NEW YORK, Dec 30, 2003 /PRNewswire-FirstCall via Comtex
Lexington Corporate Properties Trust (NYSE: LXP), a real estate investment trust, today announced that it has acquired an office/R&D facility in Arlington, Texas. The purchase price was approximately $30.1 million.
The property consists of two newly-constructed adjacent but separate buildings -- a three-story office building and a single-story R&D facility, that contain 160,016 square feet and 73,767 square feet, respectively. The property, which will serve as the headquarters of Siemens Dematic Postal Automation ('Siemens'), is net-leased to Siemens through January 2014. Lexington has arranged for a $22.0 million non-recourse first mortgage secured by the property. The loan is expected to bear interest at a fixed interest rate of 5.81% and mature in ten years.
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Tuesday, December 30, 2003
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