Company: LXP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000910108-25-000041
Chunk: 29

Company: LXP Industrial Trust
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 1
Chunk 29
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 redeveloping the property into a standalone warehouse and distribution facility.(5)    Represents infrastructure development costs to prepare the land for vertical development.As of June 30, 2025, the Company's aggregate investment in the ongoing development arrangements was $33,735. This amount included capitalized interest of $56 for the six months ended June 30, 2025 and is presented as Investments in real estate under construction in the accompanying unaudited Condensed Consolidated Balance Sheet. For the six months ended June 30, 2024, capitalized interest for development arrangements was $869.  As of June 30, 2025, the details of the land held for industrial development are as follows (in $000's, except acres):Project (% owned)MarketApprox. Developable AcresGAAP Investment Balance as of 6/30/2025LXP Amount Fundedas of6/30/2025(1)Reems & Olive (95.5%)Phoenix, AZ315$75,352 $74,239 Mt. Comfort Phase II (80.0%)Indianapolis, IN1165,861 4,738 ATL Fairburn (100.0%)Atlanta, GA141,732 1,768 445$82,945 $80,745 (1)    Excludes noncontrolling interests' share.

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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)

(4)Dispositions and Impairment

The following table summarizes the Company's dispositions during the six months ended June 30, 2025 and June 30, 2024, respectively. Sale of real estate (dollars in $000's)June 30, 2025June 30, 2024Number of buildings2 2 Building square feet731,127 338,301Net proceeds from sale of real estate$73,502 $15,493 Net book value$17,467 $9,018 Gain on the sale of real estate(1)$56,035 $8,352 (1)    For the six months ended June 30, 2025, excludes a net casualty loss of $80, which represents the Company