Company: LXP
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000910108-25-000067
Chunk: 86

Company: LXP Industrial Trust
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 86
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NNN JV")(2)20%14,886 15,189 (304)(215)Etna Park 70, LLC(3)90%9,904 9,732 (173)(199)Etna Park East LLC(4)90%2,433 2,360 (128)(124)Lombard Street Lots, LLC (5)44.1%2,313 2,309 5 (3)$33,432 $40,018 $(3,177)$(3,444)(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 non-consolidated entities for services related to acquisitions and asset management. Advisory fees earned from these non-consolidated investments for the nine months ended September 30, 2025 and 2024 were $3,036 and $3,083, respectively.

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

(7)Debt

The Company had the following debt obligations outstanding as of September 30, 2025 and December 31, 2024:September 30, 2025December 31, 2024Interest RateMaturity DateSECURED DEBT:Mortgages:Goodyear, AZ$38,815 $39,418 4.290 %(1)August 2031Long Island City, NY12,541 16,097 3.500 %(1)March 2028Principal balance outstanding51,356 55,515 Unamortized debt issuance