EXHIBIT 99.2
LEXINGTON CORPORATE PROPERTIES TRUST
SUPPLEMENTAL REPORTING PACKAGE
For the quarter and six months ended June 30, 2001
Table of Contents
I. Income Statement..................................................... 2
II. Balance Sheet........................................................ 3
III. Table of Property Holdings........................................... 4
IV. Properties by State.................................................. 9
VI. Lease Rollover Schedules............................................. 10
VII. Mortgages and Notes Payable.......................................... 12
VIII. Other Revenue Data................................................... 15
LEXINGTON CORPORATE PROPERTIES TRUST
AND CONSOLIDATED SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(dollars in thousands except per share data)
Quarter Ended Six Months Ended
June 30, June 30,
-------- --------
2001 2000 2001 2000
---- ---- ---- ----
Revenues:
Rental $ 19,371 $ 19,298 $ 38,734 $ 38,318
Equity in earnings - nonconsolidated entities 806 231 1,416 633
Interest and other 271 504 531 692
--------- --------- --------- ----------
20,448 20,033 40,681 39,643
--------- --------- --------- ----------
Expenses:
Interest expense 7,712 7,221 15,344 14,655
Depreciation 4,361 4,367 8,718 8,793
Amortization 408 380 756 673
Property operating expenses 343 399 714 768
General and administrative 1,215 1,312 2,457 2,598
--------- --------- --------- ----------
14,039 13,679 27,989 27,487
--------- --------- --------- ----------
Income before gains on sale, minority interests
and extraordinary item 6,409 6,354 12,692 12,156
Gains on sale -- 2,662 -- 2,662
Minority interests (1,319) (1,670) (2,754) (3,001)
Extraordinary item -- -- (270) --
--------- --------- ---------- ----------
Net income $ 5,090 $ 7,346 $ 9,668 $ 11,817
Depreciation 4,361 4,367 8,718 8,793
Extraordinary item -- -- 270 --
Minority interests - OP Units 1,267 1,622 2,613 2,908
Amortization of leasing commissions 192 134 383 167
Deemed conversion of note payable 500 500 1,000 582
Joint venture adjustment 1,038 448 1,919 845
Gains on sale -- (2,662) -- (2,662)
Funds from operations $ 12,448 $ 11,755 $ 24,571 $ 22,450
========== =========== ========== ============
Rent below GAAP revenue (1) $ 589 $ 433 $ 1,199 $ 1,063
========== =========== ========== ============
Per share/unit
Basic net income $ 0.25 $ 0.40 $ 0.48 $ 0.63
Diluted net income $ 0.25 $ 0.36 $ 0.47 $ 0.59
Funds from operations (2),(3),(6) -basic $ 0.47 $ 0.44 $ 0.92 $ 0.87
Funds from operations (2),(3),(6) -diluted $ 0.46 $ 0.44 $ 0.91 $ 0.87
Weighted average shares outstanding (4) 19,351,400 18,838,967 19,219,900 18,881,301
Weighted average OP units outstanding 5,432,667 5,757,834 5,531,928 5,728,008
Weighted average convertible notes (5) 1,923,077 1,923,077 1,923,077 1,120,034
Dilutive common share options 325,777 79,998 287,234 72,604
------------ ----------- ----------- -----------
Total weighted average shares and units(6) 27,032,921 26,599,876 26,962,139 25,801,947
============ =========== =========== ===========
2
LEXINGTON CORPORATE PROPERTIES TRUST
AND CONSOLIDATED SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(dollars in thousands)
6/30/01 12/31/00
------- --------
Real estate, net $ 577,040 $ 584,198
Investment in nonconsolidated entities 46,193 40,836
Cash and cash equivalents 10,935 4,792
Restricted cash 1,819 1,598
Deferred assets 8,963 7,958
Rent receivable - current 1,587 1,557
Other assets 30,031 27,438
------------ ----------
$ 676,568 $ 668,377
============ ==========
Mortgages and notes payable $ 398,569 $ 387,326
Other liabilites 11,712 13,176
Minority interests 58,834 64,812
Shareholders' equity (7) 207,453 203,063
------------ ----------
$ 676,568 $ 668,377
============ ==========
Common shares outstanding 17,808,784 17,151,282
Preferred shares outstanding 2,000,000 2,000,000
Operating partnership units outstanding 5,291,842 5,711,453
------------ ----------
Total outstanding shares/units 25,100,626 24,862,735
============ ==========
(1) Equal to the difference between rents collected and straight-line rental
income recognized under generally accepted accounting principles.
(2) Funds from operations is defined in the NAREIT "White Paper," which was most
recently updated in October 1999, as follows: net income (or loss) (computed in
accordance with generally accepted accounting principles), excluding gains (or
losses) from sales of property, plus real estate depreciation and amortization
and after adjustments for unconsolidated partnerships and joint ventures.
(3) Per common and preferred shares, operating partnership units and convertible
notes (basic) plus common share options (diluted).
(4) Includes 2,000,000 preferred shares.
(5) Relates to the deemed conversion of the Company's outstanding $25 million
exchangeable notes. The notes are convertible into 1,923,077 common shares
commencing March 17, 2000.
(6) The number of shares used to calculate FFO per share is different from the
number used to calculate net income per share in accordance with generally
accepted accounting principles.
(7) Includes mandatory redeemable preferred and common shares.
3
LEXINGTON CORPORATE PROPERTIES TRUST
SUPPLEMENTAL REPORTING PACKAGE
TABLE OF PROPERTY HOLDINGS
6/30/01
- --------------------------------------------------------------------------------------------
2001 2001
Minimum Straight-Line Lease
Tenant Cash Rental Square Maturity
Property Location (Guarantor) Rent($000) Revenue($000) Footage Date
- --------------------------------------------------------------------------------------------
OFFICE
- ------
295 Chipeta Way Northwest Pipeline Corp. $8,571 $8,571 295,000 9/09
Salt Lake City, UT
1600 Viceroy Drive VarTec Telecom, Inc. $3,195 $3,486 249,452 9/15
Dallas, TX
9950 Mayland Drive Circuit City Stores, Inc. $2,859 $2,791 288,562 2/10
Richmond, VA
13651 McLearen Road Boeing North American $2,358 $2,585 159,664 5/08
Herndon, VA Services, Inc.
1301 California Circle Artesyn North America, Inc. $2,562 $2,548 100,026 12/05
Milpitas, CA (Balfour Beatty plc)
2211 South 47th Street Avnet, Inc. $2,335 $2,468 176,402 11/07
Phoenix, AZ
4200 RCA Boulevard The Wackenhut Corp. $2,276 $2,280 127,855 2/11
Palm Beach Gardens, FL
200 Executive Boulevard Hartford Fire Insurance Co. $2,165 $2,158 153,364 12/05
South
Southington, CT
19019 No. 59th Avenue Honeywell, Inc. $1,950 $1,997 252,300 7/06
Glendale, AZ
3615 North 27th Avenue Bank One, Arizona, N.A. $1,900 $1,900 179,280 11/03
Phoenix, AZ
401 Elm Street Lockheed Martin Corporation $1,671 $1,671 126,000 12/06
Marlborough, MA (Honeywell, Inc.)
2210 Enterprise Drive Fleet Mortgage Group, Inc. $1,520 $1,635 177,747 6/08
Florence, SC
160 Clairemont Avenue Allied Holdings, Inc. $1,464 $1,530 112,248 12/07
Decatur, GA
10419 North 30th Street Time Customer Service, Inc. $1,301 $1,457 132,981 7/10
Tampa, FL (Time, Inc.)
250 Rittenhouse Circle Jones Apparel Group, Inc. $1,150 $1,347 255,019 3/13
Bristol, PA
180 Rittenhouse Circle Jones Apparel Group, Inc. $825 $970 96,000 7/13
Bristol, PA
2300 Litton Lane Fidelity Corporate $777 $965 81,744 4/07
Hebron, KY Real Estate, LLC
421 Butler Farm Road Nextel Communications of the Mid- $668 $719 56,515 1/10
Hampton, VA Atlantic, Inc.
12000 Tech Center Drive Kelsey-Hayes Company (Tech I) $635 $679 80,230 4/07
Livonia, MI
250 Turnpike Road Honeywell Consumer Products $432 $432 57,698 9/15
Southborough, MA
-----------------------------------
Subtotal $40,614 $42,189 3,158,087
-----------------------------------
4
LEXINGTON CORPORATE PROPERTIES TRUST
SUPPLEMENTAL REPORTING PACKAGE
TABLE OF PROPERTY HOLDINGS
6/30/01
- -----------------------------------------------------------------------------------------------
2001 2001
Minimum Straight-Line Lease
Tenant Cash Rental Square Maturity
Property Location (Guarantor) Rent($000) Revenue($000) Footage Date
- -----------------------------------------------------------------------------------------------
INDUSTRIAL
- ----------
541 Perkins Jones Road Kmart Corp. $8,409 $8,932 1,700,000 9/07
Warren, OH
6345 Brackbill Boulevard Exel Logistics, Inc. $1,771 $1,852 507,000 3/12
Mechanicsburg, PA (NFC plc)
3501 West Avenue H Michaels Stores, Inc. $1,398 $1,430 431,250 6/13
Lancaster, CA
4425 Purks Road Lear Technologies, LLC $1,325 $1,365 183,717 7/06
Auburn Hills, MI (Lear Corporation)
(General Motors Corp.)
6 Doughton Road Exel Logistics Inc. $1,361 $1,349 330,000 11/06
New Kingstown, PA (NFC plc)
3102 Queen Palm Drive Time Customer Service, Inc. $906 $1,015 229,605 7/10
Tampa, FL (Time, Inc.)
2280 Northeast Drive Ryder Integrated Logistics, Inc. $891 $1,004 276,480 7/12
Waterloo, IA (Ryder Systems, Inc.)
245 Salem Church Road Exel Logistics Inc. $1,009 $1,000 252,000 11/06
Mechanicsburg, PA (NFC plc)
12025 Tech Center Drive Kelsey-Hayes Company (Tech II) $916 $958 100,000 4/07
Livonia, MI
222 Tappan Drive North The Gerstenslager Company $674 $667 296,720 5/05
Mansfield, OH (Worthington Industries)
34 East Main Street Exel Logistics Inc. $659 $654 179,200 11/06
New Kingstown, PA (NFC plc)
450 Stern Street Johnson Controls, Inc. $586 $586 111,160 12/06
Oberlin, OH
904 Industrial Road Tenneco Automotive Operating $587 $583 195,640 8/05
Marshall, MI Company, Inc.
3350 Miac Cove Road Mimeo.com, Inc. $537 $537 141,359 10/09
Memphis, TN
109 Stevens Street Unisource Worldwide, Inc. $380 $380 168,800 9/02
Jacksonville, FL
7150 Exchequer Drive Corporate Express Office $330 $368 65,043 10/13
Baton Rouge, LA Products, Inc.
(CEX Holdings, Inc.)
One Spicer Drive Dana Corp. $335 $341 148,000 8/07
Gordonsville, TN
324 Industrial Park Road SKF USA, Inc. $340 $340 72,868 12/14
Franklin, NC
5
LEXINGTON CORPORATE PROPERTIES TRUST
SUPPLEMENTAL REPORTING PACKAGE
TABLE OF PROPERTY HOLDINGS
6/30/01
- -----------------------------------------------------------------------------------------------
2001 2001
Minimum Straight-Line Lease
Tenant Cash Rental Square Maturity
Property Location (Guarantor) Rent($000) Revenue($000) Footage Date
- -----------------------------------------------------------------------------------------------
6950 Greenwood Parkway Allegiance Healthcare Corp. $314 $314 123,924 9/01
Bessemer, AL (Baxter International, Inc.)
567 South Riverside Drive Crown Cork & Seal Co., Inc. $224 $224 146,000 9/01
Modesto, CA
1601 Pratt Avenue Tenneco Automotive Operating $161 $163 53,600 8/05
Marshall, MI Company, Inc.
-----------------------------------------
Subtotal $23,113 $24,062 5,712,366
-----------------------------------------
RETAIL
- ------
2655 Shasta Way Fred Meyer, Inc. $1,009 $1,009 178,204 3/08
Klamath Falls, OR
Fort Street Mall Liberty House, Inc. $963 $971 85,610 9/09
King St.
Honolulu, HI
150 NE 20th Street Fred Meyer, Inc. $826 $826 118,179 5/11
Newport, OR
4733 Hills & Dales Scandinavian Health Spa, $668 $685 37,214 12/08
Road Inc.
Canton, OH (Bally Total Fitness
Holding Corp.)
24100 Laguna Hills Federated Department $677 $673 160,000 1/06
Mall Stores, Inc.
Laguna Hills, CA
1160 White Horse Physical Fitness Centers of $713 $673 31,750 7/07
Road
Voorhees, NJ Philadelphia, Inc.
(Bally Total Fitness Corp.)
7111 Westlake Terrace The Home Depot USA, Inc. $772 $648 95,000 4/06
Bethesda, MD
6475 Dobbin Road MOR Dobbin LLC $628 $637 60,000 8/04
Columbia, MD
5917 S. La Grange Bally Total Fitness Corp. $574 $542 25,250 7/07
Road
Countryside, IL
5801 Bridge Street Champion Fitness IV, Inc. $444 $419 24,990 8/07
DeWitt, NY (Bally Total Fitness Corp.)
12535 SE 82nd Avenue Toys "R" Us, Inc. $424 $417 42,842 5/06
Clackamas, OR
4450 California Mervyn's $407 $397 122,000 12/02
Street (Dayton Hudson Corp.)
Bakersfield, CA
18601 Alderwood Mall Blvd. Toys "R" Us, Inc. $395 $389 43,105 5/06
Lynnwood, WA
7272 55th Street Circuit City Stores, Inc. $387 $376 45,308 10/08
Sacramento, CA
6910 S. Memorial Highway Toys "R" Us, Inc. $361 $356 43,123 5/06
Tulsa, OK
6405 South Viriginia St. Comp USA, Inc. $335 $325 31,400 12/08
Reno, NV
6
LEXINGTON CORPORATE PROPERTIES TRUST
SUPPLEMENTAL REPORTING PACKAGE
TABLE OF PROPERTY HOLDINGS
6/30/01
- -----------------------------------------------------------------------------------------------
2001 2001
Minimum Straight-Line Lease
Tenant Cash Rental Square Maturity
Property Location (Guarantor) Rent($000) Revenue($000) Footage Date
- -----------------------------------------------------------------------------------------------
5055 West Sahara Circuit City Stores, Inc. $286 $278 36,053 12/08
Avenue
Las Vegas, NV
9580 Livingston Road GFS Realty, Inc. $408 $274 107,337 2/14
Oxon Hill, MD (Giant Food, Inc.)
7055 Highway 85 South Wal-Mart Stores, Inc. $270 $270 81,911 1/11
Riverdale, GA
Amigoland Shopping Center Montgomery Ward & Co., Inc. $153 $153 115,000 10/04
Mexico St. & Palm Blvd.
Brownsville, TX
Rockshire Village Center GFS Realty, Inc. $224 $152 51,682 4/17
West Ritchie Parkway (Giant Food, Inc.)
Rockville, MD
------------------------------------
Subtotal $10,924 $10,470 1,535,958
------------------------------------
Grand Total $74,651 $76,721 10,406,411
====================================
7
LEXINGTON CORPORATE PROPERTIES TRUST
SUPPLEMENTAL REPORTING PACKAGE
TABLE OF PROPERTY HOLDINGS
6/30/01
- -----------------------------------------------------------------------------------------------
2001 2001
Minimum Straight-Line Lease
Tenant Cash Rental Square Maturity
Property Location (Guarantor) Rent($000) Revenue($000) Footage Date
- -----------------------------------------------------------------------------------------------
OFFICE
- ------
389-399 Interpace Highway Aventis Pharmaceuticals, Inc. $7,844 $8,487 340,240 1/10
Morris Corporate Center (Pharma Holdings GmbH) (1)
IV
Parsippany, NJ
17 Technology Circle Blue Cross Blue Shield $4,564 $4,906 348,410 9/09
Columbia, SC of South Carolina Inc. (2)
6555 Sierra Drive True North Communications Inc. (1) $4,009 $4,250 247,254 1/10
Irving, TX
15375 Memorial Drive Vastar Resources, Inc. (1) $3,273 $3,437 327,325 9/09
Houston, TX
10300 Kincaid Drive Bank One Indiana, N.A. (1) $3,185 $3,287 193,000 10/09
Fishers, IN
600 International Parkway First USA Management $2,711 $2,921 125,155 9/09
Lake Mary, FL Services, Inc. (1)
550 International Parkway First USA Management $2,608 $2,820 125,920 9/09
Lake Mary, FL Services, Inc. (1)
2000 Eastman Drive Structural Dynamic Research Corp.(1) $2,547 $2,790 212,836 4/11
Milford, OH
14040 Park Center Road NEC America, Inc. (1) $1,773 $2,025 108,000 7/09
Herndon, VA
-------------------------------------
Subtotal Office $ 32,514 $34,923 2,028,140
-------------------------------------
INDUSTRIAL
3600 Southgate Drive Sygma Network, Inc. (3) $933 $933 149,500 10/15
Danville, IL (Sysco Corporation)
291 Park Center Kraft Foods North America, $1,420 $1,514 344,700 5/11
Drive Inc. (1)
Winchester, VA
590 Ecology Lane Owens Corning (3) $1,505 $1,505 193,891 1/21
Chester, SC
----------------------------------
Subtotal Industrial $3,858 $3,952 688,091
----------------------------------
$36,372 $38,875 2,716,231
==================================
(1) The Company has a 33% ownership interest in this
property.
(2) The Company has a 40% ownership interest in this
property.
(3) The Company has a 99% ownership interest in this
property.
8
Lexington Corporate Properties Trust
Supplemental Reporting Package
Properties by State
6/30/01
Historical 12-Months
Ended June 30, 2001 (1)
--------------------------
Total
Approx.
No. of Number of Percent Leasable Rent Percent of
States State Properties Leased Sq. Feet ($000's) Total Rent
- --------------------------------------------------------------------------------
1 Ohio 5 100% 2,357,930 $ 11,795 13.4%
2 Utah 1 100% 295,000 8,773 9.9
3 Pennsylvania 6 100% 1,619,219 7,190 8.2
4 Virginia 5 100% 957,441 6,822 7.7
5 Florida 5 100% 910,316 6,509 7.4
6 Arizona 3 100% 607,982 6,378 7.2
7 Texas 4 100% 939,031 5,945 6.7
8 California 6 100% 1,004,584 5,706 6.5
9 South 3 100% 720,048 4,352 4.9
Carolina
10 Michigan 5 100% 613,187 3,748 4.2
11 Oregon 3 100% 339,225 2,333 2.6
12 New Jersey 2 100% 371,990 2,125 2.4
13 Massachusetts 2 100% 183,698 2,099 2.4
14 Connecticut 1 100% 153,364 2,009 2.3
15 Georgia 2 100% 194,159 1,800 2.0
16 Maryland 4 100% 314,019 1,710 2.0
17 Indiana 1 100% 193,000 1,096 1.2
18 Kentucky 1 100% 81,744 1,009 1.2
19 Illinois 2 100% 174,750 1,004 1.1
20 Iowa 1 100% 276,480 1,004 1.1
21 Hawaii 1 100% 85,610 971 1.1
22 Tennessee 2 88% 289,359 947 1.1
23 Nevada 2 100% 67,453 603 0.7
24 Alabama 1 100% 123,924 473 0.5
25 New York 1 100% 24,990 419 0.5
26 Washington 1 100% 43,105 391 0.5
27 Louisiana 1 100% 65,043 368 0.4
28 Oklahoma 1 100% 43,123 358 0.4
29 North 1 100% 72,868 340 0.4
Carolina
----------------------------------------------------------------------
Total 73 99.7% 13,122,642 $ 88,277 100.0%
== ===== ========== ====== ======
(1) Includes proportionate share of joint venture investments.
9
Lexington Corporate Properties Trust
Supplemental Reporting Package
Lease Rollover Schedule by Property Type - Cash Basis (1)
6/30/01
Office Industrial Retail
------ ---------- ------
Year Cash Rental Net Rent Cash Rental Net Rent Cash Rental Net Rent
Revenue PSF Revenue PSF Revenue PSF
2001 (2) $ -- $ -- $ 770 $2.85 $ -- $ --
2002 -- -- 380 2.25 407 3.34
2003 1,900 10.60 -- -- -- --
2004 -- -- -- -- 665 3.80
2005 5,060 19.97 1,446 2.65 -- --
2006 3,690 9.75 5,301 5.02 2,631 6.85
2007 6,153 13.65 10,739 5.51 1,991 24.28
2008 4,620 13.69 -- -- 2,885 8.79
2009 12,175 16.29 770 5.45 990 11.56
2010 9,777 17.61 1,143 4.98 -- --
2011 3,005 14.89 536 4.67 1,096 5.48
2012 -- -- 3,460 4.42 -- --
2013 2,552 7.27 1,875 3.78 -- --
2014 -- -- 340 4.67 205 1.91
2015 4,127 13.44 924 6.24 -- --
2016 -- -- -- -- -- --
2017 -- -- -- -- 115 2.23
2018 -- -- -- -- -- --
2019 -- -- -- -- -- --
2020 -- -- -- -- -- --
2021 -- -- 1,603 8.35 -- --
(1) Includes proportionate share of joint venture investments
(2) Subsequent to June 30, 2001 the leases were extended to 2006 and 2011.
10
Lexington Corporate Properties Trust
Supplemental Reporting Package
Lease Rollover Schedule - GAAP Basis
6/30/01
($000's)
Percentage of
Number of Annual Annual
Year Leases Expiring Rent (1) Rent (1)
- ---- --------------- ------------- -----------
2001(2) 2 $ 770 0.8%
2002 2 777 0.9%
2003 1 1,900 2.1%
2004 2 789 0.9%
2005 5 6,119 6.7%
2006 12 11,105 12.2%
2007 10 17,507 19.2%
2008 7 6,893 7.6%
2009 8 16,194 17.8%
2010 6 10,228 11.2%
2011 5 4,811 5.3%
2012 2 2,856 3.1%
2013 4 4,115 4.5%
2014 2 614 0.7%
2015 3 4,842 5.3%
2016 -- -- --
2017 1 152 0.1%
2018 -- -- --
2019 -- -- --
2020 -- -- --
2021 1 1,490 1.6%
-- ------ ----
Total 73 $ 91,162 100%
== ======= ====
(1) Includes proportionate share of joint venture investments.
(2) Subsequent to June 30, 2001 the two leases were extended to 2006 and 2011.
11
Lexington Corporate Properties Trust
Supplemental Reporting Package
Mortgages and Notes Payable
6/30/01
($000's)
Interest Annual Balloon
Balance Rate Maturity Debt Service Payment
------- ---- -------- ------------ -------
Property Level Debt
- -------------------
Bessemer, AL $ 1,000 9.500% 09-01-01 $ 71 $ 1,000
Tampa, FL (Queen Palm Dr.) 4,113 7.050% 08-15-02 367 4,020
Tampa, FL (North 30th) 5,090 7.050% 08-15-02 624 4,768
Gordonsville, TN 922 9.500% 10-01-02 194 771
Bakersfield, CA 1,495 9.350% 12-01-02 405 1,065
Columbia, MD 1,340 10.750% 07-20-03 529 --
Oxon Hill, MD 960 6.250% 03-01-04 381 --
Mechanicsburg, PA
(3 Exel Properties) 25,000 8.000% 03-20-04 2,000 25,000
Milpitas, CA 17,100 6.920% 07-01-04 1,183 17,100
Brownsville, TX 633 8.375% 11-01-04 150 260
Rockville, MD 704 8.820% 03-01-05 221 --
REMIC Financing 64,748 8.100% 05-25-05 6,353 60,001
Marlborough, MA 8,395 6.210% 08-01-05 673 7,710
Salt Lake City, UT 7,520 7.870% 10-01-05 2,099 --
Laguna Hills, CA 3,223 8.375% 02-01-06 666 1,020
Bethesda, MD 2,672 9.250% 05-01-06 669 --
Warren, OH 31,732 7.000% 10-01-07 6,160 --
Warren, OH 12,500 7.690% 10-01-07 961 12,500
Bristol, PA 9,956 7.400% 02-01-08 831 9,262
Decatur, GA 6,991 6.720% 06-01-08 579 6,049
Phoenix, AZ 14,935 7.890% 06-05-08 1,434 12,591
Palm Beach Gardens, FL 13,373 7.010% 06-15-08 1,105 11,866
Hebron, KY 5,503 7.000% 10-23-08 451 4,935
Florence, SC 9,745 7.500% 02-01-09 869 8,443
Canton, OH 2,106 9.490% 02-28-09 388 --
Baton Rouge, LA 2,054 7.375% 03-01-09 208 1,470
Bristol, PA 6,354 7.250% 04-01-09 571 5,228
Livonia, MI 11,286 7.800% 04-01-09 992 10,236
Salt Lake City, UT 17,654 7.610% 10-01-09 2,901 --
Richmond, VA 16,836 8.100% 02-01-10 1,511 15,237
Hampton, VA 4,564 8.260% 04-01-10 415 4,139
Phoenix, AZ 3,488 7.500% 05-11-10 262 3,488
Honolulu, HI 5,014 10.250% 10-01-10 841 --
Herndon, VA 19,173 8.180% 12-05-10 1,723 17,276
Glendale, AZ 15,113 7.400% 04-01-11 839 13,115
Auburn Hills, MI 7,500 7.010% 06-01-11 637 5,918
Dallas, TX 22,306 7.490% 12-31-12 2,020 15,961
Lancaster, CA 10,938 7.020% 09-01-13 900 8,614
Franklin, NC 2,140 8.500% 04-01-15 240 --
Southborough, MA 2,393 7.500% 09-01-15 275 --
------- ----- ------- -------
$ 398,569 7.668% $ 43,698 $ 289,043
------- ----- ------- -------
Corporate Level Debt
Credit Facility $ -- -- % 03-30-04 $ -- $ --
------- ----- ------- -------
Total $ 398,569 7.668% $ 43,698 $ 289,043
======= ===== ======= =======
12
Lexington Corporate Properties Trust
Supplemental Reporting Package
Mortgages and Notes Payable
6/30/01
($000's)
Interest Annual Balloon
Balance Rate Maturity Debt Service Payment
------- ---- -------- ------------ -------
Joint Venture Debt
- ------------------
Columbia, SC (1) $ 24,961 7.850% 10-01-09 $ 2,196 $ 22,586
Houston, TX (2) 22,206 7.580% 10-10-09 2,032 18,229
Fishers, IN (2) 15,669 8.190% 04-01-10 1,499 12,960
Herndon, VA (2) 12,073 7.600% 09-01-10 1,107 9,769
Lake Mary, FL (2) 13,486 7.880% 10-01-10 1,181 12,118
Lake Mary, FL (2) 13,446 7.880% 10-01-10 1,178 12,082
Irving, TX (2) 27,061 8.160% 10-01-10 2,432 24,454
Parsippany, NJ (2) 41,920 7.350% 03-01-11 3,472 37,047
Milford, OH (2) 17,666 8.170% 02-01-12 1,544 12,686
Danville, IL (3) 6,838 9.000% 01-01-16 692 4,578
------ ----- ---- ------
$ 195,326 7.840% $ 17,333 $166,509
======= ===== ====== =======
Construction/Development
Loans
Chester, SC (3) $ 10,584 6.010% 08-01-01 $ 10,584
Winchester, VA (2) 10,800 7.500% 06-15-01 10,800
------ -------
$ 21,384 $ 21,384
====== =======
- -------------------------------------
(1) Lexington has a 40% ownership interest.
(2) Lexington has a 33 1/3% ownership interest.
(3) Lexington has a 99% ownership interest.
13
Lexington Corporate Properties Trust
Supplemental Reporting Package
Debt Maturity Schedule
6/30/01
($000's)
Wholly-owned properties
- --------------------------------------------------------------------------------
Scheduled Balloon Balloon Weighted
Amortization Payments Average Interest Rate
------------ -------- ---------------------
2001 - remaining $ 7,030 $ 1,000(A) 9.50%
2002 14,291 10,624(B) 7.46%
2003 14,779 -- --
2004 15,058 42,360(C) 7.57%
2005 14,280 67,711(D) 8.92%
Joint venture properties (1)
- ----------------------------------------------------------------------------------------
Scheduled Balloon Balloon Weighted
Amortization Payments* Average Interest Rate
------------ --------- ---------------------
2001 - remaining $ 461 $ -- --
2002 1,036 -- --
2003 1,142 -- --
2004 1,225 -- --
2005 1,344 -- --
(1) Represents the Company's proportionate share.
- ------------------------------------------------------
(A) Comprised of Bessemer, AL mortgage ($1,000)
(B) Comprised of Tampa, FL mortgages ($8,788), Gordonsville, TN ($771) and
Bakersfield, CA ($1,065)
(C) Comprised of Mechanicsburg, PA mortgages ($25,000), Brownsville, TX
mortgage ($260) and Milpitas,
CA, mortgage ($17,100)
(D) Comprised of Marlborough, MA mortgage ($7,710) and REMIC financing ($60,001)
* Not including construction/development loans expected to be refinanced.
14
Lexington Corporate Properties Trust
Supplemental Reporting Package
Other Revenue Data
6/30/01
Historical 12-
Months Rent
Revenue by Property Type ($000's) Percentage
- ------------------------ -------- ----------
Office $ 52,095 59%
Industrial 25,643 29%
Retail 10,539 12%
------ ---
$ 88,277 100%
====== ===
Historical 12 Months Rent by Credit Rating
- ------------------------------------------
Investment Grade 62.5%
Non Investment Grade 9.3%
Unrated 28.2%
----
100%
===
Percentage of
Number of Property Rent for 12
Months
Top 10 Tenants/Guarantors Properties Type Ended 6/30/01
- ------------------------- ---------- ---- -------------
Kmart Corporation 1 Industrial 11.6%
Northwest Pipeline Corp. 1 Office 11.4%
Exel Logistics, Inc. (NFC plc.) 4 Industrial 6.3%
Honeywell, Inc. 3 Office 5.3%
Vartec Telecom, Inc. 1 Office 4.5%
Circuit City Stores, Inc. 3 Office (1) 4.5%
Retail (2)
Boeing North American Services, Inc. 1 Office 3.3%
Artesyn North America, Inc. (Balfour Beatty 1 Office 3.3%
plc.)
Avnet, Inc. 1 Office 3.2%
Hartford Fire Insurance Company 1 Office 2.6%
-- -----
17 56.0%
== ====
15