Exhibit 99.2
LEXINGTON CORPORATE PROPERTIES TRUST
SUPPLEMENTAL REPORTING PACKAGE
For the three months ended March 31, 2006
Table of Contents
Income Statements......................................... 1
Balance Sheets............................................ 2
Combined Joint Venture Income Statement................... 3
First Quarter Transaction Summary......................... 4
Property Holdings......................................... 5
Properties by Location.................................... 16
Lease Rollover Schedules.................................. 17
Mortgages and Notes Payable............................... 19
Revenue by Tenant Industry................................ 25
Revenue by MSA............................................ 26
Other Revenue Data........................................ 28
LEXINGTON CORPORATE PROPERTIES TRUST
AND CONSOLIDATED SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(dollars in thousands, except per share data)
Three Months Ended
March 31,
2006 2005
---- ----
Gross revenues:
Rental $ 48,513 $ 35,486
Advisory fees 1,063 634
Tenant reimbursements 4,433 883
-------- --------
Total gross revenues 54,009 37,003
Expense applicable to revenues:
Depreciation and amortization (20,241) (11,550)
Property operating (7,895) (2,637)
General and administrative (5,616) (4,345)
Non-operating income 795 684
Interest and amortization expense (17,892) (12,220)
Debt satisfaction charge (947) --
--------- ---------
Income before benefit (provision) for income
taxes, minority interests, equity in earnings
of non-consolidated entities and discontinued
operations 2,213 6,935
Benefit (provision) for income taxes 73 (96)
Minority interests (493) (828)
Equity in earnings of non-consolidated entities 1,245 1,425
-------- --------
Income from continuing operations 3,038 7,436
-------- --------
Discontinued operations, net of minority interest and taxes:
Income from discontinued operations 799 1,376
Debt satisfaction charge (78) --
Impairment charge -- (30)
Gains on sales of properties 2,319 744
-------- --------
Total discontinued operations 3,040 2,090
-------- --------
Net income 6,078 9,526
Dividends attributable to preferred shares - Series B (1,590) (1,590)
Dividends attributable to preferred shares - Series C (2,519) (2,519)
--------- ---------
Net income allocable to common shareholders $ 1,969 $ 5,417
======== ========
Funds from operations(1) $ 28,653 $ 23,110
======== ========
Per share/unit:
Basic net income $ 0.04 $ 0.11
Diluted net income $ 0.04 $ 0.11
Funds from operations(1)-basic $ 0.45 $ 0.39
Funds from operations(1)-diluted $ 0.45 $ 0.39
1
LEXINGTON CORPORATE PROPERTIES TRUST
AND CONSOLIDATED SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(dollars in thousands)
3/31/06 12/31/05
------- --------
Real estate, at cost $ 1,879,441 $ 1,883,115
Accumulated depreciation (243,820) (241,188)
Investment in joint ventures 187,741 191,146
Properties held for sale - discontinued 38,892 49,397
operations
Intangible assets, net 140,074 128,775
Cash and cash equivalents 61,278 53,515
Deferred expenses, net 14,404 13,582
Rent receivable 3,226 7,673
Rent receivable - deferred 24,795 24,778
Other assets 55,796 49,439
---------- ----------
$ 2,161,827 $ 2,160,232
========== ==========
Mortgages and notes payable $ 1,172,478 $ 1,139,971
Liabilities - discontinued operations 19,730 32,145
Other liabilities 28,964 35,434
Minority interests 60,043 61,372
Shareholders' equity 880,612 891,310
---------- ----------
$ 2,161,827 $ 2,160,232
========== ==========
Common shares 52,866,743 52,155,855
Preferred shares - Series B 3,160,000 3,160,000
Preferred shares - Series C 3,100,000 3,100,000
Operating partnership units 5,629,916 5,720,071
---------- ----------
64,756,659 64,135,926
========== ==========
1 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
JOINT VENTURE
PROPORTIONATE SHARE
COMBINED CONDENSED STATEMENT OF INCOME
(dollars in thousands)
Three Months
Ended
March 31, 2006
Gross Revenues $ 12,795
--------
Depreciation and amortization 5,298
Interest and amortization 4,492
Other income and expenses 2,027
--------
Expenses 11,817
--------
Net income $ 978
========
3
LEXINGTON CORPORATE PROPERTIES TRUST
2006 First Quarter Transaction Summary
Acquisitions ($000's)
Average Current
Annual Average Annual Current
Property Capitalized GAAP GAAP Cash Cash Lease
Tenants/Guarantors Location Type Costs Rent, net Yield Rent, net Yield Term
- ------------------ -------- ---- ----- --------- ----- ------ ----- ----
AS Watson(1) Renswoude, The Office $ 39,291 $ 2,294 5.8% $ 2,851 7.3% 12-11
Netherlands &06-18
Dana Corporation(2) Crossville, TN Industrial 4,776 460 9.6 460 9.6 08-16
------ ------- --- ------ ---
$ 44,067 $ 2,754 6.2% $ 3,311 7.5%
======= ======= ===== ====== =====
Dispositions ($000's)
Property Net Sale Net Book
Tenants/Guarantors Location Type Price Value
- ------------------ -------- ---- ----- -----
The Dial Corporation Scottsdale, AZ Office $ 22,563 $ 22,314
Bally Total Fitness Corp. Countryside, Retail 5,698 3,293
IL -------- --------
$ 28,261 $ 25,607
======== ========
New Leases ($000's)
Extension
Property Previous Extended Rent Per
Tenants/Guarantors Location Type Term Term Annum
- ------------------ -------- ---- ---- ---- -----
The Visiting Nurse Dallas, TX Office -- Jun-16 $ 615
Association of Texas
New Financings ($000's)
Tenants/Guarantors Location Amount Rate Maturity Date
- ------------------ -------- ------ ---- -------------
Harbor Freight Tools USA, Dillon, SC $ 23,750 5.97% Feb-22
Inc.
(i) Structure, LLC Omaha, NE 9,000 5.61 Apr-16
(Infocrossing, Inc.)(2)
(i) Structure, LLC Tempe, AZ 8,500 5.61 Apr-16
(Infocrossing, Inc.)(2)
AS Watson(1) Renswoude, The 33,136 5.31% Apr-11
------- ----
Netherlands
$ 74,386 5.59%
======= ====
(1) Lexington has a 90% interest in this property.
(2) Lexington has a 32.3% interest in this property.
4
Lexington Corporate Properties Trust
Supplemental Reporting Package
Property Holdings
3/31/06
- ------------------------- ----------------------- ----------- ---------- ------------ ----------
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 $ 1,580 $ 1,580 295,000 1982
Salt Lake City, UT Corp.
10001 Richmond Avenue Baker Hughes, Inc. 1,592 1,844 554,385 1976/1984
Houston, TX
6303 Barfield Road & 859 Internet Security 1,569 1,513 289,000 2003
Mount Vernon Hwy. Systems, Inc.
Atlanta, GA
1701 Market Street Morgan Lewis & Bockius 1,211 1,214 322,317 1957
Philadelphia, PA LLP(1) (3)
3480 Stateview Blvd. Wells Fargo Bank N.A. 797 862 169,218 2004
Fort Mill, SC
33 Commercial Street Invensys Systems, Inc. 827 827 164,689 1982
Foxboro, MA (Siebe, Inc.)
3476 Stateview Boulevard Wells Fargo Home 717 755 169,083 2002
Fort Mill, SC Mortgage, Inc.
9950 Mayland Drive Circuit City Stores, Inc. 715 698 288,562 1990
Richmond, VA
1415 Wyckoff Road New Jersey Natural Gas Co. 731 731 157,511 1983
Wall Township, NJ
2750 Monroe Boulevard Quest Diagnostics, Inc. 617 639 109,281 1985/2001
Valley Forge, PA
700 Oakmont Lane North American Van 608 643 269,715 1989
Westmont, IL Lines, Inc.
(SIRVA, Inc.)
70 Mechanic Street Invensys Systems, Inc. 732 640 251,914 1965/1988
Foxboro, MA (Siebe, Inc.)
13651 McLearen Road Boeing North American 683 619 159,664 1987
Herndon, VA Services, Inc.
(The Boeing Company)
1311 Broadfield Blvd. Transocean, Inc. 571 569 103,260 2000
Houston, TX Newpark Resources, 282 284 52,731
Inc.
601 & 701 Experian Pkwy. TRW Inc. (Experian 960 843 292,700 1981/1983
Dallas, TX Information
Solutions, Inc.)
2211 South 47th Street Avnet, Inc. 551 565 176,402 1997
Phoenix, AZ
5600 Broken Sound Blvd Oce Printing Systems 503 561 143,290 1983/2002
Boca Raton, FL USA, Inc.
4200 RCA Boulevard The Wackenhut Corp. 545 542 114,518 1996
Palm Beach Gardens, FL
701 Brookfield Parkway Verizon Wireless 500 517 192,884 2000/2001
Greenville, SC
19019 No. 59th Avenue Honeywell, Inc. 501 495 252,300 1985
Glendale, AZ
5
Lexington Corporate Properties Trust
Supplemental Reporting Package
Property Holdings
3/31/06
- ------------------------- ----------------------- ----------- ---------- ------------ ----------
YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed/
Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated
- ------------------------- ----------------------- ----------- ---------- ------------ ----------
4201 Marsh Lane Carlson Restaurants 467 494 130,000 2003
Carrollton, TX Worldwide, Inc.
12645 W. Airport Road Baker Hughes, Inc. 566 486 165,836 1997
Sugar Land, TX
26210 and 26220 Apria Healthcare 435 448 100,012 2001
Enterprise Court Group, Inc.
Lake Forest, CA
10475 Crosspoint Blvd. John Wiley & Sons, Inc. 599 599 141,047 1999
Fishers, IN
2210 Enterprise Drive Washington Mutual Home 438 425 177,747 1998
Florence, SC Loan, Inc.
27404 Drake Road Dana Corporation 583 545 111,454 1999
Farmington Hills, MI
200 Executive Blvd. S Hartford Fire 420 406 153,364 1983
Southington, CT Insurance Co.
810-820 Gears Road IKON Office Solutions, 557 563 157,790 2000
Houston, TX Inc.
1600 Eberhardt Road Nextel of Texas 369 390 108,800 2001
Temple, TX
2999 SW 6th St. Voice Stream PCS I LLC 334 388 77,484 2004
Redmond, OR (T-Mobile USA, Inc.)
160 Clairemont Avenue Allied Holdings, Inc. 419 382 112,248 1983
Decatur, GA
27016 Media Center Drive Playboy Enterprises, Inc. 335 314 63,049 2000
Los Angeles, CA Sony Electronics, Inc. 66 68 20,203
2800 Waterford Lake Dr. Alstom Power, Inc. 447 504 99,057 2000
Richmond, VA
26555 Northwestern Federal-Mogul 290 355 187,163 1963/1965
Highway Corporation
Southfield, MI
10419 North 30th Street Time Customer Service, Inc. 368 352 132,981 1986
Tampa, FL (Time, Inc.)
250 Rittenhouse Circle Jones Apparel Group 316 346 255,019 1982
Bristol, PA USA, Inc.
(Jones Apparel Group,
Inc.)
8555 South River Pkwy. ASM Lithography Holding 533 460 95,133 1998
Tempe, AZ NV
400 Butler Farm Road Nextel Communications of 329 326 100,632 1999
Hampton, VA the Mid-Atlantic, Inc.
(Nextel Finance
Company)
16676 Northchase Dr. Kerr-McGee Corporation 388 407 101,111 2003
Houston, TX
6200 Northwest Pkwy. PacifiCare Health Systems, 410 405 142,500 2000
San Antonio, TX Inc.
6
Lexington Corporate Properties Trust
Supplemental Reporting Package
Property Holdings
3/31/06
- ------------------------- ----------------------- ----------- ---------- ------------ ----------
YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed/
Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated
- ------------------------- ----------------------- ----------- ---------- ------------ ----------
5757 Decatur Blvd. Allstate Insurance Co. 312 387 84,200 2002
Indianapolis, IN Holladay Property 19 19 5,756
Services
4000 Johns Creek Pkwy. Kraft Foods N.A., Inc. 334 346 73,264 2001
Atlanta, GA PerkinElmer 53 58 13,955
Instruments
LLC
6455 State Hwy 303 NE Nextel West Corporation 242 278 60,200 2001
Bremerton, WA
270 Billerica Road Cadence Design Systems 254 266 100,000 1985
Chelmsford, MA
2550 Interstate Dr. AT&T Wireless Services, 357 362 81,859 1998
Harrisburg, PA Inc.
180 Rittenhouse Circle Jones Apparel Group 236 243 96,000 1998
Bristol, PA USA, Inc. (Jones
Apparel
Group, Inc.)
2529 West Thorns Drive Baker Hughes, Inc. 212 212 65,500 1981/1999
Houston, TX
12000 Tech Center Drive Kelsey-Hayes Company 191 206 80,230 1988
Livonia, MI
2401 Cherahala Boulevard Advance PCS, Inc. 196 205 59,748 2002
Knoxville, TN
1275 NW 128th Street Principal Life Insurance 200 187 61,180 2003
Clive, IA Company
13430 N. Black Canyon Bull HN Information 196 209 69,492 1985/1994/
Freeway Systems, Inc. 2005
Phoenix, AZ Associated Billing -- 51 17,767
Services,
LLC
VACANT -- -- 49,799
12600 Gateway Blvd. Gartner, Inc. 248 263 62,400 1997
Fort Meyers, FL
421 Butler Farm Road Nextel 184 180 56,515 2000
Hampton, VA Communications of
the Mid-Atlantic, Inc.
(Nextel Finance
Company)
3940 South Teller St. Travelers Express, Inc. 273 216 68,165 2002
Lakewood, CO
100 Barnes Road Minnesota Mining and 145 151 44,400 1978/1985
Wallingford, CT Manufacturing
Company
1440 East 15th Street Cox Communications, Inc. 116 114 28,591 1988
Tucson, AZ
250 Turnpike Road Honeywell Consumer 115 115 57,698 1984
Southborough, MA Products
11555 University Blvd. Kelsey-Seybold Clinic 279 307 72,683 2004
Sugarland, TX (St. Luke's
Episcopal Health
System)
Nijborg 15 & 17, 3927 DA AS Watson (Health & Beauty 483 367 122,450 1993/2002
Renswoude, The Continental
Netherlands Europe)(2)
7
Lexington Corporate Properties Trust
Supplemental Reporting Package
Property Holdings
3/31/06
- ------------------------- ----------------------- ----------- ---------- ------------ ----------
YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed/
Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated
- ------------------------- ----------------------- ----------- ---------- ------------ ----------
2300 Litton Lane AGC Automotive Americas 51 60 21,542 1987
Hebron, KY Company
VACANT -- -- 58,878
1600 Viceroy Drive The Visiting Nurse -- 26 48,027 1986
Dallas, TX Association of Texas
VACANT -- -- 201,425
3615 North 27th Avenue VACANT -- -- 179,280 1960/1979
Phoenix, AZ
1301 California Circle VACANT -- -- 100,026 1985
Milpitas, CA
------------------- ------------- ----------- -------------
Subtotal $ 30,157 $ 30,432 9,202,084
------------------- ------------- ----------- -------------
Industrial
- ----------
541 Perkins Jones Road Kmart Corp. $ 2,340 $ 2,233 1,462,642 1982
Warren, OH
19500 Bulverde Road Harcourt Brace 757 857 559,258 2001
San Antonio, TX
2425 Highway 77 North James Hardie Building 850 850 425,816 1996/1997
Waxahachie, TX Products, Inc.
(James
Hardie Industries
NV)
3501 West Avenue H Michaels Stores, Inc. 809 826 762,775 1998/2002
Lancaster, CA
9110 Grogans Mill Road Baker Hughes, Inc. 919 766 275,750 1992
Houston, TX
159 Farley Drive Harbor Freight Tools 687 756 1,010,859 2001
Dillon, SC USA, Inc.
(Central
Purchasing, Inc.)
8305 SE 58th Avenue Associated 517 560 668,034 1976
Ocala, FL Grocers of
Florida, Inc.
590 Ecology Lane Owens Corning 546 546 420,597 2001
Chester, SC
6345 Brackbill Boulevard Exel Logistics, Inc. 509 463 507,000 1985/1991
Mechanicsburg, PA (NFC plc)
3820 Micro Drive Ingram Micro Inc. 509 568 701,819 1997
Memphis, TN
431 Smith Lane Kirkland's, Inc. 357 357 771,120 2004
Jackson, TN
750 N. Black Branch Road Dana Corporation 710 710 539,592 1995/2001
Elizabethtown, KY
6938 Elm Valley Dr. Dana Corporation 461 461 150,945 1999
Kalamazoo, MI
4425 Purks Road Lear Technologies LLC 351 341 183,717 1989/1998
Auburn Hills, MI (Lear Corporation)
(General Motors
Corp.)
8
Lexington Corporate Properties Trust
Supplemental Reporting Package
Property Holdings
3/31/06
- ------------------------- ----------------------- ----------- ---------- ------------ ----------
YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed/
Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated
- ------------------------- ----------------------- ----------- ---------- ------------ ----------
6 Doughten Road Exel Logistics, Inc. 372 337 330,000 1989
New Kingston, PA (NFC plc)
6500 Adelaide Court Anda 306 302 354,676 2002
Groveport, OH Pharmaceuticals, Inc.
(Andrx Corporation)
7500 Chavenelle Road The McGraw-Hill 272 291 330,988 2002
Dubuque, IA Companies, Inc.
12025 Tech Center Drive Kelsey-Hayes Company 262 285 100,000 1987/1988
Livonia, MI
250 Swathmore Avenue Steelcase, Inc. 259 272 244,851 2002
High Point, NC
Moody Commuter & Tech TNT Logistics 264 264 595,346 2004
Park North
Moody, AL America, Inc. (TPG
N.V.)
3102 Queen Palm Drive Time Customer Service, 256 252 229,605 1986
Tampa, FL Inc. (Time, Inc.)
2280 Northeast Drive Ryder Integrated 249 251 276,480 1996/1997
Waterloo, IA Logistics, Inc.
(Ryder Systems,
Inc.)
245 Salem Church Road Exel Logistics, Inc. 276 243 252,000 1985
Mechanicsburg, PA (NFC plc)
200 Arrowhead Drive Owens Corning 257 246 400,522 1999
Hebron, OH
3600 Southgate Drive Sygma Network, Inc. 233 233 149,500 2000
Danville, IL
46600 Port Street Johnson Controls, Inc. 241 241 134,160 1996
Plymouth, MI
1133 Poplar Creek Road Corporate Express 197 202 196,946 1998
Henderson, NC Office
Products, Inc.
(Buhrmann, N.V.)
301 Bill Byran Road Dana Corporation 363 363 410,844 1987/1997/
Hopkinsville, KY 2000
450 Stern Street Johnson Controls, Inc. 182 182 111,160 1996
Oberlin, OH
10000 Business Boulevard Dana Corporation 336 336 336,350 1988
Dry Ridge, KY
7670 Hacks Cross Road Dana Corporation 184 174 268,100 1989
Olive Branch, MS
34 East Main Street Exel Logistics, 180 163 179,200 1981
Inc.
New Kingston, PA (NFC plc)
191 Arrowhead Drive Owens Corning 164 157 250,410 2000
Hebron, OH
904 Industrial Road Tenneco Automotive 147 150 195,640 1968/1972
Marshall, MI Operating Company,
Inc. (Tenneco Automotive,
Inc.)
9
Lexington Corporate Properties Trust
Supplemental Reporting Package
Property Holdings
3/31/06
- ------------------------- ----------------------- ----------- ---------- ------------ ----------
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. 147 147 168,800 1958/1969
Jacksonville, FL
128 Crews Drive Stone Container 135 143 185,961 1968/1998
Columbia, SC Corporation
1901 49th Avenue Owens Corning 139 139 18,620 2003
Minneapolis, MN
7150 Exchequer Drive Corporate Express 109 110 79,086 1998
Baton Rouge, LA Office
Products, Inc.
(Buhrmann, N.V.)
4010 Airpark Drive Dana Corporation 199 199 162,468 1998/2000
Owensboro, KY
324 Industrial Park SKF USA, Inc. 99 99 72,868 1996
Road
Franklin, NC
187 Spicer Drive Dana Corporation 89 85 148,000 1983/1985
Gordonsville, TN
730 N. Black Branch Dana Corporation 134 134 167,770 2001
Road
Elizabethtown, KY
3350 Miac Cove Road Mimeo.com, Inc. 67 93 107,000 1987
Memphis, TN VACANT -- -- 34,359
300 McCormick Road Ameritech Services, Inc. 32 39 20,000 1990
Columbus, OH
1601 Pratt Avenue Joseph Campbell 35 35 58,300 1979
Company
Marshall, MI
477 Distribution Pkwy. Federal Express -- 33 120,000 2005
Colliersville, TN Corporation
---------------------- -------------- ------------ -----------
Subtotal $ 16,507 $ 16,494 15,129,934
---------------------- -------------- ------------ -----------
Retail
- ------
2655 Shasta Way Fred Meyer, Inc. $ 252 $ 252 178,204 1986
Klamath Falls, OR
Fort Street Mall, Liberty House, Inc. 247 243 85,610 1980
King Street
Honolulu, HI
150 N.E. 20th Street Fred Meyer, Inc. 323 323 118,179 1986
Newport, OR
35400 Cowan Road Sam's Real Estate 188 188 102,826 1987/1997
Westland, MI Business Trust
4733 Hills & Dales Scandinavian Health 186 171 37,214 1987
Road Spa, Inc.
Canton, OH (Bally Total Fitness
Corp.)
1160 White Horse Road Physical Fitness 205 123 31,750 1987
Voorhees, NJ Centers of
Philadelphia, Inc.
(Bally Total Fitness
Corp.)
4831 Whipple Avenue, Best Buy Co., Inc. 116 116 46,350 1995
N.W.
Canton, OH
10
Lexington Corporate Properties Trust
Supplemental Reporting Package
Property Holdings
3/31/06
- ------------------------- ----------------------- ----------- ---------- ------------ ----------
YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed/
Property Location Tenant (Guarantor) ($000) ($000) Footage Renovated
- ------------------------- ----------------------- ----------- ---------- ------------ ----------
3711 Gateway Drive Kohl's Dept. Stores, Inc. 117 116 76,164 1994
Eau Claire, WI
399 Peach Wood Centre Best Buy Co., Inc. 99 99 45,800 1996
Dr.
Spartanburg, SC
12535 S.E. 82nd Avenue Toys "R" Us, Inc. 108 90 42,842 1981
Clackamas, OR
24100 Laguna Hills Federated Department 105 87 160,000 1974
Mall Stores, Inc.
Laguna Hills, CA
18601 Alderwood Mall Toys "R" Us, Inc. 100 75 43,105 1981
Boulevard
Lynwood, WA
6910 S. Memorial Toys "R" Us, Inc. 91 68 43,123 1981
Highway
Tulsa, OK
9580 Livingston Road GFS Realty, Inc. 51 68 107,337 1976
Oxon Hill, MD (Giant Food, Inc.)
121 South Center Greyhound Lines, Inc. 54 54 17,000 1968
Street
Stockton, CA
2401 Wooton Parkway GFS Realty, Inc. 29 38 51,682 1977
Rockville, MD (Giant Food, Inc.)
---------------------- -------------- ------------ -----------
Subtotal $ 2,271 $ 2,111 1,187,186
---------------------- -------------- ------------ -----------
---------------------- -------------- ------------ -----------
Grand Total $ 48,935 $ 49,037 25,519,204
---------------------- -------------- ------------ -----------
(1) Company has an 80.5% economic interest in this property. (2) Company has a
90.0% economic interest in this property. (3) Includes 13,268 square feet of
retail space of which 2,842 is vacant.
11
Lexington Corporate Properties Trust
Supplemental Reporting Package
Joint Venture Property Holdings
3/31/06
- ----------------------- ---------------------- -------------- ------------ ----------- ---------- ----------
YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed LXP
Property Location Tenant (Guarantor) ($000) ($000) Footage /Renovated Ownership
- ----------------------- ---------------------- -------------- ------------ ----------- ---------- ----------
Office
- ------
389-399 Interpace Aventis $ 2,307 $ 2,175 340,240 2000 33.33%
Highway Pharmaceuticals, Inc
Morris Corporate (Pharma Holdings
Center IV GmbH)
Parsippany, NJ
17 Technology Circle Blue Cross Blue Shield 1,844 1,733 456,304 1999/2001 40.00%
Columbia, SC of South Carolina
Inc.
275 South Valencia Bank of America NT & 1,893 2,277 637,503 1983 25.00%
Ave. SA
Los Angeles, CA
100 Wood Hollow Drive Greenpoint Mortgage 1,141 1,216 124,600 2001 30.00%
Novato, CA Funding, Inc.
6555 Sierra Drive True North 1,115 1,062 247,254 1999 33.33%
Irving, TX Communications Inc.
101 East Erie Building Foote, Cone & Belding 967 969 203,376 1986 30.00%
Chicago, IL (Interpublic Group
of
Companies, Inc.)
Higgins Development 29 30 19,089 1986
Partners
Lexington Corporate 10 10 2,100 1986
Properties
Trust
5200 Metcalf Avenue Employers Reinsurance 1,019 1,019 320,198 1980/1990/ 25.00%
Overland Park, KS Corporation 2003
27027 Tourney Road Specialty 891 891 187,262 2004 30.00%
Santa Clarita, CA Laboratories, Inc.
8900 Freeport Pkwy. Nissan Motor 1,107 1,203 268,445 2002 30.00%
Irving, TX Acceptance
Corporation/ (Nissan
North
America, Inc.)
15375 Memorial Drive Vastar Resources, Inc. 859 859 327,325 1985 33.33%
Houston, TX
10300 Kincaid Drive Bank One Indiana, N.A. 845 822 193,000 1999 33.33%
Fishers, IN
10300 Town Park Drive Veritas DGC, Inc. 778 812 218,641 2000 30.00%
Houston, TX
600 International First USA Management 745 730 125,155 1997 33.33%
Parkway Services, Inc.
Lake Mary, FL
550 International First USA Management 719 705 125,920 1999 33.33%
Parkway Services, Inc.
Lake Mary, FL
10940 White Rock Road Progressive Casualty 685 701 158,582 2002 30.00%
10929 Disk Drive Insurance
Rancho Cordova, CA Company
2000 Eastman Drive Structural Dynamic 698 697 212,836 1991 33.33%
Milford, OH Research Corp.
3701 Corporate Drive Motorola, Inc. 678 678 119,829 2001 33.33%
Farmington Hills, MI
2050 Roanoke Road Chrysler Financial 797 885 130,290 2001 30.00%
Westlake, TX Company LLC
12
Lexington Corporate Properties Trust
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Joint Venture Property Holdings
3/31/06
- ----------------------- ---------------------- -------------- ------------ ----------- ---------- ----------
YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed LXP
Property Location Tenant (Guarantor) ($000) ($000) Footage /Renovated Ownership
- ----------------------- ---------------------- -------------- ------------ ----------- ---------- ----------
1401 & 1501 Nolan Siemens Dematic 596 633 236,547 2003 25.00%
Ryan Postal
Parkway Automation, L.P.
Arlington, TX
9201 East Dry Creek The Shaw Group, Inc. 518 627 128,500 2001/2002 30.00%
Road
Centennial, CO
110, 120 & 130 E. Capital One 702 722 225,220 1998/2000 30.00%
Shore Dr. Services, Inc.
Richmond, VA
1475 Dunwoody Drive ING USA Annuity and Life 516 510 125,000 1998/1999 30.00%
West Chester, PA Insurance Company
13775 McLearen Road Equant N.V. 462 503 125,293 1984/1988/ 30.00%
Herndon, VA 1992
70 Valley Stream IKON Office 481 499 106,855 1987 30.00%
Parkway Solutions, Inc.
Malvern, PA
5150 220th Avenue Spacelabs Medical, Inc 481 487 106,944 1992 25.00%
Issaquah, WA (OSI Systems, Inc.)
9201 Stateline Employers Reinsurance 472 472 166,641 1963/1985/ 25.00%
Kansas City, MO Corporation 2003
22011 SE 51st Street Spacelabs Medical, Inc 436 417 95,600 1987 25.00%
Issaquah, WA (OSI Systems, Inc.)
1110 Bayfield Drive Honeywell 409 409 166,575 1980/2002 33.33%
Colorado Springs, CO International, Inc.
3601 Converse Drive Verizon Wireless 383 406 160,500 2004 25.00%
Wilmington, NC
275 Technology Drive ANSYS, Inc. 310 338 107,872 1996 30.00%
Canonsburg, PA
Renner Blvd. Voicestream PCS II 299 338 77,484 2004 25.00%
Lenexa, KS Corporation
(T-Mobile USA, Inc.)
East Goldstone Drive Voicestream PCS II 292 330 77,484 2004 25.00%
Meridian, ID Corporation
(T-Mobile USA, Inc.)
1409 Centerpoint Blvd. Alstom Power, Inc. 359 409 84,404 2001 32.30%
Knoxville, TN
3201 Quail Springs AT& T Wireless 336 341 103,500 1999 40.00%
Pkwy. Services, Inc.
Oklahoma City, OK Jordan Associates, 83 83 25,000
Inc.
200 Lucent Lane Lucent Technologies, Inc. 506 542 124,944 1999 30.00%
Raleigh, NC
4455 American Way Bell South 258 273 70,100 1997 30.00%
Baton Rouge, LA Mobility, Inc.
3711 San Gabriel Voice Stream PCS II LLC 225 246 75,016 2004 30.00%
Mission, TX (T-Mobile USA, Inc.)
13
Lexington Corporate Properties Trust
Supplemental Reporting Package
Joint Venture Property Holdings
3/31/06
- ----------------------- ---------------------- -------------- ------------ ----------- ---------- ----------
YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed LXP
Property Location Tenant (Guarantor) ($000) ($000) Footage /Renovated Ownership
- ----------------------- ---------------------- -------------- ------------ ----------- ---------- ----------
4848 129th East Ave. Metris Companies, Inc. 327 327 101,100 2000 32.30%
Tulsa, OK
2310 Village Square AmeriCredit 360 305 85,000 2001 32.30%
Pkwy. Corporation
Jacksonville, FL
4001 International Accor S.A. 746 808 138,443 2003 25.00%
Pkwy. (Motel 6 Operating
Carrollton, TX L.P.)
350 Rhode Island California Culinary 623 599 103,838 2002 30.00%
Street Academy,
San Francisco, CA LLC (Career
Education Corp.)
Starbucks Coffee 17 18 1,500
Company
(Retail)
VACANT -- -- 20,006
2500 Patrick Henry Georgia Power 353 378 111,911 1999 25.00%
Pkwy. Company
McDonough, GA
First Park Drive Omnipoint Holdings, Inc. 296 341 78,610 2005 25.00%
Oakland, ME (T-Mobile USA, Inc.)
11707 Miracle Hills (i) Structure, LLC 292 292 86,800 1995 32.30%
Drive (Infocrossing,
Omaha, NE Inc.)
2005 East Technology (i) Structure, LLC 282 282 60,000 1998 32.30%
Circle (Infocrossing,
Tempe, AZ Inc.)
---------------------- -------------- ----------- ------------
Subtotal Office $ 30,547 $ 31,409 7,594,636
---------------------- -------------- ----------- ------------
Industrial
- ----------
101 Michelin Drive TNT Logistics North $ 776 $ 807 1,164,000 1991/1993 33.33%
Laurens, SC America, Inc.
(TPG N.V.)
Philipp Parkway L'Oreal USA, Inc. 573 630 649,250 2004 25.00%
Streetsboro, OH
7111 Crabb Road TNT Logistics North 519 540 752,000 1978/1993 33.33%
Temperance, MI America, Inc.
(TPG N.V.)
6050 Dana Way Dana Corporation(1) 611 535 677,400 1999 30.00%
Antioch, TN
3600 Army Post Rd. EDS Information 653 714 405,000 2002 30.00%
Des Moines, IA Services LLC
(Electronic Data
Systems
Corporation)
2400 West Haven Michaels Stores 495 495 693,185 2004 30.00%
Avenue Procurement
New Lenox, IL Company, Inc.
(Michaels Stores,
Inc.)
43955 Plymouth Oaks Tower Automotive Products 471 471 290,133 1996/1998 30.00%
Boulevard Company
Plymouth, MI (Tower Automotive, Inc.)
121 Technology Drive Heidelberg Web Systems, 338 462 500,500 1986/2003 33.33%
Durham, NH Inc.
14
Lexington Corporate Properties Trust
Supplemental Reporting Package
Joint Venture Property Holdings
3/31/06
- ----------------------- ---------------------- -------------- ------------ ----------- ---------- ----------
YTD YTD
Base Cash Base GAAP Year
Revenue Revenue Square Constructed LXP
Property Location Tenant (Guarantor) ($000) ($000) Footage /Renovated Ownership
- ----------------------- ---------------------- -------------- ------------ ----------- ---------- ----------
3225 Meridian Hagemeyer Foods, Inc. 371 402 201,845 1995 30.00%
Parkway
Weston, FL
291 Park Center Kraft Foods North 355 378 344,700 2001 33.33%
Drive
Winchester, VA America, Inc.
1109 Commerce Linens-n-Things, Inc. 315 313 262,644 1998 30.00%
Boulevard
Logan Township, NJ
3245 Meridian Circuit City Stores, 262 292 230,600 1995 30.00%
Parkway Inc.
Weston, FL
359 Gateway Drive TI Group Automotive 300 300 133,221 2005 32.30%
Livonia, GA Systems, LLC
900 Industrial Dana Corporation 94 94 172,800 2005 32.30%
Boulevard
Crossville, TN
---------------------- -------------- ----------- ------------
Subtotal Industrial $ 6,133 $ 6,433 6,477,278
---------------------- -------------- ----------- ------------
Retail
- ------
12080 Carmel Kmart Corporation $ 44 $ 245 107,210 1993 30.00%
Mountain
Road
San Diego, CA
5350 Leavitt Road Kmart Corporation 98 182 193,193 1993 30.00%
Lorain, OH
255 Northgate Drive Kmart Corporation 69 129 107,489 1993 30.00%
Manteca, CA
21082 Pioneer Plaza Kmart Corporation 65 121 120,727 1993 30.00%
Drive
Watertown, NY
97 Seneca Trail Kmart Corporation 46 77 90,933 1993 30.00%
Fairlea, WV
1150 West Carl Kmart Corporation 39 72 94,970 1992 30.00%
Sandburg
Drive
Galesburg, IL
---------------------- -------------- ----------- ------------
Subtotal Retail $ 361 $ 826 714,522
---------------------- -------------- ----------- ------------
---------------------- -------------- ----------- ------------
Grand Total $ 37,041 $ 38,668 14,786,436
---------------------- -------------- ----------- ------------
(1) Tenant rejected the lease in bankruptcy as of March 31, 2006.
15
The Lexington Corporate Properties Trust
Supplemental Reporting Package
Properties by Location
3/31/06
Historical 3-Month
Ended March 31, 2006(1)
-----------------------
No. of Number of Percent Square Base Rent Percent of
Locations Location Properties(3) Leased(4) Feet(2) ($000's) Base Rent
- ----------- -------------- ---------- ---------- ---------- ------------------------
1 Texas 23 96.1% 5,099,533 $ 11,247 18.3%
2 South 10 100.0 3,992,453 5,065 8.3
Carolina
3 Pennsylvania 12 99.9 2,472,403 4,414 7.2
4 Ohio 11 100.0 3,738,253 3,890 6.3
5 California 13 95.5 2,671,055 3,506 5.7
6 Florida 12 100.0 2,288,148 3,462 5.6
7 Michigan 13 100.0 2,466,397 3,354 5.5
8 Virginia 8 100.0 1,399,643 2,820 4.6
9 Georgia 5 100.0 733,599 2,484 4.0
10 Arizona 8 75.3 928,764 2,453 4.0
11 Massachusetts 4 100.0 574,301 1,848 3.0
12 Kentucky 6 96.5 1,697,444 1,802 2.9
13 New Jersey 4 100.0 792,145 1,673 2.7
14 Tennessee 9 87.0 2,876,650 1,664 2.7
15 Utah 1 100.0 295,000 1,580 2.6
16 Illinois 6 100.0 1,431,935 1,448 2.4
17 Indiana 3 100.0 424,003 1,279 2.1
18 Oregon 4 100.0 416,709 1,053 1.7
19 Iowa 4 100.0 1,073,648 943 1.5
20 North 5 100.0 800,109 837 1.4
Carolina
21 Washington 4 100.0 305,849 579 0.9
22 Connecticut 2 100.0 197,764 557 0.9
23 Colorado 3 100.0 363,240 540 0.9
24 The 1 100.0 122,450 367 0.6
Netherlands
25 Oklahoma 3 100.0 272,723 343 0.6
26 Kansas 2 100.0 397,682 339 0.6
27 Alabama 1 100.0 595,346 264 0.4
28 Hawaii 1 100.0 85,610 243 0.4
29 Louisiana 2 100.0 149,186 192 0.3
30 Mississippi 1 100.0 268,100 174 0.3
31 New Hampshire 1 100.0 500,500 154 0.3
32 Minnesota 1 100.0 18,620 139 0.2
33 Missouri 1 100.0 166,641 118 0.2
34 Wisconsin 1 100.0 76,164 116 0.2
35 Maryland 2 100.0 159,019 106 0.2
36 Nebraska 1 100.0 86,800 96 0.2
37 Maine 1 100.0 78,610 85 0.1
38 Idaho 1 100.0 77,484 83 0.1
39 New York 1 100.0 120,727 36 0.1
40 West Virginia 1 100.0 90,933 24 --
-------------- ---------- ---------- ---------- ----------- ------------
Total 192 97.6% 40,305,640 $ 61,377 100.00%
-------------- ---------- ---------- ---------- ----------- ------------
(1) Includes proportionate share of joint venture investments and
rental revenue recognized from properties sold through date of
sale.
(2) Includes properties owned as of March 31, 2006.
(3) Includes properties owned during the three months ended March 31,
2006.
(4) As of March 31, 2006.
16
Lexington Corporate Properties Trust
Supplemental Reporting Package
Lease Rollover Schedule by Property Type - Cash Basis
3/31/06
Office Industrial Retail
- ----------- ---------- ----------- ------------ ---------- ----------- ------------ --------- ------------ -----------
Square Cash Rental Net Rent Square Cash Rental Net Rent Square Cash Rental Net Rent
Year Footage Revenue(1) PSF Footage Revenue(1) PSF Footage Revenue(1) PSF
- ----------- ---------- ----------- ------------ ---------- ----------- ------------ --------- ------------ -----------
2006 270,700 $2,386 $ 8.82 938,237 $ 5,097 $ 5.43 -- $ -- $ --
2007 186,504 2,024 14.11 1,920,942 10,802 5.62 -- -- --
2008 444,270 6,240 14.49 -- -- -- 215,418 1,788 8.30
2009 1,837,317 17,924 16.21 831,966 2,015 3.40 205,436 1,943 9.46
2010 2,135,992 17,670 13.91 675,655 2,436 3.61 -- -- --
2011 1,002,689 10,757 20.63 1,046,519 536 4.67 247,249 1,659 6.71
2012 1,860,247 18,282 12.69 4,137,095 9,289 4.30 -- -- --
2013 1,659,473 21,097 15.80 79,086 483 6.11 -- -- --
2014 1,864,411 18,140 15.68 965,160 3,522 3.65 267,337 496 1.85
2015 2,267,937 20,952 14.17 463,870 4,232 9.12 76,164 469 6.15
2016 557,669 6,237 17.60 1,000,158 4,766 5.08 -- -- --
2017 128,500 694 17.99 806,439 2,754 4.32 83,432 596 7.14
2018 556,288 5,446 15.43 668,034 2,519 3.77 806,672 1,175 2.37
2019 502,931 3,971 19.67 2,183,145 5,519 3.50 -- -- --
2020 294,583 4,238 18.36 666,037 4,184 7.51 -- -- --
2021 268,965 6,798 25.27 1,281,804 5,801 4.53 -- -- --
2022 -- -- -- -- -- -- -- -- --
2023 -- -- -- -- -- -- -- -- --
2024 187,262 1,069 19.02 693,185 568 2.73 -- -- --
2025 146,800 764 15.63 2,037,621 9,154 3.20 -- -- --
2026 -- -- -- 500,500 427 2.56 -- -- --
Weighted Average $15.71 $ 4.45 $ 4.66
====== ====== ======
(1) Includes proportionate share of joint venture investments.
17
Lexington Corporate Properties Trust
Supplemental Reporting Package
Lease Rollover Schedule - GAAP Basis
3/31/06
($000's)
Percentage of
Total Total
Number of Annualized Base Annualized
Year Leases Expiring Rent (1) Base Rent
- --------------------------------------------------------------------------------
2006 - remaining 8 $ 5,780 2.4%
2007 7 12,293 5.1
2008 7 7,509 3.1
2009 17 22,449 9.2
2010 19 19,274 7.9
2011 15 15,758 6.5
2012 22 25,599 10.5
2013 14 21,071 8.7
2014 19 22,485 9.3
2015 18 27,489 11.3
2016 11 10,152 4.2
2017 6 4,009 1.6
2018 12 9,642 4.0
2019 8 8,752 3.6
2020 6 7,974 3.3
2021 5 10,113 4.2
2022 -- -- --
2023 -- -- --
2024 2 1,665 0.7
2025 8 9,893 4.1
2026 1 617 0.3
--------------------------------------------------------------
Total 205 $ 242,524 100.0%
==============================================================
(1) Includes proportionate share of joint venture investments.
18
Lexington Corporate Properties Trust
Supplemental Reporting Package
Mortgages and Notes Payable
3/31/06
($000's)
- --------------------------- --------------- ----------- ----------- ------------- ----------------
Current
Estimated
Debt Interest Annual Balloon
Property - Fixed Rate Balance Rate Maturity Debt Service(d) Payment
- --------------------------- --------------- ----------- ----------- ------------- ----------------
Warren, OH(b) $ 8,629 7.000% Oct-07 $ 6,160 $ --
Bristol, PA 9,483 7.400 Feb-08 831 9,262
Boca Raton, FL 15,275 5.250 Mar-08 802 15,275
Decatur, GA 6,383 6.720 Jun-08 579 6,049
Phoenix, AZ 13,466 7.890 Jun-08 1,434 12,591
Palm Beach Gardens, FL 10,916 7.010 Jun-08 970 10,418
Canton, OH 3,150 7.150 Aug-08 313 2,936
Spartanburg, SC 2,616 7.150 Aug-08 260 2,438
Ocala, FL(g) 12,083 7.250 Feb-09 1,332 10,700
Florence, SC 9,003 7.500 Feb-09 869 8,443
Canton, OH 984 9.490 Feb-09 388 --
Baton Rouge, LA 1,731 7.375 Mar-09 208 1,478
Livonia, MI 10,732 7.800 Apr-09 992 10,236
Bristol, PA 5,731 7.250 Apr-09 571 5,228
Henderson, NC(g) 4,196 7.390 May-09 417 3,854
Westland, MI 1,993 10.500 Sep-09 683 --
Salt Lake City, UT 8,841 7.610 Oct-09 2,901 --
High Point, NC 8,533 5.750 Oct-09 695 7,741
Richmond, VA 16,081 8.100 Feb-10 1,511 15,257
Hampton, VA 7,126 8.270 Apr-10 677 6,758
Hampton, VA 4,370 8.260 Apr-10 415 4,144
Tampa, FL 8,121 6.930 Aug-10 674 7,603
Tampa, FL 5,873 6.880 Aug-10 485 5,495
Herndon, VA 18,404 8.180 Dec-10 1,723 17,301
Columbia, SC(g) 3,277 7.540 Jan-11 317 2,905
Tucson, AZ 2,343 7.500 Jan-11 226 2,076
Valley Forge, PA 12,510 7.120 Feb-11 1,166 10,927
Renswoude, NA(f) 33,136 5.305 Apr-11 2,214 29,612
Glendale, AZ 14,411 7.400 Apr-11 1,258 13,365
Dallas, TX 30,582 5.126 May-11 1,589 30,582
Farmington Hills, MI 20,550 5.126 May-11 1,298 19,020
Wallingford, CT 3,453 4.926 May-11 213 3,187
Auburn Hills, MI 6,877 7.010 Jun-11 637 5,918
Plymouth, MI 4,578 7.960 Jul-11 463 3,949
Newport, OR 6,740 5.030 Aug-11 470 5,980
Greenville, SC 13,367 4.415 Jan-12 841 11,806
New Kingston, PA 7,001 7.790 Jan-12 678 6,101
Mechanicsburg, PA 5,168 7.780 Jan-12 500 4,503
New Kingston, PA 3,336 7.780 Jan-12 323 2,906
Lake Forest, CA 10,578 7.260 Feb-12 901 9,708
Memphis, TN 17,827 5.247 May-12 1,143 16,222
Lakewood, CO 8,694 5.097 May-12 547 7,890
Groveport, OH 7,625 6.030 Oct-12 563 6,860
San Antonio, TX 29,480 6.080 Oct-12 2,260 26,025
Foxboro, MA(b) 17,443 6.000 Jan-13 4,265 --
Fort Mill, SC 11,192 6.000 Jan-13 839 9,904
Waterloo, IA 6,144 5.610 Feb-13 672 3,505
Atlanta, GA 45,238 5.268 May-13 2,907 40,356
Houston, TX 17,660 5.218 May-13 1,128 15,737
Southington, CT 13,780 5.018 May-13 858 12,228
Tempe, AZ 13,648 5.148 May-13 864 12,144
Indianapolis, IN 9,638 5.168 May-13 612 8,580
Fort Meyers, FL 8,912 5.268 May-13 476 8,550
Chelmsford, MA 7,008 5.118 May-13 442 6,231
Lancaster, CA (first) 10,259 7.020 Sep-13 900 8,637
Lancaster, CA (second) 8,645 5.920 Sep-13 642 7,518
Knoxville, TN 5,146 5.950 Sep-13 381 4,496
19
Lexington Corporate Properties Trust
Supplemental Reporting Package
Mortgages and Notes Payable
3/31/06
($000's)
- --------------------------- --------------- ----------- ----------- ------------- ----------------
Current
Estimated
Debt Interest Annual Debt Balloon
Property - Fixed Rate Balance Rate Maturity Service(d) Payment
- --------------------------- --------------- ----------- ----------- ------------- ----------------
Foxboro, MA(b) 22,174 6.000 Jan-14 4,916 --
Moody, AL 7,453 4.978 Jan-14 493 6,350
Mechanicsburg, PA 13,341 5.730 Mar-14 1,045 10,538
Redmond, OR 9,853 5.616 Apr-14 697 8,484
Clive, IA 5,920 5.139 May-14 374 5,151
Fort Mill, SC 20,300 5.373 May-14 1,106 18,311
Philadelphia, PA(e) 49,000 5.060 Jul-14 2,514 43,547
Jackson, TN 10,185 5.930 Jul-14 743 8,820
Eau Claire, WI 1,887 8.000 Jul-14 313 --
Carrollton, TX 14,292 5.530 Jan-15 993 12,022
Southfield, MI 10,621 4.550 Feb-15 1,058 4,454
Franklin, NC 1,698 8.500 Mar-15 271 --
Kalamazoo, MI 17,625 5.411 May-15 1,153 15,087
Houston, TX 16,977 5.160 May-15 1,076 14,408
Houston, TX 13,254 5.210 May-15 846 11,265
Fishers, IN 13,182 5.160 May-15 836 11,188
San Antonio, TX 13,071 5.340 May-15 847 11,149
Los Angeles, CA 11,500 5.110 May-15 725 9,760
Atlanta, GA 11,325 5.260 May-15 604 10,502
Richmond, VA 10,608 5.310 May-15 685 9,055
Harrisburg, PA 9,180 5.110 May-15 578 7,780
Elizabethtown, KY(h) 16,584 4.990 Jul-15 1,076 13,831
Hopkinsville, KY(h) 9,717 4.990 Jul-15 631 8,104
Dry Ridge, KY(h) 7,856 4.990 Jul-15 510 6,551
Owensboro, KY(h) 7,026 4.990 Jul-15 456 5,860
Elizabethtown, KY(h) 3,124 4.990 Jul-15 203 2,605
Southborough, MA 1,850 7.500 Sep-15 275 --
Houston, TX(b) 64,734 6.250 Sep-15 6,428 18,318
Houston, TX(b) 26,130 6.250 Sep-15 2,151 6,985
Sugar Land, TX(b) 16,960 6.250 Sep-15 1,647 6,286
Houston, TX(b) 7,422 6.250 Sep-15 668 2,222
Temple, TX 8,967 6.090 Jan-16 668 7,446
Danville, IL 6,383 9.000 Jan-16 692 4,578
Bremerton, WA 6,628 6.090 Apr-16 494 5,465
Dubuque, IA 10,849 5.402 Jun-17 733 8,725
Westmont, IL 15,449 6.210 Mar-18 1,292 9,662
Houston, TX 9,979 5.640 Dec-20 692 7,018
Wall Township, NJ(b) 29,675 6.250 Jan-21 2,013 --
Dillon, SC 23,677 5.974 Feb-22 1,832 13,269
Chester, SC 13,742 5.380 Aug-25 1,144 362
--------- ----- ------- ------
$ 1,180,164 5.975% $ 103,961 $ 865,793
--------- ------ ------- -------
Property-Variable Rate
- ----------------------
Milpitas, CA (a) $ 11,870 8.330% July-06 $ -- $ 11,870
--------- ------ -------- ------
Corporate
- ---------
Credit Facility (c) $ -- -- June-08 $ -- $ --
---------- ------- -------- -------
Total $ 1,192,034 5.999% $ 103,961 $ 877,663
========= ====== ========= =======
20
Lexington Corporate Properties Trust
Supplemental Reporting Package
Mortgages Payable
3/31/06
(000's)
(a) The Company informed the lender that it will no longer make debt service
payments on this loan.
(b) Debt balances based upon imputed interest rates.
(c) Floating rate debt 30/60/90 day LIBOR plus 120 to 170 bps.
(d) Remaining payments for debt with less than 12 months to maturity.
(e) The Company has an 80.5% interest in the property securing the mortgage.
(f) The Company has a 90.0% interest in the property securing the mortgage.
(g) Included in discontinued operations.
(h) Debt balances are net of mortgage investment made by Lexington. All other
figures are gross amounts owed.
21
Lexington Corporate Properties Trust
Supplemental Reporting Package
Mortgages Payable
3/31/06
(000's)
- -------------------------- ------------ ------------ ----------- ------------ -------------- --------------
Current
LXP Estimated
Debt Proportionate Interest Annual Balloon
Joint Venture Property Balance Share Rate Maturity Debt Service Payment
- -------------------------- ------------ ------------ ----------- ------------ -------------- --------------
Santa Clarita, CA $ 28,200 $ 8,460 4.750 Oct-09 $ 1,340 $ 28,200
Columbia, SC 23,766 9,506 7.850 Oct-09 2,196 22,586
Houston, TX 20,221 6,734 7.580 Oct-09 2,032 18,229
Fishers, IN 14,422 4,803 8.190 Apr-10 1,499 12,960
Lorain, OH(1) 3,397 1,019 6.000 Jul-10 873 --
Manteca, CA(1) 2,400 720 6.000 Jul-10 617 --
Watertown, NY(1) 2,257 677 6.000 Jul-10 580 --
Fairlea, WV(1) 1,585 476 6.000 Jul-10 407 --
San Diego, CA(1) 1,530 459 6.000 Jul-10 393 --
Galesburg, IL(1) 1,347 404 6.000 Jul-10 346 --
Irving, TX 25,952 8,642 8.160 Oct-10 2,432 24,454
Lake Mary, FL 12,915 4,301 7.880 Oct-10 1,181 12,118
Lake Mary, FL 12,877 4,288 7.880 Oct-10 1,178 12,082
Parsippany, NJ 39,946 13,302 7.350 Mar-11 3,472 37,047
Novato, CA 22,156 6,647 5.750 Jul-11 1,600 20,307
Winchester, VA 10,501 3,497 7.330 Aug-11 908 9,675
Milford, OH 16,220 5,401 8.170 Feb-12 1,764 12,686
Des Moines, IA 22,761 6,828 5.147 May-12 1,188 22,153
Fort Worth, TX 19,645 5,894 5.097 May-12 1,236 17,823
Raleigh, NC 12,900 3,870 4.947 May-12 647 12,543
Farmington Hills, MI 20,526 6,841 5.420 Sep-12 1,500 17,724
Laurens, SC 16,863 5,620 6.000 Sep-12 1,396 14,022
Temperance, MI 11,304 3,768 6.000 Sep-12 936 9,400
Baton Rouge, LA 6,768 2,030 4.900 Oct-12 443 5,943
Plymouth, MI 12,219 3,666 6.220 Dec-12 1,026 10,026
Colorado Springs, CO 11,546 3,848 6.250 Dec-12 887 10,272
Centennial, CO 15,467 4,640 6.150 Feb-13 1,177 13,555
Los Angeles, CA 80,182 20,046 5.330 May-13 4,333 73,071
Dallas, TX 40,921 12,276 5.218 May-13 2,613 36,453
Malvern, PA 13,006 3,902 5.530 Jan-14 916 11,236
Arlington, TX 21,432 5,358 5.810 Feb-14 1,551 18,588
New Lenox, IL 17,400 5,220 5.510 Feb-14 972 17,400
Logan Township, NJ 7,690 2,307 4.760 Apr-14 371 6,784
Rancho Cordova, CA(1) 18,462 5,539 6.000 Sept-14 1,457 14,646
Weston, FL 10,669 3,201 5.420 Nov-14 733 9,066
Issaquah, WA 32,800 8,200 5.001 Dec-14 1,663 30,388
Canonsburg, PA 9,095 2,729 5.377 Dec-14 489 9,095
Chicago, IL 29,900 8,970 5.105 Jan-15 1,548 29,900
Herndon, VA 12,192 3,658 5.920 Apr-15 888 10,359
Richmond, VA 19,800 5,940 5.110 May-15 1,026 18,321
Oklahoma City, OK 14,749 5,900 5.240 May-15 784 13,673
Knoxville, TN 7,800 2,519 5.310 May-15 504 6,658
Tulsa, OK 7,688 2,483 5.060 May-15 481 6,517
Jacksonville, FL 5,804 1,875 5.110 May-15 366 4,927
McDonough, GA 12,675 3,169 5.212 Jun-15 670 11,349
Mission, TX 6,408 1,922 5.780 Jun-15 462 5,371
Carrollton, TX 20,800 5,200 5.274 Jul-15 1,112 18,677
Houston, TX 23,910 7,173 5.410 Oct-15 1,311 21,846
Omaha, NE 9,000 2,907 5.610 Apr-16 621 7,563
Tempe, AZ 8,500 2,746 5.610 Apr-16 586 7,142
Wilmington, NC 13,000 3,250 5.190 Mar-17 684 11,580
Weston, FL 7,370 2,211 5.520 Nov-17 512 5,758
Lorain, OH(1) 1,470 441 6.000 Jul-18 108 --
Manteca, CA(1) 1,039 312 6.000 Jul-18 77 --
Watertown, NY(1) 977 293 6.000 Jul-18 72 --
Fairlea, WV(1) 686 206 6.000 Jul-18 51 --
San Diego, CA(1) 662 199 6.000 Jul-18 49 --
Galesburg, IL(1) 583 175 6.000 Jul-18 43 --
Overland Park, KS 37,620 9,405 5.830 May-19 2,224 31,819
22
Lexington Corporate Properties Trust
Supplemental Reporting Package
Mortgages Payable
3/31/06
(000's)
- -------------------------- ------------ ------------ ----------- ------------ -------------- --------------
Current
LXP Estimated
Debt Proportionate Interest Annual Balloon
Joint Venture Property Balance Share Rate Maturity Debt Service Payment
- -------------------------- ------------ ------------ ----------- ------------ -------------- --------------
Kansas City, MO 17,950 4,488 5.830 May-19 1,061 15,182
West Chester, PA 10,529 3,159 6.750 Jul-19 1,204 --
Meridian, ID 10,257 2,564 6.010 Aug-19 753 7,658
Streetsboro, OH 20,200 5,050 5.285 Sept-19 1,082 16,338
San Francisco, CA 22,080 6,624 5.580 Nov-19 1,249 18,002
Lenexa, KS 10,307 2,577 6.270 Dec-19 774 7,755
Oakland, ME 10,439 2,610 5.930 Oct-20 750 7,660
Livonia, GA 10,038 3,242 5.460 Dec-20 741 5,895
Durham, NH 19,182 6,393 6.730 Mar-21 1,309 --
Antioch, TN 14,185 4,256 7.940 Oct-21 1,580 774
------- ------- --------- -------- -------
$1,029,148 $ 307,036 5.951% $ 73,034 $ 861,256
========= ======= ========== ======== =======
1. Debt balances based upon imputed rates.
23
Lexington Corporate Properties Trust
Supplemental Reporting Package
Debt Maturity Schedule
3/31/06
($000's)
Consolidated properties
- -----------------------------------------------------------------------------------------
Scheduled Balloon Balloon Weighted
Amortization Payments Average Interest Rate
------------ -------- ---------------------
2006 - remaining $ 18,360 $ 11,870 (1) 8.33%
2007 36,373 -- --
2008 31,220 58,969 6.79
2009 32,389 47,680 7.18
2010 31,211 56,558 7.88
------- ------- ---------
$ 149,553 $ 175,077 7.35%
======= ======= =========
Joint venture properties - LXP proportionate share
- -----------------------------------------------------------------------------------------
Scheduled Balloon Balloon Weighted
Amortization Payments Average Interest Rate
------------ -------- ---------------------
2006 - remaining $ 2,809 $ -- --
2007 4,082 -- --
2008 4,493 -- --
2009 5,170 23,570 6.67%
2010 5,103 20,538 8.06
------- ------- ---------
$ 21,657 $ 44,108 7.31%
======= ======= =========
(1) The Company notified lender it will no longer make debt service payments.
24
Lexington Corporate Properties Trust
Supplemental Reporting Package
Revenue By Tenant Industry
3/31/06
- ---------------------------------------------------- --------------------------
Percentage of Historical
Tenant Industry Annual Base Rent (1)
- ---------------------------------------------------- --------------------------
Energy 13.3%
Finance/Insurance 12.5
Technology 10.7
Automotive 9.6
Telecommunications 5.5
Healthcare 5.4
Transportation/Logistics 5.3
Retail-Department/ Discount Store 5.1
Consumer Products 5.0
Food 4.3
Media/Advertising 4.1
Construction Materials 3.6
Printing/Production 3.5
Retail-Specialty 2.8
Aerospace/Defense 2.2
Service 2.1
Retail-Electronics 1.6
Apparel 1.0
Security 0.9
Health/Fitness 0.6
Paper/Containers & Packaging 0.5
Real Estate 0.4
-------
100.0%
(1) Includes proportionate share of joint venture investments and rental
revenue recognized from properties sold through date of sale.
25
Lexington Corporate Properties Trust
Supplemental Reporting Package
Revenue by MSA
3/31/06
Percent of
Base Rent for the
3 Months Ended
3/31/06
- ------ -------------------------------------------------- -------------------
1 Houston-TX 9.73%
2 Dallas-Fort Worth-TX 5.84%
3 Philadelphia-Wilmington-PA 4.83%
4 Detroit-MI 4.42%
5 Los Angeles-Riverside-Orange County-CA 4.21%
6 Atlanta-GA 3.90%
7 Phoenix-Mesa-AZ 3.81%
8 Youngstown-Warren-OH 3.64%
9 Boston-MA 3.26%
10 Charlotte-NC 2.64%
11 Salt Lake City-UT 2.58%
12 Harrisburg-PA 2.56%
13 New York-Northern New Jersey 2.37%
14 Richmond-VA 2.31%
15 Indianapolis-IN 2.09%
16 San Antonio-TX 2.06%
17 Chicago-IL 1.95%
18 West Palm Beach-Boca Raton-FL 1.80%
19 Washington-Baltimore-DC-MD 1.43%
20 Memphis-TN 1.42%
21 Elizabethtown, KY 1.38%
22 Columbia-SC 1.36%
23 Dillon-SC 1.23%
24 Columbus-OH 1.21%
25 Kalamazoo-Battle Creek-MI 1.05%
26 Cincinnati-OH 1.02%
27 Greenville-Spartanburg-SC 1.00%
28 Tampa-St. Petersburg-FL 0.99%
29 San Francisco-CA 0.95%
30 Seattle-WA 0.94%
31 Ocala-FL 0.91%
32 Chester-SC 0.89%
33 Norfolk-Virginia Beach-Newport News-VA 0.83%
34 Orlando-FL 0.78%
35 Kansas City-MO-KS 0.75%
36 Florence-SC 0.69%
37 Hartford-CT 0.66%
38 Denver-CO 0.66%
39 Des Moines-IA 0.65%
40 Cleveland-OH 0.64%
41 Killeen-Temple-TX 0.64%
42 Redmond-OR 0.63%
43 Renswoude, Netherland 0.60%
44 Clarksville-TN 0.59%
45 Jackson-TN 0.58%
46 Knoxville-TN 0.55%
47 Dubuque-IA 0.47%
48 Canton-OH 0.47%
26
Lexington Corporate Properties Trust
Supplemental Reporting Package
Revenue by MSA
3/31/06
Percent of
Base Rent for the
3 Months Ended
3/31/06
- ------ -------------------------------------------------- -------------------
49 Greensboro-Winston-Salem-NC 0.44%
50 Laurens-SC 0.44%
51 Birmingham-AL 0.43%
52 Fort Meyers-FL 0.43%
53 Klamath Falls-OR 0.41%
54 Waterloo-Cedar Falls-IA 0.41%
55 Jacksonville-FL 0.40%
56 Honolulu-HI 0.40%
57 Danville-IL 0.38%
58 Sacramento-CA 0.34%
59 Miami-Fort Lauderdale-FL 0.34%
60 Newport-OR 0.34%
61 Henderson-NC 0.33%
62 Owensboro-KY 0.32%
63 Baton Rouge-LA 0.31%
64 Tulsa-OK 0.28%
65 Oklahoma, OK 0.27%
66 Raleigh-Durham-Chapel Hill-NC 0.27%
67 Nashville-TN 0.26%
68 New Haven-CT 0.25%
69 Minneapolis-St. Paul-MN 0.23%
70 Colorado Springs-CO 0.22%
71 Winchester-VA 0.21%
72 Eau Claire-WI 0.19%
73 Tucson-AZ 0.19%
74 Wilmington-NC 0.17%
75 Pittsburgh-PA 0.17%
76 Franklin-NC 0.16%
77 Omaha-NE-IA 0.15%
78 Stockton-Lodi-CA 0.15%
79 Clackamas-OR 0.15%
80 Lavonia-GA 0.15%
81 Oakland-ME 0.14%
82 Gordonsville, TN 0.14%
83 Boise City, ID 0.13%
84 McAllen-Edinburg-Mission-TX 0.12%
85 San Diego-CA 0.12%
86 Watertown-NY 0.06%
87 Crossville, TN 0.05%
88 Lewisburg-WV 0.04%
89 Galesburg-IL 0.04%
- ------ -------------------------------------------------- -------------------
Totals 100.00%
27
Lexington Corporate Properties Trust
Supplemental Reporting Package
Other Revenue Data
3/31/06
Historical Year to Date
Revenue by Property Type Base Rent ($000's)(A) Percentage
- ------------------------------------------- -------------------------- --------------------------
Office $ 40,348 65.7%
Industrial 18,467 30.1
Retail 2,562 4.2
--------- ------
$ 61,377 100.0%
========= ======
Revenue by Credit Rating(B)
- ---------------------------
Investment Grade $ 24,725 40.3%
Non-Investment Grade 12,869 21.0
Unrated 23,783 38.7
---------- ------
$ 61,377 100.0%
========== ======
Percentage of
Base Rent for the
Number of 3 Months Ended
Top 15 Tenants/Guarantors Properties(B) Property Type 3/31/06(A)
- ------------------------------------------- ------------ ----------------------------- ----------------
Baker Hughes, Inc. 4 Office (3)/Industrial (1) 5.4%
Dana Corporation(C) 11 Office (1)/Industrial (10) 5.2
Kmart Corporation 7 Industrial(1)/Retail (6) 4.0
Wells Fargo Home Mortgage, Inc. 2 Office 2.6
Northwest Pipeline Corp. 1 Office 2.6
Internet Security Systems, Inc. 1 Office 2.5
Invensys Systems, Inc. (Siebe, Inc.) 2 Office 2.4
Exel Logistics, Inc.(NFC plc) 4 Industrial 2.0
Nextel Finance Company 4 Office 1.9
Morgan, Lewis & Bockius LLP 1 Office 1.8
Owens Corning 4 Industrial 1.8
Michaels Stores, Inc. 2 Industrial 1.6
Harcourt Brace 1 Industrial 1.4
James Hardie Building Products, Inc. 1 Industrial 1.4
(James Hardie Industries N.V.)
TRW, Inc. (Experian Information Solutions, 1 Office 1.4
Inc.) - ---
46 38.0%
== =====
(A) Includes proportionate share of joint venture investments and rental
revenue recognized from properties sold through the date of sale.
(B) As of March 31, 2006.
(C) Tenant declared Chapter 11 bankruptcy in March 2006.
28