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REIT Appointed Net Lease Advisor for Investment Fund

NEW YORK CITY-The move is the first step in a shift by Lexington Corporate Properties Trust from a buy-and-hold strategy to active portfolio management.

By John Howe | Updated on October 23, 2000

NEW YORK CITY-Lexington Realty Advisors, an affiliate of Lexington Corporate Properties Trust, located here, has signed an agreement to invest and manage $50 million of equity on behalf of a private investment fund. Depending on the leverage employed, acquisitions of up to $150 million may be made in single-tenant, net lease office, industrial and retail properties. Formed by LCP to provide services to institutional investors in the net-lease arena, this program is LRA’s first separate account.

Commenting on this undertaking, T. Wilson Eglin, president and COO of LCP, notes that the firm is “implementing a business plan to transform Lexington from a company viewed as having only a buy-and-hold strategy to one that is able to deliver superior returns to shareholders by actively managing its portfolio.”

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