NEW YORK, Nov. 17 /PRNewswire-FirstCall/ -- Lexington Corporate Properties Trust ("Lexington"), a real estate investment trust, today announced that it acquired in a private transaction additional shares of common stock of Lexington Strategic Asset Corp. ("LSAC") at a per share price of $9.30 for a total of approximately $14.4 million.
LSAC is a real estate investment company that invests directly and indirectly in general use properties with private or middle market type tenants, special purpose properties, non-U.S. properties located in the Americas with U.S. dollar denominated rent, and other specialized facilities or assets integral to the operations of its tenants.
LSAC's portfolio currently consists of 14 properties and one mortgage loan which were acquired at a cost of approximately $164.6 million.
LSAC is externally advised by a subsidiary of Lexington. Lexington Corporate Properties Trust now owns approximately 76.2% of the fully diluted outstanding shares of LSAC's common stock.
About Lexington
Lexington is a real estate investment trust that owns and manages office, industrial and retail properties net-leased to major corporations throughout the United States and provides investment advisory and asset management services to investors in the net lease area. Lexington currently pays an annualized dividend of $1.46 per share. Additional information about Lexington is available at http://www.lxp.com/ .
This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under Lexington's control which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those factors and risks detailed in Lexington's periodic filings with the Securities and Exchange Commission. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington's expectations will be realized.
