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LXP Industrial Trust Closes on $600 Million Unsecured Revolving Credit Facility and $250 Million Unsecured Term Loan

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Extends Maturity and Reduces Pricing on Unsecured Revolving Credit Facility and Term Loan Extends Ma...

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LXP closed a $600 million revolving credit facility, enhancing financial flexibility. Interest costs reduced due to lower SOFR rates for new credit facility. Refinanced $250 million term loan, extending maturity and lowering interest. S&P Global Ratings revised LXP's outlook to positive, signaling improved financial health. Focus remains on expanding Class A warehouse investments across key markets.

Sentiment Rationale

The refinancing and improved credit terms show strong management and financial health, contributing to potentially increased investor confidence and stock appreciation.

Trading Thesis

These financing decisions and favorable leverage ratios position LXP for sustained growth and stability, setting the stage for long-term value creation similar to other successful REITs with strategic debt management.

Market-Moving

  • LXP closed a $600 million revolving credit facility, enhancing financial flexibility.
  • Interest costs reduced due to lower SOFR rates for new credit facility.
  • Refinanced $250 million term loan, extending maturity and lowering interest.

Key Facts

  • LXP closed a $600 million revolving credit facility, enhancing financial flexibility.
  • Interest costs reduced due to lower SOFR rates for new credit facility.
  • Refinanced $250 million term loan, extending maturity and lowering interest.
  • S&P Global Ratings revised LXP's outlook to positive, signaling improved financial health.
  • Focus remains on expanding Class A warehouse investments across key markets.

Companies Mentioned

  • SPG (SPG)
  • PLD (PLD)
  • DRE (DRE)
  • FR (FR)
  • ESS (ESS)

Corporate Developments

The article discusses significant financial transactions that impact LXP's operational flexibility and leverage, crucial for its future investments and growth strategy.

LXP Industrial Trust Secures $600 Million Credit Facility and $250 Million Term Loan

WEST PALM BEACH, Fla., Jan. 14, 2026 (GLOBE NEWSWIRE) -- LXP Industrial Trust (“LXP”) (NYSE:LXP), a prominent real estate investment trust (REIT) specializing in Class A warehouse and distribution properties, has successfully closed a $600 million senior unsecured revolving credit facility. This facility amends and restates LXP’s previous revolving credit agreement, enhancing its financial position.

Details of the New Credit Facilities

The newly established revolving credit facility is set to mature on January 31, 2030, with an option for LXP to extend the maturity for up to two successive six-month periods or one twelve-month term, subject to certain conditions. This agreement features an interest rate of SOFR plus 77.5 basis points, a decrease from the previous rate of SOFR plus 95 basis points. Additionally, the facility imposes a fee of 15 basis points on total commitments, reduced from 20 basis points.

Refinancing of Unsecured Term Loan

In conjunction with the credit facility, LXP has also announced the refinancing of a $250 million unsecured term loan. This loan will have an initial maturity date of January 31, 2029, with options for two one-year extensions at LXP's discretion, subject to certain conditions. The term loan features an interest rate of SOFR plus 85 basis points, a reduction from the previous rate of 110 basis points.

Strengthening Balance Sheet and Financial Flexibility

Nathan Brunner, Chief Financial Officer of LXP, stated, “The new debt facilities extend our debt maturity profile and reduce our interest costs, further strengthening our balance sheet and increasing our financial flexibility. This builds on the balance sheet progress we achieved in 2025, including reducing leverage to approximately five times net debt to Adjusted EBITDA. This positive shift was acknowledged by S&P Global Ratings, which revised LXP’s outlook to positive."

Key Arrangers and Agents

KeyBanc Capital Markets, Inc., Wells Fargo Securities, LLC, and Regions Capital Markets served as Joint Lead Arrangers and Joint Bookrunners for these transactions. KeyBank National Association acted as the Administrative Agent, while Wells Fargo Bank, National Association and Regions Bank served as Syndication Agents. The following banks also participated as Documentation Agents:

  • Bank Of America, N.A.
  • Citizens Bank, N.A.
  • Mizuho Bank, Ltd.
  • JPMorgan Chase Bank, N.A.
  • PNC Bank, National Association
  • TD Bank, N.A.
  • U.S. Bank National Association
  • Associated Bank, National Association

About LXP Industrial Trust

LXP Industrial Trust (NYSE: LXP) is a publicly traded REIT focused on Class A warehouse and distribution investments across 12 target markets in the Sunbelt and lower Midwest. The company aims to expand its portfolio through acquisition strategies, build-to-suit transactions, sale-leaseback deals, and various development projects.

Contact Information

For investor or media inquiries related to LXP Industrial Trust, please contact:

Heather Gentry, Executive Vice President of Investor Relations
LXP Industrial Trust
Phone: (212) 692-7200
E-mail: hgentry@lxp.com

Forward-looking Statements

This release contains certain forward-looking statements as defined by the Securities Act of 1933 and the Securities Exchange Act of 1934. All statements other than historical facts are considered forward-looking, which may involve various risks and uncertainties that could cause actual results to differ materially from LXP’s expectations. These factors and risks are detailed in LXP's periodic SEC filings. Except as required by law, LXP does not have an obligation to publicly update these forward-looking statements after the date of this release.

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