Courtesy of Benzinga.
Lexington Realty Trust (“Lexington”) (NYSE: LXP), a real estate investment trust (REIT), announced today that one of its joint venture subsidiaries closed on the disposition of an unleveraged multi-tenant property located at 1500 Hughes Way, Long Beach, California for gross proceeds of $69.0 million. The property was 74% leased and the capitalization rate on the disposition was approximately 6.8%. Lexington held a 55% interest in the property.
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