Exhibit 99.2
LEXINGTON CORPORATE PROPERTIES TRUST
SUPPLEMENTAL REPORTING PACKAGE
For the six months ended June 30, 2004
Table of Contents
Income Statements.................................................. 1
Balance Sheets..................................................... 2
Second Quarter Transaction Summary................................. 3
First Quarter Transaction Summary.................................. 4
Property Holdings.................................................. 5
Properties by Location............................................. 14
Lease Rollover Schedules........................................... 15
Mortgages and Notes Payable........................................ 17
Revenue by Tenant Industry......................................... 21
Other Revenue Data................................................. 22
LEXINGTON CORPORATE PROPERTIES TRUST
AND CONSOLIDATED SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(dollars in thousands, except per share data)
Three Months Ended Six Months Ended
June 30, June 30,
2004 2003 2004 2003
---- ---- ---- ----
Gross revenues:
Rental $ 35,254 $ 26,207 $ 66,318 $ 51,927
Advisory fees 777 181 1,727 506
Tenant reimbursements 1,348 1,226 2,873 2,333
---------- ---------- ---------- ----------
Total gross revenues 37,379 27,614 70,918 54,766
Expense applicable to revenues:
Depreciation and amortization (9,292) (6,847) (17,123) (13,167)
Property operating (2,570) (1,905) (5,078) (3,844)
General and administrative (2,549) (2,405) (6,023) (4,674)
Non-operating income 649 230 770 514
Interest and amortization expense (12,330) (9,517) (21,676) (19,112)
Debt satisfaction charges -- (7,685) -- (7,685)
---------- ---------- ---------- ----------
Income (loss) before provision for income taxes, minority interests 11,287 (515) 21,788 6,798
and equity in earnings of joint ventures
Provision for income taxes (488) -- (1,253) --
Minority interests (1,101) 245 (2,224) (893)
Equity in earnings of joint ventures 1,717 1,397 3,521 2,742
---------- ---------- ---------- ----------
Income from continuing operations 11,415 1,127 21,832 8,647
---------- ---------- ---------- ----------
Discontinued operations, net of minority interest:
Income from discontinued operations 1,353 672 2,910 1,456
Impairment charge (478) -- (2,212) --
Gains on sales of properties 2,327 684 4,065 1,143
---------- ---------- ---------- ----------
Total discontinued operations 3,202 1,356 4,763 2,599
---------- ---------- ---------- ----------
Net income 14,617 2,483 26,595 11,246
Dividends attributable to preferred shares - Series B (1,590) (212) (3,180) (212)
---------- ---------- ---------- ----------
Net income allocable to common shareholders $ 13,027 $ 2,271 $ 23,415 $ 11,034
Depreciation and amortization 9,109 6,860 16,860 13,221
Minority interests-OP Units 1,180 (138) 2,109 1,101
Amortization of leasing commissions 183 200 365 400
Joint venture adjustment-depreciation 1,559 981 2,873 1,889
Gains on sales of properties (2,327) (684) (4,065) (1,143)
---------- ---------- ---------- ----------
Funds from operations $ 22,731 $ 9,490 $ 41,557 $ 26,502
========== ========== ========== ==========
Rent below GAAP revenue(1) $ 1,218 $ 1,013 $ 1,749 $ 2,150
========== ========== ========== ==========
Per share/unit
Basic net income $ 0.27 $ 0.07 $ 0.52 $ 0.35
Diluted net income $ 0.27 $ 0.06 $ 0.52 $ 0.33
Funds from operations(2)-basic $ 0.43 $ 0.25 $ 0.82 $ 0.72
Funds from operations(2)-diluted $ 0.43 $ 0.25 $ 0.82 $ 0.72
1
LEXINGTON CORPORATE PROPERTIES TRUST
AND CONSOLIDATED SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(dollars in thousands)
6/30/04 12/31/03
------- --------
Real estate, at cost $ 1,324,298 $ 1,162,395
Accumulated depreciation (171,556) (160,623)
Investment in joint ventures 96,455 69,225
Properties held for sale - discontinued operations 48,242 36,478
Intangible assets, net 27,773 14,736
Cash and cash equivalents 121,651 15,923
Deferred expenses, net 9,222 10,013
Accounts receivable 2,413 -
Rent receivable - deferred 24,160 24,069
Other assets 49,788 35,195
------------ ------------
$ 1,532,446 $ 1,207,411
============ ============
Mortgages and notes payable $ 725,992 $ 551,385
Other liabilities 14,459 10,667
Prepaid rent 4,173 2,482
Minority interests 59,449 59,220
Shareholders' equity 728,373 583,657
------------ ------------
$ 1,532,446 $ 1,207,411
============ ============
Common shares 48,312,044 40,682,001
Preferred shares-Series B 3,160,000 3,160,000
Operating partnership units 5,330,401 5,430,454
------------ ------------
56,802,445 49,272,455
============ ============
1 Equal to the difference between rents collected and straight-line rental
income recognized under generally accepted accounting principles.
2 The Company believes that Funds From Operations ("FFO") enhances an
investor's understanding of the Company's financial condition, results of
operations and cash flows. The Company believes that FFO is an appropriate,
but limited, measure of the performance of an equity REIT. FFO is defined in
the April 2002 "White Paper" issued by the National Association of Real
Estate Investment Trusts, Inc. ("NAREIT") as "net income (or loss) computed
in accordance with generally accepted accounting principles ("GAAP"),
excluding gains (or losses) from sales of property, plus real estate
depreciation and amortization and after adjustments for unconsolidated
partnerships and joint ventures." FFO should not be considered an alternative
to net income as an indicator of operating performance or to cash flows from
operating activities as determined in accordance with GAAP, or as a measure
of liquidity to other consolidated income or cash flow statement data as
determined in accordance with GAAP.
2
LEXINGTON CORPORATE PROPERTIES TRUST
Second Quarter Transaction Summary
Investments ($000's)
Average Scheduled
Property Capitalized Annual GAAP Lease
Tenant/Guarantor Location Type Costs Rent Yield Term
- ---------------- -------- ---- ----- ---- ----- ----
ING USA Annuity and Life West Chester, PA Office $ 19,400 $ 2,038 10.5% 05/10
Insurance Company(1)
Federal -Mogul Corporation Southfield, MI Office 12,796 1,057 8.3% 01/15
Principal Life Insurance Company Clive, IA Office 9,292 774 8.3% 01/12
Dana Corporation (1) Antioch, TN Office 25,400 2,585 10.2% 10/21
Equant N.V. (1) Herndon, VA Office 20,773 2,011 9.7% 04/15
Kirkland's, Inc. Jackson, TN Industrial 15,714 1,398 8.9% 05/19
Carlson Restaurants Carrollton, TX Office 19,800 1,975 9.0% 12/18
Worldwide, Inc. (2) ----------- ----------- ----
$ 123,175 $ 11,838 9.4%
=========== =========== ====
Dispositions ($000's)
Tenant/Guarantor Location Property Net Sale Net
- ---------------- -------- Type Price Book Value
---- ----- ----------
The Home Depot USA, Inc. Bethesda, MD Retail $ 7,183 $ 2,269
Comp USA, Inc. Reno, NV Retail 3,873 2,377
----------- ----------
$ 11,056 $ 4,646
=========== ==========
Lease Extensions ($000's)
Property Previous Extended Extension Rent
Tenant/Guarantor Location Type Term Term Per Annum
- ---------------- -------- ---- ---- ---- ---------
Bally Total Fitness Corporation Countryside, IL Retail 6/07 6/17 $ 513
Kelsey-Hayes Company Livonia, MI Office 4/07 4/14 838
Kelsey-Hayes Company Livonia, MI Industrial 4/07 4/14 1,124
Delray Farms, LLC Gainesville, GA Retail 2/09 1/14 209
Tenneco Automotive, Inc. Marshall, MI Industrial 8/05 8/10 605
New Financings ($000's)
Tenant/Guarantor Location Amount Rate Term
- ---------------- -------- ------ ---- ----
Equant N.V. (1) Herndon, VA $ 12,450 5.92% 4/15
Kirkland's, Inc. Jackson, TN 10,400 5.93% 5/14
Employers Reinsurance Corporation Overland Park, KS 37,620 5.83% 5/19
Employers Reinsurance Corporation Kansas City, MO 17,950 5.83% 5/19
Bell South Corporation(1) Baton Rouge, LA 6,955 4.90% 10/12
Linens-n-Things, Inc. (1) Logan Township, NJ 7,690 4.76% 4/14
--------- -----
$ 93,065 5.70%
========= =====
Assumed Financings ($000's)
Tenant/Guarantor Location Amount Rate Term
- ---------------- -------- ------ ---- ----
ING USA Annuity and Life Insurance West Chester, PA $ 11,379 6.75% 7/19
Company(1)
Federal-Mogul Corporation Southfield, MI 11,629 4.55% 2/15
Dana Corporation(1) Antioch, TN 14,900 7.94% 10/11
--------- -----
$ 37,908 6.54%
========= =====
1. Lexington has a 30% interest in this property.
2. Lexington currently has a $19.8 million convertible mortgage on this property
with an option to acquire the property by making an additional payment of
$2.2 million.
3
LEXINGTON CORPORATE PROPERTIES TRUST
First Quarter Transaction Summary
Acquisitions ($000's) Average
Average
Property Capitalized Annual Average Lease
Tenant/Guarantor Location Type Costs Rent Yield Term
- ---------------- -------- ---- ----- ---- ----- ----
New Jersey Natural Gas Co. Wall, NJ Office $ 37,563 $ 3,323 8.8% 6/21
TNT Logistics North America, Inc. Moody, AL Industrial 11,559 1,054 9.1% 1/14
(TPG N.V.)
T-Mobile USA, Inc. Redmond, OR Office 16,485 1,552 9.4% 1/19
T-Mobile USA, Inc. Mission, TX Office 10,168 979 9.6% 6/15
The Shaw Group, Inc. Centennial, CO Office 24,977 2,418 9.7% 5/13
Baker Hughes, Inc. (4 properties) Houston, TX Office (3) 131,231 13,230 10.1% 9/15
Industrial (1)
Michaels Stores, Inc.(1) New Lenox, IL Industrial 28,651 1,892 6.6% 1/24
----------- --------- ----
$ 260,634 $ 24,448 9.4%
=========== ========= ====
Dispositions ($000's)
Tenant/Guarantor Location Property Net Sale Net
- ---------------- -------- Type Price Book Value
---- ----- ----------
Bally Total Fitness Corp. DeWitt, NY Retail $ 3,030 $ 2,312
Wal-Mart Stores East, Inc. Riverdale, GA Retail 3,230 2,109
---------- --------
$ 6,260 $ 4,421
========== ========
Lease Extensions ($000's)
Property Previous Extended Extension Rent
Tenant/Guarantor Location Type Term Term Per Annum
- ---------------- -------- ---- ---- ---- ---------
Bally Total Fitness Corp. Phoenix, AZ Retail 6/08 12/14 $ 642
New Financings ($000's)
Tenant/Guarantor Location Amount Rate Term
- ---------------- -------- ------ ---- ----
Ryder Systems, Inc. Waterloo, IA $ 6,800 5.61% 2/13
Exel Logistics, Inc. Mechanicsburg, PA 13,870 5.73% 3/14
Fred Meyer, Inc. Newport, OR 7,000 5.03% 8/11
IKON Office Solutions, Inc.(1) Malvern, PA 13,400 5.53% 1/14
Siemens Dematic Postal Automation, LP.(2) Arlington, TX 22,000 5.81% 2/14
TNT Logistics North America, Inc. Moody, AL 7,675 4.98% 1/14
(TPG N.V.)
Michaels Stores, Inc. (1) New Lenox, IL 17,400 5.51% 2/14
T-Mobile USA, Inc. Mission, TX 6,570 5.78% 6/15
T-Mobile USA, Inc. Redmond, OR 10,100 5.62% 4/14
----------- -----
$ 104,815 5.57%
=========== =====
Assumed Financings ($000's)
Tenant/Guarantor Location Amount Rate Term
- ---------------- -------- ------ ---- ----
Baker Hughes, Inc. Houston, TX $ 123,642(3) 6.25%(3) 9/15
New Jersey Natural Gas Co. Wall, NJ 30,036(4) 6.25%(4) 1/21
The Shaw Group, Inc. Centennial, CO 15,891 6.15% 2/13
----------- -----
$ 169,569 6.24%
=========== =====
1. Lexington has a 30% interest in this property.
2. Lexington has a 25% interest in this property.
3. Face amount of debt is $110,696 with a stated rate of 8.04%.
4. Face amount of debt is $27,500 with a stated rate of 7.32%.
4
Lexington Corporate Properties Trust
Supplemental Reporting Package
Property Holdings
6/30/04
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YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed
Property Location Tenant (Guarantor) ($000) ($000) Footage /Renovated
- ------------------------------------------------------------------------------------------------------------------------------------
Office
- ------
295 Chipeta Way Northwest Pipeline Corp. $ 4,387 $ 4,387 295,000 1982
Salt Lake City, UT
10001 Richmond Avenue Baker Hughes, Inc. 1,336 1,983 554,385 1976/1984
Houston, TX
5200 Metcalf Avenue Employers Reinsurance 1,921 1,921 320,198 1980/1990/
Overland Park, KS Corporation 2003
1600 Viceroy Drive VarTec Telecom, Inc. 1,722 1,743 249,452 1986
Dallas, TX
3476 Stateview Boulevard Wells Fargo Home 1,381 1,486 169,083 2002
Fort Mill, SC Mortgage (4) (5)
9950 Mayland Drive Circuit City Stores, Inc. 1,430 1,396 288,562 1990
Richmond, VA
1415 Wyckoff Road New Jersey Natural Gas Co. (10) 1,292 1,292 157,511 1983
Wall Township, NJ
2750 Monroe Boulevard Quest Diagnostics, Inc.(2) 1,167 1,277 109,281 1985/2001
Valley Forge, PA
1301 California Circle Artesyn North America, Inc. 1,447 1,274 100,026 1985
Milpitas, CA (Balfour Beatty plc)
700 Oakmont Lane North American Van Lines, Inc. 1,146 1,258 269,715 1989
Westmont, IL (SIRVA, Inc.)(3)
2211 South 47th Street Avnet, Inc. 1,276 1,235 176,402 1997
Phoenix, AZ
13651 McLearen Road Boeing North American 1,305 1,222 159,664 1987
Herndon, VA Services, Inc.
(The Boeing Company)
5600 Broken Sound Blvd Oce Printing Systems USA, Inc. 1,006 1,123 143,290 1983/2002
Boca Raton, FL
4200 RCA Boulevard The Wackenhut Corp.(6) 1,080 1,083 114,518 1996
Palm Beach Gardens, FL
701 Brookfield Parkway Verizon Wireless (7) 965 1,033 192,884 2000/2001
Greenville, SC
19019 No. 59th Avenue Honeywell, Inc. 1,001 990 252,300 1985
Glendale, AZ
401 Elm Street Lockheed Martin Corp. 935 935 126,000 1960/1988
Marlborough, MA (Honeywell, Inc.)
9201 Stateline Employers Reinsurance 917 917 166,641 1963/1985/
Kansas City, MO Corporation 2003
26210 and 26220 Enterprise Apria Healthcare Group, Inc. 824 896 100,012 2001
Court
Lake Forest, CA
5
Lexington Corporate Properties Trust
Supplemental Reporting Package
Property Holdings
6/30/04
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YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed
Property Location Tenant (Guarantor) ($000) ($000) Footage /Renovated
- ------------------------------------------------------------------------------------------------------------------------------------
1600 Eberhardt Road Nextel of Texas 692 779 108,800 2001
Temple, TX
200 Executive Blvd. S Hartford Fire Insurance Co. 1,083 775 153,364 1983
Southington, CT
9275 S.W. Peyton Lane Hollywood Entertainment 734 766 122,853 1980/1998
Wilsonville, OR Corp.
160 Clairemont Avenue Allied Holdings, Inc. 794 765 112,248 1983
Decatur, GA
10419 North 30th Street Time Customer Service, Inc. 697 705 132,981 1986
Tampa, FL (Time, Inc.)
250 Rittenhouse Circle Jones Apparel Group 633 693 255,019 1982
Bristol, PA USA, Inc.
(Jones Apparel Group, Inc.) (1)
400 Butler Farm Road Nextel Communications of 632 651 100,632 1999
Hampton, VA the Mid-Atlantic, Inc.
(Nextel Finance Company)
2999 SW 6th St. Voice Stream PCS I LLC 514 597 77,484 2004
Redmond, OR (T-Mobile USA, Inc.)
6455 State Hwy 303 NE Nextel West Corporation 484 556 60,200 2001
Bremerton, WA
13430 N. Black Canyon Bull HN Information 549 543 137,058 1985/1994
Freeway Systems, Inc.
Phoenix, AZ
359
12645 W. Airport Road Baker Hughes, Inc. 522 165,836 1997
Sugar Land, TX
180 Rittenhouse Circle Jones Apparel Group 445 485 96,000 1998
Bristol, PA USA, Inc.
(Jones Apparel Group, Inc.)
3711 San Gabriel Voice Stream PCS II LLC 416 453 75,016 2004
Mission, TX (T-Mobile USA, Inc.)
16275 Technology Drive Cymer, Inc. 429 444 65,755 1989
San Diego, CA (Hewlett-Packard)
2401 Cherahala Boulevard Advance PCS, Inc. 393 411 59,748 2002
Knoxville, TN
12000 Tech Center Drive Kelsey-Hayes Company 361 363 80,230 1988
Livonia, MI
421 Butler Farm Road Nextel Communications of 354 362 56,515 2000
Hampton, VA the Mid-Atlantic, Inc.
(Nextel Finance Company)
2210 Enterprise Drive Washington Mutual 348 342 177,747 1998
Florence, SC Home Loan, Inc.
6
Lexington Corporate Properties Trust
Supplemental Reporting Package
Property Holdings
6/30/04
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YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed
Property Location Tenant (Guarantor) ($000) ($000) Footage /Renovated
- ------------------------------------------------------------------------------------------------------------------------------------
100 Barnes Road Minnesota Mining and 269 303 44,400 1978/1985
Wallingford, CT Manufacturing Company
1440 East 15th Street Cox Communications, Inc. 214 228 28,591 1988
Tucson, AZ
2529 West Thorns Drive Baker Hughes, Inc. 219 228 65,500 1981/1999
Houston, TX
250 Turnpike Road Honeywell Consumer 216 216 57,698 1984
Southborough, MA Products
183 Plains Road IKON Office Solutions, Inc. 168 168 27,360 1994
Milford, CT
26555 Northwestern Highway Federal-Mogul Corporation - 11 187,163 1963/1965
Southfield, MI
1275 NW 128th Street Principal Life Insurance 2 2 61,180 2004
Clive, IA Company(12)
2300 Litton Lane VACANT (9) 1,199 322 81,744 1987
Hebron, KY
3615 North 27th Avenue VACANT - - 179,280 1960/1979
Phoenix, AZ
----------------------------------------------------------------------------------
Subtotal $ 38,742 $ 39,141 6,715,326
----------------------------------------------------------------------------------
Industrial
- ----------
541 Perkins Jones Road Kmart Corp. $ 4,680 $ 4,466 1,700,000 1982
Warren, OH
2425 Highway 77 North James Hardie Building 1,700 1,700 425,816 1996/1997
Waxahachie, TX Products, Inc.
(James Hardie Industries NV)
3501 West Avenue H Michaels Stores, Inc. 1,619 1,652 762,775 1998/2002
Lancaster, CA
6345 Brackbill Boulevard Exel Logistics, Inc. 1,018 1,126 507,000 1985/1991
Mechanicsburg, PA (NFC plc)
8305 SE 58th Avenue Associated Grocers of 1,033 1,119 668,034 1976
Ocala, FL Florida, Inc.
159 Farley Drive Harbor Freight Tools 821 906 474,473 2001
Dillon, SC (Central Purchasing, Inc.)
9110 Grogans Mill Road Baker Hughes, Inc. 878 824 275,750 1992
Houston, TX
590 Ecology Lane Owens Corning 810 810 193,891 2001
Chester, SC
7
Lexington Corporate Properties Trust
Supplemental Reporting Package
Property Holdings
6/30/04
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YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed
Property Location Tenant (Guarantor) ($000) ($000) Footage /Renovated
- ------------------------------------------------------------------------------------------------------------------------------------
4425 Purks Road Lear Technologies LLC 702 683 183,717 1989/1998
Auburn Hills, MI (Lear Corporation)
(General Motors Corp.)
6 Doughten Road Exel Logistics, Inc. 743 674 330,000 1989
New Kingston, PA (NFC plc)
6500 Adelaide Court Anda Pharmaceuticals, Inc. 539 603 354,676 2002
Groveport, OH (Andrx Corporation)
7500 Chavenelle Road The McGraw-Hill Companies, 515 582 330,988 2002
Dubuque, IA Inc.
12025 Tech Center Drive Kelsey-Hayes Company 500 509 100,000 1987/1988
Livonia, MI
3102 Queen Palm Drive Time Customer Service, Inc. 486 505 229,605 1986
Tampa, FL (Time, Inc.)
2280 Northeast Drive Ryder Integrated 499 502 276,480 1996/1997
Waterloo, IA Logistics, Inc.
(Ryder Systems, Inc.)
245 Salem Church Road Exel Logistics, Inc. 551 500 252,000 1985
Mechanicsburg, PA (NFC plc)
200 Arrowhead Drive Owens Corning 460 492 400,522 1999
Hebron, OH
3600 Southgate Drive Sygma Network, Inc. 467 467 149,500 2000
Danville, IL
46600 Port Street Johnson Controls, Inc. 441 441 134,160 1996
Plymouth, MI
1133 Poplar Creek Road Corporate Express Office 377 405 196,946 1998
Henderson, NC Products, Inc.
(Buhrmann, N.V.)
Moody Commuter & Tech TNT Logistics North 360 360 595,346 2004
Park America, Inc.
Moody, AL (TPG N.V.)
450 Stern Street Johnson Controls, Inc. 334 334 296,720 1970
Oberlin, OH
222 Tappan Drive North The Gerstenslager Company 337 334 111,160 1996
Mansfield, OH (Worthington Industries)
34 East Main Street Exel Logistics, Inc. 360 327 179,200 1981
New Kingston, PA (NFC plc)
191 Arrowhead Drive Owens Corning 289 313 250,410 2000
Hebron, OH
904 Industrial Road Tenneco Automotive 298 294 195,640 1968/1972
Marshall, MI Operating Company, Inc.
(Tenneco Automotive, Inc.)
8
Lexington Corporate Properties Trust
Supplemental Reporting Package
Property Holdings
6/30/04
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YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed
Property Location Tenant (Guarantor) ($000) ($000) Footage /Renovated
- ------------------------------------------------------------------------------------------------------------------------------------
109 Stevens Street Unisource Worldwide, Inc. 278 294 168,800 1958/1969
Jacksonville, FL
128 Crews Drive Stone Container Corporation 271 285 185,961 1968/1998
Columbia, SC
1700 47th Avenue North Owens Corning 267 267 18,620 2003
Minneapolis, MN
7150 Exchequer Drive Corporate Express Office 173 184 65,043 1998
Baton Rouge, LA Products, Inc.
(Buhrmann, N.V.)
431 Smith Lane Kirkland's, Inc. (11) 182 182 771,127 2004
Jackson, TN
324 Industrial Park Road SKF USA, Inc. 181 181 72,868 1996
Franklin, NC
187 Spicer Drive Dana Corporation 173 170 148,000 1983/1985
Gordonsville, TN
300 McCormick Road Ameritech Services, Inc. 128 128 20,000 1990
Columbus, OH
1601 Pratt Avenue Tenneco Automotive 83 82 53,600 1979
Marshall, MI Operating Company, Inc.
(Tenneco Automotive, Inc.)
3350 Miac Cove Road Mimeo.com, Inc. (8) 88 74 141,359 1987
Memphis, TN
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Subtotal $ 22,641 $ 22,775 11,220,187
----------------------------------------------------------------------------------
Retail
- ------
2655 Shasta Way Fred Meyer, Inc. $ 505 $ 505 178,204 1986
Klamath Falls, OR
Fort Street Mall, King Street Liberty House, Inc. 482 486 85,610 1980
Honolulu, HI
150 N.E. 20th Street Fred Meyer, Inc. 413 413 118,179 1986
Newport, OR
6475 Dobbin Road Offenbacher Aquatics, Inc 79 93 17,100 1983
Columbia, MD Haverty Furniture Companies, - 316 46,724
Inc.
35400 Cowan Road Sam's Real Estate 376 376 102,826 1987/1997
Westland, MI Business Trust
12235 N. Cave Creek Bally's Health & Tennis 421 375 36,556 1988
Phoenix, AZ Corporation
9
Lexington Corporate Properties Trust
Supplemental Reporting Package
Property Holdings
6/30/04
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YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed
Property Location Tenant (Guarantor) ($000) ($000) Footage /Renovated
- ------------------------------------------------------------------------------------------------------------------------------------
4733 Hills & Dales Road Scandinavian Health Spa, Inc. 357 343 37,214 1987
Canton, OH (Bally Total Fitness Corp.)
24100 Laguna Hills Mall Federated Department 338 337 160,000 1974
Laguna Hills, CA Stores, Inc.
1160 White Horse Road Physical Fitness Centers of 410 335 31,750 1987
Voorhees, NJ Philadelphia, Inc.
(Bally Total Fitness Corp.)
5917 S. La Grange Road Bally Total Fitness Corp. 330 329 25,250 1987
Countryside, IL
4831 Whipple Avenue, N.W. Best Buy Co., Inc. 233 233 46,350 1995
Canton, OH
3711 Gateway Drive Kohl's Dept. Stores, Inc. 226 231 76,164 1994
Eau Claire, WI
12535 S.E. 82nd Avenue Toys "R" Us, Inc. 216 212 42,842 1981
Clackamas, OR
399 Peach Wood Centre Drive Best Buy Co., Inc. 198 198 45,800 1996
Spartanburg, SC
18601 Alder Wood Mall Toys "R" Us, Inc. 199 196 43,105 1981
Boulevard
Lynwood, WA
7272 55th Street Circuit City Stores, Inc. 211 188 45,308 1988
Sacramento, CA
6910 S. Memorial Highway Toys "R" Us, Inc. 182 179 43,123 1981
Tulsa, OK
9580 Livingston Road GFS Realty, Inc. 136 133 107,337 1976
Oxon Hill, MD (Giant Food, Inc.)
2275 Browns Bridge Road Wal-Mart Stores, Inc. 109 109 89,199 1984
Gainesville, GA
121 South Center Street Greyhound Lines, Inc. 102 102 17,000 1968
Stockton, CA
2401 Wooton Parkway GFS Realty, Inc. 112 76 51,682 1977
Rockville, MD (Giant Food, Inc.)
A1 21 South Wal-Mart Real Estate 73 73 56,132 1983
Jacksonville, AL Business Trust
2832 Chandler Mountain Road Circuit City Stores,Inc. 50 50 9,300 1986
Lynchburg, VA
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Subtotal $ 5,758 $ 5,888 1,512,755
----------------------------------------------------------------------------------
----------------------------------------------------------------------------------
Grand Total $ 67,141 $ 67,804 19,448,268
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10
(1) Tenant can cancel lease on 03/26/08 with 12 months notice and payment of
$1,392.
(2) Expense stop on this property is $393 per annum.
(3) Tenant can cancel lease on 11/30/13 with 12 months notice and a payment of
$1,300.
(4) Expense stop on this property is $808.
(5) Tenant has the right to contract leased space by 27,000 square feet on
01/31/08 with six months notice and a payment estimated to be $696. In
addition, the tenant can cancel lease on 01/31/10 with twelve months notice
and a payment estimated to be $3,968.
(6) This is a modified gross lease. An annual net operating expense for which
the Company is responsible approximates $494.
(7) Expense stop on this property is $112 per annum.
(8) Tenant occupies 35,000 square feet and is responsible for all operating
expenses.
(9) Tenant exercised termination option effective on 4/30/04.
(10) Tenant can cancel lease for uneconomic obsolescence on or after 12/22/05
and pay an amount as stipulated in lease.
(11) Tenant can cancel lease on 5/30/14 for a payment equal to the remaining 5
years rent discounted at 150 bps over the then 5 year U.S. Treasury rate.
(12) Tenant can cancel lease on 2/1/09 with twelve months notice and a payment
equal to one year rent and operating costs.
11
Lexington Corporate Properties Trust
Supplemental Reporting Package
Joint Venture Property Chart
6/30/04
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YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed
Property Location Tenant (Guarantor) ($000) ($000) Footage /Renovated
- ------------------------------------------------------------------------------------------------------------------------------------
Office
- ------
389-399 Interpace Highway Aventis Pharmaceuticals, Inc $ 3,922 $ 4,244 340,240 2000
Morris Corporate Center IV (Pharma Holdings GmbH)(13)
Parsippany, NJ
17 Technology Circle Blue Cross Blue Shield 3,207 3,465 456,304 1999/2001
Columbia, SC of South Carolina Inc.(14)
100 Wood Hollow Drive Greenpoint Mortgage 2,116 2,432 124,600 2001
Novato, CA Funding, Inc. (17)(18)
6555 Sierra Drive True North Communications 2,005 2,125 247,254 1999
Irving, TX Inc.(13)
15375 Memorial Drive Vastar Resources, Inc.(13) 1,718 1,718 327,325 1985
Houston, TX
10300 Kincaid Drive Bank One Indiana, N.A.(13)(16) 1,592 1,644 193,000 1999
Fishers, IN
600 International Parkway First USA Management 1,433 1,460 125,155 1997
Lake Mary, FL Services, Inc.(13)(15)
550 International Parkway First USA Management 1,382 1,410 125,920 1999
Lake Mary, FL Services, Inc.(13)(15)
2000 Eastman Drive Structural Dynamic 1,347 1,394 212,836 1991
Milford, OH Research Corp.(13)
3701 Corporate Drive Motorola, Inc.(13) (26) 1,357 1,357 119,829 2001
Farmington Hills, MI
1401 & 1501 Nolan Ryan Parkway Siemens Dematic Postal 1,111 1,180 233,783 2003
Arlington, TX Automation, L.P. (20)
14040 Park Center Road NEC America, Inc.(13) 935 1,012 108,000 1987
Herndon, VA
70 Valley Stream Parkway IKON Office Solutions, Inc(17)(21) 962 997 106,855 1987
Malvern, PA
1110 Bayfield Drive Honeywell International, Inc.(13) 767 819 166,575 1980/2002
9201 East Dry Creek Road The Shaw Group, Inc. (17) (23) 483 734 128,500 2001/2002
Centennial, CO
4455 American Way Bell South Mobility, Inc. (17) 494 539 70,100 1997
Baton Rouge, LA
27027 Tourney Road Specialty Labs(17) (22) 499 499 187,262 2004
Santa Clarita, CA
13775 McLearen Road Equant N.V. (17) (25) 342 391 125,293 1984/1988/
Herndon, VA 1992
12
Lexington Corporate Properties Trust
Supplemental Reporting Package
Joint Venture Property Chart
6/30/04
- ------------------------------------------------------------------------------------------------------------------------------------
YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed
Property Location Tenant (Guarantor) ($000) ($000) Footage /Renovated
- ------------------------------------------------------------------------------------------------------------------------------------
1475 Dunwoody Drive ING USA Annuity and Life 11 11 125,000 1998/1999
West Chester, PA Insurance Company (17)
6050 Dana Way Dana Corporation(17) (24) - - 677,400 1999
Antioch, TN
-----------------------------------------------------
Subtotal Office $ 25,683 $ 27,431 4,201,231
-----------------------------------------------------
Industrial
101 Michelin Drive TNT Logistics North $ 1,551 $ 1,614 1,164,000 1991/1993
Laurens, SC America, Inc.
(TPG N.V.) (13)
7111 Crabb Road TNT Logistics North 1,039 1,081 752,000 1978/1993
Temperance, MI America, Inc.
(TPG N.V.) (13)
121 Technology Drive Heidelberg Web Systems, 1,005 1,039 500,500 1986/2003
Durham, NH Inc. (13) (19)
43955 Plymouth Oaks Boulevard Tower Automotive Products 943 943 290,133 1996/1998
Plymouth, MI Company
(Tower Automotive, Inc.) (17)
2400 West Haven Avenue Michaels Stores Procurement 880 880 693,000 2004
New Lenox, IL Company, Inc.
(Michaels Stores, Inc.)(17)
291 Park Center Drive Kraft Foods North 710 758 344,700 2001
Winchester, VA America, Inc.(13)
1109 Commerce Boulevard Linens-n-Things, Inc. (17) 629 626 262,644 1998
Logan Township, NJ
-----------------------------------------------------
Subtotal Industrial $ 6,757 $ 6,941 4,006,977
-----------------------------------------------------
$ 32,440 $ 34,372 8,208,208
===================================================
(13) The Company has a 33 1/3% economic interest in this property.
(14) The Company has a 40% economic interest in this property.
(15) Cumulative expense stop on these properties is $1,264 per annum.
(16) Expense stop on this property is $768 per annum.
(17) The Company has a 30% economic interest in this property.
(18) Expense stop on this property is $922 per annum.
(19) Tenant can cancel lease anytime after 9/30/11 with 365 days notice and
payment currently of $23,433.
(20) The Company has a 25% economic interest in this property.
(21) Tenant can cancel lease anytime after 9/30/10 with a payment equal to the
present value of all remaining lease payments, including operating
expenses, discounted at 6%.
(22) Property is currently being developed.
(23) Tenant can cancel lease on 5/1/13 and 3/1/15 for a payment of $2,850 and
$1,500, respectively.
(24) Tenant can cancel lease between 11/1/08 through 10/30/18 with 120 days
notice and a stipulated payment which is in excess of debt balance.
(25) Tenant can cancel lease no earlier than 4/30/13 with 12 months notice and a
payment equal to the net present value of remaining rent discounted at 12%.
(26) Tenant can cancel lease on 12/28/11 with 18 months notice and a payment
equal to two years rent and two years of unamortized tenant allowance.
13
The Lexington Corporate Properties Trust
Supplemental Reporting Package
Properties by Location
6/30/04
Historical 6-Months
Ended June 30, 2004
-------------------
No. of Number of Percent Square Base Rent Percent of
Locations Location Properties(3) Leased Feet(2) ($000's)(1) Base Rent
- -----------------------------------------------------------------------------------------------------------------------
1 Texas 11 100% 2,728,917 $ 9,808 12.2%
2 Ohio 10 100 3,429,888 7,711 9.6
3 South Carolina 9 100 3,060,143 6,984 8.7
4 Florida 7 100 1,708,303 5,786 7.2
5 California 8 100 1,562,738 5,772 7.2
6 Pennsylvania 9 100 1,960,355 5,384 6.7
7 Virginia 8 100 1,192,666 4,388 5.4
8 Utah 1 100 295,000 4,387 5.4
9 Michigan 11 100 2,199,298 3,932 4.9
10 Arizona 6 78 810,187 3,371 4.2
11 New Jersey 4 100 792,145 3,229 4.0
12 Oregon 5 100 539,562 2,493 3.1
13 Illinois 4 100 1,137,465 2,318 2.9
14 Kansas 1 100 320,198 1,921 2.4
15 Connecticut 3 100 225,124 1,246 1.5
16 Massachusetts 2 100 183,698 1,151 1.4
17 Iowa 3 100 668,648 1,087 1.3
18 Georgia 3 100 201,447 1,027 1.3
19 Colorado 2 100 295,075 1,007 1.2
20 Missouri 1 100 166,641 917 1.1
21 Tennessee 5 94 1,797,634 837 1.0
22 Maryland 4 100 222,843 824 1.0
23 Washington 2 100 103,305 752 0.9
24 Louisiana 2 100 135,143 723 0.9
25 North Carolina 2 100 269,814 586 0.7
26 Indiana 1 100 193,000 548 0.7
27 Hawaii 1 100 85,610 486 0.6
28 Alabama 2 100 651,478 433 0.6
29 New Hampshire 1 100 500,500 346 0.4
30 Kentucky 1 - 81,744 322 0.4
31 Minnesota 1 100 18,620 267 0.3
32 Wisconsin 1 100 76,164 231 0.3
33 Oklahoma 1 100 43,123 179 0.2
34 Nevada 1 - - 132 0.2
35 New York 1 - - 73 0.1
------------------------------------------------------------------------------------------------------
Total 134 98.7% 27,656,476 $ 80,658 100.0%
------------------------------------------------------------------------------------------------------
(1)Includes proportionate share of joint venture investments and rental revenue
recognized from properties sold through date of sale.
(2) Includes properties owned and under development as of June 30, 2004.
(3)Includes operating properties owned during the six months ended June 30,
2004.
14
Lexington Corporate Properties Trust
Supplemental Reporting Package
Lease Rollover Schedule by Property Type - Cash Basis
6/30/04
Office Industrial Retail
- --------------------------------------------------------------------------------------------------------------------------------
Cash Rental Net Rent Cash Rental Net Rent Cash Rental Net Rent
Year Revenue(1) PSF Revenue(1) PSF Revenue(1) PSF
- --------------------------------------------------------------------------------------------------------------------------------
2004 $ 337 $ 12.31 $ - $ - $ - $ -
2005 6,225 15.94 1,095 2.96 - -
2006 4,256 10.73 6,199 5.21 1,960 6.57
2007 4,512 15.63 9,714 5.26 820 25.82
2008 4,896 13.57 - - 2,209 8.47
2009 14,947 16.37 2,207 3.49 2,418 6.89
2010 12,021 17.26 2,436 3.61 - -
2011 6,129 20.78 536 4.67 826 6.99
2012 5,277 14.39 7,838 3.67 - -
2013 7,806 12.20 412 6.34 226 13.50
2014 1,581 11.37 3,522 3.65 847 5.88
2015 18,491 11.49 4,072 9.17 469 6.15
2016 4,509 21.42 1,967 4.19 - -
2017 - - 1,286 3.89 645 8.39
2018 3,842 12.00 2,519 3.77 860 9.33
2019 3,616 14.81 4,814 3.13 - -
2020 2,500 17.44 5,003 8.10 - -
2021 4,234 26.88 1,234 3.37 - -
2022 - - - - - -
2023 - - - - - -
2024 - - 568 2.73 821 17.57
(1) Includes proportionate share of joint venture investments.
15
Lexington Corporate Properties Trust
Supplemental Reporting Package
Lease Rollover Schedule - GAAP Basis
6/30/04
($000's)
Percentage of
Total Total
Number of Annualized Annualized
Year Leases Expiring Base Rent (1) Base Rent
- --------------------------------------------------------------------------------------------------------------------
2004 1 $ 337 0.2%
2005 6 7,341 4.3
2006 14 13,849 8.1
2007 5 13,813 8.1
2008 6 7,777 4.6
2009 15 19,392 11.4
2010 11 13,488 7.9
2011 6 8,067 4.7
2012 11 11,952 7.0
2013 9 8,139 4.8
2014 9 6,020 3.5
2015 13 24,297 14.2
2016 5 5,846 3.4
2017 3 1,829 1.1
2018 4 6,940 4.1
2019 4 8,086 4.7
2020 3 7,264 4.3
2021 3 3,808 2.2
2022 - - -
2023 - - -
2024 3 2,269 1.4
-------------------------------------------------------------------------------------------------
Total 131 $ 170,514 100.0%
=================================================================================================
(1) Includes proportionate share of joint venture investments.
16
Lexington Corporate Properties Trust
Supplemental Reporting Package
Mortgages and Notes Payable
6/30/04
($000's)
- ------------------------------------------------------------------------------------------------------------------------------------
Current
Estimated
Debt Interest Annual Balloon
Property - Fixed Rate Balance Rate Maturity Debt Service Payment
- ------------------------------------------------------------------------------------------------------------------------------------
Warren, OH $ 18,833 7.000 Oct-07 $ 6,160 $ --
Bristol, PA 9,677 7.400 Feb-08 831 9,262
Boca Raton, FL(f) 15,275 5.250 Mar-08 802 15,275
Decatur, GA 6,630 6.720 Jun-08 579 6,049
Phoenix, AZ 14,072 7.890 Jun-08 1,434 12,591
Palm Beach Gardens, FL 11,252 7.010 Jun-08 970 10,418
Dubuque, IA 7,276 4.890 Aug-08 513 6,588
Canton, OH 3,289 7.150 Aug-08 313 2,936
Spartanburg, SC 2,732 7.150 Aug-08 260 2,438
Hebron, KY 5,303 7.000 Oct-08 451 4,935
Gainesville, GA(e) 844 7.500 Jan-09 218 --
Florence, SC 9,318 7.500 Feb-09 869 8,443
Ocala, FL 12,830 7.250 Feb-09 1,332 10,700
Canton, OH 1,457 9.490 Feb-09 388 --
Baton Rouge, LA 1,863 7.375 Mar-09 208 1,478
Bristol, PA 5,985 7.250 Apr-09 571 5,228
Livonia, MI 10,966 7.800 Apr-09 992 10,236
Henderson, NC 4,363 7.390 May-09 417 3,854
Westland, MI 2,747 10.500 Sep-09 683 --
Salt Lake City, UT 12,460 7.610 Oct-09 2,901 --
Richmond, VA 16,404 8.100 Feb-10 1,511 15,257
Hampton, VA 4,453 8.260 Apr-10 415 4,144
Hampton, VA 7,261 8.270 Apr-10 677 6,758
Tampa, FL 8,299 6.930 Aug-10 674 7,603
Tampa, FL 6,003 6.880 Aug-10 485 5,495
Herndon, VA 18,726 8.180 Dec-10 1,723 17,301
San Diego, CA 4,205 7.500 Jan-11 411 3,420
Tucson, AZ 2,425 7.500 Jan-11 226 2,076
Columbia, SC 3,391 7.540 Jan-11 317 2,905
Valley Forge, PA 12,961 7.120 Feb-11 1,166 10,927
Glendale, AZ 14,699 7.400 Apr-11 1,258 13,365
Auburn Hills, MI 7,131 7.010 Jun-11 637 5,918
Plymouth, MI 4,738 7.960 Jul-11 463 3,949
Newport, OR 6,951 5.030 Aug-11 470 5,980
Greenville, SC 13,774 4.415 Jan-12 841 11,806
New Kingston, PA 7,213 7.790 Jan-12 678 6,101
Mechanicsburg, PA 5,325 7.780 Jan-12 500 4,503
New Kingston, PA 3,437 7.780 Jan-12 323 2,906
Lake Forest, CA 10,778 7.260 Feb-12 901 9,708
Groveport, OH (c) 7,786 6.030 Oct-12 535 6,860
Dallas, TX 21,134 7.490 Dec-12 2,020 16,030
Fort Mill, SC 11,465 6.000 Jan-13 839 9,904
Waterloo, IA 6,679 5.610 Feb-13 672 3,505
Lancaster, CA (first) 10,537 7.020 Sep-13 900 8,637
Lancaster, CA (second) 8,848 5.920 Sep-13 642 7,518
Knoxville, TN 5,264 5.950 Sep-13 381 4,496
Moody, AL 7,649 4.978 Jan-14 493 6,350
Mechanicsburg, PA 13,807 5.730 Mar-14 1,045 10,501
Redmond, OR 10,080 5.616 Apr-14 743 8,484
Jackson, TN 10,400 5.930 May-14 743 8,820
Eau Claire, WI 2,151 8.000 Jul-14 313 --
Southfield, MI 11,585 4.550 Feb-15 1,058 4,451
Franklin, NC 1,903 8.500 Apr-15 263 --
Mission, TX 6,552 5.780 Jun-15 462 5,371
Houston, TX 27,621 6.250 Sep-15 2,052 6,985
Houston, TX 7,826 6.250 Sep-15 662 2,222
17
Lexington Corporate Properties Trust
Supplemental Reporting Package
Mortgages and Notes Payable
6/30/04
($000's)
- ------------------------------------------------------------------------------------------------------------------------------------
Current
Estimated
Debt Interest Annual Balloon
Property Balance Rate Maturity Debt Service Payment
- ------------------------------------------------------------------------------------------------------------------------------------
Sugar Land, TX 18,139 6.250 Sep-15 1,618 6,286
Houston, TX 68,496 6.250 Sep-15 6,534 18,318
Southborough, MA 2,074 7.500 Sep-15 275 --
Danville, IL 6,574 9.000 Jan-16 692 4,578
Temple, TX 9,158 6.090 Jan-16 668 7,446
Bremerton, WA 6,769 6.090 Apr-16 494 5,465
Dillon, SC 11,955 7.900 Dec-16 1,263 5,273
Westmont, IL 16,024 6.210 Mar-18 1,292 9,662
Overland Park, KS(g) 37,620 5.830 May-19 2,224 31,819
Kansas City, MO(h) 17,950 5.830 May-19 1,061 15,182
Wall Township, NJ 29,969 6.250 Jan-21 2,013 --
------- ----- ------ -------
$ 711,361 6.647% $ 66,479 $ 464,716
------- ----- ------ -------
Property-Variable Rate
Milpitas, CA (a) (b) $ 14,631 4.614% July-05 $ 2,703 $ 12,569
Corporate
Credit Facility (d) $ -- -- % Aug-06 $ -- $ --
------- -------- ------ -------
Total $ 725,992 6.606% $ 69,182 $ 477,285
======== ======== ========== ===========
____________
(a)Floating rate debt, 30 day LIBOR plus 297 bps until 7/1/04 when spread
increases to 350 bps; option to extend maturity to 7/1/06 with spread of 400
bps.
(b)All property cash flows, net of interest expense, are used for principal
amortization.
(c)Interest only through April 2004, and $563 in annual debt service
thereafter.
(d) Floating rate debt, 30/60/90 day LIBOR plus 150 to 250 bps.
(e)Mortgage is accrual only through 01/31/04. Commencing 02/01/04 annual debt
service of $218 is due.
(f) Interest only through maturity.
(g)Interest only through 5/1/09. Commencing 6/1/09 annual debt service of
$2,657 is due.
(h)Interest only through 5/1/09. Commencing 6/1/09 annual debt service of
$1,268 is due.
18
Lexington Corporate Properties Trust
Supplemental Reporting Package
Mortgages Payable
6/30/04
($000's)
- ------------------------------------------------------------------------------------------------------------------------------------
Current
LXP Estimated
Debt Proportionate Interest Annual Balloon
Joint Venture Property Balance Share Rate Maturity Debt Service Payment
- ------------------------------------------------------------------------------------------------------------------------------------
Columbia, SC(1) $ 24,260 $ 9,704 7.850 Oct-09 $ 2,196 $ 22,586
Houston, TX(2) 21,036 7,012 7.580 Oct-09 2,032 18,229
Fishers, IN(2) 14,939 4,980 8.190 Apr-10 1,499 12,960
Herndon, VA(2) 11,482 3,827 7.600 Sep-10 1,107 9,769
Lake Mary, FL(2) 13,148 4,383 7.880 Oct-10 1,181 12,118
Lake Mary, FL(2) 13,109 4,370 7.880 Oct-10 1,178 12,082
Irving, TX(2) 26,413 8,804 8.160 Oct-10 2,432 24,454
Parsippany, NJ(2) 40,762 13,587 7.350 Mar-11 3,472 37,047
Novato, CA(3) 22,667 6,800 5.750 Jul-11 1,600 20,307
Winchester, VA(2) 10,708 3,569 7.330 Aug-11 908 9,675
Antioch, TN(3) 14,900 4,470 7.940 Oct-11 1,580 11,177
Milford, OH(2) 16,901 5,634 8.170 Feb-12 1,724 12,686
Temperance, MI(2) 11,714 3,905 6.000 Sep-12 936 9,400
Laurens, SC(2) 17,474 5,825 6.000 Sep-12 1,396 14,022
Farmington Hills, MI(2) 21,174 7,058 5.420 Sep-12 1,500 17,724
Baton Rouge, LA(3) 6,947 2,084 4.900 Oct-12 443 5,955
Plymouth, MI(3) 12,659 3,798 6.220 Dec-12 1,026 10,026
Colorado Springs, CO(2) 11,803 3,934 6.250 Dec-12 887 10,272
Centennial, CO(3) 15,841 4,752 6.150 Feb-13 1,177 13,555
Malvern, PA(3) 13,316 3,995 5.530 Jan-14 916 11,236
Arlington, TX(4) 21,912 5,478 5.810 Feb-14 1,551 18,605
New Lenox, IL(3) 17,400 5,220 5.510 Feb-14 972 17,400
Logan Township, NJ(3) 7,690 2,307 4.760 Apr-14 371 6,784
Herndon, VA(3) 12,450 3,735 5.920 Apr-15 888 10,371
West Chester, PA(3) 11,379 3,414 6.750 Jul-19 1,204 --
Durham, NH(2) 19,182 6,394 6.730 Mar-21 1,312 --
------ ----- ----- ----- ------------
$ 431,266 $ 139,039 6.802% $ 35,488 $ 348,440
======= ======= ====== ====== ============
_____________________________
1 The Company has a 40% economic interest in this property.
2 The Company has a 33 1/3% economic interest in this property.
3 The Company has a 30% economic interest in this property.
4 The Company has a 25% economic interest in this property.
19
Lexington Corporate Properties Trust
Supplemental Reporting Package
Debt Maturity Schedule
6/30/04
($000's)
Consolidated properties
- ------------------------------------------------------------------------------------------------------------------------------
Scheduled Balloon Balloon Weighted
Amortization Payments Average Interest Rate
------------ -------- ---------------------
2004 - remaining $ 9,147 $ - -
2005 20,990 12,569(1) 4.61%
2006 21,490 - -
2007 26,514 - -
2008 20,163 70,492(2) 6.62%
------------ ------ -----
$ 98,304 $ 83,061 6.32%
============ ====== =====
Joint venture properties - LXP proportionate share
- ------------------------------------------------------------------------------------------------------------------------------
Scheduled Balloon Balloon Weighted
Amortization Payments Average Interest Rate
------------ -------- ---------------------
2004 - remaining $ 916 - -
2005 2,009 - -
2006 2,164 - -
2007 2,357 - -
2008 2,529 - -
------------ -------- ---------
$ 9,975 - -
============ ======== =========
_____________________________
(1) Milpitas, CA property.
(2)Comprised of the following properties: Bristol, PA ($9,262), Boca Raton, FL
($15,275), Decatur, GA ($6,049), Phoenix, AZ ($12,591), Palm Beach Gardens,
FL ($10,418), Dubuque, IA ($6,588), Canton, OH ($2,936), Spartanburg, SC
($2,438) and Hebron, KY ($4,935).
20
Lexington Corporate Properties Trust
Supplemental Reporting Package
Revenue By Tenant Industry
6/30/04
- --------------------------------------------------------------------------------
Percentage of Historical
Tenant Industry 6 Month Base Rent (1)
- --------------------------------------------------------------------------------
Energy 12.2%
Finance/Insurance 11.6
Telecommunications 9.7
Transportation/Logistics 7.9
Retail-Department/ Discount Store 7.7
Technology 6.0
Construction Materials 6.0
Healthcare 5.7
Retail-Specialty 5.4
Aerospace/Defense 4.5
Automotive 4.0
Food 3.7
Retail-Electronics 2.7
Printing/Production 2.6
Consumer Products 2.5
Media/Advertising 2.4
Health/Fitness 1.8
Apparel 1.5
Security 1.4
Paper/Containers/Packaging 0.7
-----
100.0%
======
(1)Includes proportionate share of joint venture investments and rental revenue
recognized from properties sold through date of sale.
21
Lexington Corporate Properties Trust
Supplemental Reporting Package
Other Revenue Data
6/30/04
Historical 6-Month Base Rent
Revenue by Property Type ($000's)(A) Percentage
- ------------------------------------------------------------------------------------------------------------------------------------
Office $ 49,121 60.9%
Industrial 25,085 31.1
Retail 6,452 8.0
------------- -----
$ 80,658 100.0%
============= =====
Revenue by Credit Rating(C)
- ---------------------------
Investment Grade $ 37,192 46.1%
Non-Investment Grade 16,458 20.4
Unrated 27,008 33.5
------------- -----
$ 80,658 100.0%
============= =====
Percentage of
Base Rent for 6
Number of Months
Top 15 Tenants/Guarantors Properties(B) Property Type Ended 6/30/04(A)
- ------------------------------------------------------------------------------------------------------------------------------------
Kmart Corporation 1 Industrial 5.5%
Northwest Pipeline Corp. 1 Office 5.4
Baker Hughes, Inc. 4 Office (3)/Industrial (1) 4.4
Employers Reinsurance Corp. 2 Office 3.5
Exel Logistics, Inc.(NFC plc) 4 Industrial 3.3
Honeywell, Inc. 4 Office 3.0
Nextel Finance Company 4 Office 2.9
Michaels Stores, Inc. 2 Industrial 2.4
Owens Corning 4 Industrial 2.3
VarTec Telecom, Inc. 1 Office 2.2
James Hardie Building Products, Inc. 1 Industrial 2.1
(James Hardie Industries N.V.)
Circuit City Stores, Inc. 3 Office(1)/Retail(2) 2.0
Wells Fargo Home Mortgage, Inc. 1 Office 1.8
Bally Total Fitness Corp. 4 Retail 1.8
Aventis Pharmaceuticals, Inc. 1 Office 1.8
-- ----
37 44.4%
== ====
(A) Includes proportionate share of joint venture investments and rental revenue
recognized from properties sold through the date of sale.
(B) As of June 30, 2004.
(C) As of July 26, 2004.
22