Company: LXP
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001444838-25-000023
Chunk: 120

Company: LXP Industrial Trust
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 120
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 and 2023:December 31, 2024December 31, 2023Mortgages and notes payable$55,515 $60,888 Unamortized debt issuance costs(585)(764)$54,930 $60,124 Interest rates, including imputed rates on mortgages and notes payable, ranged from 3.5% to 4.3% at December 31, 2024 and 2023, respectively, and all mortgages and notes payable mature between 2028 and 2031 as of December 31, 2024. The weighted-average interest rate at December 31, 2024 and 2023 was approximately 4.1% and 4.0%, respectively.

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Table of ContentsLXP INDUSTRIAL TRUST AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS($000, except share/unit data)

The Company has an unsecured credit agreement with KeyBank National Association, as agent. The maturity dates and interest rates as of December 31, 2024, were as follows:Maturity DateInterest Rate$600,000 Revolving Credit Facility(1)July 2026SOFR + 0.85%$300,000 Term Loan(2)January 2027Term SOFR + 1.00%(1)Maturity date of the revolving credit facility can be extended to July 2027, subject to certain conditions. The interest rate ranges from SOFR (plus a 0.10% index adjustment) plus 0.725% to 1.400%, and the revolving credit facility allows for further reductions upon the achievement of to-be-determined sustainability metrics. At December 31, 2024, the Company had no borrowings outstanding and availability of $600,000, subject to covenant compliance. (2)    The Term SOFR portion of the interest rate was swapped to obtain a fixed-rate of 2.722% per annum, until January 31, 2025. In 2024, the Company entered into forward interest rate swap agreements designated as cash flow hedges to effectively fix the interest rate related to an aggregate notional amount of $250,000 of $300,000 of the term loan at an average interest rate of 4.31% from January 31, 2025 to January 31, 2027. The aggregate unamortized debt issuance costs for the term loan were $2,