Company: LXP
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000910108-25-000020
Chunk: 4

Company: LXP Industrial Trust
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 4
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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)March 31, 2025December 31, 2024Assets: Real estate, at cost$4,134,987 $4,176,294 Real estate - intangible assets314,431 318,444 Land held for development82,920 82,827 Investments in real estate under construction17,500 5,947 Real estate, gross4,549,838 4,583,512 Less: accumulated depreciation and amortization1,070,872 1,047,166 Real estate, net3,478,966 3,536,346 Assets held for sale8,050 — Right-of-use assets, net15,364 16,484 Cash and cash equivalents 70,935 101,836 Restricted cash242 237 Investments in non-consolidated entities39,264 40,018 Deferred expenses, net39,098 39,820 Rent receivable – current 2,361 2,052 Rent receivable – deferred 83,213 85,757 Other assets 22,021 20,762 Total assets$3,759,514 $3,843,312 Liabilities and Equity:  Liabilities:  Mortgages and notes payable, net $53,602 $54,930 Term loan payable, net248,397 297,814 Senior notes payable, net1,089,892 1,089,373 Trust preferred securities, net127,918 127,893 Dividends payable41,354 41,164 Liabilities held for sale219 — Operating lease liabilities15,860 17,114 Accounts payable and other liabilities 46,247 57,055 Accrued interest payable15,349 10,517 Deferred revenue - including below-market leases, net5,632 6,751 Prepaid rent18,190 19,918 Total liabilities1,662,660 1,722,529 Commitments and contingenciesEquity:  Preferred shares, par value $0.0001 per share; authorized 100,000,000 shares