The Lexington Master Limited Partnership and the undisclosedco-investor will buy the mostly single-tenant net leased propertieslocated in 28 states from the REIT and its subsidiaries. "Theco-investment program is under contract to acquire 53 primarilysingle-tenant net leased assets," the spokesperson notes. "Some ofthe properties are for specialty use such as data centers ormanufacturing facilities."
The spokesperson adds that, "in early June, the Lexington RealtyTrust board put together a strategic restructuring plan. This wasone of the steps."
The properties contain an aggregate of more than eight millionnet rentable sf. In addition to the 53 assets under contract, theLexington Master Limited Partnership and its co-investor intend toinvest $22.5 million and $127.5 million, respectively, in theco-investment program to acquire additional specialty single-tenantnet leased assets.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
