Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Lexington Corporate Properties Trust and Newkirk Realty Trust Inc. will hold special shareholder’s meetings on Nov. 20 to approve the merger of the two companies. The meetings will be held in New York.

Last Friday was the deadline, chosen by Lexington’s board of trustees, to determine which of the shareholders were entitled to vote at the meeting, according to a company release. Newkirk’s trustees as of Oct. 13 are eligible to vote.

At the end of July, as reported by GlobeSt.com,Lexington and Newkirk signed a Merger Agreement. According to Newkirk’s Proposed Merger-Investor Presentation, released just days after the announcement of the merger, the enterprise value of the merger is estimated at $4.6 billion and will include a total of 350 properties totaling 57 million sf. The properties are located in 44 states, although the largest concentration is on the East and West coasts.

The combined companies will be named Lexington Realty Trust and Lexington’s common annualized dividend is expected to increase by $1.50 per share once the merger is complete.

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?

Dig Deeper



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
Live Chat

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