Company: LXP
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000910108-25-000020
Chunk: 18

Company: LXP Industrial Trust
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 18
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NNN Office JV L.P. ("NNN JV")(2)20%15,062 15,189 (127)(173)Etna Park 70, LLC(3)90%9,901 9,732 (49)(70)Etna Park East LLC(4)90%2,346 2,360 (42)(48)Lombard Street Lots, LLC (5)44.1%2,310 2,309 1 — $39,264 $40,018 $(980)$(1,281)(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 to acquire a parcel of land.(4)    Joint venture formed in 2019 with a developer entity to acquire a parcel of land. (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, asset management and debt placement. Advisory fees earned from these non-consolidated investments for the three months ended March 31, 2025 and 2024 were $970 and $1,044, respectively.

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Table of ContentsLXP INDUSTRIAL TRUST AND CONSOLIDATED SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTSMarch 31, 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 March 31, 2025 and December 31, 2024:March 31, 2025December 31, 2024Interest RateMaturity DateSECURED DEBT:Mortgages:Goodyear, AZ$39,219 $39,418 4.290%(1)August 2031Long Island City, NY14,922 16,097 3.500%(1)March 2028Principal balance outstanding54,141 55,515 Unam