Lexington Realty Trust Sells Multi-Tenant Property in Long Beach, California for $69M

Lexington Realty Trust ("Lexington") LXP, a real estate investment trust (REIT), announced today that one of its joint venture subsidiaries closed on the disposition of an unleveraged multi-tenant property located at 1500 Hughes Way, Long Beach, California for gross proceeds of $69.0 million. The property was 74% leased and the capitalization rate on the disposition was approximately 6.8%. Lexington held a 55% interest in the property.