NEW YORK CITY-Locally based REIT Lexington Corporate Properties Trust, is selling 2.5 million common shares at $24.36 per share. LXP officials expect to raise approximately $60.7 million which will be used to repay indebtedness, fund acquisitions as well as for general corporate purposes.

The price represents a nearly 3.3% discount from the New York Stock Exchange closing price of $25.19 per share on July 12. The offering is being underwritten by Wachovia Securities. Lexington did not grant the underwriter an over-allotment option. All common shares will be offered under Lexington’s existing shelf registration statement.

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