Lxp Industrial Trust · NYSE:LXP

Lxp Industrial Trust — Merger or Acquisition (January 2022)

13 slides from Lxp Industrial Trust's merger presentation, Jan 3, 2022

  1. Slide 1: $550 Million Recapitalization of Special Purpose Industrial Portfolio

    $550 Million Recapitalization of Special Purpose Industrial Portfolio January 3, 2022

  2. Slide 2: Disclosure

    LXP INDUSTRIAL TRUST In the following presentation the term “pro forma” represents the adjustment to information at September 30 , 2021 to reflect : – The recapitalization of 22 special purpose industrial assets to a new joint venture – The reclassification of four assets – two assets to Warehouse/D

  3. Slide 3: LXP Industrial Trust: a focused portfolio of high quality, single-tenant warehouse/distribution facilities

    LXP INDUSTRIAL TRUST 1 LXP Industrial Trust: a focused portfolio of high quality, single - tenant warehouse/distribution facilities As of 9/30/21 1 Warehouse/Distribution Cold Storage Pro Forma 9/30/21 102 warehouse/distribution facilities well - located in key logistics markets throughout the Sun B

  4. Slide 4: Recapitalization Transaction Summary

    LXP INDUSTRIAL TRUST 2 Recapitalization Transaction Summary Transaction Ownership Financing • On December 29, 2021, LXP Industrial Trust ("LXP") recapitalized a 22 - property special purpose industrial portfolio consisting of primarily manufacturing assets with a gross valuation of $550 million thro

  5. Slide 5: Transaction Benefits to LXP

    LXP INDUSTRIAL TRUST 3 Transaction Benefits to LXP Increases financial capacity for growth and reinvestment in warehouse/distribution assets on - balance sheet Generates fee income to enhance return on equity – acquisition, asset management, property management and leasing fees – Additional upside f

  6. Slide 6: Joint Venture Capitalization/Sources & Uses

    LXP INDUSTRIAL TRUST Capitalized JV Value (Purchase Price/Venture Costs) $ 550 Venture Costs/Reserves 11 Existing Mortgage Debt (26) New Joint Venture Mortgage Debt (381) Joint Venture Equity $ 154 LXP Interest (20%) 1 $ 31 Investor Partner Interest (80%) $ 123 4 Joint Venture Capitalization/Sources

  7. Slide 7: Significantly Improved Portfolio Quality with a Warehouse/Distribution Focus

    LXP INDUSTRIAL TRUST 5 Significantly Improved Portfolio Quality with a Warehouse/Distribution Focus 1. Portfolio breakdown by Gross Book Value. 74% YE 2015 1 Pro Forma 9/30/21 1 YE 2018 1 Warehouse/Distribution : ~16% Manufacturing, Cold Storage, Office & Other: ~84% Warehouse/Distribution : ~48% Ma

  8. Slide 8: Highlights of LXP's Pro Forma Industrial Portfolio

    LXP INDUSTRIAL TRUST 6 Highlights of LXP’s Pro Forma Industrial Portfolio Amazon 8.4 % Nissan 6.3 % Kellogg 4.8 % Undisclosed 3 3.5 % Watco 3.4 % FedEx 2.8 % Wal - Mart 2.8 % Undisclosed 3 2.8 % Unis 2.3 % Mars Wrigley 2.3 % Top 10 Tenants 48.8mm square feet 102 properties 99.0% leased 2 6.7 yrs WAL

  9. Slide 9: Selected Properties of LXP's Industrial Portfolio

    LXP INDUSTRIAL TRUST 7 Selected Properties of LXP’s Industrial Portfolio High Quality Portfolio of Warehouse & Distribution Facilities Phoenix AZ 160K Ball $6.14 2.25% Indianapolis IN Continental Tire Dallas/Ft. Worth TX Schluter Memphis TN McCormick Greenville/ Spartanburg SC BMW Market Tenant SF R

  10. Slide 10: LXP Offers a Highly Attractive Investment Opportunity

    LXP INDUSTRIAL TRUST 8 LXP Offers a Highly Attractive Investment Opportunity Platform primed for growth with a focused portfolio, development pipeline and improved balance sheet and cost of capital 3 Leading portfolio of primarily single - tenant warehouse/distribution facilities in key logistics ma

  11. Slide 11: Appendix

    LXP INDUSTRIAL TRUST . Appendix

  12. Slide 12: Joint Venture Property Summary

    LXP INDUSTRIAL TRUST Joint Venture Property Summary General Portfolio Description Financial Profile (in millions) # of Properties 22 Square Feet (SF) 6,719,210 WAVG Lease Term (Cash Basis – Years) 8 Portfolio % Leased 100% GAAP Rental Revenue (YTD 9/30/2021) $30.5 NOI (YTD 9/30/2021) – GAAP $30.4 NO

  13. Slide 13: Joint Venture Property List

    LXP INDUSTRIAL TRUST 10 Joint Venture Property List 318 Pappy Dunn Blvd. Anniston AL Anniston/Oxford, AL 276,782 2029 4801 North Park Dr. Opelika AL Columbus, GA 165,493 2042 1020 W. Airport Rd. Romeoville IL Chicago, IL 188,166 2031 301 Bill Bryan Blvd. Hopkinsville KY Nashville, TN 424,904 2025 73

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