8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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): August 7, 2013

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 No.)

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 obligation of the registrant under any of the following provisions (see General Instruction A.2.):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 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 2.02. Results of Operations and Financial Conditions.

On August 7, 2013, we issued a press release announcing our financial results for the quarter ended June 30, 2013. A copy of the press release is furnished herewith as part of Exhibit 99.1.

The information furnished pursuant to this “Item 2.02 - Results of Operations and Financial Conditions”, including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, which we refer to as the Exchange Act, or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing made by us under the Exchange Act or Securities Act of 1933, as amended, which we refer to as the Securities Act, regardless of any general incorporation language in any such filing, except as shall be expressly set forth by specific reference in such a filing.

Item 7.01. Regulation FD Disclosure.

On August 7, 2013, we made available supplemental information, which we refer to as the Quarterly Earnings and Supplemental Operating and Financial Data, June 30, 2013.

Also on August 7, 2013, our management discussed our financial results and certain aspects of our business plan on a conference call with analysts and investors. An unedited transcript of the conference call is furnished herewith as Exhibit 99.2.

The information furnished pursuant to this “Item 7.01 - Regulation FD Disclosure”, including Exhibit 99.1 and Exhibit 99.2, shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing made by us under the Exchange Act or the Securities Act, regardless of any general incorporation language in any such filing, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(a) Not applicable

(b) Not applicable

(c) Not applicable

(d) Exhibits

99.1	Quarterly Earnings and Supplemental Operating and Financial Data, June 30, 2013.
99.2	August 7, 2013 Conference Call Unedited Transcript.

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: August 8, 2013	By:	/s/ Patrick Carroll
		Patrick Carroll
		Chief Financial Officer

Exhibit Index

99.1	Quarterly Earnings and Supplemental Operating and Financial Data, June 30, 2013.
99.2	August 7, 2013 Conference Call Unedited Transcript.

EX-99.1

Exhibit 99.1

Quarterly Earnings and

Supplemental Operating and Financial Data

June 30, 2013

LEXINGTON REALTY TRUST

SUPPLEMENTAL REPORTING PACKAGE

June 30, 2013

Table of Contents

Section	Page
Second Quarter 2013 Earnings Press Release	3
Portfolio Data
2013 Second Quarter Leasing Summary	12
2013 Second Quarter Investment/Capital Recycling Summary	14
Build-To-Suit Projects/Forward Commitments	15
Property Leases and Vacancies – Consolidated Portfolio	16
Lease Rollover Schedule – Cash Basis	22
Lease Rollover Schedule – GAAP Basis	23
Mortgage Loans Receivable	25
2013 Second Quarter Financing Summary	26
Debt Maturity Schedule	27
2013 Mortgage Maturities by Property Type	28
2014 Mortgage Maturities by Property Type	29
2015 Mortgage Maturities by Property Type	30
2016 Mortgage Maturities by Property Type	31
2017 Mortgage Maturities by Property Type	32
Mortgages and Notes Payable	33
Partnership Interests	36
Selected Balance Sheet and Income Statement Account Data	37
Select Credit Metrics	38
Historical Credit Metrics Summary	39
Other Data	40
Top 20 Markets	41
Tenant Industry Diversification	42
Top 10 Tenants or Guarantors	43
Investor Information	44

This Quarterly Earnings Release and Supplemental Reporting Package contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the control of Lexington Realty Trust “Lexington”, which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Lexington’s periodic reports filed with the Securities and Exchange Commission, including risks related to: (1) the authorization of Lexington’s Board of Trustees of future dividend declarations, (2) Lexington’s ability to achieve its estimate of Company FFO, as adjusted, for the year ending December 31, 2013, (3) the successful consummation of any lease, acquisition, build-to-suit, or other transaction, (4) the failure to continue to qualify as a real estate investment trust, (5) changes in general business and economic conditions, including the impact of any new legislation, (6) competition, (7) increases in real estate construction costs, (8) changes in interest rates, (9) changes in accessibility of debt and equity capital markets, and (10) future impairment charges. Copies of the periodic reports Lexington files with the Securities and Exchange Commission are available on Lexington’s web site at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe Lexington’s future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects,” may,” “plans,” “predicts,” “will,” “will likely result,” “is optimistic” or similar expressions. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington’s expectations will be realized.

Lexington Realty Trust

TRADED: NYSE: LXP

One Penn Plaza, Suite 4015

NEW YORK NY 10119-4015

Contact:

Investor or Media Inquiries, T. Wilson Eglin, CEO

Lexington Realty Trust

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

FOR IMMEDIATE RELEASE

Wednesday, August 7, 2013

LEXINGTON REALTY TRUST REPORTS SECOND QUARTER 2013 RESULTS

New York, NY - August 7, 2013 - Lexington Realty Trust (“Lexington”) (NYSE:LXP), a real estate investment trust focused on single-tenant real estate investments, today announced results for the second quarter ended June 30, 2013.

Second Quarter 2013 Highlights

· Generated Company Funds From Operations, as adjusted (“Company FFO, as adjusted”), of $56.4 million, or $0.25 per diluted common share.

· Executed 2.1 million square feet of new and extended leases, raising overall portfolio occupancy to 97.9%, and 2.5 million square feet of new and extended leases subsequent to quarter end.

· Issued $250.0 million of 4.25% 10-year Senior Notes, which are unsecured and rated investment-grade by Moody’s Investors Service, Inc. and Standard & Poor’s Rating Services.

· Swapped the LIBOR component on $64.0 million of five-year unsecured term loan borrowings at 0.73% for a current fixed interest rate of 2.08%.

· Increased revolving credit facility availability from $300.0 million to $400.0 million.

· Redeemed, at par, all $155.0 million of outstanding shares of 7.55% Series D Cumulative Redeemable Preferred Stock.

· Retired $219.4 million of secured debt, which had a weighted-average fixed interest rate of 6.1%.

· Closed property acquisitions of $47.1 million, invested $7.7 million in current build-to-suit projects and entered into two agreements to fund new build-to-suit projects for an aggregate commitment of $37.0 million.

· Produced $46.6 million of gross proceeds from dispositions.

T. Wilson Eglin, President and Chief Executive Officer of Lexington, stated, “We have made great progress addressing lease rollover, completing 4.6 million square feet of new and extended leases including 43% of our square footage subject to leases expiring in 2014 and 2015 since the beginning of the second quarter and through today. As a result, the weighted-average lease term of our portfolio is 7.7 years, an increase of 18% compared to June 30, 2012, with approximately 30% of our revenue coming from leases ten years or longer, providing the Company with a more stable base of long-term cash flow. In addition, we continued to lower our cost of capital with the completion of our first investment-grade rated notes offering, utilizing the proceeds primarily to retire expensive short-term secured debt”.

3

FINANCIAL RESULTS

Revenues

For the quarter ended June 30, 2013, total gross revenues were $99.4 million, compared with total gross revenues of $80.8 million for the quarter ended June 30, 2012. The increase is primarily due to property acquisitions.

Company FFO, As Adjusted

For the quarter ended June 30, 2013, Lexington generated Company FFO, as adjusted, of $56.4 million, or $0.25 per diluted share, compared to Company FFO, as adjusted, for the quarter ended June 30, 2012 of $44.2 million, or $0.24 per diluted share. The calculation of Company FFO, as adjusted, and a reconciliation to net income attributable to Lexington Realty Trust shareholders is included later in this press release.

Net Loss Attributable to Common Shareholders

For the quarter ended June 30, 2013, net loss attributable to common shareholders was $(0.8) million, or a loss of $(0.00) per diluted share, compared with net loss attributable to common shareholders for the quarter ended June 30, 2012 of $(3.4) million, or a loss of $(0.02) per diluted share.

Common Share/Unit Dividend/Distribution

Lexington declared a regular quarterly common share/unit dividend/distribution for the quarter ended June 30, 2013 of $0.15 per common share/unit, which was paid on July 15, 2013 to common shareholders/unitholders of record as of June 28, 2013.

OPERATING ACTIVITIES

Leasing

During the second quarter of 2013, Lexington executed 24 new and extended leases for 2.1 million square feet and ended the quarter with overall portfolio occupancy of 97.9%.

Subsequent to quarter end, Lexington executed 2.5 million square feet of new and extended leases.

Capital Recycling

Dispositions

During the second quarter of 2013, Lexington disposed of its interests in (1) three properties, (2) the retail parcel and parking facility at a property and (3) a land parcel to unrelated third parties for a gross sales price of $46.6 million. Lexington also conveyed two properties in full satisfaction of the aggregate $26.2 million outstanding non-recourse mortgage loans.

Investment Activity

Build-to-Suit Projects

Lexington completed the 167,000 square foot build-to-suit office property in Denver, Colorado for a capitalized cost of $38.4 million (8.8% initial cap rate). The property is net leased for a 15-year term. In addition, Lexington completed the 42,000 square foot build-to-suit retail property in Tuscaloosa, Alabama for a capitalized cost of $8.7 million (9.4% initial cap rate). The property is net leased for a 15-year term.

4

Lexington entered into a $29.6 million (7.3% initial cap rate) build-to-suit lease commitment to construct an 180,000 square foot industrial property in Las Vegas, Nevada. Upon completion of construction, a net lease for a 20-year term will commence.

In June 2013, Lexington acquired a 4.42 acre-site in Albany, Georgia and entered into a 15-year net-lease. Lexington will fund the construction of a 46,000 square foot retail property for a maximum price of $7.5 million (9.0% initial cap rate) and the lease will commence upon its completion.

In addition, Lexington continues to fund the construction of, and/or is under contract to acquire, the previously announced build-to-suit projects in (1) Rantoul, Illinois (8.0% initial cap rate) and (2) Bingen, Washington (10.7% initial cap rate). The aggregate estimated cost of these four build-to-suit projects is approximately $98.5 million of which $25.2 million was invested as of June 30, 2013. In addition, Lexington is committed to acquire upon its completion a property in Omaha, Nebraska for $39.1 million (7.1% initial cap rate). Lexington can give no assurance that any of the build-to-suit projects or other potential investments that are under commitment or contract or in process will be completed.

Subsequent to June 30, 2013, Lexington acquired the remaining interest in its Long Island City, New York property that it did not already own for $8.7 million.

CAPITAL MARKETS

Capital Activities and Balance Sheet Update

During the second quarter of 2013, Lexington repaid $193.2 million of secured debt which had a weighted-average interest rate of 6.0% and was scheduled to mature through 2014. In connection with the repayments, Lexington incurred $11.8 million in yield maintenance costs.

In addition, Lexington redeemed, at par, all $155.0 million of outstanding shares of its 7.55% Series D Cumulative Redeemable Preferred Stock.

Lexington issued $250.0 million aggregate principal amount of 4.25% Senior Notes due in 2023 at 99.026% of the principal amount. The notes are unsecured and rated Baa2 and BBB- by Moody’s Investors Service, Inc. and Standard & Poor’s Rating Services, respectively. In addition, the spreads to LIBOR on Lexington’s unsecured revolving credit facility and unsecured term loans were reduced as a result of obtaining the ratings.

Lexington borrowed $64.0 million on its five-year unsecured term loan and swapped the LIBOR component of the term loan for a current fixed interest rate of 2.08%.

Lexington exercised an accordion feature within the unsecured revolving credit facility to increase the availability from $300.0 million to $400.0 million. No amounts were outstanding as of June 30, 2013.

Subsequent to quarter end, Lexington converted approximately $12.2 million original principal amount of 6.00% Convertible Guaranteed Notes due 2030 for 1,777,562 common shares and a cash payment of $0.6 million.

2013 EARNINGS GUIDANCE

Lexington confirms its estimate of Company FFO, as adjusted, within an expected range of $1.01 to $1.04 per diluted share for the year ended December 31, 2013. This guidance is forward looking, excludes the impact of certain items and is based on current expectations.

5

SECOND QUARTER 2013 CONFERENCE CALL

Lexington will host a conference call today, Wednesday, August 7, 2013, at 11:00 a.m. Eastern Time, to discuss its results for the quarter ended June 30, 2013. Interested parties may participate in this conference call by dialing (888) 740-6142 or (913) 312-1503. A replay of the call will be available through August 21, 2013, at (877) 870-5176 or (858) 384-5517, pin: 1128163. A live webcast of the conference call will be available at www.lxp.com within the Investor Relations section.

ABOUT LEXINGTON REALTY TRUST

Lexington Realty Trust is a self-managed and self-administered real estate investment trust that invests in, owns, finances and manages predominantly single-tenant office, industrial and retail properties leased to major corporations throughout the United States and provides investment advisory and asset management services to investors in the single-tenant area. Lexington common shares are traded on the New York Stock Exchange under the symbol “LXP”. Additional information about Lexington is available on-line at www.lxp.com or by contacting Lexington Realty Trust, One Penn Plaza, Suite 4015, New York, New York 10119-4015, Attention: Investor Relations.

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under Lexington's control which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings “Management's Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Lexington's periodic reports filed with the Securities and Exchange Commission, including risks related to: (1) the authorization by Lexington's Board of Trustees of future dividend declarations, (2) Lexington's ability to achieve its estimate of Company FFO, as adjusted, for the year ending December 31, 2013, (3) the successful consummation of any lease, acquisition, build-to-suit or other transaction, (4) the failure to continue to qualify as a real estate investment trust, (5) changes in general business and economic conditions, including the impact of any legislation, (6) competition, (7) increases in real estate construction costs, (8) changes in interest rates, (9) changes in accessibility of debt and equity capital markets, and (10) future impairment charges. Copies of the periodic reports Lexington files with the Securities and Exchange Commission are available on Lexington's web site at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe Lexington's future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects”, “may,” “plans,” “predicts,” “will,” “will likely result,” “is optimistic” or similar expressions. Except as required by law, Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington's expectations will be realized.

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

6

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Gross revenues:
Rental	$	91,251		$	72,914		$	178,749		$	142,857
Advisory and incentive fees		154			765			328			1,088
Tenant reimbursements		8,008			7,150			15,866			14,300
Total gross revenues		99,413			80,829			194,943			158,245
Expense applicable to revenues:
Depreciation and amortization		(45,098	)		(37,339	)		(89,580	)		(74,084	)
Property operating		(15,924	)		(13,962	)		(31,533	)		(27,313	)
General and administrative		(6,596	)		(6,189	)		(13,759	)		(11,559	)
Non-operating income		1,470			1,626			3,431			4,245
Interest and amortization expense		(22,662	)		(23,469	)		(46,267	)		(47,261	)
Debt satisfaction charges, net		(11,726	)		(2	)		(22,722	)		(1,651	)
Litigation reserve		—			(2,800	)		—			(2,800	)
Impairment charges		—			—			(2,413	)		—
Loss before provision for income taxes, equity in earnings of non-consolidated entities and discontinued operations		(1,123	)		(1,306	)		(7,900	)		(2,178	)
Provision for income taxes		(160	)		(324	)		(561	)		(505	)
Equity in earnings of non-consolidated entities		204			10,277			339			17,670
Income (loss) from continuing operations		(1,079	)		8,647			(8,122	)		14,987
Discontinued operations:
Income (loss) from discontinued operations		(47	)		(2,557	)		1,672			(2,581	)
Provision for income taxes		(1,158	)		(6	)		(1,162	)		(11	)
Debt satisfaction gains (charges), net		(1,299	)		—			9,250			1,728
Gains on sales of properties		12,806			2,671			12,806			2,671
Impairment charges		(1,391	)		(3,129	)		(8,735	)		(5,690	)
Total discontinued operations		8,911			(3,021	)		13,831			(3,883	)
Net income		7,832			5,626			5,709			11,104
Less net income attributable to noncontrolling interests		(1,100	)		(1,116	)		(1,597	)		(2,983	)
Net income attributable to Lexington Realty Trust shareholders		6,732			4,510			4,112			8,121
Dividends attributable to preferred shares - Series B		—			(919	)		—			(2,298	)
Dividends attributable to preferred shares - Series C		(1,573	)		(1,573	)		(3,145	)		(3,145	)
Dividends attributable to preferred shares - Series D		(617	)		(2,925	)		(3,543	)		(5,851	)
Allocation to participating securities		(161	)		(139	)		(338	)		(289	)
Deemed dividend - Series B		—			(2,346	)		—			(2,346	)
Redemption discount - Series C		—			—			—			229
Deemed dividend - Series D		(5,230	)		—			(5,230	)		—
Net loss attributable to common shareholders	$	(849	)	$	(3,392	)	$	(8,144	)	$	(5,579	)
Income (loss) per common share - basic:
Income (loss) from continuing operations	$	(0.04	)	$	—		$	(0.11	)	$	—
Income (loss) from discontinued operations		0.04			(0.02	)		0.07			(0.04	)
Net loss attributable to common shareholders	$	—		$	(0.02	)	$	(0.04	)	$	(0.04	)
Weighted-average common shares outstanding - basic:		211,619,288			154,558,380			200,487,623			154,353,707
Income (loss) per common share - diluted:
Income (loss) from continuing operations	$	(0.04	)	$	—		$	(0.11	)	$	—
Income (loss) from discontinued operations		0.04			(0.02	)		0.07			(0.04	)
Net loss attributable to common shareholders	$	—		$	(0.02	)	$	(0.04	)	$	(0.04	)
Weighted-average common shares outstanding - diluted		211,619,288			154,797,485			200,487,623			154,353,707
Amounts attributable to common shareholders:
Income (loss) from continuing operations	$	(9,259	)	$	222		$	(21,484	)	$	(78	)
Income (loss) from discontinued operations		8,410			(3,614	)		13,340			(5,501	)
Net loss attributable to common shareholders	$	(849	)	$	(3,392	)	$	(8,144	)	$	(5,579	)

7

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

June 30, 2013 (unaudited) and December 31, 2012

(In thousands, except share and per share data)

	2013			2012
Assets:
Real estate, at cost	$	3,616,618		$	3,564,466
Real estate - intangible assets		694,557			685,914
Investments in real estate under construction		23,099			65,122
		4,334,274			4,315,502
Less: accumulated depreciation and amortization		1,197,732			1,150,417
		3,136,542			3,165,085
Cash and cash equivalents		74,278			34,024
Restricted cash		20,521			26,741
Investment in and advances to non-consolidated entities		11,224			27,129
Deferred expenses, net		63,679			57,549
Loans receivable, net		88,994			72,540
Rent receivable - current		8,505			7,355
Rent receivable - deferred		1,965			—
Other assets		38,566			27,780
Total assets	$	3,444,274		$	3,418,203
Liabilities and Equity:
Liabilities:
Mortgages and notes payable	$	1,043,934		$	1,415,961
Term loans payable		319,000			255,000
Senior notes payable		247,585			—
Convertible notes payable		38,666			78,127
Trust preferred securities		129,120			129,120
Dividends payable		33,990			31,351
Accounts payable and other liabilities		56,891			70,367
Accrued interest payable		9,942			11,980
Deferred revenue - including below market leases, net		71,205			79,908
Prepaid rent		18,394			13,224
Total liabilities		1,968,727			2,085,038
Commitments and contingencies
Equity:
Preferred shares, par value $0.0001 per share; authorized 100,000,000 shares,
Series C Cumulative Convertible Preferred, liquidation preference $96,770; 1,935,400 shares issued and outstanding		94,016			94,016
Series D Cumulative Redeemable Preferred, liquidation preference $155,000; 6,200,000 shares issued and outstanding in 2012		—			149,774
Common shares, par value $0.0001 per share; authorized 400,000,000 shares, 214,234,685 and 178,616,664 shares issued and outstanding in 2013 and 2012, respectively		21			18
Additional paid-in-capital		2,568,198			2,212,949
Accumulated distributions in excess of net income		(1,215,793	)		(1,143,803	)
Accumulated other comprehensive income (loss)		3,912			(6,224	)
Total shareholders' equity		1,450,354			1,306,730
Noncontrolling interests		25,193			26,435
Total equity		1,475,547			1,333,165
Total liabilities and equity	$	3,444,274		$	3,418,203

8

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

EARNINGS PER SHARE

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

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
EARNINGS PER SHARE:
Basic:
Income (loss) from continuing operations attributable to common shareholders	$	(9,259	)	$	222		$	(21,484	)	$	(78	)
Income (loss) from discontinued operations attributable to common shareholders		8,410			(3,614	)		13,340			(5,501	)
Net loss attributable to common shareholders	$	(849	)	$	(3,392	)	$	(8,144	)	$	(5,579	)
Weighted-average number of common shares outstanding		211,619,288			154,558,380			200,487,623			154,353,707
Income (loss) per common share:
Income (loss) from continuing operations	$	(0.04	)	$	—		$	(0.11	)	$	—
Income (loss) from discontinued operations		0.04			(0.02	)		0.07			(0.04	)
Net loss attributable to common shareholders	$	—		$	(0.02	)	$	(0.04	)	$	(0.04	)
Diluted:
Income (loss) from continuing operations attributable to common shareholders	$	(9,259	)	$	222		$	(21,484	)	$	(78	)
Impact of assumed conversions:
Share options		—			—			—			—
Income (loss) from continuing operations attributable to common shareholders		(9,259	)		222			(21,484	)		(78	)
Income (loss) from discontinued operations attributable to common shareholders		8,410			(3,614	)		13,340			(5,501	)
Net loss attributable to common shareholders	$	(849	)	$	(3,392	)	$	(8,144	)	$	(5,579	)
Weighted-average common shares outstanding - basic		211,619,288			154,558,380			200,487,623			154,353,707
Effect of dilutive securities:
Share options		—			239,105			—			—
Weighted-average common shares outstanding		211,619,288			154,797,485			200,487,623			154,353,707
Income (loss) per common share:
Income (loss) from continuing operations	$	(0.04	)	$	—		$	(0.11	)	$	—
Income (loss) from discontinued operations		0.04			(0.02	)		0.07			(0.04	)
Net loss attributable to common shareholders	$	—		$	(0.02	)	$	(0.04	)	$	(0.04	)

9

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

REPORTED COMPANY FUNDS FROM OPERATIONS & FUNDS AVAILABLE FOR DISTRIBUTION

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

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
FUNDS FROM OPERATIONS: (1)
Basic and Diluted:
Net income attributable to Lexington Realty Trust shareholders	$	6,732		$	4,510		$	4,112		$	8,121
Adjustments:
Depreciation and amortization		44,160			41,318			88,116			79,619
Impairment charges - real estate		1,391			3,129			11,148			5,690
Noncontrolling interests - OP units		837			78			1,084			438
Amortization of leasing commissions		1,351			1,211			2,679			2,298
Joint venture and noncontrolling interest adjustment		545			2,047			1,121			926
Preferred dividends - Series B & D		(617	)		(3,844	)		(3,543	)		(8,149	)
Gains on sales of properties, net of tax		(11,881	)		(2,671	)		(11,881	)		(2,671	)
Gain on sale - joint venture investment		—			(7,000	)		—			(7,000	)
Interest and amortization on 6.00% Convertible Guaranteed Notes		828			2,326			1,892			4,653
Reported Company FFO		43,346			41,104			94,728			83,925
Debt satisfaction charges (gains), net		13,025			2			13,472			(77	)
Litigation reserve		—			2,800			—			2,800
Other		76			332			195			322
Company FFO, as adjusted		56,447			44,238			108,395			86,970
FUNDS AVAILABLE FOR DISTRIBUTION: (2)
Adjustments:
Straight-line rents		(9,143	)		(5,408	)		(2,920	)		4,069
Lease incentives		374			293			630			830
Amortization of below/above market leases		(218	)		(1,394	)		(170	)		(2,695	)
Non-cash interest, net		(32	)		(182	)		(347	)		(856	)
Non-cash charges, net		2,011			1,177			3,592			2,358
Tenant improvements		(13,475	)		(3,690	)		(28,149	)		(5,800	)
Lease costs		(2,125	)		(987	)		(4,919	)		(3,631	)
Reported Company Funds Available for Distribution	$	33,839		$	34,047		$	76,112		$	81,245
Per Share Amounts
Basic:
Reported Company FFO	$	0.19		$	0.23		$	0.44		$	0.47
Company FFO, as adjusted	$	0.25		$	0.25		$	0.50		$	0.48
Company FAD	$	0.15		$	0.19		$	0.35		$	0.45
Diluted:
Reported Company FFO	$	0.19		$	0.23		$	0.44		$	0.47
Company FFO, as adjusted	$	0.25		$	0.24		$	0.50		$	0.48
Company FAD	$	0.15		$	0.19		$	0.35		$	0.45

10

LEXINGTON REALTY TRUST AND CONSOLIDATED SUBSIDIARIES

REPORTED COMPANY FUNDS FROM OPERATIONS & FUNDS AVAILABLE FOR DISTRIBUTION (CONTINUED)

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Basic:
Weighted-average common shares outstanding - EPS basic		211,619,288		154,558,380		200,487,623		154,353,707
6.00% Convertible Guaranteed Notes		5,937,510		16,409,546		6,712,713		16,409,546
Non-vested share-based payment awards		564,540		199,202		496,692		201,099
Operating Partnership Units		4,167,712		4,505,457		4,193,121		4,519,416
Preferred Shares - Series C		4,710,570		4,710,570		4,710,570		4,714,293
Weighted-average common shares outstanding - basic		226,999,620		180,383,155		216,600,719		180,198,061
Diluted:
Weighted-average common shares outstanding - basic		226,999,620		180,383,155		216,600,719		180,198,061
Options - Incremental shares		802,777		239,105		935,331		243,659
Weighted-average common shares outstanding - diluted		227,802,397		180,622,260		217,536,050		180,441,720

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

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

Lexington presents “Reported Company funds from operations” or “Reported Company FFO,” which differs from FFO because it includes Lexington's operating partnership units, Lexington's 6.50% Series C Cumulative Convertible Preferred Shares, and Lexington's 6.00% Convertible Guaranteed Notes due 2030 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 Lexington presents Reported 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. Lexington also presents “Company funds from operations, as adjusted” or “Company FFO, as adjusted,” which adjusts Reported Company FFO for certain items which Management believes are not indicative of the operating results of its real estate portfolio. Management believes this is an appropriate presentation as it is frequently requested by security analysts, investors and other interested parties. Since others do not calculate funds from operations in a similar fashion, Reported Company FFO and Company FFO, as adjusted, may not be comparable to similarly titled measures as reported by others. Reported Company FFO and Company FFO, as adjusted, 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.

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

# # #

11

LEXINGTON REALTY TRUST

2013 Second Quarter Leasing Summary

LEASE EXTENSIONS

	Tenants (Guarantors)	Location		Prior Term	Lease Expiration Date	Sq. Ft.		New Cash Rent Per Annum ($000)(1)		Prior Cash Rent Per Annum ($000)		New GAAP Rent Per Annum ($000)(1)		Prior GAAP Rent Per Annum ($000)
	Office/Multi-Tenant			2013 Extensions
1-5	Various	Chicago/Honolulu	IL/HI	MTM/2013	2014-2015		3,457	$	75	$	79	$	75	$	79
6	Woodlands Internists, Inc.	The Woodlands	TX	MTM	05/2016		8,102	$	176	$	176	$	176	$	176
7	JPMorgan Chase Bank, National Association	Florence	SC	10/2013	10/2014		86,403	$	993	$	614	$	993	$	614
8	AT&T Services, Inc.	Harrisburg	PA	12/2013	12/2018		61,766	$	1,143	$	1,344	$	1,265	$	1,310
				2014 Extensions
9	James J. Benes & Associates, Inc.	Lisle	IL	01/2014	12/2019		6,347	$	71	$	141	$	97	$	107
10	Wells Fargo Bank, N.A. (2)	Fort Mill	SC	05/2014	05/2024		169,218	$	1,785	$	2,890	$	2,026	$	2,556
11	Wells Fargo Bank, N.A. (2)	Fort Mill	SC	05/2014	05/2024		169,083	$	1,783	$	2,140	$	1,950	$	1,864
12	Invensys Systems, Inc. (Siebe, Inc.) (3)	Foxboro	MA	06/2014	06/2024		251,924	$	2,469	$	3,308	$	2,009	$	2,506
13	Alstom Power, Inc.	Knoxville	TN	10/2014	10/2024		84,404	$	1,646	$	1,836	$	1,798	$	1,621
				2015 Extension
14	Orange Business Services U.S., Inc. (Equant N.V.)	Herndon	VA	04/2015	07/2020		132,617	$	1,615	$	2,225	$	1,526	$	2,063
				2019 Extension
15	Bank of America, National Association	Brea	CA	06/2019	07/2023		637,503	$	9,410	$	9,135	$	8,978	$	8,414
.
15	Total office/multi-tenant lease extensions						1,610,824	$	21,166	$	23,888	$	20,893	$	21,310
	Industrial			2013 Extension
1	Staples, Inc. / Corporate Express, Inc.	Henderson	NC	12/2013	06/2016		196,946	$	788	$	876	$	812	$	811
				2014 Extension
2	Pierce Packaging Co.	Rockford	IL	12/2014	12/2016		90,000	$	302	$	404	$	302	$	314
2	Total industrial lease extension						286,946	$	1,090	$	1,280	$	1,114	$	1,125
17	TOTAL EXTENDED LEASES						1,897,770	$	22,256	$	25,168	$	22,007	$	22,435

NEW LEASES

	Tenants	Location		Lease Expiration  Date	Sq. Ft.		New Cash Rent Per Annum ($000)(1)		New GAAP Rent Per Annum ($000)(1)
	Office/Multi-Tenant
1-2	Various	Honolulu/Glen Allen	HI/VA	2014/2020		977	$	18	$	18
3	Caliber Funding, LLC	Florence	SC	06/2018		37,381	$	469	$	691
4	FTJ FundChoice, LLC	Hebron	KY	08/2020		3,818	$	26	$	26
5	ALTA Resources Corp.	Fort Myers	FL	06/2023		63,261	$	886	$	969
6	Orlando/Orange County Convention & Visitor Bureau, Inc.	Orlando	FL	09/2024		44,752	$	317	$	959
6	Total office/multi-tenant new lease					150,189	$	1,716	$	2,663
	Industrial
1	Autocam Corporation	Marshall	MI	12/2023		58,707	$	98	$	98
1	Total industrial new leases					58,707	$	98	$	98
7	TOTAL NEW LEASES					208,896	$	1,814	$	2,761
24	TOTAL NEW AND EXTENDED LEASES					2,106,666	$	24,070	$	24,768

12

LEXINGTON REALTY TRUST

2013 Second Quarter Leasing Summary (Continued)

LEASE NON-RENEWALS

	Tenants (Guarantors)	Location		Lease Expiration  Date	Sq. Ft.		Annual 2012 Cash Rent ($000)		Annual 2012 GAAP Rent  ($000)
	Office
1	International Business Machines Corporation /Internet Security Systems, Inc. (ISS Group, Inc.)	Atlanta	GA	05/2013		34,400	$	888	$	703
2	JPMorgan Chase Bank, National Association	Florence	SC	10/2013		52,773	$	375	$	375
2	TOTAL LEASE NON-RENEWALS					87,173	$	1,263	$	1,078

Footnotes

(1) Assumes twelve months rent from the later of 7/1/13 or lease commencement/extension.

(2) Extension lease is triple net rent while prior lease was not; accordingly, prior rent amounts are adjusted for operating expenses.

(3) Fully amortizing mortgage with $2.8 million of annual debt service matured January 2013.

13

LEXINGTON REALTY TRUST

2013 Second Quarter Investment/Capital Recycling Summary

PROPERTY INVESTMENTS

	Tenants	Location		Property Type	Initial Basis ($000)		Initial Annualized Cash Rent ($000)		Initial Cash Yield			GAAP Yield			Lease Expiration
1	Gander Mountain Company (1)	Tuscaloosa	AL	Retail	$	8,720	$	818		9.4	%		10.3	%	05/2028
2	Trizetto Corporation (1)	Englewood	CO	Office	$	38,372	$	3,362		8.8	%		10.0	%	04/2028
2	TOTAL PROPERTY INVESTMENTS				$	47,092	$	4,180		8.9	%		10.1	%

CAPITAL RECYCLING

PROPERTY DISPOSITIONS (5)

	Tenants	Location		Property Type	Gross Sale Price ($000)		Annualized NOI ($000)			Month of Disposition
1	Vacant (2)	Honolulu	HI	Retail	$	25,900	$	504			April
2	Gander Mountain Company	Valdosta	GA	Retail	$	9,515	$	770			June
3	Gander Mountain Company	Opelika	AL	Retail	$	9,328	$	722			June
4	Panasonic Automotive Systems Company of America, a Division of Panasonic Corporation of North America / Vacant (3)	Farmington Hills	MI	Office	$	17,542	$	705			June
5	Brookshire Grocery Company / Safeway, Inc.	Greenville	TX	Retail	$	1,700	$	169			June
6	Allstate Insurance Company / Vacant (4)	Indianapolis	IN	Office	$	8,686	$	(62	)		June
6	TOTAL PROPERTY DISPOSITIONS				$	72,671	$	2,808

Footnotes

(1) Completed build-to-suit project.

(2) Retail store formerly leased to Macy's West Stores, Inc. and adjoining parking garage. NOI reflects parking garage only.

(3) Property was conveyed to fully satisfy a $17.5 million non-recourse mortgage.

(4) Property was conveyed to fully satisfy an $8.7 million non-recourse mortgage.

(5) Lexington also sold a land parcel for $123 thousand.

14

LEXINGTON REALTY TRUST

BUILD-TO-SUIT PROJECTS / FORWARD COMMITMENTS

6/30/2013

BUILD-TO-SUIT PROJECTED FUNDING SCHEDULE

	Location		Sq. Ft		Lease Term (Years)		Maximum Commitment/Estimated Completion Cost ($000)		Investment balance as of 6/30/13 ($000)(1)		Estimated Cash Investment Next 12 Months ($000)								Estimated Completion Date
											Q3 2013		Q4 2013		Q1 2014		Q2 2014
1	Rantoul	IL		813,000		20	$	42,587	$	20,601	$	12,890	$	8,590	$	-	$	-	4Q 13
2	Bingen	WA		124,000		12	$	18,898	$	760	$	4,947	$	4,947	$	4,947	$	3,297	2Q 14
3	Albany	GA		46,000		15	$	7,460	$	1,738	$	4,216	$	1,440	$	-	$	-	4Q 13
4	Las Vegas	NV		180,000		20	$	29,585	$	1,191	$	6,991	$	6,991	$	6,991	$	6,991	3Q 14
4	TOTAL BUILD-TO-SUIT PROJECTS						$	98,530	$	24,290	$	29,044	$	21,968	$	11,938	$	10,288

FORWARD COMMITMENTS

	Tenants	Location	Property Type	Estimated Acquisition Cost  ($000)		Estimated Completion Date	Estimated Initial Cash Yield			Estimated GAAP Yield			Lease Term
1	The Gavilion Group LLC	Omaha  NE	Office	$	39,125	4Q 13		7.1	%		8.5	%	20 yrs
1	TOTAL FORWARD COMMITMENT			$	39,125			7.1	%		8.5	%

Footnotes

(1) Investment balance in accordance with GAAP included in investment in real estate under construction; with the exception of the Las Vegas investment, which is included in other assets. Aggregate equity invested is $25,186.

15

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 6/30/2013

Year of Lease Expiration		Date of Lease  Expiration	Property Location	City	State	Note		Primary Tenant (Guarantor)	Year Acquired/ Built/ Renovated/ Expanded	Sq.Ft. Leased or Available (1)		Cash Rent as of 6/30/2013 ($000) (2)		GAAP Base Rent as of 6/30/2013 ($000) (3)
OFFICE PROPERTIES
	2013	MTM	810 Gears Rd.	Houston	TX		—	Ricoh Americas Corporation	2000		2,460		16		16
		10/31/2013	3943 Denny Ave.	Pascagoula	MS		—	Northrop Grumman Systems Corporation	1995		94,841		319		319
		11/30/2013	1110 Bayfield Dr.	Colorado Springs	CO		—	Honeywell International Inc.	1980/1990/2002		166,575		815		800
			200 Lucent Ln.	Cary	NC		—	Progress Energy Service Company, LLC	1999		124,944		1,225		1,121
		12/31/2013	2550 Interstate Dr.	Harrisburg	PA		—	AT&T Services, Inc.	1998		27,584		300		283
			3165 McKelvey Rd.	Bridgeton	MO		—	BJC Health System	1981		52,994		198		231
	2014	1/31/2014	1401 & 1501 Nolan Ryan Pkwy.	Arlington	TX		—	Siemens Dematic Postal Automation L.P. / Siemens Energy & Automation, Inc. / Siemens Shared Services, LLC	2003		236,547		1,362		1,362
		3/15/2014	101 East Erie St.	Chicago	IL		—	Draftfcb, Inc. (Interpublic Group of Companies, Inc.)	1986		212,988		2,075		2,510
		4/30/2014	4400 Northcorp Pkwy.	Palm Beach Gardens	FL		—	Office Suites Plus Properties, Inc.	1996		18,400		138		39
		7/31/2014	16676 Northchase Dr.	Houston	TX		—	Kerr-McGee Oil & Gas Corporation (Kerr-McGee Corporation)	2003		101,111		845		814
		9/30/2014	333 Mt. Hope Ave.	Rockaway	NJ		—	BASF Corporation	1981/2002/2004		95,500		1,122		1,061
		10/31/2014	700 US Hwy. Route 202-206	Bridgewater	NJ		—	Biovail Pharmaceuticals, Inc. (Valeant Pharmaceuticals International, Inc.)	1985/2003/2004		115,558		1,017		1,285
		11/30/2014	850-950 Warrenville Rd.	Lisle	IL		—	Flexco, Inc.	1984		7,535		70		70
		12/14/2014	22011 Southeast 51st St.	Issaquah	WA		—	Spacelabs Medical, Inc. / OSI Systems, Inc. (Instrumentarium Corporation)	1987		95,600		1,084		981
			5150 220th Ave.	Issaquah	WA		—	Spacelabs Medical, Inc. / OSI Systems, Inc. (Instrumentarium Corporation)	1992		106,944		1,206		1,111
		12/31/2014	1066 Main St.	Forest Park	GA		—	Bank of America, NA (Bank of America Corporation)	1969		14,859		100		100
			1698 Mountain Industrial Blvd.	Stone Mountain	GA		—	Bank of America, NA (Bank of America Corporation)	1973		5,704		48		48
			180 South Clinton St.	Rochester	NY		—	Frontier Corporation	1988/2000		226,000		1,505		1,502
			201 West Main St.	Cumming	GA		—	Bank of America, NA (Bank of America Corporation)	1968/1982		14,208		99		99
			2223 North Druid Hills Rd.	Atlanta	GA		—	Bank of America, NA (Bank of America Corporation)	1972		6,260		56		56
			275 Technology Dr.	Canonsburg	PA		—	ANSYS, Inc.	1996		107,872		715		689
			400 Butler Farm Rd.	Hampton	VA		—	Nextel Communications of the Mid-Atlantic, Inc. (Nextel Finance Company)	1999		100,632		653		621
			4545 Chamblee – Dunwoody Rd.	Chamblee	GA		—	Bank of America, NA (Bank of America Corporation)	1972		4,565		44		44
			825 Southway Dr.	Jonesboro	GA		—	Bank of America, NA (Bank of America Corporation)	1971		4,894		39		39
			956 Ponce de Leon Ave.	Atlanta	GA		—	Bank of America, NA (Bank of America Corporation)	1975		3,900		39		39
	2015	1/31/2015	26555 Northwestern Hwy.	Southfield	MI		—	Federal-Mogul Corporation	1966/1973/1988/1989		187,163		579		709
		3/31/2015	3940 South Teller St.	Lakewood	CO		—	MoneyGram Payment Systems, Inc.	2002		68,165		530		545
		6/30/2015	2500 Patrick Henry Pkwy.	McDonough	GA		—	Georgia Power Company	1999		111,911		782		689
			33 Commercial St.	Foxboro	MA		—	Invensys Systems, Inc. (Siebe, Inc.)	1982/1987		164,689		3,153		1,845
			3711 San Gabriel	Mission	TX		—	VoiceStream PCS II Corporation / T-Mobile USA, Inc. / T-Mobile West Corporation	2003		75,016		530		426
		7/31/2015	4001 International Pkwy.	Carrollton	TX		—	Motel 6 Operating, LP (Accor S.A.)	2003		138,443		1,606		1,597
		9/27/2015	2529 West Thorne Dr.	Houston	TX		—	Baker Hughes, Incorporated	1982/1999		65,500		789		326
		9/30/2015	500 Olde Worthington Rd.	Westerville	OH		—	InVentiv Communications, Inc.	2000		97,000		557		628
			550 Business Center Dr.	Lake Mary	FL		—	JPMorgan Chase Bank, National Association	1999		125,920		963		1,048
			600 Business Center Dr.	Lake Mary	FL		—	JPMorgan Chase Bank, National Association	1996		125,155		923		1,025
		10/31/2015	12209 West Markham St.	Little Rock	AR		—	Entergy Arkansas, Inc.	1980		36,311		119		119
			5201 West Barraque St.	Pine Bluff	AR		—	Entergy Arkansas Inc.	1964/1972/1988		27,189		96		71
	2016	1/31/2016	1600 Eberhardt Rd.	Temple	TX		—	Nextel of Texas, Inc. (Nextel Finance Company)	2001		108,800		837		673
		4/30/2016	11511 Luna Rd.	Farmers Branch	TX		—	Haggar Clothing Co. (Texas Holding Clothing Corporation and Haggar Corp.)	2000		180,507		1,177		1,594
			2000 Eastman Dr.	Milford	OH		—	Siemens Corporation	1991/1998		221,215		1,243		1,159
		5/31/2016	1200 Jupiter Rd.	Garland	TX		—	Raytheon Company	1980		278,759		753		864
		7/14/2016	1400 Northeast McWilliams Rd.	Bremerton	WA		—	Nextel West Corporation (Nextel Finance Company)	2002		60,200		608		608
		10/31/2016	104 & 110 South Front St.	Memphis	TN		—	Hnedak Bobo Group, Inc.	1871/1980/1988/1999		37,229		259		251
		12/31/2016	2050 Roanoke Rd.	Westlake	TX		—	TD Auto Finance LLC	2001		130,290		1,287		1,332
	2017	3/31/2017	1701 Market St.	Philadelphia	PA		4	Car-Tel Communications, Inc.	1957/1997		1,220		28		28
		4/30/2017	1315 West Century Dr.	Louisville	CO		—	Global Healthcare Exchange, Inc. (Global Healthcare Exchange, LLC)	1987/2006		106,877		834		821
		9/30/2017	9201 East Dry Creek Rd.	Centennial	CO		—	The Shaw Group, Inc.	2001/2002		128,500		1,186		898
		10/31/2017	4455 American Way	Baton Rouge	LA		—	New Cingular Wireless PCS, LLC	1997		70,100		508		508
		11/30/2017	6200 Northwest Pkwy.	San Antonio	TX		—	United HealthCare Services, Inc. / PacifiCare Healthsystems, LLC	2000		142,500		891		933
		12/31/2017	100 East Shore Dr.	Glen Allen	VA		—	Capital One, National Association	1999		68,118		597		591

16

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 6/30/2013

Year of Lease Expiration		Date of Lease   Expiration	Property Location	City	State	Note		Primary Tenant (Guarantor)	Year Acquired/ Built/ Renovated/ Expanded	Sq.Ft. Leased or Available (1)		Cash Rent as of 6/30/2013 ($000) (2)		GAAP Base Rent as of 6/30/2013 ($000) (3)
	2018	1/31/2018	820 Gears Rd.	Houston	TX		—	Ricoh Americas Corporation	2000		78,895		506		477
		4/30/2018	Sandlake Rd./Kirkman Rd.	Orlando	FL		—	Lockheed Martin Corporation	1982		184,000		480		935
		5/30/2018	13651 McLearen Rd.	Herndon	VA		—	United States of America	1987		159,644		1,670		1,701
		5/31/2018	6303 Barfield Rd.	Atlanta	GA		—	International Business Machines Corporation /Internet Security Systems, Inc. (ISS Group, Inc.)	2000/2001		238,600		2,210		924
			8900 Freeport Pkwy.	Irving	TX		—	Pacific Union Financial, LLC.	2003		43,396		114		395
		6/30/2018	100 Barnes Rd.	Wallingford	CT		—	3M Company	1977/1978/1985/1990/1993		44,400		239		254
			420 Riverport Rd.	Kingsport	TN		—	Kingsport Power Company	1981		42,770		155		64
		8/31/2018	3500 North Loop Rd.	McDonough	GA		—	Litton Loan Servicing LP	2007		62,218		618		428
		9/30/2018	1701 Market St.	Philadelphia	PA		4	CBC Restaurant Corp.	1957/1997		8,070		104		106
		12/22/2018	5200 Metcalf Ave.	Overland Park	KS		—	Swiss Re America Holding Corporation / Westport Insurance Corporation	1980/1990/2004/2005		320,198		2,443		2,459
		12/31/2018	120 East Shore Dr.	Glen Allen	VA		—	Capital One Services, LLC	2000		77,045		361		379
			2550 Interstate Dr.	Harrisburg	PA		—	AT&T Services, Inc.	1998		61,766		672		634
	2019	1/31/2019	2999 Southwest 6th St.	Redmond	OR		—	VoiceStream PCS I, LLC / T-Mobile West Corporation (T-Mobile USA, Inc.)	2004		77,484		820		734
		4/1/2019	9201 Stateline Rd.	Kansas City	MO		—	Swiss Re America Holding Corporation / Westport Insurance Corporation	1963/1973/1985/2003		155,925		1,143		1,143
		6/19/2019	3965 Airways Blvd.	Memphis	TN		—	Federal Express Corporation	1982/1983/1985/2006/2007		521,286		3,446		3,507
		6/28/2019	3265 East Goldstone Dr.	Meridian	ID		—	VoiceStream PCS Holding, LLC / T-Mobile PCS Holdings, LLC (T-Mobile USA, Inc.)	2004		77,484		671		553
		7/15/2019	19019 North 59th Ave.	Glendale	AZ		—	Honeywell International Inc.	1986/1997/2000		252,300		894		951
		7/31/2019	500 Jackson St.	Columbus	IN		—	Cummins, Inc.	1885/1980/1984/2006		390,100		2,295		2,270
		10/31/2019	10475 Crosspoint Blvd.	Indianapolis	IN		16	John Wiley & Sons, Inc.	1999		141,047		1,129		1,168
			9601 Renner Blvd.	Lenexa	KS		—	VoiceStream PCS II Corporation (T-Mobile USA, Inc.)	2004		77,484		687		571
		12/31/2019	421 Butler Farm Rd.	Hampton	VA		—	Patient Advocate Foundation	2000		36,484		337		453
			850-950 Warrenville Rd.	Lisle	IL		—	National-Louis University / James J. Benes & Associates, Inc.	1984		91,879		727		782
	2020	1/31/2020	10300 Kincaid Dr.	Fishers	IN		—	Roche Diagnostics Operations, Inc.	1999		193,000		1,713		1,712
		2/14/2020	5600 Broken Sound Blvd.	Boca Raton	FL		—	Océ Printing Systems USA, Inc. (Oce-USA Holding, Inc.)	1983/2002		143,290		1,163		1,122
		5/31/2020	2401 Cherahala Blvd.	Knoxville	TN		—	AdvancePCS, Inc. / CaremarkPCS, L.L.C.	2002		59,748		435		387
		6/30/2020	10419 North 30th St.	Tampa	FL		—	Time Customer Service, Inc.  (Time Incorporated)	1986		132,981		700		724
		7/8/2020	1460 Tobias Gadsen Blvd.	Charleston	SC		—	Hagemeyer North America, Inc.	2005		50,076		407		420
		7/31/2020	13775 McLearen Rd.	Herndon	VA		12	Orange Business Services U.S., Inc. (Equant N.V.)	1985/1986/1992/1999		132,617		875		919
		8/31/2020	First Park Dr.	Oakland	ME		—	Omnipoint Holdings, Inc. (T-Mobile USA, Inc.)	2005		78,610		680		573
		9/30/2020	9200 South Park Center Loop	Orlando	FL		—	Corinthian Colleges, Inc.	2003		59,927		459		465
	2021	1/31/2021	1701 Market St.	Philadelphia	PA		4	Morgan, Lewis & Bockius LLP	1957/1997		289,432		2,236		2,148
		3/31/2021	1311 Broadfield Blvd.	Houston	TX		—	Transocean Offshore Deepwater Drilling, Inc. (Transocean Sedco Forex, Inc.)	2000		155,040		1,163		1,312
		6/30/2021	1415 Wyckoff Rd.	Wall	NJ		—	New Jersey Natural Gas Company	1983		157,511		1,656		1,656
		8/31/2021	333 Three D Systems Circle	Rock Hill	SC		—	3D Systems Corporation	2006		80,028		335		344
		11/30/2021	29 South Jefferson Rd.	Whippany	NJ		—	CAE SimuFlite, Inc. (CAE INC.)	2006/2008		123,734		1,213		1,164
		12/31/2021	2800 Waterford Lake Dr.	Midlothian	VA		—	Alstom Power, Inc.	2000		99,057		1,055		1,070
	2022	1/31/2022	26210 and 26220 Enterprise Court	Lake Forest	CA		—	Apria Healthcare, Inc. (Apria Healthcare Group, Inc.)	2001		100,012		604		600
		6/30/2022	8555 South River Pkwy.	Tempe	AZ		—	ASM Lithography, Inc. (ASM Lithography Holding N.V.) (2013)  / DA Nanomaterials L.L.C./ Air Products and Chemicals, Inc. (2022)	1998		95,133		1,177		1,177
		7/31/2022	1440 E 15th Street	Tucson	AZ		—	CoxCom, LLC	1988		28,591		273		273
		11/30/2022	4201 Marsh Ln.	Carrollton	TX		—	Carlson Restaurants Inc. (Carlson, Inc.)	2003		130,000		1,009		933
		12/31/2022	147 Milk St.	Boston	MA		—	Harvard Vanguard Medical Associates, Inc.	1910		52,337		808		831
	2023	2/28/2023	2211 South 47th St.	Phoenix	AZ		—	Avnet, Inc.	1997		176,402		826		1,080
		3/31/2023	6555 Sierra Dr.	Irving	TX		—	TXU Energy Retail Company, LLC (Texas Competitive Electric Holdings Company, LLC)	1999		247,254		1,554		1,476
			8900 Freeport Pkwy.	Irving	TX		—	Nissan Motor Acceptance Corporation (Nissan North America, Inc.) / Pacific Union Financial, LLC.	2003		225,049		1,637		1,721
		6/30/2023	12600 Gateway Blvd.	Fort Myers	FL		11	Alta Resources Corp.	1998		63,261		139		137
	N/A	N/A	1701 Market St.	Philadelphia	PA		4	Parking Operators	1957/1997		0		1,255		1,255
		Vacant	101 East Erie St.	Chicago	IL		—	(Available for Lease)	1986		17,716		0		0
			1701 Market St.	Philadelphia	PA		4	(Available for Lease)	1957/1997		5,315		0		0
			421 Butler Farm Rd.	Hampton	VA		—	(Available for Lease)	2000		20,080		0		0
			810 Gears Rd.	Houston	TX		11	(Available for Lease)	2000		76,435		134		132
OFFICE TOTAL/WEIGHTED AVERAGE								98.9% Leased			10,840,363	$	81,152	$	79,047

17

LEXINGTON REALTY TRUST

Long-Term Leases- Consolidated Portfolio - 6/30/2013

Year of Lease Expiration		Date of Lease   Expiration	Property Location	City	State	Note		Primary Tenant (Guarantor)	Property Type	Year Acquired/ Built/ Renovated/ Expanded	Sq.Ft. Leased or Available (1)		Cash Rent as of 6/30/2013 ($000) (2)		GAAP Base Rent as of 6/30/2013 ($000) (3)
LONG-TERM LEASE PROPERTIES
	2023	7/1/2023	275 South Valencia Ave.	Brea	CA		—	Bank of America, National Association	Office	1983		637,503		3,825		4,277
		12/14/2023	3333 Coyote Hill Rd.	Palo Alto	CA		—	Xerox Corporation	Office	1973/1975/1982		202,000		1,749		3,229
		12/31/2023	1601 Pratt Ave.	Marshall	MI		—	Autocam Corporation	Industrial	1979		58,707		0		0
	2024	2/14/2024	1362 Celebration Blvd.	Florence	SC		—	MED3000, Inc.	Office	2012		32,000		260		287
		5/31/2024	3476 Stateview Blvd.	Fort Mill	SC		—	Wells Fargo Bank, N.A.	Office	2002		169,083		1,380		1,219
			3480 Stateview Blvd.	Fort Mill	SC		—	Wells Fargo Bank, N.A.	Office	2004		169,218		1,861		1,607
		6/30/2024	70 Mechanic St.	Foxboro	MA		—	Invensys Systems, Inc. (Siebe, Inc.)	Office	1965/1967/1971		251,924		2,817		1,253
		9/30/2024	6277 Sea Harbor Dr.	Orlando	FL		—	Orlando/Orange County Convention & Visitor Bureau, Inc.	Office	1984/2012		44,752		0		0
		10/31/2024	1409 Centerpoint Blvd.	Knoxville	TN		—	Alstom Power, Inc.	Office	1997		84,404		882		824
		12/31/2024	12000 & 12025 Tech Center Dr.	Livonia	MI		—	Kelsey-Hayes Company (TRW Automotive Inc.)	Office	1987/1988/1990		180,230		757		682
	2025	3/14/2025	601 & 701 Experian Pkwy.	Allen	TX		—	Experian Information Solutions, Inc. / TRW, Inc.(Experian Holdings, Inc.)	Office	1981/1983		292,700		1,537		1,492
		6/30/2025	10000 Business Blvd.	Dry Ridge	KY		—	Dana Light Axle Products, LLC (Dana Holding Corporation and Dana Limited)	Industrial	1988/1999		336,350		673		673
			301 Bill Bryan Rd.	Hopkinsville	KY		—	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)	Industrial	1987/1999/2000/2006		424,904		844		844
			4010 Airpark Dr.	Owensboro	KY		—	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)	Industrial	1998/2001		211,598		604		604
			730 North Black Branch Rd.	Elizabethtown	KY		—	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)	Industrial	2001		167,770		268		268
			750 North Black Branch Rd.	Elizabethtown	KY		—	Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)	Industrial	1995/2000/2001		539,592		1,419		1,419
		7/14/2025	590 Ecology Ln.	Chester	SC		—	Boral Stone Products LLC (Boral Limited)	Industrial	2001/2005		420,597		1,006		731
		7/31/2025	7005 Cochran Rd.	Glenwillow	OH		—	Royal Appliance Mfg. Co.	Industrial	1997		458,000		1,020		1,126
		9/30/2025	10001 Richmond Ave.	Houston	TX		18	Baker Hughes Incorporated / Schlumberger Holdings Corp.	Office	1976/1984		554,385		7,000		3,688
		10/31/2025	6277 Sea Harbor Dr.	Orlando	FL		19	Wyndham Vacation Ownership, Inc. (Wyndham Worldwide Corporation)  / Aramark Corporation	Office	1984/2012		267,662		271		2,536
		11/30/2025	11707 Miracle Hills Dr.	Omaha	NE		—	Infocrossing, Inc.	Office	1989/1995		85,200		583		583
		12/31/2025	2005 East Technology Cir.	Tempe	AZ		—	Infocrossing, Inc.	Office	1998		60,000		564		564
	2026	3/30/2026	121 Technology Dr.	Durham	NH		15	Heidelberg Americas, Inc. (Heidelberger Druckmaschinen AG) / Goss International Americas, Inc. (Goss International Corporation)	Industrial	1986/2002/2003		500,500		1,701		1,269
		3/31/2026	459 Wingo Road	Byhalia	MS		—	Asics America Corporation (Asics Corporation)	Industrial	2011		513,734		1,311		1,468
		6/30/2026	351 Chamber Drive	Chillicothe	OH		—	The Kitchen Collection, Inc.	Industrial	1995/1998		475,218		514		580
		8/31/2026	25500 State Hwy. 249	Tomball	TX		—	Parkway Chevrolet, Inc. (Raymond Durdin & Jean W. Durdin)	Specialty	2005		77,076		695		707
		10/31/2026	5001 Greenwood Rd.	Shreveport	LA		—	Libbey Glass Inc. (Libbey Inc.)	Industrial	2006		646,000		1,023		1,083
		11/30/2026	250 Rittenhouse Cir.	Bristol	PA		—	Northtec LLC (The Estée Lauder Companies Inc.)	Industrial	1983/1997		241,977		524		573
			500 Kinetic Drive	Huntington	WV		—	AMZN WVCS LLC (Amazon.com, Inc.)	Office	2011		68,693		605		672
		12/29/2026	5500 New Albany Road	Columbus	OH		—	Evans, Mechwart, Hambleton & Tilton, Inc.	Office	2005		104,807		775		869
	2027	4/30/2027	2424 Alpine Rd.	Eau Claire	WI		—	Silver Spring Foods, Inc. (Huntsinger Farms, Inc.)	Industrial	1993/2004		159,000		535		501
		6/30/2027	3902 Gene Field Rd	St. Joseph	MO		—	Boehringer Ingelheim Vetmedica, Inc. (Boehringer Ingelheim USA Corporation)	Office	2012		98,849		856		997
		7/6/2027	2221 Schrock Road	Columbus	OH		—	MS Consultants, Inc.	Office	1999/2006		42,290		280		320
		8/7/2027	25 Lakeview Drive	Jessup	PA		—	TMG Health, Inc.	Office	2012		150,000		956		1,250
		10/31/2027	11201 Renner Blvd.	Lenexa	KS		—	United States of America	Office	2007		169,585		1,175		3,060
		11/30/2027	1700 Millrace Drive	Eugene	OR		17	Oregon Research Institute / Educational Policy Improvement Center	Office	2012		80,011		790		1,033
		12/31/2027	10590 Hamilton Ave.	Cincinnati	OH		—	The Hillman Group, Inc.	Industrial	1991/1994/1997/2005		248,700		380		395
	2028	3/31/2028	29-01-Borden Ave./29-10 Hunters Point Ave.	Long Island City	NY		5	FedEx Ground Package System, Inc. (Federal Express Corporation)	Industrial	2013		140,330		1,472		1,584
		4/30/2028	9655 Maroon Circle	Englewood	CO		—	Trizetto Corporation	Office	2013		166,912		280		958
		5/31/2028	3325 McFarland Blvd East	Tuscaloosa	AL		—	Gander Mountain Company	Retail	2013		42,302		108		119
		8/31/2028	9803 Edmonds Way	Edmonds	WA		—	Pudget Consumers Co-op d/b/a PCC Natural Markets	Retail	1981		35,459		301		301
	2029	1/31/2029	6226 West Sahara Ave.	Las Vegas	NV		—	Nevada Power Company	Office	1983/1994		282,000		4,035		2,127
		12/31/2029	400 East Stone Ave.	Greenville	SC		9	Canal Insurance Company	Office	1948/1981/1982/1986/1991/2006/2008		128,041		484		0
			3030 North 3rd Street	Phoenix	AZ		—	CopperPoint Mutual Insurance Company	Office	1986/2011		252,400		1,893		2,422
	2031	5/31/2031	671 Washburn Switch Rd.	Shelby	NC		—	Clearwater Paper Corporation	Industrial	2011		673,518		1,095		1,300
	2032	4/30/2032	13930 Pike Road	Missouri City	TX		—	Vulcan Construction Materials, LP (Vulcan Materials Company)	Industrial	N/A		0		880		1,062
	2038	3/31/2038	13901/14035 Industrial Road	Houston	TX		—	Industrial Terminals Management, L.L.C. (Maritime Holdings (Delaware) LLC)	Industrial	Various		132,449		1,378		1,766
	N/A	Vacant	6277 Sea Harbor Dr.	Orlando	FL		—	(Available for Lease)	Office	1984/2012		47,100		0		0
LONG-TERM LEASES TOTAL/WEIGHTED AVERAGE								99.6% Leased				11,125,530	$	53,366	$	54,322

18

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 6/30/2013

Year of Lease Expiration		Date of Lease   Expiration	Property Location	City	State	Note		Primary Tenant (Guarantor)	Year Acquired/ Built/ Renovated/ Expanded	Sq. Ft. Leased or Available (1)		Cash Rent as of 6/30/2013 ($000) (2)		GAAP Base Rent as of 6/30/2013 ($000) (3)
INDUSTRIAL PROPERTIES
	2014	1/1/2014	2415 US Hwy. 78 East	Moody	AL		20	CEVA Logistics U.S., Inc. (CEVA Logistics Holdings, B.V. / PostNL N.V.)	2004		595,346		531		531
		1/31/2014	109 Stevens St.	Jacksonville	FL		—	Wagner Industries, Inc.	1959/1967		168,800		154		154
		5/31/2014	191 Arrowhead Dr.	Hebron	OH		—	Owens Corning Insulating Systems, LLC	1999		250,410		188		188
			200 Arrowhead Dr.	Hebron	OH		—	Owens Corning Insulating Systems, LLC	2000		400,522		454		454
		12/31/2014	324 Industrial Park Rd.	Franklin	NC		—	SKF USA Inc.	1996		72,868		228		135
	2015	1/31/2015	101 Michelin Dr.	Laurens	SC		21	Michelin North America, Inc.	1991/1993		1,164,000		1,694		1,694
			7111 Crabb Rd.	Temperance	MI		22	Michelin North America, Inc.	1978/1993		744,570		1,143		1,143
		6/30/2015	1700 47th Ave North	Minneapolis	MN		—	Owens Corning / Owens Corning Roofing and Asphalt, LLC	2003		18,620		319		319
			2935 Van Vactor Dr.	Plymouth	IN		—	Bay Valley Foods, LLC	2000/2003		300,500		411		411
		12/31/2015	749 Southrock Dr.	Rockford	IL		—	Jacobson Warehouse Company, Inc. (Jacobson Distribution Company, Inc. and Jacobson Transportation Company, Inc.)	1992		150,000		238		244
	2016	2/28/2016	7670 Hacks Cross Rd.	Olive Branch	MS		—	MAHLE Clevite, Inc. (MAHLE Industries, Incorporated)	1989		268,104		477		458
		3/31/2016	19500 Bulverde Rd.	San Antonio	TX		—	Elsevier STM Inc. (Reed Elsevier Inc.)	2001		559,258		1,832		1,715
			2455 Premier Dr.	Orlando	FL		—	Walgreen Co. / Walgreen Eastern Co.	1980		205,016		254		393
		5/31/2016	291 Park Center Dr.	Winchester	VA		—	Kraft Foods Global, Inc.	2001		344,700		617		645
		6/30/2016	1133 Poplar Creek Rd.	Henderson	NC		—	Staples, Inc. / Corporate Express, Inc.	1998/2006		196,946		438		405
		9/30/2016	900 Industrial Blvd.	Crossville	TN		—	Dana Commercial Vehicle Products, LLC	1989/2006		222,200		342		342
		11/30/2016	736 Addison Rd.	Erwin	NY		—	Corning, Incorporated	2006		408,000		634		634
		12/31/2016	3686 South Central Ave.	Rockford	IL		7	Jacobson Warehouse Company, Inc. (Jacobson Distribution Company, Inc. and Jacobson Transportation Company, Inc.) / Pierce Packaging Co.	1998		90,000		202		157
	2017	2/28/2017	3456 Meyers Ave.	Memphis	TN		—	Sears, Roebuck and Co. / Sears Logistics Services	1973		780,000		798		847
		4/30/2017	3600 Army Post Rd.	Des Moines	IA		—	HP Enterprise Services, LLC	2000		405,000		1,249		1,026
		6/30/2017	7500 Chavenelle Rd.	Dubuque	IA		—	The McGraw-Hill Companies, Inc.	2001		330,988		608		582
		9/30/2017	250 Swathmore Ave.	High Point	NC		—	Steelcase Inc.	2002		244,851		554		543
		10/31/2017	1420 Greenwood Rd.	McDonough	GA		—	Versacold USA, Inc.	2000/2007		296,972		1,361		1,298
			43955 Plymouth Oaks Blvd.	Plymouth	MI		—	Tower Automotive Operations USA I, LLC  / Tower Automotive Products Inc. (Tower Automotive, Inc.)	1996/1998		290,133		689		737
		12/31/2017	2203 Sherrill Dr.	Statesville	NC		—	Ozburn-Hessey Logistics, LLC (OHH Acquisition Corporation)	1999/2002		639,800		908		958
	2018	6/30/2018	1650-1654 Williams Rd.	Columbus	OH		—	ODW Logistics, Inc.	1973		772,450		674		671
		9/30/2018	50 Tyger River Dr.	Duncan	SC		—	Plastic Omnium Auto Exteriors, LLC	2005/2007/2008		221,833		479		479
			904 Industrial Rd.	Marshall	MI		—	Tenneco Automotive Operating Company, Inc. (Tenneco, Inc.)	1968/1972/2008		246,508		382		348
		12/31/2018	120 Southeast Pkwy. Dr.	Franklin	TN		—	Essex Group, Inc. (United Technologies Corporation)	1970/1983		289,330		367		625
	2019	4/30/2019	113 Wells St.	North Berwick	ME		—	United Technologies Corporation	1965/1980		972,625		768		768
		10/17/2019	10345 Philipp Pkwy.	Streetsboro	OH		—	L'Oreal USA S/D, Inc. (L’Oreal USA, Inc.)	2004		649,250		1,259		1,305
	2020	3/31/2020	2425 Hwy. 77 North	Waxahachie	TX		—	James Hardie Building Products, Inc. (James Hardie NV & James Hardie Industries NV)	1996/2001		335,610		1,700		1,700
		5/31/2020	359 Gateway Dr.	Lavonia	GA		—	TI Group Automotive Systems, LLC (TI Automotive Ltd.)	2005		133,221		600		476
		6/30/2020	3102 Queen Palm Dr.	Tampa	FL		—	Time Customer Service, Inc. (Time Incorporated)	1986		229,605		660		638
		9/30/2020	3350 Miac Cove Rd.	Memphis	TN		—	Mimeo.com, Inc.	1987		107,400		210		196
		12/19/2020	1901 Ragu Dr.	Owensboro	KY		6	Unilever Supply Chain, Inc. (Unilever United States, Inc.)	1975/1979/1995		443,380		598		746
	2021	5/31/2021	477 Distribution Pkwy.	Collierville	TN		—	Federal Express Corporation / FedEx Techconnect, Inc.	1984/1987/2005/2012		126,213		414		375
		9/30/2021	3820 Micro Dr.	Millington	TN		—	Ingram Micro L.P. (Ingram Micro Inc.)	1997		701,819		846		928
		10/25/2021	6938 Elm Valley Dr.	Kalamazoo	MI		—	Dana Commercial Vehicle Products, LLC (Dana Holding Corporation and Dana Limited)	1999/2004		150,945		1,014		873
		11/30/2021	2880 Kenny Biggs Rd.	Lumberton	NC		—	Quickie Manufacturing Corporation	1998/2001/2006		423,280		666		678
	2022	3/31/2022	5417 Campus Drive	Shreveport	LA		—	The Tire Rack, Inc.	2012		257,849		638		670
	N/A	Vacant	3350 Miac Cove Rd.	Memphis	TN		—	(Available for Lease)	1987		32,679		0		0
INDUSTRIAL TOTAL/WEIGHTED AVERAGE								99.8% Leased			15,241,601	$	27,598	$	27,489

19

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 6/30/2013

Year of Lease Expiration	Date of Lease   Expiration	Property Location	City	State		Note		Primary Tenant (Guarantor)	Year Acquired/ Built/ Renovated/ Expanded	Gross Book Value ($000) (10)		Sq.Ft.		Percentage Leased			Cash Rent as of 6/30/2013 ($000) (2)		GAAP Base Rent as of 6/30/2013 ($000) (3)		Debt  Balance  ($000)
MULTI-TENANT PROPERTIES (8,14)
Various	Various	10 John St.	Clinton		CT		6	Multi-Tenant	1972		0		41,188		0	%		0		0		0
		100 Light St.	Baltimore		MD		13	Multi-Tenant	1973/2009		248,895		476,459		95	%		7,018		8,138		55,000
		140 East Shore Dr.	Glen Allen		VA		—	Multi-Tenant	2000		13,206		76,885		92	%		603		536		18,827
		13430 North Black Canyon Fwy.	Phoenix		AZ		—	Multi-Tenant	1981/1982/2005/2007/2009		16,723		138,940		100	%		1,367		1,354		0
		17191 St. Luke's Way	The Woodlands		TX		—	Multi-Tenant	2004		7,959		41,000		70	%		134		134		0
		207 Mockingbird Ln.	Johnson City		TN		—	Multi-Tenant	1979		12,133		60,684		48	%		325		325		0
		2210 Enterprise Dr.	Florence		SC		11	Multi-Tenant	1998		16,176		176,557		70	%		627		627		0
		2300 Litton Ln.	Hebron		KY		—	Multi-Tenant	1986/1996		9,907		80,440		100	%		196		194		0
		265 Lehigh St.	Allentown		PA		—	Multi-Tenant	1980		2,920		71,055		32	%		64		64		0
		2706 Media Center Dr.	Los Angeles		CA		—	Multi-Tenant	2000		18,070		83,252		24	%		115		115		10,281
		4200 Northcorp Pkwy.	Palm Beach Gardens		FL		—	Multi-Tenant	1996		21,271		95,065		26	%		174		174		0
		6050 Dana Way	Antioch		TN		—	Multi-Tenant	1999		15,140		672,629		70	%		764		770		0
		859 Mount Vernon Hwy.	Atlanta		GA		11	Multi-Tenant	2004		14,501		50,400		32	%		574		450		40,356
		King St./1042 Fort St. Mall	Honolulu		HI		—	Multi-Tenant	1979/2002		16,967		77,459		66	%		442		442		0
MULTI-TENANT TOTAL/WEIGHTED AVERAGE								71.4% Leased					2,142,013				$	12,403	$	13,323	$	124,464

20

LEXINGTON REALTY TRUST

Property Leases and Vacancies - Consolidated Portfolio - 6/30/2013

Year of Lease Expiration		Date of Lease   Expiration	Property Location	City	State	Note		Primary Tenant (Guarantor)	Year Acquired/ Built/ Renovated/ Expanded	Sq.Ft. Leased or Available (1)		Cash Rent as of 6/30/2013 ($000) (2)		GAAP Base Rent as of 6/30/2013 ($000) (3)
RETAIL/SPECIALTY PROPERTIES
	2014	10/31/2014	1084 East Second St.	Franklin	OH		—	Marsh Supermarkets, LLC / Crystal Food Services, LLC	1961/1978		29,119		56		71
	2015	1/31/2015	1700 State Route 160	Port Orchard	WA		—	Moran Foods, Inc. d/b/a Save-A-Lot, Ltd.	1983		16,037		44		44
		5/31/2015	24th St. West & St. John’s Ave.	Billings	MT		—	Safeway,  Inc.	1981		40,800		93		143
	2016	5/31/2016	12535 Southeast 82nd Ave.	Clackamas	OR		—	Toys "R" Us-Delaware, Inc. / Toys "R" Us, Inc.  / TRU 2005 RE I, LLC	1981		42,842		153		153
			18601 Alderwood Mall Blvd.	Lynnwood	WA		—	Toys "R" Us-Delaware, Inc. / Toys "R" Us, Inc.  / TRU 2005 RE I, LLC	1981/1993		43,105		141		141
			6910 South Memorial Hwy.	Tulsa	OK		—	Toys “R” Us, Inc. / Toys "R" Us-Delaware, Inc.	1981		43,123		128		128
	2017	3/31/2017	1610 South Westmoreland Ave.	Dallas	TX		—	Malone’s Food Stores, Ltd.	1960		70,910		181		211
		6/30/2017	1600 East 23rd St.	Chattanooga	TN		—	BI-LO, LLC	1983/1995		42,130		62		62
		12/31/2017	11411 North Kelly Ave.	Oklahoma City	OK		—	American Golf Corporation	1991/1996		13,924		237		162
	2018	2/26/2018	4831 Whipple Ave., Northwest	Canton	OH		—	Best Buy Co., Inc.	1995		46,350		232		233
		2/28/2018	291 Talbert Blvd.	Lexington	NC		—	Food Lion, LLC / Delhaize America, Inc.	1981		23,000		69		69
			3211 West Beverly St.	Staunton	VA		—	Food Lion, LLC / Delhaize America, Inc.	1971		23,000		83		83
		7/1/2018	1053 Mineral Springs Rd.	Paris	TN		—	The Kroger Co.	1982		31,170		79		84
		9/30/2018	835 Julian Ave.	Thomasville	NC		—	Mighty Dollar, LLC	1983		23,767		38		38
		10/31/2018	10340 U.S. 19	Port Richey	FL		—	Kingswere Furniture, LLC	1980		53,820		173		173
			130 Midland Ave.	Port Chester	NY		—	A&P Real Property, LLC (Pathmark Stores, Inc.)	1982		59,000		217		542
			5104 North Franklin Rd.	Lawrence	IN		—	Marsh Supermarkets, Inc. / Marsh Supermarkets, LLC	1959/1983		28,721		97		97
		12/31/2018	1150 West Carl Sandburg Dr.	Galesburg	IL		—	Kmart Corporation	1992		94,970		21		164
			12080 Carmel Mountain Rd.	San Diego	CA		—	Kmart Corporation	1993		107,210		24		376
			21082 Pioneer Plaza Dr.	Watertown	NY		—	Kmart Corporation	1993		120,727		36		241
			255 Northgate Dr.	Manteca	CA		—	Kmart Corporation	1993		107,489		38		278
			5350 Leavitt Rd.	Lorain	OH		—	Kmart Corporation	1993		193,193		54		366
			97 Seneca Trail	Fairlea	WV		—	Kmart Corporation	1993/1999		90,933		25		173
	2019	3/31/2019	N.E.C. 45th St./Lee Blvd.	Lawton	OK		—	Associated Wholesale Grocers, Inc. / Safeway, Inc.	1984		30,757		93		98
	2023	2/28/2023	US 221 & Hospital Rd.	Jefferson	NC		—	Food Lion, LLC / Delhaize America, Inc.	1981		34,555		66		78
	N/A	Vacant	1700 State Route 160	Port Orchard	WA		—	(Available for Lease)	1983		11,931		0		0
			S. Carolina 52/52 Bypass	Moncks Corner	SC		11	(Available for Lease)	1982		23,000		10		327
RETAIL/SPECIALTY TOTAL/WEIGHTED AVERAGE								97.6% Leased			1,445,583	$	2,450	$	4,535
TOTAL CONSOLIDATED PORTFOLIO/WEIGHTED AVERAGE								97.9% Leased			40,795,090	$	176,969	$	178,716

Footnotes 

1 Square foot leased or vacant.

2 Six months ended 6/30/2013 cash rent.

3 Six months ended 6/30/2013 GAAP base rent.

4 Lexington has an 80.5% interest in this property.

5 Joint venture investment. Lexington had a priority return. Subsequent to 6/30/2013, Lexington purchased its joint venture partners' interest.

6 Lexington has a 71.1% interest in this property.

7 Jacobson Warehouse Company, Inc. lease expires 12/31/2014; however, new tenant (Pierce Packaging Co.) lease expires 12/31/2016.

8 Multi-tenant properties are properties less than 50% leased to a single tenant.

9 Property is classified as a capital lease for GAAP, accordingly $497 of income is included in non-operating income.

10 Represents GAAP capitalized costs.

11 Cash and GAAP rent amounts represent/include prior tenant.

12 24,824 square feet is leased to 7/31/2025.

13 Includes parking operations.

14 The multi-tenanted properties incurred approximately $4.9 million in operating expenses, net for the six months ended 6/30/2013.

15 Heidelberg Americas, Inc. lease expires 3/30/2021, however, new tenant (Goss International Americas, Inc.) lease expires 3/30/2026.

16 RGN-Indianapolis I, LLC lease for 14,236 square feet expires 07/2024. Yellow Book Sales and Distribution Company, Inc. lease for 3,764 square feet expires 11/2013.

17 Educational Policy Improvement Center lease for 10,791 square feet expires 11/2019; however, space is then leased to Oregon Research Institute through 11/2027.

18 Baker Hughes Incorporated lease expires 09/2015; however, new tenant (Schlumberger Holdings Corp.) lease expires 09/2025.

19 Aramark Corporation lease for 8,261 square feet expires 11/2017.

20 Subsequent to 6/30/2013, lease extended to 12/31/2017.

21 Subsequent to 6/30/2013, lease extended to 1/31/2017.

22 Subsequent to 6/30/2013, lease extended to 7/31/2016.

21

LEXINGTON REALTY TRUST

Lease Rollover Schedule by Property Type - Cash Basis

6/30/2013

	Office						Industrial						Retail/Specialty						Multi-Tenant
Year	Net Rentable Area		Cash Rent as of 6/30/2013 ($000)		Annual Rent PSF (2)		Net Rentable Area		Cash Rent as of 6/30/2013 ($000)		Annual Rent PSF (2)		Net Rentable Area		Cash Rent as of 6/30/2013 ($000)		Annual Rent PSF (2)		Net Rentable Area		Cash Rent as of 6/30/2013 ($000)		Annual Rent PSF (2)
2013 - remaining		473,162	$	2,907	$	12.29		-	$	-	$	-		-	$	-	$	-		28,470	$	213	$	14.96
2014		1,479,077	$	12,217	$	16.52		1,487,946	$	1,555	$	2.09		29,119	$	56	$	3.85		115,887	$	590	$	10.18
2015		1,222,462	$	10,627	$	14.71		2,377,690	$	3,805	$	3.20		56,837	$	137	$	4.82		122,357	$	887	$	14.50
2016		1,017,000	$	6,164	$	12.12		2,294,224	$	4,796	$	4.18		129,070	$	422	$	6.54		139,185	$	1,023	$	14.70
2017		525,576	$	4,085	$	15.54		2,987,744	$	6,167	$	4.13		126,964	$	480	$	7.56		22,381	$	116	$	10.37
2018		1,321,002	$	9,572	$	14.49		1,530,121	$	1,902	$	2.49		1,003,350	$	1,186	$	3.97		131,107	$	826	$	12.60
2019		1,814,264	$	12,222	$	13.47		1,621,875	$	2,027	$	2.50		30,757	$	93	$	6.05		135,229	$	1,689	$	24.98
2020		850,249	$	6,432	$	15.13		1,249,216	$	3,768	$	6.03		-	$	-	$	-		89,992	$	258	$	5.73
2021		904,802	$	7,658	$	16.93		1,402,257	$	2,940	$	4.19		-	$	-	$	-		534,538	$	3,298	$	12.34
2022		406,073	$	3,871	$	19.07		257,849	$	638	$	4.95		-	$	-	$	-		-	$	-	$	-
2023 - Q1 & Q2		711,966	$	4,156	$	11.67		-	$	-	$	-		34,555	$	66	$	3.82		-	$	-	$	-
Thereafter		4,569,833	$	35,467	$	14.24		6,348,944	$	16,647	$	5.74		154,837	$	1,104	$	18.15		200,084	$	2,220	$	22.19
Total/Weighted Average (1)		15,295,466	$	115,378	$	14.49		21,557,866	$	44,245	$	4.25		1,565,489	$	3,544	$	5.94		1,519,230	$	11,120	$	14.64

Footnotes 

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

(2) For properties acquired cash rents are annualized.

22

LEXINGTON REALTY TRUST

Lease Rollover Schedule - Consolidated Single-Tenant Properties GAAP Basis

6/30/2013

Year	Number of  Leases  Expiring		GAAP Base  Rent as of 6/30/2013  ($000)		Percent of  GAAP Base Rent  as of  6/30/2013			Percent of  GAAP Base Rent  as of  6/30/2012
2013 - remaining		7	$	2,804		1.7	%		3.9	%
2014		25	$	14,003		8.6	%		13.4	%
2015		19	$	13,026		8.0	%		12.1	%
2016		18	$	11,652		7.1	%		6.5	%
2017		17	$	10,246		6.3	%		6.5	%
2018		30	$	13,796		8.4	%		10.2	%
2019		15	$	14,376		8.8	%		11.5	%
2020		13	$	10,078		6.2	%		4.8	%
2021		10	$	10,548		6.4	%		6.2	%
2022		6	$	4,484		2.7	%		1.8	%
2023 - Q1 & Q2		5	$	4,492		2.7	%		3.1	%
Thereafter		48	$	54,174		33.1	%		14.6	%
Total (1)		213	$	163,679		100.0	%

Footnotes

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

23

LEXINGTON REALTY TRUST

Lease Rollover Schedule - Consolidated Properties GAAP Basis

6/30/2013

Year	Number of Leases Expiring		GAAP Base Rent as of 6/30/2013 ($000)		Percent of GAAP Base Rent as of 6/30/2013
2013 - remaining		25	$	3,017		1.7	%
2014		40	$	14,593		8.3	%
2015		37	$	13,872		7.9	%
2016		31	$	12,662		7.2	%
2017		19	$	10,361		5.9	%
2018		35	$	14,615		8.3	%
2019		23	$	16,056		9.1	%
2020		16	$	10,331		5.9	%
2021		14	$	13,958		7.9	%
2022		6	$	4,484		2.6	%
2023 - Q1 & Q2		5	$	4,492		2.6	%
Thereafter		51	$	57,402		32.6	%
Total (1)		302	$	175,843		100.0	%

Footnotes

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

24

LEXINGTON REALTY TRUST

Mortgage Loans Receivable

6/30/2013

Collateral									Current  Estimated Annual
	City	State	Loan Balance ($000)(1)		Interest Rate			Maturity Date	Debt Service  ($000)(2)		Balloon Payment ($000)		Escrow Balance ($000)
Office	Schaumburg (3)	IL	$	21,636		20.00	%	01/2012	$	-	$	21,636	$	-
	Norwalk (4)	CT	$	20,262		7.50	%	11/2014	$	-	$	20,262	$	4,433
	Southfield	MI	$	6,994		4.55	%	02/2015	$	1,282	$	5,810	$	-
	Westmont (5)	IL	$	26,721		6.45	%	10/2015	$	2,090	$	25,731	$	6,468
Retail	Austin	TX	$	2,206		16.00	%	10/2018	$	-	$	5,104	$	-
	Various	Various	$	1,232		8.00	%	02/2021	$	219	$	-	$	-
	Various	Various	$	557		8.00	%	12/2021	$	94	$	-	$	-
	Various	Various	$	797		8.00	%	03/2022	$	127	$	-	$	-
Charter School	Homestead (6)	FL	$	8,646		7.50	%	08/2014	$	800	$	8,646	$	-
	Total Mortgage Loans Receivable		$	89,051					$	4,612	$	87,189	$	10,901

Footnotes

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

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

(3) Borrower currently in default and Lexington has commenced foreclosure.

(4) Lexington is committed to lend up to a maximum of $32.6 million. Escrow balance represents a security interest of $4.4 million in an account maintained by the borrower.

(5) Escrow balance includes $2.5 million in a collateral securities account maintained by the borrower and $2.5 million tenant letter of credit held by Lexington. Tenant in property exercised its option to terminate the lease effective 11/30/2013 for a termination payment of $1.3 million.

(6) Lexington is committed to lend an additional $2.0 million.

25

LEXINGTON REALTY TRUST

2013 Second Quarter Financing Summary

DEBT RETIRED (1)

		Face / Satisfaction ($000)		Rate			Maturity Date
1	Indianapolis, IN (2)	$	8,686		5.168	%	05/2013
2	Phoenix, AZ	$	16,612		6.270	%	09/2013
3	Knoxville, TN	$	4,532		5.950	%	09/2013
4	Foxboro, MA (3)	$	2,666		6.000	%	01/2014
5	Moody, AL	$	6,462		4.978	%	01/2014
6	Arlington, TX	$	18,918		5.810	%	02/2014
7	Redmond, OR	$	8,675		5.616	%	04/2014
8	Fort Mill, SC	$	18,656		5.373	%	05/2014
9	Fishers, IN	$	10,810		6.375	%	08/2014
10	Columbus IN, Las Vegas, NV, Memphis, TN	$	103,511		6.150	%	09/2014
11	Columbus IN, Las Vegas, NV, Memphis, TN	$	2,334		7.500	%	09/2014
12	Farmington Hills, MI (2)	$	17,542		7.420	%	03/2031
	TOTAL	$	219,404		6.090	%

CORPORATE LEVEL FINANCING

		Face ($000)		Rate			Maturity
1	Senior Unsecured Notes	$	250,000		4.25	%	06/2023
2	Term Loan Draw	$	64,000		2.08	%	02/2018

Footnotes

(1) Lexington incurred aggregate yield maintenance costs of $11.8 million.

(2) Property was conveyed to satisfy mortgage.

(3) Imputed interest rate.

26

LEXINGTON REALTY TRUST

Debt Maturity Schedule

6/30/2013

($000)

Consolidated Properties
Year	Real Estate Scheduled  Amortization		Real Estate Balloon Payments			Corporate Debt
2013	$	8,961	$	59,072	(a)	$	-
2014	$	30,326	$	83,003		$	-
2015	$	26,135	$	277,092		$	-
2016	$	19,977	$	148,595		$	-
2017	$	19,884	$	68,669		$	41,146	(b)
	$	105,283	$	636,431		$	41,146
Non-Consolidated Investments - LXP Proportionate Share
Year	Real Estate Scheduled  Amortization		Real Estate Balloon Payments
2013	$	707	$	-
2014	$	1,529	$	-
2015	$	1,608	$	5,469
2016	$	1,477	$	-
2017	$	94	$	2,097
	$	5,415	$	7,566

Footnotes

(a) $8,585 of balloon debt has been repaid subsequent to June 30, 2013.

(b) Assumes debt is put to Lexington in 2017; stated maturity date is January 2030. Subsequent to June 30, 2013, $12,155 of debt was satisfied through the issuance of 1.8 million common shares and a cash payment of $0.6 million.

27

LEXINGTON REALTY TRUST

2013 Mortgage Maturities by Property Type

6/30/2013

	Property Location	City	State	Net Rentable Area		Mortgage Balance at Maturity ($000)		Maturity Date	Tenant Lease Expires	Gross Book Value ($000) (1)		Cash Rent as of 6/30/2013 ($000)		GAAP Base Rent as of 6/30/2013 ($000)
Office &	12600 Gateway Blvd. (2) (3)	Fort Myers	FL		63,261	$	8,585	07/2013	06/2023	$	3,741	$	139	$	137
Multi-Tenant	1110 Bayfield Dr. (2)	Colorado Springs	CO		166,575	$	10,131	08/2013	11/2013	$	19,579	$	815	$	800
	6303 Barfield Rd./859 Mount Vernon Hwy. (2)	Atlanta	GA		289,000	$	40,356	08/2013	Various	$	76,766	$	2,784	$	1,374
	Total 2013 Mortgage Maturities				518,836	$	59,072			$	100,086	$	3,738	$	2,311

Footnotes

(1) Represents GAAP capitalized costs as of June 30, 2013.

(2) Loan in default as of June 30, 2013.

(3) Amount satisfied subsequent to June 30, 2013.

28

LEXINGTON REALTY TRUST

2014 Mortgage Maturities by Property Type

6/30/2013

	Property Location	City	State	Net Rentable Area		Mortgage Balance  at Maturity ($000)		Maturity Date	Tenant Lease Expires	Gross  Book  Value  ($000) (1)		Cash Rent  as of  6/30/2013  ($000)		GAAP  Base Rent  as of  6/30/2013 ($000)
Office	1701 Market St. (2)	Philadelphia	PA		304,037	$	43,520	07/2014	Various	$	73,183	$	3,623	$	3,537
	22011 Southeast 51st St./5150 220th Ave.	Issaquah	WA		202,544	$	30,388	12/2014	12/2014	$	51,419	$	2,290	$	2,092
	275 Technology Dr.	Canonsburg	PA		107,872	$	9,095	12/2014	12/2014	$	15,739	$	715	$	689
	Total 2014 Mortgage Maturities				614,453	$	83,003			$	140,341	$	6,628	$	6,318

Footnotes

(1) Represents GAAP capitalized costs as of June 30, 2013.

(2) Lexington has an 80.5% interest in the property and amounts include parking operations.

29

LEXINGTON REALTY TRUST

2015 Mortgage Maturities by Property Type

6/30/2013

	Property Location	City	State	Net Rentable Area		Mortgage Balance at Maturity ($000)		Maturity Date	Tenant Lease Expires	Gross  Book  Value  ($000) (1)		Cash Rent  as of  6/30/2013  ($000)		GAAP  Base Rent  as of  6/30/2013 ($000)
Office &	101 East Erie St.	Chicago	IL		230,704	$	29,900	01/2015	03/2014	$	56,548	$	2,075	$	2,510
Multi-Tenant	400 East Stone Ave. (2)	Greenville	SC		128,041	$	9,000	01/2015	12/2029	$	10,699	$	484	$	-
	4201 Marsh Ln.	Carrollton	TX		130,000	$	12,022	01/2015	11/2022	$	22,146	$	1,009	$	933
	13775 McLearen Rd.	Herndon	VA		132,617	$	10,359	04/2015	07/2020	$	25,443	$	875	$	919
	10475 Crosspoint Blvd.	Indianapolis	IN		141,047	$	11,205	05/2015	10/2019	$	22,591	$	1,129	$	1,168
	100, 120, 140 East Shore Dr.	Glen Allen	VA		222,048	$	18,321	05/2015	Various	$	38,140	$	1,561	$	1,506
	1311 Broadfield Blvd.	Houston	TX		155,040	$	14,431	05/2015	03/2021	$	29,999	$	1,163	$	1,312
	1409 Centerpoint Blvd.	Knoxville	TN		84,404	$	6,658	05/2015	10/2024	$	12,604	$	882	$	824
	2550 Interstate Dr.	Harrisburg	PA		89,350	$	7,792	05/2015	12/2018	$	15,255	$	972	$	917
	2706 Media Center Dr. (3)	Los Angeles	CA		83,252	$	9,760	05/2015	Vacant / 2015	$	18,070	$	115	$	115
	2800 Waterford Lake Dr.	Midlothian	VA		99,057	$	9,055	05/2015	12/2021	$	15,850	$	1,055	$	1,070
	333 Mt. Hope Ave.	Rockaway	NJ		95,500	$	14,900	05/2015	09/2014	$	29,295	$	1,122	$	1,061
	6200 Northwest Pkwy.	San Antonio	TX		142,500	$	11,167	05/2015	11/2017	$	20,813	$	891	$	933
	16676 Northchase Dr.	Houston	TX		101,111	$	11,282	05/2015	07/2014	$	19,369	$	845	$	814
	2500 Patrick Henry Pkwy.	McDonough	GA		111,911	$	11,349	06/2015	06/2015	$	16,000	$	782	$	689
	3711 San Gabriel	Mission	TX		75,016	$	5,371	06/2015	06/2015	$	7,600	$	530	$	426
	4001 International Pkwy.	Carrollton	TX		138,443	$	18,710	07/2015	07/2015	$	30,859	$	1,606	$	1,597
	2529 West Thorne Dr.	Houston	TX		65,500	$	2,203	09/2015	09/2015	$	5,400	$	789	$	326
	10001 Richmond Ave.	Houston	TX		554,385	$	18,161	09/2015	09/2025	$	78,887	$	7,000	$	3,688
Industrial	324 Industrial Park Rd.	Franklin	NC		72,868	$	-	04/2015	12/2014	$	2,300	$	228	$	135
	6938 Elm Valley Dr.	Kalamazoo	MI		150,945	$	15,087	05/2015	10/2021	$	21,970	$	1,014	$	873
	10000 Business Blvd.	Dry Ridge	KY		336,350	$	3,646	07/2015	06/2025	$	15,227	$	673	$	673
	301 Bill Bryan Rd.	Hopkinsville	KY		424,904	$	7,772	07/2015	06/2025	$	19,066	$	844	$	844
	4010 Airpark Dr.	Owensboro	KY		211,598	$	3,163	07/2015	06/2025	$	13,598	$	604	$	604
	730 North Black Branch Rd.	Elizabethtown	KY		167,770	$	2,499	07/2015	06/2025	$	6,055	$	268	$	268
	750 North Black Branch Rd.	Elizabethtown	KY		539,592	$	13,279	07/2015	06/2025	$	32,222	$	1,419	$	1,419
	Total 2015 Mortgage Maturities				4,683,953	$	277,092			$	586,006	$	29,935	$	25,624

Footnotes

(1) Represents GAAP capitalized costs as of June 30, 2013.

(2) Property is classified as a capital lease for GAAP, accordingly $497 of GAAP income is included in non-operating income.

(3) Loan in default as of June 30, 2013.

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2016 Mortgage Maturities by Property Type

6/30/2013

	Property Location	City	State	Net Rentable Area		Mortgage Balance at Maturity ($000)		Maturity Date	Tenant Lease Expires	Gross  Book  Value  ($000) (1)		Cash Rent  as of  6/30/2013  ($000)		GAAP  Base Rent  as of  6/30/2013 ($000)
Office	1600 Eberhardt Rd.	Temple	TX		108,800	$	7,463	01/2016	01/2016	$	12,161	$	837	$	673
	700 US Hwy. Route 202-206	Bridgewater	NJ		115,558	$	13,825	03/2016	10/2014	$	31,662	$	1,017	$	1,285
	11707 Miracle Hills Dr	Omaha	NE		85,200	$	7,560	04/2016	11/2025	$	13,853	$	583	$	583
	1400 Northeast McWilliams Rd.	Bremerton	WA		60,200	$	5,479	04/2016	07/2016	$	9,906	$	608	$	608
	2005 East Technology Circle	Tempe	AZ		60,000	$	7,140	04/2016	12/2025	$	12,199	$	564	$	564
	850-950 Warrenville Rd	Lisle	IL		99,414	$	9,377	06/2016	2014/2019	$	17,388	$	797	$	852
	11511 Luna Rd	Farmers Branch	TX		180,507	$	18,363	07/2016	04/2016	$	29,984	$	1,177	$	1,594
	180 South Clinton St	Rochester	NY		226,000	$	16,765	08/2016	12/2014	$	30,880	$	1,505	$	1,502
Industrial	459 Wingo Road	Byhalia	MS		513,734	$	15,000	06/2016	03/2026	$	27,492	$	1,311	$	1,468
	2203 Sherrill Dr	Statesville	NC		639,800	$	12,574	08/2016	12/2017	$	21,266	$	908	$	958
	3686 S. Central Ave. / 749 Southrock Dr	Rockford	IL		240,000	$	6,153	08/2016	2016/2015	$	10,919	$	440	$	401
	2935 Van Vactor Dr.	Plymouth	IN		300,500	$	5,723	09/2016	06/2015	$	9,200	$	411	$	411
	7005 Cochran Road	Glenwillow	OH		458,000	$	15,132	09/2016	07/2025	$	28,665	$	1,020	$	1,126
Specialty	25500 State Hwy. 249	Tomball	TX		77,076	$	8,041	11/2016	08/2026	$	15,776	$	695	$	707
	Total 2016 Mortgage Maturities				3,164,789	$	148,595			$	271,351	$	11,873	$	12,732

Footnotes

(1) Represents GAAP capitalized cost at June 30, 2013.

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2017 Mortgage Maturities by Property Type

6/30/2013

	Property Location	City	State	Net Rentable Area		Mortgage Balance at Maturity ($000)		Maturity Date	Tenant Lease Expires	Gross  Book  Value  ($000) (1)		Cash Rent  as of  6/30/2013  ($000)		GAAP  Base Rent  as of  6/30/2013 ($000)
Office	104 & 110 South Front St.	Memphis	TN		37,229	$	3,484	01/2017	10/2016	$	5,586	$	259	$	251
	9200 South Park Center Loop	Orlando	FL		59,927	$	9,309	02/2017	09/2020	$	14,925	$	459	$	465
	500 Kinetic Drive	Huntington	WV		68,693	$	6,500	02/2017	11/2026	$	12,558	$	605	$	672
Industrial	7500 Chavenelle Rd.	Dubuque	IA		330,988	$	8,725	06/2017	06/2017	$	11,660	$	608	$	582
	5001 Greenwood Rd.	Shreveport	LA		646,000	$	19,000	07/2017	10/2026	$	26,678	$	1,023	$	1,083
	1420 Greenwood Rd.	McDonough	GA		296,972	$	21,651	11/2017	10/2017	$	30,897	$	1,361	$	1,298
	Total 2017 Mortgage Maturities				1,439,809	$	68,669			$	102,304	$	4,315	$	4,351

Footnotes

(1) Represents GAAP capitalized cost at June 30, 2013.

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Consolidated Properties: Mortgages and Notes Payable

6/30/2013

Property	Footnotes	Debt  Balance  ($000)		Interest  Rate  (%)			Maturity (a)	Current Estimated Annual Debt Service ($000) (d)		Balloon Payment ($000)
Fort Myers, FL	(i)(m)	$	8,585		5.268	%	07/2013	$	-	$	8,585
Colorado Springs, CO	(i)		10,131		6.250	%	08/2013		-		10,131
Atlanta, GA	(i)		40,356		5.268	%	08/2013		-		40,356
Philadelphia, PA	(e)		44,440		5.060	%	07/2014		3,178		43,520
Issaquah, WA	(b)		30,883		5.665	%	12/2014		2,113		30,388
Canonsburg, PA	(b)		9,089		5.426	%	12/2014		489		9,095
Chicago, IL	(b)		29,656		5.639	%	01/2015		1,548		29,900
Greenville, SC			9,000		5.500	%	01/2015		495		9,000
Carrollton, TX			12,493		5.530	%	01/2015		993		12,022
Herndon, VA	(b)		10,808		5.885	%	04/2015		888		10,359
Franklin, NC			438		8.500	%	04/2015		271		-
Kalamazoo, MI			16,195		5.411	%	05/2015		1,189		15,087
Glen Allen, VA	(b)		18,827		5.377	%	05/2015		1,292		18,321
Houston, TX			15,057		5.160	%	05/2015		1,114		14,431
Rockaway, NJ			14,900		5.292	%	05/2015		799		14,900
Houston, TX			11,768		5.210	%	05/2015		874		11,282
Indianapolis, IN			11,691		5.160	%	05/2015		865		11,205
San Antonio, TX			11,617		5.340	%	05/2015		875		11,167
Los Angeles, CA	(i)		10,281		5.110	%	05/2015		750		9,760
Midlothian, VA			9,439		5.310	%	05/2015		708		9,055
Harrisburg, PA			8,133		5.110	%	05/2015		599		7,792
Knoxville, TN			6,940		5.310	%	05/2015		520		6,658
McDonough, GA			11,779		5.212	%	06/2015		836		11,349
Mission, TX			5,637		5.783	%	06/2015		462		5,371
Carrollton, TX	(b)		19,262		5.725	%	07/2015		1,382		18,710
Elizabethtown, KY	(j)		13,923		4.990	%	07/2015		1,039		13,279
Hopkinsville, KY			8,149		4.990	%	07/2015		608		7,772
Dry Ridge, KY	(n)		3,823		4.990	%	07/2015		285		3,646
Owensboro, KY	(n)		3,316		4.990	%	07/2015		248		3,163
Elizabethtown, KY	(j)		2,620		4.990	%	07/2015		196		2,499
Houston, TX	(b)		29,933		6.250	%	09/2015		8,404		18,161
Houston, TX			3,453		8.036	%	09/2015		952		2,203
Temple, TX			8,442		6.090	%	01/2016		668		7,463
Bridgewater, NJ			14,374		5.732	%	03/2016		1,035		13,825
Omaha, NE			8,030		5.610	%	04/2016		621		7,560
Bremerton, WA			6,340		6.090	%	04/2016		494		5,479
Tempe, AZ			7,584		5.610	%	04/2016		586		7,140
Byhalia, MS			15,000		4.710	%	06/2016		707		15,000
Lisle, IL			9,839		6.500	%	06/2016		793		9,377
Farmers Branch, TX	(b)		18,447		5.939	%	07/2016		1,136		18,363
Rochester, NY	(f)		17,679		6.210	%	08/2016		1,383		16,765
Statesville, NC	(f)		13,260		6.210	%	08/2016		1,037		12,574
Rockford, IL	(f)		6,489		6.210	%	08/2016		508		6,153
Glenwillow, OH			15,967		6.130	%	09/2016		1,240		15,132
Plymouth, IN			6,085		6.315	%	09/2016		497		5,723
Tomball, TX			9,283		6.063	%	11/2016		683		8,041
Memphis, TN			3,711		5.710	%	01/2017		275		3,484
Huntington, WV			6,500		4.150	%	02/2017		270		6,500
Orlando, FL			9,800		5.722	%	02/2017		696		9,309
Dubuque, IA			9,623		5.402	%	06/2017		733		8,725
Shreveport, LA			19,000		5.690	%	07/2017		1,096		19,000
McDonough, GA			22,910		6.110	%	11/2017		1,674		21,651
Lorain, OH	(b)		1,219		7.750	%	07/2018		108		-
Manteca, CA	(b)		861		7.750	%	07/2018		77		-

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Consolidated Properties: Mortgages and Notes Payable

6/30/2013

Property	Footnotes	Debt  Balance  ($000)		Interest  Rate  (%)			Maturity (a)	Current Estimated Annual Debt Service ($000) (d)		Balloon Payment ($000)
Watertown, NY	(b)		810		7.750	%	07/2018		72		-
Lewisburg, WV	(b)		569		7.750	%	07/2018		51		-
San Diego, CA	(b)		549		7.750	%	07/2018		49		-
Galesburg, IL	(b)		483		7.750	%	07/2018		43		-
Erwin, NY			8,885		5.910	%	10/2018		728		6,637
Boston, MA			12,871		6.100	%	12/2018		996		11,520
North Berwick, ME			8,061		3.560	%	04/2019		1,532		-
Overland Park, KS	(b)		35,564		5.891	%	05/2019		2,657		31,867
Kansas City, MO	(b)		16,959		5.883	%	05/2019		1,268		15,182
Meridian, ID			10,355		6.010	%	08/2019		753		7,675
Streetsboro, OH	(b)		18,360		5.749	%	09/2019		1,344		16,338
Lenexa, KS			10,414		6.270	%	12/2019		774		7,770
Boca Raton, FL			20,209		6.470	%	02/2020		1,542		18,414
Oakland, ME			9,337		5.930	%	10/2020		750		7,660
Lavonia, GA			8,389		5.460	%	12/2020		741		5,895
Wall, NJ	(b)		22,791		6.250	%	01/2021		3,312		-
Charleston, SC			7,350		5.850	%	02/2021		466		6,632
Whippany, NJ			14,780		6.298	%	11/2021		1,344		10,400
Baltimore, MD			55,000		4.320	%	06/2023		2,376		47,676
Palo Alto, CA			58,838		3.970	%	12/2023		5,165		-
Chester, SC			10,295		5.380	%	08/2025		1,144		362
Lenexa, KS			40,000		3.700	%	11/2027		2,382		10,000
Remaining (l)		$	1,043,934		5.428	%	4.4	$	79,778	$	840,459
Corporate (k)
Term Loan		$	64,000		2.079	%	02/2018	$	1,349	$	64,000
Term Loan			255,000		3.173	%	01/2019		8,204		255,000
Senior Notes	(h)		250,000		4.250	%	06/2023		10,625		250,000
Convertible Notes	(o)(c)		41,146		6.000	%	01/2030		2,469		41,146
Trust Preferred Notes	(g)		129,120		6.804	%	04/2037		8,785		129,120
Subtotal/Wtg. Avg./Years Remaining (l)		$	739,266		4.234	%	10.0	$	31,432	$	739,266
Total/Wtg. Avg./Years Remaining (l)		$	1,783,200		4.933	%	6.7	$	111,210	$	1,579,725

Footnotes

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

(b) Debt balances based upon imputed interest rates.

(c) Represents full payable of notes; discount of $2,480 excluded from balance. Subsequent to 6/30/2013, $12,155 of notes converted to 1.8 million common shares.

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

(e) Lexington has an 80.5% interest in this property.

(f) Properties are cross-collateralized.

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

(h) Represents full payable of notes; discount of $2,415 excluded from balance.

(i) Loan is in default as of 6/30/2013.

(j) Properties are cross-collateralized.

(k) Unsecured.

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

(m) Debt satisfied subsequent to 6/30/2013.

(n) Properties are cross-collateralized.

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

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Non- Consolidated Investments: Mortgages & Notes Payable

6/30/2013

Joint Venture	Debt Balance ($000)		LXP  Proportionate  Share  ($000) (3)		Interest  Rate  (%)			Maturity		Current Estimated Annual Debt Service ($000)		Balloon Payment ($000)		Proportionate  Share Balloon  Payment  ($000) (3)
Oklahoma TIC	$	14,109	$	5,644		5.240	%		05/2015	$	976	$	13,673	$	5,469
One Summit		9,474	$	2,843		9.375	%		10/2016		3,344		-		-
One Summit		6,392	$	1,918		10.625	%		11/2016		2,239		-		-
Rehab Humble Lessee		15,006	$	2,251		4.700	%		05/2017		950		13,982		2,097
Gan Palm Beach Lessee		15,160	$	3,790		3.700	%		03/2018		842		13,768		3,442
Total/Wtg. Avg. (1)/Years Remaining (2)	$	60,141	$	16,446		6.15	%		3.2	$	8,351	$	41,423	$	11,008

Footnotes

(1) Weighted-average interest rate based on proportionate share.

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

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

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Partnership Interests

Six months ended June 30, 2013

($000)

Noncontrolling Interest Properties - Partners' Proportionate Share (1)
EBITDA	$	394
Interest expense	$	256
Depreciation and amortization	$	413
Non-Consolidated Net Leased Real Estate - Lexington's Share
EBITDA	$	2,341
Interest expense	$	504

Footnotes

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

36

LEXINGTON REALTY TRUST

Selected Balance Sheet and Income Statement Account Data

6/30/2013

($000)

Balance Sheet
Other assets	$	38,566
The components of other assets are:
Deposits	$	395
Build-to-suit deposit		1,191
Investments- capital lease		10,699
Equipment		435
Prepaids		4,054
Other receivables		969
Deferred tax asset		768
Deferred lease incentives		16,004
Interest rate swap derivative asset		3,912
Other		139
Accounts payable and other liabilities	$	56,891
The components of accounts payable and other liabilities are:
Accounts payable and accrued expenses	$	11,747
CIP accruals and other		7,544
Taxes		377
Deferred lease and loan costs		13,861
Subordinated notes		2,397
Deposits		1,837
Escrows		1,879
Transaction / build-to-suit costs		17,249
Income Statement - Six months ended June 30, 2013
Non-cash interest expense, net	$	503

37

LEXINGTON REALTY TRUST

Select Credit Metrics

	6/30/2012			6/30/2013
Company FFO Payout Ratio		52.1	%		60.0	%
Unencumbered Assets (1)(2)	$	1.38 billion		$	2.46 billion
Unencumbered NOI (1)		31.2	%		55.0	%
Debt + Preferred / Gross Assets		48.6	%		40.4	%
Debt/Gross Assets		42.5	%		38.3	%
Market Cap Leverage		52.1	%		40.3	%
Secured Debt / Gross Assets (1)		30.7	%		22.4	%
Net Debt / EBITDA		5.8	x		5.8	x
Net Debt + Preferred / EBITDA		6.6	x		6.1	x
Credit Facilities Availability	$	270.3 million		$	578.4 million
Development / Gross Assets		1.8	%		0.7	%
EBITDA / Revenue		80.8	%		78.3	%
EBITDA / PrefDiv + Interest Expense		2.5	x		3.0	x
JV + Advisory Income / Revenues		6.4	%		0.3	%

Footnotes

(1) Revolving credit facility and term loans are currently unsecured; accordingly, 6/30/2012 amounts reflect such borrowings as unsecured.

(2) Includes loans receivable.

38

LEXINGTON REALTY TRUST

Historical Credit Metrics Summary

	2008			2009			2010			2011			2012
Company FFO Payout Ratio		74.5	%		49.6	%		43.2	%		48.5	%		56.1	%
Unencumbered Assets (1)(2)	$	1.18 billion		$	1.36 billion		$	1.49 billion		$	1.15 billion		$	1.76 billion
Unencumbered NOI (1)		27.3	%		21.0	%		22.9	%		25.9	%		34.8	%
Debt + Preferred / Gross Assets		56.9	%		54.5	%		49.4	%		48.7	%		46.6	%
Debt/Gross Assets		49.4	%		46.9	%		41.5	%		40.9	%		41.1	%
Market Cap Leverage		72.9	%		65.3	%		53.7	%		52.5	%		46.6	%
Secured Debt / Gross Assets (1)		37.0	%		36.8	%		33.0	%		31.9	%		30.9	%
Net Debt / EBITDA		5.4	x		6.1	x		5.6	x		5.5	x		6.5	x
Net Debt + Preferred / EBITDA		6.3	x		7.1	x		6.7	x		6.6	x		7.3	x
Credit Facilities Availability	$	173.3 million		$	96.6 million		$	215.9 million		$	294.3 million		$	296.3 million
Development / Gross Assets		0.5	%		0.3	%		0.7	%		0.9	%		1.6	%
EBITDA / Revenue		92.6	%		81.4	%		80.1	%		77.0	%		76.5	%
EBITDA / PrefDiv + Interest Expense		2.4	x		2.2	x		2.2	x		2.3	x		2.4	x
JV + Advisory Income or (loss) / Revenues		N/A			N/A			5.9	%		8.5	%		4.4	%
Capital Raised (Retired), net (millions):
Common equity, net	$	30.2		$	20.0		$	166.7		$	99.7		$	162.7
Preferred equity, net	$	(7.5	)	$	0.0		$	0.0		$	(15.5	)	$	(70.0	)
Unsecured debt, gross (1)	$	(119.0	)	$	46.0		$	82.5		$	0.0		$	190.4
Secured debt, gross	$	(293.5	)	$	(291.9	)	$	(305.3	)	$	(121.3	)	$	(198.3	)
Property dispositions net proceeds	$	334.2		$	113.1		$	80.2		$	124.0		$	155.2

Footnotes:

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

(2) Includes loans receivable.

39

LEXINGTON REALTY TRUST

Other Data

6/30/2013

($000)

Base Rent Estimates for Current Assets

Year	Cash  (1)		GAAP  (1)
2013 - remaining	$	165,956	$	178,556
2014	$	339,233	$	344,246
2015	$	301,794	$	303,808
2016	$	269,773	$	270,965
2017	$	244,051	$	243,164

Other Revenue Data

	GAAP  Base Rent  as of  6/30/13 (2)		6/30/13 Percentage			6/30/12 Percentage
Asset Class
Office	$	79,047		44.2	%		56.7	%
Long-term leases (3)	$	54,322		30.4	%		17.3	%
Industrial	$	27,489		15.4	%		14.8	%
Multi-tenant	$	13,323		7.5	%		7.8	%
Retail/Specialty	$	4,535		2.5	%		3.4	%
	$	178,716		100.0	%		100.0	%
Credit Ratings  (4)
Investment Grade	$	85,311		47.7	%		49.3	%
Non-Investment Grade	$	25,174		14.1	%		15.2	%
Unrated	$	68,231		38.2	%		35.5	%
	$	178,716		100.0	%		100.0	%

Same-Store NOI ⁽⁵⁾⁽⁶⁾

	Six months ended June 30
	2013			2012
Total Base Rent	$	141,617		$	142,595
Tenant Reimbursements		14,757			14,225
Property Operating Expenses		(29,603	)		(26,856	)
Same-Store NOI	$	126,771		$	129,964
Change in Same-Store NOI		(2.5	)%

Weighted-Average Lease Term

As of 6/30/13	As of 6/30/12
7.7 years	6.5 years

Footnotes

(1) Amounts assume (1) lease terms for non-cancellable periods only and (2) no new or renegotiated leases are entered into after 6/30/2013.

(2) Six months ended 6/30/2013 GAAP base rent recognized for consolidated properties owned as of 6/30/2013.

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

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

(5) NOI is on a consolidated cash basis.

(6) Excludes properties acquired and sold in 2013 and 2012.

40

LEXINGTON REALTY TRUST

Top 20 Markets

6/30/2013

	Core Based Statistical Area (2)	Percent of  GAAP Base  Rent as of  6/30/13  (1)
1	Dallas-Fort Worth-Arlington, TX		8.2	%
2	Houston-Sugar Land-Baytown, TX		5.8	%
3	Baltimore-Towson, MD		4.6	%
4	Memphis, TN-MS-AR		4.5	%
5	Phoenix-Mesa-Scottsdale, AZ		4.2	%
6	New York-Northern New Jersey-Long Island, NY-NJ-PA		4.1	%
7	Kansas City, MO-KS		4.1	%
8	Orlando-Kissimmee, FL		3.6	%
9	Boston-Cambridge-Quincy, MA-NH		2.9	%
10	Los Angeles-Long Beach-Santa Ana, CA		2.8	%
11	Atlanta-Sandy Springs-Marietta, GA		2.4	%
12	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD		2.3	%
13	Columbus, OH		2.1	%
14	Chicago-Naperville-Joliet, IL-IN-WI		1.9	%
15	Detroit-Warren-Livonia, MI		1.8	%
16	San Jose-Sunnyvale-Santa Clara, CA		1.8	%
17	Denver-Aurora, CO		1.8	%
18	Indianapolis-Carmel, IN		1.7	%
19	Charlotte-Gastonia-Concord, NC-SC		1.6	%
20	San Antonio, TX		1.5	%
	Total Top 20 Markets (3)		63.5	%

Footnotes

(1) Six months ended 6/30/2013 GAAP base rent recognized for consolidated properties owned as of 6/30/2013.

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

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

41

LEXINGTON REALTY TRUST

Tenant Industry Diversification

6/30/2013

Industry Category	Percent of  GAAP Base  Rent as of  6/30/2013 (1) (2)
Finance/Insurance		13.7	%
Technology		11.3	%
Service		9.5	%
Automotive		8.8	%
Energy		8.6	%
Consumer Products		7.5	%
Transportation/Logistics		7.4	%
Healthcare		5.7	%
Telecommunications		5.1	%
Construction/Materials		3.7	%
Food		3.4	%
Media/Advertising		3.1	%
Aerospace/Defense		2.8	%
Printing/Production		2.4	%
Apparel		1.7	%
Education		1.6	%
Retail Department		1.5	%
Retail Specialty		1.2	%
Real Estate		0.9	%
Retail Electronics		0.1	%
		100.0	%

Footnotes

(1) Six months ended 6/30/2013 GAAP base rent recognized for consolidated properties owned as of 6/30/2013.

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

42

LEXINGTON REALTY TRUST

Top 10 Tenants or Guarantors

6/30/2013

Tenants or Guarantors	Number of Leases	Sq. Ft. Leased		Sq. Ft. Leased as a Percent of Consolidated Portfolio (2)			GAAP Base Rent as of 6/30/2013 ($000) (1)		Percent of GAAP Base Rent as of 6/30/2013 ($000) (1) (2)
Federal Express Corporation	3		787,829		1.9	%	$	5,466		3.1	%
Metalsa Structural Products, Inc. / Dana Structural Products, LLC (Dana Holding Corporation and Dana Limited)	7		2,053,359		5.0	%	$	5,023		2.8	%
US Government	2		329,229		0.8	%	$	4,761		2.7	%
Bank of America, National Association	8		691,893		1.7	%	$	4,702		2.6	%
Baker Hughes, Inc.	2		619,885		1.5	%	$	4,014		2.2	%
Swiss Re America Holding Corporation / Westport Insurance Corporation	2		476,123		1.2	%	$	3,602		2.0	%
Morgan, Lewis & Bockius LLP (3)	1		289,432		0.7	%	$	3,403		1.9	%
Xerox Corporation	1		202,000		0.5	%	$	3,229		1.8	%
Invensys Systems, Inc. (Siebe, Inc.)	2		416,613		1.0	%	$	3,098		1.7	%
T-Mobile USA, Inc.	5		386,078		0.9	%	$	2,857		1.6	%
	33		6,252,441		15.3	%	$	40,155		22.5	%

Footnotes

(1) Six months ended 6/30/2013 GAAP base rent recognized for consolidated properties owned as of 6/30/2013.

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

(3) Includes parking operations. Lexington has an 80.5% interest in this property.

43

Investor Information

Transfer Agent
Computershare		Overnight Correspondence:
PO Box 43006		250 Royall Street
Providence, RI 02940-3006		Canton, MA 02021
(800) 850-3948
www-us.computershare.com/investor
Investor Relations
Patrick Carroll
Executive Vice President and Chief Financial Officer
Telephone (direct)	(212) 692-7215
Facsimile (main)	(212) 594-6600
E-mail	pcarroll@lxp.com
Research Coverage

Bank of America/Merrill Lynch		KeyBanc Capital Markets Inc.
James Feldman	(646) 855-5808	Craig Mailman	(917) 368-2316
Barclays Capital		Ladenburg Thalmann & Co., Inc.
Ross L. Smotrich	(212) 526-2306	Daniel P. Donlan	(212) 409-2056
Evercore Partners		Stifel Nicolaus
Sheila K. McGrath	(212) 497-0882	John W. Guinee	(443) 224-1307
J.P. Morgan Chase		Wells Fargo Securities, LLC
Anthony Paolone	(212) 622-6682	Todd J. Stender	(212) 214-8067
Jeffries & Company, Inc.
Omotayo Okusanya	(212) 336-7076

44

EX-99.2

Exhibit 99.2

Raw Transcript

07-Aug-2013

Lexington Realty Trust (LXP)

Q2 2013 Earnings Call

Total Pages: 19
Copyright © 2001-2013 FactSet CallStreet, LLC

Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

MANAGEMENT DISCUSSION SECTION

Operator: Please stand by. We're about to begin. Good morning and welcome to the Lexington Realty Trust Second Quarter 2013 Earnings Conference Call. At this time, all participants have been placed in a listen-only mode and the floor will be open for your questions following the presentation. Today's conference is being recorded.

It is now my pleasure to turn the floor over to your host, Gabby Reyes, Investor Relations for Lexington Realty Trust. Please go ahead, ma'am.

Gabriela Reyes

Hello, and welcome to the Lexington Realty Trust second quarter conference call. The earnings press release was distributed over the wire this morning, and the release and supplemental disclosure package will be furnished in the Form 8-K. In the press release and supplemental disclosure package, Lexington has reconciled all historical non-GAAP financial measures to the most directly comparable GAAP measure in accordance with Reg G requirements. If you did not receive a copy, these documents are available on Lexington's website at www.lxp.com in the Investor Relations section. Additionally, we are hosting a live webcast of today's call, which you can access in the same section.

At this time, we would like to inform you that certain statements made during this conference call, which are not historical, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Lexington believes expectations reflected in any forward -looking statements are based on reasonable assumptions, Lexington can give no assurance that its expectations will be attained.

Factors and risks that could cause actual results to differ materially from those expressed or implied by forward -looking statements are detailed in today's press release and from time -to-time in Lexington's filings with the SEC. Lexington does not undertake a duty to update any forward-looking statements.

Joining me today from management are Will Eglin, Chief Executive Officer; Robert Roskind, Chairman; Rick Rouse, Chief Investment Officer; Patrick Carroll, Chief Financial Officer; and other members of management.

T. Wilson Eglin

Thanks, Gabby, and welcome to everyone and thank you for joining the call today. As always, I'd like to begin by discussing our operating results and accomplishments for the quarter. For the second quarter, our company funds from operations, as adjusted, were $0.25 per share, and we continued executing very well in all areas that impact our business.

The quarter was characterized by strong leasing activity of 2.1 million square feet of renew leases signed leading to an overall portfolio occupancy rate of approximately 97.9% at quarter end. And we completed an additional 2.5 million square feet of leases subsequent to quarter end.

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Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

In addition, we had solid execution on the investment front with property investments closed totaling $47.1 million. We funded an additional $7.7 million in our current build -to-suit projects and we placed two new build-to-suit projects under contract for $37 million. We believe our pipeline of similar opportunities remains robust, and we currently expect to fund investments or at least $350 million to $400 million in 2013 at an initial average yields in excess of 7.8%.

We also made further progress on capital recycling trimming $72.8 million of non-core assets from the portfolio. Further, we continue to improve our balance sheet and lower our cost of capital obtaining credit ratings from both Moody's and Standard & Poor's, and successfully completing our first unsecured investment grade rated senior notes offering earlier than planned.

In the quarter we retired $219.4 million of secured debt at a weighted average interest rate of 6.1%. With respect to leasing, we continue to achieve a stronger pace of activity. In the second quarter of 2013, we executed a total of 2.1 million square feet of new leases and lease extensions and of this total, 1.8 million square feet were related to properties including six 10-year leases totaling 783,000 square feet. During the quarter, we had two leases totaling 87,000 square feet which expired and were not renewed. Overall in the quarter, we extended 17 leases with annual GAAP rents of $22 million, which represented a decrease of $400,000 compared to the previous rents.

Looking ahead, we currently have 3.9 million square feet of space subject to leases that expire through 2014 or which are currently vacant. We believe that through the end of next year, we can address roughly half of such expiring or vacant square footage through extensions and dispositions. And overall, we are presently negotiating leases for approximately 2.5 million square feet.

As a result of our leasing activity and new investments, we now generate more than 30% of our revenue from leases of 10 years or longer compared to approximately 17 % a year ago. Over time, our goal continues to be to derive at least half of our revenue from leases 10 years or longer providing additional cash flow visibility. Further, our single-tenant lease rollover through 2017 has been reduced to 31.7 % of revenue from 42.4% at quarter end a year ago. By any measure, we believe we're making good progress in managing down our exposure to shorter term leases and extending our weighted average lease term which was 7.7 years at quarter end compared to 6.5 years last year.

Each of these metrics is an important measure of cash flow stability and we will continue to be focused on further improvement.

Supplementing our leasing and capital markets success, we continue to add value through accretive acquisition of properties subject to long term net leases. We closed on two investments in the second quarter for $47.1 million at an average going-in cap rate of 8.9% and we now have four build-to-suit projects underway and one forward purchase contract for a total commitment of $137.7 million, of which $25.2 million has been invested through June 30, 2013.

The property investments underlying these five projects have an initial yield of 8% and a GAAP yield of 9.4%, and our supplemental reporting package contains an estimated funding schedule for these projects.

The addition to our portfolio of long term leases with escalating rents continues to be a priority for us in order to further strengthen our cash flows, extend our weighted average lease term, reduce the average age of our portfolio and support our dividend growth objectives. Based on our investment pipeline, we continue to anticipate stronger volume compared to last year, although the pace of capital deployment has been a little slower than we expected.

Furthermore, we are already building our pipeline for 2014 and 2015. We believe that this increased investment activity will contribute meaningfully through our company funds from operations in 2014 and beyond.

3
Copyright © 2001-2013 FactSet CallStreet, LLC

Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

The opportunities we're currently working on are supported by long-term net leases at going-in cap rates of between 6% and 9%, typically with annual escalations of 2% to 3%. Currently, we expect that build-to-suit will represent the largest allocation of capital for the balance of 2013, but we believe there are also attractive opportunities in sale leaseback transactions, first mortgage lending on single tenant properties and ground lease investments. Our successful asset recycling program has continued to help us drive down our cost of capital and generate proceeds for accretive acquisitions and debt repayments. We continue to look at opportunities to recycle capital with a focus on capturing the value of our multitenant and retail properties.

In the second quarter of 2013, we disposed of $72.8 million of noncore assets, bringing our total for the year to $98 million and we will continue to look at capital recycling opportunities as part of the ongoing effort to further transform our portfolio. The composition of our balance sheet improved dramatically in the quarter and we have included details in our supplemental disclosure package on pages 38 and 39 showing our credit metrics.

In summary, we issued our first tranche of investment grade rate in this using the proceeds to retire debt due to mature in 2013 and 2014, extending our maturities, locking in 10-year fixed rate financing on attractive terms and executing on our stated goal to increase our sources of available capital. These efforts continue to drive down our cost to capital.

In the first six months of 2013, we obtained $354 million of fixed rate financings at a current weighted average interest rate of 3.8% and a weighted average maturity of 9.5 years while reducing our leverage considerably. As a result, we believe the company has substantial financial flexibility at $578 million of availability under its lending facilities. Our weighted average cost of debt has been reduced to under 5% this year and our weighted average maturity has increased to 6.7 years from 5.4 years.

During the quarter, we retired $219.4 million of secured debt which had a weighted average interest rate of 6.1% and we continue to unencumbered assets and reduced our secured debt. Our debt was 38.3% of our gross asset value at quarter end. In addition, at quarter end, $410.6 million of our mortgages mature through 2015 at a weighted average interest rate of 5.4%.

We expect these maturities to be addressed through a combination of additional asset dispositions and refinancing which provide a significant opportunity to further lower our financing costs and unencumbered assets which we expect will improve our cash flow and financial flexibility.

While we continue to unencumbered assets from time to time, we may access the secured financing market when we believe it is advantageous to do so particularly if 15 to 20 year fixed rate financing is available.

In our supplement on pages 38 and 39, we have provided financial disclosure which should of continuing interest to fixed income investors.

Now, I'll turn the call over to Pat, who would take you through our results in more detail.

Patrick Carroll

Thanks, Will. During the quarter, Lexington had gross revenues of $99.4 million, comprised primarily of lease rents and tenant reimbursements. The increase compared to the second quarter of 2012 of $18.6 million relates primarily to acquisitions and build-to-suit projects coming online, the acquisition of the NLS portfolio in the third quarter of 2012 and an increase in occupancy.

4
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Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

In the quarter, GAAP rents were in excess of cash rents by approximately $9 million, including the effect of above and below market leases. For the six -month ended June 30, 2013, GAAP rents were in excess of cash rents by approximately $2.5 million. We have a few leases and have uneven scheduled rent payments whereby rent is paid annually and semi-annually with larger payments being made in the first quarter compared to the remainder of the year.

On page 40 of the supplement, we have included our estimates of both cash and GAAP rents for the remainder of 2013 through 2017 for leases in place at June 30, 2013. We’ve also include same-store NOI data and the weighted average lease term of our portfolio as of June 30, 2013 and 2012. Property operating expenses increased primarily due to the NLS acquisition, plus increased use in occupancy in multi-tenanted properties with base year core structures.

In the second quarter of 2013, we recorded $1.4 million in impairments of properties, $12.8 million in gains on sale of properties and $13 million in net debt satisfaction charges, relating to mortgages repay price maturity offset by gains recognized on mortgages satisfied through properties being transferred by a foreclosure and deed in lieu.

On page 36 of the supplement, we have disclosed selective income statement data for our consolidated but non -wholly-owned properties, and our joint venture investments. We’ve also included net non-cash income and expense recognized in the six months ended June 30, 2013 on page 37 of the supplement.

For the six months ended June 30, 2013, our interest coverage was approximately 3.4 times and net debt to EBITDA was approximately 5.8 times. In 2011 and 2010, Lexington advanced money under a first mortgage loans secured by a property in Schaumburg, Illinois, leased to Career Education Corporation through December 2022 and those were interest at 15% and was scheduled to mature in January 2012, however the borrower defaulted. Lexington ceased recognizing interest income on the loan effective April 1, 2012 and has currently owed $26.2 million on the loan including accrued interest.

We have reserved $4.6 million against this [indiscernible] (13:39) from a GAAP standpoint. So our balance at June 30, 2013 was $21.6 million, and no earnings have been recognized since the first quarter of 2012. We have commenced foreclosure procedures and expect to gain control of the property that's underlying our loan later on this year. We may also be obligated upon foreclosure to fund a tenant improvement allowance of approximately $8.5 million. The lease with the tenant is a net lease and provides recurring annual base rent of approximately $4.2 million and annual GAAP rent of approximately $4.5 million.

Equity in earnings from joint ventures decreased by $10 million, primarily due to our acquisition of our partner's interest in NLS in the third quarter of 2012.

Turning to the balance sheet. We believe our balance sheet is strong and we continue to increase our financial flexibility capacity. We had $94.8 million of cash at quarter end, including cash classified as restricted. Restricted cash balances relate primarily to money held with lenders as escrow deposits on our mortgages.

At quarter end, we had about $1.8 billion of consolidated debt outstanding with a weighted average interest rate of 4.9%, all of which is at fixed rates. We have entered into LIBOR swaps in both the $255 million outstanding on our term loan which matures in 2019 and the $64 million outstanding on our term loan which matures on 2018. The current spread components on our 2019 term loan can range from 1.5% to 2.25% and our current spread is 1.75%. And on the 2018 term loan, the spreads can range from 1.1% to 2.1% and we're currently at 1.35%.

5
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Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

During the quarter ended June 30, 2013, we satisfied $219.4 million in secured mortgage debt with a weighted average interest rate of 6.1%. We also issued $250 million 10-year unsecured bonds at a coupon of 4.25%. Our obtaining investment grade bond rating also allowed us to reduce the spread on our term loans by 35 to 50 basis points and our credit facility by 50 basis points and our credit facility by 60 basis points. Therefore, reducing our interest cost. The significant component of other assets and liabilities are included on page 37 of the supplement.

During the quarter ended June 30, 2013 we paid approximately $2.1 million in lease cost at approximately $13.5 million in tenant improvement. In our press release we have a reconciliation of GAAP net income attributable for Lexington shareholders to company FFO and company FFO to company FAD. For the remainder 2013, we project expected tenant improvement and lease costs to be approximately $20.7 million or $0.09 a share this would bring our total occupancy related expenditures to $53.7 million for the year.

We expect these expenditures to decline considerably next year due to the early extension of post 2013 lease maturities and occupancy days we had in 2013.

Starting on pages 28 through page 32 of the supplement, we disclosed the details of all consolidated mortgages maturing through 2017. We have also included on page 15 of the supplement the funding projections for our four current build-to-suit projects and one forward commitment.

Now, I'll turn the call back over to Will.

T. Wilson Eglin

Thanks, Pat. In summary, we had another great quarter. Occupancy has continued to be strong, and we had made good progress addressing leases expiring in 2014 and 2015. While the increase in interest rate in the second quarter suggests to us the transaction activity should temporarily moderate as buyers and sellers adjust to higher financing costs. Our acquisition pipeline continues to be promising and we believe at companies such as Lexington with access to multiple sources of capital and available capacity are well -positioned to act on opportunities as they arise.

We expect to continue to execute proactively on leasing opportunities in order to maintain high levels of occupancy and address lease rollover risk, realized values on non -core properties and certain fully valued properties with a bias towards reducing our suburban office exposure given improving pricing in this segment, capitalize on refinancing opportunities and finally invest and build -to-suit properties and other accretive investment opportunities.

Today, we affirmed guidance for 2013 company funds from operations as adjusted within a range of $1.01 to $ 1.04 per share, reflecting good growth compared to 2012 and with a less leveraged balance sheet than we had when the year began. Our guidance is forward-looking and reflects comments that we have made on today's call and a diluted share count of roughly 228 million shares which includes 4.2 million shares underlying our 6% convertible guaranteed notes.

We believe our company remains well positioned with an attractive dividend yield and a conservative payout ratio and the opportunity to continue to execute strategies which improve our cash flow, upgrade the quality of our portfolio and provide ongoing value creation for our shareholders.

Operator, I have no further comments at this time so we are ready for you to conduct the question -and-answer portion of the call.

6
Copyright © 2001-2013 FactSet CallStreet, LLC

Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

QUESTION AND ANSWER SECTION

Operator: Thank you. [Operator Instructions] And we'll take our first question from Sheila McGrath with Evercore.

Sheila McGrath Q

Hi, yes. Good morning. Will, I was wondering if you could comment on cap rate trends but more specifically on the wide disparity of cap rates on the transactions that you closed this quarter. I think there was one transaction over 10 and another just over seven.

T. Wilson Eglin A

Yes. With respect to the cap rates in our transactions, it's typically a function of length of lease and credit and property type. So generally, what you see for longer leases is lower cap rates and for shorter leases on new construction higher cap rates. And that simply reflects that with construction costs fairly high, if you have a short lease, you need more rent to amortize your cost down to sensible residual exposure.

With respect to cap rates in general, the sector has absorbed in second quarter roughly a 100 basis point increase in the 10-year yield on treasuries. That created in our minds during the last 60 days or so a little bit of a slowdown in being able to make transactions work from a buyer and seller standpoint. We think that that process is coming to an end. We're more optimistic, I would say, about our acquisition pipeline this week compared to last week. Maybe it's meant that in some cases, cap rates have moved up 25 basis points or so but it largely depends on the transaction. I still think for very high quality projects, there haven't been that much of a move in cap rates at least in the auction market.

Sheila McGrath Q

Okay.

A

Most of what we're looking at is sort of in the 7 to 7.5 cap area but in some cases higher.

Sheila McGrath Q

Okay. And then if you could just give us an update, I know like last quarter, there was commentary about portfolios in the market and we've seen some trade. I'm just wondering your sense of other portfolio transactions on the horizon in your lease?

A

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Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

Yes. There has been quite a bit of portfolio activity in the net lease sector this year, probably more than in any other year. So there are I think at least a couple of floating around right now. In our minds, it's better value for us to focus in the build-to-suit area, one of the things describing the portfolio activity in the market is that there is a fairly significant premium associated with portfolio trade. So we're more oriented towards the value that we can generate for shareholders in the build-to-suit market.

Sheila McGrath Q

Okay, thank you.

Operator: I will now go to David Shamis with Jefferies.

David Shamis Q

Great. Good morning, guys. You mentioned a few times that the pace of transactions being slower than you expected. Just wondering if we can drill down a little bit into that, is that really a result of less assets being placed in the market or pricing just being a little bit too competitive for some assets? And then lastly, are you seeing any differences between office, industrial and retail with respect to transaction volumes and pricing?

A

I would say that it's a process after interest rates spike as they have for buyers and sellers to rediscover the market where transaction is clear. I don't think that that diminishes that volume of transaction activity but we certainly had a couple of transactions in second quarter that have taken longer to put under contract, simply because right, everybody's financing costs have increased and like I said, buyers and sellers had, I guess, differing expectations.

So I view that as a temporary slowdown and as I said earlier, this week, we're sort of more optimistic about transaction volume over the balance of the year. I think we feel like we've got pretty good visibility on about $250 million of new projects. But I don't think in – it's still, with respect to whether it's office, industrial and retail, I would say it's not much changed compared to a quarter ago.

David Shamis Q

Great. Thanks. And then, just on the 2.5 million square feet that you leased subsequent to quarter end, what were the leasing spreads on that and where there any significant [ph] TIs (23:27)?

A

No. It's mainly industrial, so there's very, very limited [ph] TI (23:54) and on one of the leases, we actually had a pretty healthy increase in the rent so, that's positive. What we've said about our portfolios that are industrial rents have been pretty much at market or it had below leasing that one case but we still are in the process on office where we've been marking rents down to market.

8
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Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

David Shamis Q

Okay. Fair enough. And then, Pat, can you give us an update on how many mortgages are pre-payable at this point for the 2014 and 2015 stuff that's come in due?

Patrick Carroll A

Well, anything in 2015 would be subject to yield maintenance penalties currently.

David Shamis Q

But everything is pretty payable, it's just with [indiscernible] (24:32)...

A

Yes. You're not locked up from paying, you just have to pay the yield maintenance. So, we pay up all the ones in 2014, we incur those pre-payments now, in 2015, one would be subject to pre-payment, a yield maintenance penalties. We currently monitor that.

David Shamis Q

So given more of those pre-payment penalties are, do you think it makes sense at this point to prepay those?

A

Not right now. No.

David Shamis Q

Okay. Great. Thanks a lot, guys.

Operator: We will now go to Craig Mailman with KeyBanc.

Craig Mailman Q

Hey, guys. Just want to follow up on the commentary on slower transaction. Have you guys tried to re-trade any one and maybe lost a couple of deals in the second quarter or on the offside dispositions, have you guys been re-traded and have a slow dispositions at all?

9
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Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

No. I don't think we've lost a transaction due to re-trading. I think, my outlook for acquisition volume is not diminished. It's just is taking a little bit longer to put some transactions under contract. And on the disposition side, no, re-trading due to the move.

Craig Mailman Q

Okay. And then I just want to clarify, Will, on your prepared remarks you've talked about the $2.5 million subsequent to quarter end, and then I think you said something about another $2.5 million under negotiations. Did I hear that correctly?

T. Wilson Eglin A

Yes.

Craig Mailman Q

Okay. All right, perfect.

A

We're continuing to make steady progress on lease rollover. Obviously what we did in the last four months with the gigantic amount of leasing so that pace should be steady, but slower going forward of the next couple of quarters.

Craig Mailman Q

Okay. So, a lot of that additional $2.5 million be 14. Are you guys able to go out to 15 at all at this point or is it still kind of limiting?

T. Wilson Eglin A

Yes, we're working actively on some 15 rollover right now.

Craig Mailman Q

Okay. All right. And then just lastly on the JPMorgan, I saw you guys did a one year extension in South Carolina, but then it looks like – was the nonrenewal in South Carolina that seem building with JPMorgan?

T. Wilson Eglin A

Yes.

10
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Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

Craig Mailman Q

So, what was...

T. Wilson Eglin A

The lease was scheduled to expire in October. They wanted to contract some space. We found this second time to take up a large portion of the space they want to contract. So they got that second tenant in. We allowed JPMorgan to contract this space a couple of months earlier.

Craig Mailman Q

Okay. Are you guys expecting that they just give back the rest of the space next October?

T. Wilson Eglin A

No, it's taken right now. They contract it effective – it's contracted as of June.

Craig Mailman Q

Okay. So all that's – they were just able to use kind of a tenant proportion of it.

T. Wilson Eglin A

We found the tenant proportion of the – we also gave back and part of it is still vacant. That's correct.

Craig Mailman Q

All right. Great. Thank you.

Operator: And we will now go to Anthony Paolone with JPMorgan.

Anthony Paolone Q

All right, thanks. Are you guys seeing some of the other larger net lease companies being competitive in your product types as some of those have moved outside of there more historical type products?

A

Yes, there are, I think there is more competition in build-to-suit so I think more active market with the economy continuing to grow. But yes, there's a lot of net lease companies in the market now and it's certainly is a deeper market on the competition side.

11
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Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

Anthony Paolone Q

I mean, so if we look at like your build-to-suit starts with a new activity you announced I mean, it's just two deals but if we won that yield it's – I think 7.6% we came up with – how would that if compared to maybe a couple of years ago and it just seems like it's a little bit lower than sort of 8 to 9 range, your prior deals that you have entered into then. I'm just wondering if you go down a little bit in yield, get a little bit more in lease term or a little more credit quality like do you have like – at what point do you start to pick up just volume like get to do, double that volume or something if you wanted to?

A

Well, we're bidding a lot of transactions right now as I mentioned between sort of 7 and 7.5, if we were to go below 7 we can certainly pick up lots more volume. Two years ago it was probably 8.5% to 9% that reflects market conditions coming out of the financial crisis. But it also reflects the fact that cap rates have come down, the financing costs have come down a lot. Our financing costs have come down very quickly over the last few years. So there's very – there's still very healthy margin, Tony, compared to where we can finance, where we can originate build-to-suits.

But our approach to investing in this space is not just to measure accretion by the spread we can earn, but to also take into account residual value, and obviously, the accretion of any one of these transactions can't be known until residual value is understood. So we tend to be a little bit more conservative than others. I think that's really the driving force behind our volume. If we want it to be more aggressive about residual value underwriting, we could do a lot more business. But we still want to maintain our value where in investment style.

Anthony Paolone Q

Okay. And then, can you just maybe hit on a few of the larger expirations for the remainder of this year and to next or so, like, Honeywell, Progress, Siemens, some of those and how they might be shaping up?

A

Yes. With respect to this year, let me just get to the lease expiration sheet, I think our prospects for tenant retention at least for part of all of these buildings is fairly high, I would say. The Progress Energy building in Cary, North Carolina, is one that is going to be vacant. We do have some vacant space remaining on the AT&T services building in [ph] Narrowsburg (31:25) because AT&T stayed in that building for a substantial portion.

We do think that Northrop Grumman will stay for 100% occupancy in Pascagoula. Honeywell, we're in negotiations with right now on a three-year extension, but we're not certain about the outcome, but we think they do want to stay in the building for a few years. Next year, we do have some known vacancy coming, I think in Arlington, Texas, the Siemens Building. We feel pretty optimistic that we'll have most of that building leased to a new tenant prior to Siemens moving out.

The Draftfcb Building in Chicago, we think, we can sell for more than the mortgage balance. And then I guess the other sort of fairly sizeable no move out next year is space labs in Washington, and that one we have very high per square foot financing, which is non-recourse, so that's likely to go back to the lender. In Rochester, New York, another big rollover. We think that the tenant there want to stay in a portion of the space and we have, I think, an opportunity to lease a pretty good chunk of the balance to another tenant.

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Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

Anthony Paolone Q

Okay. Thank you, very helpful.

Operator: And we will now go to John Guinee with Stifel.

John Guinee Q

I think Anthony Paolone asked a great question and so I have no questions. Thank you.

A

Well done, Johnny.

 Operator: And we will now go to Todd Stender with Wells Fargo.

Todd Stender Q

Just to stay in that theme, you renewed the two Michelin leases already in the third quarter that don't expire until 2015. Can you just share what the leases were renewed at, just one of them was 1 million -plus square feet?

A

Yes. The rents were roughly flat with where they were before and the one in Moody, Alabama was one where we had a pretty decent increase in rental rate.

Todd Stender Q

Okay, thanks. And what are you marketing for sale right now, any details you can provide in what's currently marketed?

A

Well, we have some of our smaller retail facilities being marketed. We're marketing our multi -tenant property in Richmond, which just had Capital One in that space, that's on the market. So that's consistent with our strategy of trying to monetize multi-tenant assets after they've been leased up. And that building sort of has – sort of 67 % or so loan-to-value mortgage on it so that would also reduce our secured debt. And there's a few other transactions that we're marketing as well.

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Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

Todd Stender Q

The Capital One stuff, what do you think the cap rates will go at and is it going to be aided by having an assumable mortgage on?

A

Well, since we're in sort of the best and final round of negotiating with bidders, we don't want to discuss pricing. But arguably since the mortgage on that building only has a couple of years to run, it's not adding – I don't think it's adding to the value of the building.

Todd Stender Q

Okay, thanks. Your average lease term is now getting close to eight years, if you just look at the announced build -to-suits that are expected to be completed over the next couple of quarters and then your planned dispositions, what do you think the net lease – what do you think the average lease term will look like call it 12 months from now?

A

Well, we'd certainly – I hope they have it over 8, 12 months from now but some of that – a fair portion of that would be derivative of how much new volume comes online.

Todd Stender Q

Okay, thank you.

Operator: And we will now go to Dan Donlan with Ladenburg Thalmann.

Dan Donlan Q

Thank you and good morning. Well, it looks like that the Gander Mountain stuff that you guys sold in the quarter, you also developed that as well in less than a year ago. Can we talk about why you decided to sell them?

A

Sure, I mean, sometimes when we go into build the suite, it's with the intention of seeing whether we can flip the project and make a gain. We like the company, Gander is doing very well, and our plan is to hold on to some Gander Mountain stores that we're building. But we felt like just to maintain the right portfolio allocation and exposure that seeing if we could develop some, and flip them into the market and generate a gain was a sensible course.

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Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

Dan Donlan Q

Okay. And then the office leases, the GAAP rents it looks like they were down 2% or so.

A

2%, yes.

Dan Donlan Q

I mean, I thought you guys had guided to kind of maybe high single digits, low double digits, and why is this better than you guys expected? Do you think that maybe you were too pessimistic in the past?

A

Well no, I don't think we were too pessimistic I think, what was different about this quarter than many quarters over the last three to five years, is how much 10-year office leases we did. So we sort of – our expectation has been that most tenants would want to stay for five years and when you have 10 years of term you're getting a greater straight line effect from the escalations. So, I think that's probably the biggest difference in why the GAAP spread was as narrow as they were this quarter.

Dan Donlan Q

Well, I guess, just trying to get out is do you think this is a trend that we should expect or should we maybe continue to expect kind of high-single digit low-double digits on the...

A

I mean, our overall expectation really isn't materially different than it was a quarter ago. I think the results this quarter reflect the assets that we did renewals on and unfortunately it's hard to say there's a trend. Just because every asset is different and every quarter the composition of renewals is different as well.

We did more leasing in the last 120 days than we thought we would if you asked me six months ago. So we’ve now arguably done more leases and more lease renewals than we thought we would achieve in the course of the whole year. So from the standpoint of early renewals and addressing rollover and extending term we're doing quite well. But in suburban office we still, it's still in our mind, a slug into 2015 with respect to receding rents.

Dan Donlan Q

Okay. Understood. And then just going back to some of the other questions on the lease expirations. I don't know if you have this kind of detail but at the end of the quarter through 2015 and 18% of your GAAP rents expire. When you include the stuff that you've already closed on, closed the quarter, how much of that stuff affected 2013, 2014 and 2015? Is that number close to 16%, 15% or?

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Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

A

Well, the lease that we extended subsequent to quarter end were 2015 and–two 2015 and one 2014 renewals. The 2014 we pushed out, I believe, four years and the 2015 we have pushed out, I believe, in 2016 and 2017. So, I mean, it flips and the rents were relatively flat with the exception of the, as Will said, the Moody's rent which is a 2014 lease. So, it will push it out a little bit but it will still be within – in certain cases, it's still within through 2017.

Dan Donlan Q

Okay. And just out of curiosity, how come you can extend it out for longer than a couple of years in some of these cases?

A

Well, the Moody's was four years and it just comes down to market and what the tenants willing to do.

Dan Donlan Q

Okay. And then, the CapEx you said $53.7 million for the year. That's up versus $42 million and that's just a function of basically what you just talked about, just a lot more than that.

A

In essence, it's pushing 2014 CapEx into [ph] TI (40:24) and leasing cost into 2013 because of the additional extensions we’ve gotten into.

Dan Donlan Q

Okay. And then, lastly, well, given your comments on kind of the timing of acquisitions and there being kind of a brief pause here. Your guidance didn't change, but did you feel like because of that, maybe we should be thinking more towards the lower end or do you still find it with the kind of the range that you've given thus far?

A

Well, we feel fine with the range we’ve given obviously, but there has been a little bit of a drag. But not anything that's, I don't know, overly meaningful, I guess.

Dan Donlan Q

Okay. All right. Thank you.

Operator: And we'll take our next question from Jamie Feldman with Bank of America Merrill Lynch.

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Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

Jamie Feldman Q

Great. Thanks. I guess, first, thinking about some of the leasing activity in the quarter and after the quarter. Are you seeing any change just in some of the regions or kind of what's the pickup in leasing activity telling you about maybe how the economy is fairing in some of these markets over the past couple of quarters?

A

Well, we haven't had enough renewal activity in any one market, I think, to be able to draw any conclusion about specific markets. I definitely think that the economy is fine. It's not a fast growing economy but the fact that we could do so many 10-year renewals on office buildings compared to six months ago or a year ago or two years ago, I think, is heartening and does mean there our tenants in many cases have greater confidence and greater visibility on their need for our properties. So, I thought from that standpoint, it was a real positive.

Jamie Feldman Q

And then what kind of rents on [indiscernible] (42:21) are you getting?

A

We're usually getting 2% a year in most renewals. In the BofA lease we got 2.75%, but it's mainly a 2% escalator.

Jamie Feldman Q

Okay. And then going back to your comment before on your maintaining margins or lease margins that are coming down as much as cap rates, can you talk a little bit more about that, like how do you guys – what do you think is your current cost to capital versus where you can put money to work and what was it historically?

A

Well, I guess our 10-year financing is probably in the sort of 4.75 range today. I guess, historically, one question is how far back do you want to go. I mean, we've seen, I would say, the margin in sort of 2006, 2007 might have been 150 basis points versus in many cases, now start to 250 today which is still healthy. I've worked long enough to remember when leverage was negative earlier in my career. So it's still, I think a pretty healthy margin, you just have the big things that you've got to be careful about is using an expense of financing to pay too high price per foot. I think that's still the main governor on our acquisition activity.

Jamie Feldman Q

Okay. And I'm sorry if I miss it did you say what your current pipeline looks like now for both to build-to-suit and acquisitions?

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Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

A

Well, we specified what's real in other words what's under contract and what's being funded and I'd say we've got pretty good visibility on adding another $250 million to the pipeline between now and year end.

Jamie Feldman Q

And that would be build-to-suit and acquisition?

A

That would be build-to-suit and acquisition but still predominantly build-to-suit.

Jamie Feldman Q

Okay. And then thinking about your same store, I think you were down 2.5% in the first half?

A

Yes.

Jamie Feldman Q

Based on some of the comments you made about move outs what do you guys think you end up for the full year or at least where do you think maybe year-end occupancy ends based on what you know is moving out?

A

I think when we look at projecting going out roughly 2.5 is a decline is where we expect and we would expect by year end occupancy to remain relatively flat as more it is today.

Jamie Feldman Q

Okay. All right. Great. Thank you.

A

Okay. Thanks.

Operator: And that concludes today's question-and-answer session. Mr. Eglin, I would like to turn the conference back to you for any additional or closing remarks.

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Lexington Realty Trust (LXP)	Raw Transcript
Q2 2013 Earnings Call	07-Aug-2013

T. Wilson Eglin

Well, again, thank you for joining us this morning. We're very excited about our prospects for the balance of this year and beyond and as always, we appreciate your participation and support.

If you would like to receive our quarterly supplemental package, please contact Gabriela Reyes or you can find additional information on the company on our website at www.lxp.com. In addition, you may contact me or the other members of the senior management with any questions. Thanks again.

Operator: Ladies and gentlemen, this concludes today's conference. We thank you for your participation.

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