Company: LXP
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001444838-25-000023
Chunk: 133

Company: LXP Industrial Trust
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 133
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OLIDATED FINANCIAL STATEMENTS($000, except share/unit data)

During 2024, the Company deconsolidated Lombard Street Lots, LLC, which resulted in non-cash changes in real estate, at cost, investments in non-consolidated entities and noncontrolling interests of $4,605, $2,311, and $2,503, respectively. In 2023, LCIF merged with and into the Company. The consideration included the conversion of the remaining OP units outstanding valued at approximately $7,800.In 2023, a wholly owned subsidiary of the Company purchased a parcel of land from Etna Park 70, LLC, which the Company has a 90% ownership interest. The transaction generated a gain on sale that the Company recognized as a $1,392 non-cash decrease to the basis acquired.

In 2023, the Company's ground lease related to an office property in Palo Alto, California expired and the leasehold improvements were conveyed back to the ground owner resulting in a non-cash decrease in real estate, at cost and accumulated depreciation and amortization of $29,375. 

(21)    Subsequent Events

Subsequent to December 31, 2024, the Company repaid $50,000 of its $300,000 term loan with cash on hand. 

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Table of ContentsLXP INDUSTRIAL TRUST AND SUBSIDIARIESReal Estate and Accumulated Depreciation and AmortizationSchedule III ($000)

DescriptionLocationEncumbrancesLand and Land EstatesBuildings and ImprovementsTotalAccumulated Depreciation and Amortization(1)Date Acquired/ConstructedWAREHOUSE/DISTRIBUTION PROPERTIESIndustrialChandler, AZ$— $10,733 $69,759 $80,492 $13,480 2020IndustrialGoodyear, AZ— 5,247 36,115 41,362 10,038 2018IndustrialGoodyear, AZ39,418 11,970 50,072 62,042 11,376 2019IndustrialGoodyear, AZ— 1,614 16,222 17,836 3,291 2020IndustrialGoodyear, AZ— 7,552 29,621 37,173 2,869 2023IndustrialGoodyear, AZ— 11,732 52,840 64,572 6,823