Equity

Shareholders' Equity:

During the six months ended June 30, 2011 and 2010, the Company issued 10,515,548 and 11,736,433 common shares, respectively, through public offerings and under its direct share purchase plan, raising net proceeds of approximately $94,761 and $76,217, respectively. The proceeds were primarily used to fund investments and retire indebtedness.

During the first quarter of 2010, the Company recorded $13,134 in additional paid-in-capital, representing the conversion feature of the 6.00% Convertible Guaranteed Notes.

Accumulated other comprehensive income (loss) as of June 30, 2011 and December 31, 2010 represented $670 and $(106), respectively, of unrealized gain (loss) on an interest rate swap.

Noncontrolling Interests:

In conjunction with several of the Company's acquisitions in prior years, sellers were issued OP units as a form of consideration. All OP units, other than OP units owned by the Company, are redeemable at certain times, at the option of the holders, and are generally not otherwise mandatorily redeemable by the Company. The OP units are classified as a component of permanent equity as the Company has determined that the OP units are not redeemable securities as defined by GAAP. Each OP unit is currently redeemable for approximately 1.13 common shares, subject to future adjustments.

During the six months ended June 30, 2011 and 2010, 172,130 OP units and 112,620 OP units, respectively, were redeemed or repurchased by the Company for an aggregate value of $1,077 and $687, respectively.

As of June 30, 2011, there were approximately 4,208,000 OP units outstanding other than OP units owned by the Company. All OP units receive distributions in accordance with their respective partnership agreements. To the extent that the Company's dividend per common share is less than the stated distribution per OP unit per the applicable partnership agreement, the distributions per OP unit are reduced by the percentage reduction in the Company's dividend per common share. No OP units have a liquidation preference.

The following discloses the effects of changes in the Company's ownership interests in its noncontrolling interests:



	Net Loss Attributable to Shareholders and Transfers from Noncontrolling Interests
	Six Months ended June 30,
	2011			2010
Net loss attributable to Lexington Realty Trust shareholders	$	(61,697	)	$	(50,868	)
Transfers from noncontrolling interests:
Increase in additional paid-in-capital for redemption of noncontrolling OP units	1,077			687
Change from net loss attributable to shareholders and transfers from noncontrolling interests	$	(60,620	)	$	(50,181	)