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BRIEF-Lexington Realty sells New York land investments for $338 mln
September 30, 2016 / 11:17 AM / a year ago

BRIEF-Lexington Realty sells New York land investments for $338 mln

Sept 30 (Reuters) - Lexington Realty Trust :

* Lexington Realty Trust sells New York city land investments for $338 million

* As result of sale, Lexington expects to record an estimated non-cash impairment charge of approximately $65 million in Q3 of 2016

* “Sale has reduced our leverage considerably and produced cash to retire outstanding balance on our revolving credit facility”

* In connection with sale, approximately $213.1 million of mortgage debt was assumed by buyer Source text for Eikon: Further company coverage: [LXP.N ]

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