Company: LXP
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000910108-25-000067
Chunk: 15

Company: LXP Industrial Trust
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 15
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ITEM 1. FINANCIAL STATEMENTS

LXP INDUSTRIAL TRUST AND CONSOLIDATED SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited and in thousands, except share and per share data)

September 30, 2025December 31, 2024Assets: Real estate, at cost$3,994,311 $4,176,294 Real estate - intangible assets314,418 318,444 Land held for development83,254 82,827 Investments in real estate under construction37,910 5,947 Real estate, gross4,429,893 4,583,512 Less: accumulated depreciation and amortization(1,141,505)(1,047,166)Real estate, net3,288,388 3,536,346 Right-of-use assets, net13,124 16,484 Cash and cash equivalents 229,737 101,836 Restricted cash252 237 Investments in non-consolidated entities33,432 40,018 Deferred expenses, net36,651 39,820 Rent receivable - current2,791 2,052 Rent receivable - deferred86,664 85,757 Other assets 17,894 20,762 Total assets$3,708,933 $3,843,312 Liabilities and Equity:  Liabilities:  Mortgages and notes payable, net $50,907 $54,930 Term loan payable, net248,834 297,814 Senior notes payable, net1,090,930 1,089,373 Trust preferred securities, net100,094 127,893 Dividends payable41,922 41,164 Operating lease liabilities13,571 17,114 Accounts payable and other liabilities 52,976 57,055 Accrued interest payable15,130 10,517 Deferred revenue - including below-market leases, net4,520 6,751 Prepaid rent16,571 19,918 Total liabilities1,635,455 1,722,529 Commitments and contingenciesEquity:  Preferred shares, par value $0.0001 per share; authorized 100,000,000 shares:  Series C Cumulative Convertible Preferred, liquidation preference $96,770;