (the “Operating Agreement”) of Lex-Win Acquisition LLC (“Lex-Win”), among the Partnership, VII Wells Holdings, L.L.C. (“VII Wells”), WRT Realty, L.P. (“WRT”), Square Mile Value LLC (“Square Mile”) and Stark Wells Holdings, LLC (“Stark”). The purpose of amending and restating the Operating Agreement was to admit Square Mile and Star as members of Lex-Win.  As a result of this admission, the Partnership’s interest in Lex-Win was reduced to 28% of the outstanding membership interests.

The foregoing description is qualified in its entirety by reference to the Operating Agreement, which will be attached as an exhibit to the Trust’s and the Partnership’s Quarterly Reports on Form 10-Q for the period ended September 30, 2007, which the Trust and the Partnership intend to file in November 2007.

Item 8.01.                                Other Events.

On July 12, 2007, the Trust announced that Lex-Win extended the expiration date of its previously announced tender offer for up to 45,000,000 shares of Wells Real Estate Investment Trust, Inc. at a price of $9.30 per share.  The tender offer has been extended so that it will now expire at 5:00 p.m. New York time on July 20, 2007 unless the offer is further extended.

The foregoing description is qualified in its entirety by reference to the press release issued July 12, 2007, which is attached as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01.                                Financial Statements and Exhibits.

(d)         Exhibits

99.1 Press Release dated July 12, 2007

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Lexington Realty Trust
Date: July 16, 2007	By:	/s/ T. Wilson Eglin
		T. Wilson Eglin
		Chief Executive Officer

Exhibit Index

99.1 Press Release dated July 12, 2007

EX-99.1

Exhibit 99.1

Contact: Beverly Bergman of Winthrop Realty Trust, +1-617-570-4614; or

Carol Merriman, VP Investor Relations & Corporate Development of Lexington Realty Trust,

+1-212-692-7264, cmerriman@lxp.com

FOR IMMEDIATE RELEASE

July 12, 2007

EXPIRATION DATE OF TENDER OFFER FOR COMMON SHARES IN WELLS REAL

ESTATE INVESTMENT TRUST, INC. EXTENDED TO JULY 20, 2007

New York, July 12 – Lex-Win Acquisition LLC, a joint venture among Lexington Realty Trust (NYSE:LXP), Winthrop Realty Trust (NYSE:FUR), an affiliate of Starwood Capital Group Global, L.L.C. and two additional investors, today announced that it is extending the expiration date of its tender offer for up to 45,000,000 shares of common stock in Wells Real Estate Investment Trust, Inc. (WLRE) at a price of $9.30 per share.  The offer has been extended so that it will now expire at 5:00 p.m., New York time on July 20, 2007.

Lex-Win recently has been informed that numerous Wells stockholders had not until recently received the information relating to Lex-Win’s offer including, most specifically, individuals whose shares are held in custodial accounts such as IRA or 401k accounts.  The extension of the offer is being made to afford all Wells stockholders an opportunity to review the offer materials and make an informed decision.  At the close of business on July 12, 2007, Lex-Win had received tenders for 2,787,444shares.

Lex-Win’s offer is being made subject to the terms and conditions set forth in, and solely through its Offer to Purchase, dated May 25, 2007, as amended by Supplement No. 1 thereto dated June 12, 2007, and the related Letter of Transmittal and any amendments or supplements thereto, and is being made to all holders of shares.  Copies of Lex-Win’s Offer to Purchase, the related Letter of Transmittal and other tender offer materials may be obtained from Lex-Win’s information agent for the offer, MacKenzie Partners, Inc., (212) 929-5500 (call collect), or Toll-Free: (800) 322-2885.

This press release is neither an offer to purchase nor a solicitation of an offer to sell shares.  The offer is made solely by the Offer to Purchase, dated May 25, 2007, as amended by Supplement No. 1 thereto dated June 12, 2007, and the related Letter of Transmittal and any amendments or supplements thereto, and is being made to all holders of shares.  The offer is not being made to (nor will tenders be accepted from or on behalf of) holders of shares in any jurisdiction in which the making of the offer or the acceptance thereof would not be in compliance with the laws of such jurisdiction.