Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Effective after the close of the New York Stock Exchange on July 20, Standard & Poor’s will replace Franchise Finance Corp. of America in its S&P REIT Composite Index with Lexington Corporate Properties. Franchise Finance is being acquired by GE Capital.

Lexington, headquartered here, is a self-managed trust that owns and manages a diverse portfolio of 98 US properties in 30 states that are net-leased to major corporations. Its holdings total approximately 15.7 million sf of space.

Separately, Lexington declared a dividend of 32 cents per common share payable on Aug. 14 to shareholders of record as of July 31.

Franchise Finance, based in Scottsdale, AZ, specializes in mortgages and long-term real estate leases, construction and acquisition financing and equipment loans to multi-unit operators of chain restaurants and convenience stores. Its investment/servicing portfolio totals more than 67,400 properties in the US and Canada.

Created in 1997, the S&P REIT Composite Index, which tracks 105 companies, covers 90% of the securitized US real estate market.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.