LXP Industrial Trust Launches Joint Venture
$550 Million Recapitalization of Special Purpose Industrial Portfolio Focuses LXP as a Pure-Play Single-Tenant Warehouse and Distribution REIT NEW YORK, Jan. 03, 2022 (GLOBE NEWSWIRE) -- LXP Industrial Trust ("LXP") (NYSE:LXP), a real estate investment trust focused on single-tenant industrial real estate investments, today announced that it recapitalized a 22-property special purpose industrial portfolio consisting primarily of manufacturing assets through a sale to a new joint venture with an affiliate of Davidson Kempner Capital Management LP. The portfolio's total gross valuation of $550 million represents GAAP and Cash capitalization rates of 7.4% and 7.2%, respectively. LXP will re
