NEW YORK, (GLOBE NEWSWIRE) -- Lexington Realty Trust (NYSE:LXP), a real estate investment trust (REIT) focused on single-tenant industrial real estate investments, today announced that it has commenced an underwritten public offering of 15,000,000 common shares. In connection with the offering, Lexington intends to grant the underwriters a 30-day option to purchase up to an additional 2,250,000 common shares to cover over-allotments, if any.

Lexington intends to use the net proceeds from the offering for working capital and general corporate purposes, including acquisitions it may identify in the future. Pending the application of such net proceeds, Lexington may use such net proceeds to pay down all or a portion of the outstanding balance under its revolving credit facility.

Morgan Stanley and BofA Securities are acting as underwriters for the offering. The underwriters may offer the common shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices at the time of sale or at negotiated prices.

ABOUT LEXINGTON REALTY TRUST

Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on single-tenant industrial real estate investments across the United States. Lexington seeks to expand its industrial portfolio through build-to-suit transactions, sale-leaseback transactions, development projects and other transactions, including acquisitions.