Equity

Shareholders' Equity:

During the nine months ended September 30, 2011 and 2010, the Company issued 10,733,673 and 11,949,400 common shares, respectively, through public offerings and under its direct share purchase plan, raising net proceeds of approximately $96,595 and $77,422, respectively. The proceeds were used for general working capital; primarily 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 September 30, 2011 and December 31, 2010 represented $1,236 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 nine months ended September 30, 2011 and 2010, 340,550 and 352,456 common shares, respectively, were issued by the Company, in connection with OP unit redemptions, for an aggregate value of $1,876 and $1,897, respectively.

As of September 30, 2011, there were approximately 4,078,000 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
	Nine Months ended September 30,
	2011			2010
Net loss attributable to Lexington Realty Trust shareholders	$	(92,611	)	$	(44,534	)
Transfers from noncontrolling interests:
Increase in additional paid-in-capital for redemption of noncontrolling OP units	1,876			1,897
Change from net loss attributable to shareholders and transfers from noncontrolling interests	$	(90,735	)	$	(42,637	)