{"id":1003781992,"date":"2008-03-28T12:00:00","date_gmt":"2008-03-28T20:00:00","guid":{"rendered":"https:\/\/64.70.41.235\/2008\/03\/28\/lexington-inland-jv-buys-11-properties-for-270m\/"},"modified":"2022-12-06T15:12:05","modified_gmt":"2022-12-06T23:12:05","slug":"lexington-inland-jv-buys-11-properties-for-270m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lexington-inland-jv-buys-11-properties-for-270m\/","title":{"rendered":"Lexington-Inland JV Buys 11 Properties for $270M&#160;"},"content":{"rendered":"<p>A co-investment program between Lexington Realty Trust and Inland American Real Estate Trust Inc. has closed on the acquisition of 11 primarily single-tenant net-leased assets from Lexington and its subsidiaries for a total price of $270.2 million. \u00a0The purchase price includes the assumption of non-recourse first mortgage financing secured by some of the assets. The 11 properties total more than 2 million net rentable square feet in six states: Arizona, Florida, Massachusetts, Michigan, Tennessee and Texas. \u00a0The buyer is Net Lease Strategic Assets Fund LP, whose general partner, according to an SEC filing, is LMLP GP L.L.C., a wholly owned subsidiary of Lexington Master Limited Partnership. The limited partners are LMLP itself and Inland American (Net Lease) Sub L.L.C., a wholly owned subsidiary of Inland American Real Estate Trust. \u00a0The co-investment program is also under contract to acquire one property in Garland, Texas, and one in The Woodlands, Texas, from Lexington and its subsidiaries. Closing on these two properties, which total more than 450,000 square feet, is scheduled for the second quarter of 2008. Lexington Realty Trust is a REIT that owns, invests in and manages office, industrial and retail properties net-leased to major corporations throughout the United States. \u00a0One of four REITS sponsored by affiliates of The Inland Real Estate Group of Companies Inc., Inland American Real Estate Trust owns retail, office, multi-family, industrial\/distribution and hospitality properties in the United States and Canada. As of the end of 2007, its portfolio consisted of 641 wholly owned and JV interests in properties totaling approximately 34.3 million gross leasable square feet in 33 states, as well as 76 hotels totaling more than 10,400 rooms. \u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A co-investment program between Lexington Realty Trust and Inland American Real Estate Trust Inc. has closed on the acquisition of 11 primarily single-tenant net-leased assets from Lexington and its subsidiaries for a total price of $270.2 million. \u00a0The purchase price includes the assumption of non-recourse first mortgage financing secured by some of the assets. The&hellip;<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003781992","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lexington-Inland JV Buys 11 Properties for $270M&#160; - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lexington-inland-jv-buys-11-properties-for-270m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lexington-Inland JV Buys 11 Properties for $270M&#160;\" \/>\n<meta property=\"og:description\" content=\"A co-investment program between Lexington Realty Trust and Inland American Real Estate Trust Inc. has closed on the acquisition of 11 primarily single-tenant net-leased assets from Lexington and its subsidiaries for a total price of $270.2 million. \u00a0The purchase price includes the assumption of non-recourse first mortgage financing secured by some of the assets. 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