Company: LXP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000910108-25-000041
Chunk: 15

Company: LXP Industrial Trust
Filing Date: 2025-07-30
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)June 30, 2025December 31, 2024Assets: Real estate, at cost$4,126,352 $4,176,294 Real estate - intangible assets313,296 318,444 Land held for development82,945 82,827 Investments in real estate under construction33,735 5,947 Real estate, gross4,556,328 4,583,512 Less: accumulated depreciation and amortization(1,111,597)(1,047,166)Real estate, net3,444,731 3,536,346 Right-of-use assets, net14,250 16,484 Cash and cash equivalents 70,976 101,836 Restricted cash247 237 Investments in non-consolidated entities38,416 40,018 Deferred expenses, net38,227 39,820 Rent receivable - current3,149 2,052 Rent receivable - deferred85,301 85,757 Other assets 21,833 20,762 Total assets$3,717,130 $3,843,312 Liabilities and Equity:  Liabilities:  Mortgages and notes payable, net $52,260 $54,930 Term loan payable, net248,615 297,814 Senior notes payable, net1,090,411 1,089,373 Trust preferred securities, net100,074 127,893 Dividends payable41,544 41,164 Operating lease liabilities14,730 17,114 Accounts payable and other liabilities 53,681 57,055 Accrued interest payable10,337 10,517 Deferred revenue - including below-market leases, net4,873 6,751 Prepaid rent14,431 19,918 Total liabilities1,630,956 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;