Company: LXP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000910108-25-000041
Chunk: 32

Company: LXP Industrial Trust
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 1
Chunk 32
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 Receivable and Accounts Payable. The Company estimates that the fair value of cash equivalents, restricted cash, accounts receivable and accounts payable approximates carrying value due to the relatively short maturity of the instruments.

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Table of ContentsLXP INDUSTRIAL TRUST AND CONSOLIDATED SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTSJune 30, 2025 and 2024(Unaudited and dollars in thousands, except share/unit and per share/unit data)

(6)Investments in Non-Consolidated Entities

Below is a schedule of the Company's investments in non-consolidated entities:Percentage Ownership atInvestment Balance as ofEquity in earnings (losses) of non-consolidated entitiesInvestmentJune 30, 2025June 30, 2025December 31, 2024Six Months Ended June 30, 2025Six Months Ended June 30, 2024NNN MFG Cold JV L.P. ("MFG Cold JV")(1)20%$8,873 $10,428 $(1,538)$(1,986)NNN Office JV L.P. ("NNN JV")(2)20%14,980 15,189 (210)(74)Etna Park 70, LLC(3)90%9,871 9,732 (107)(134)Etna Park East LLC(4)90%2,381 2,360 (85)(92)Lombard Street Lots, LLC (5)44.1%2,311 2,309 2 — $38,416 $40,018 $(1,938)$(2,286)(1)    MFG Cold JV is a joint venture formed in 2021 that owns special purpose industrial properties formerly owned by the Company. (2)    NNN JV is a joint venture formed in 2018 that owns office properties formerly owned by the Company. (3)    Joint venture formed in 2017 with a developer entity that owns land for industrial development.(4)    Joint venture formed in 2019 with a developer entity that owns land for industrial development.(5)    The Company ceased to consolidate the operations of Lombard Street Lots, LLC in 2024. Lombard Street Lots, LLC ground leases a parcel of land to a parking operator.The Company earns advisory fees from certain of these