LXP Industrial Trust (LXP) sells $175M projects, starts $150M note tender

Rhea-AI Filing Summary

LXP Industrial Trust has sold two vacant development projects in Ocala, Florida and Indianapolis, Indiana totaling 2,138,640 square feet for a gross price of $175 million. The gross sale price is about $29 million above the properties’ gross book value as of June 30, 2025, and LXP expects to receive $151 million after minority partner distributions and transaction costs. The company plans to use the net proceeds for debt repayment and other general corporate purposes.

LXP also began a cash tender offer to buy a portion of its outstanding $300 million 6.75% Notes due 2028, with an aggregate purchase price of up to $150 million (excluding accrued and unpaid interest), as described in an offer to purchase dated October 1, 2025.

Positive

• Asset sale above book value: LXP sold two vacant development projects for a gross price of $175 million, approximately $29 million above their gross book value as of June 30, 2025.
• Cash generation for deleveraging: LXP expects $151 million in net proceeds, which are designated for debt repayment and other general corporate purposes.
• Potential debt reduction: The company commenced a cash tender offer for up to $150 million aggregate purchase price of its outstanding $300 million 6.75% Notes due 2028, which may lower debt and interest costs if completed at scale.

Negative

• None.

Insights

REIT and credit structure analyst

LXP sells non‑income properties above book and launches a sizable bond tender funded in part by sale proceeds.

LXP Industrial Trust sold two vacant development projects totaling 2,138,640 square feet for a gross price of $175 million, about $29 million above their gross book value as of June 30, 2025. After minority partner distributions and transaction costs, LXP expects net proceeds of $151 million, which are earmarked for debt repayment and other general corporate purposes. Monetizing vacant development assets at a premium to book can simplify the portfolio and generate cash without sacrificing current rental income.

In parallel, LXP commenced a tender offer to repurchase for cash a portion of its outstanding $300 million 6.75% Notes due 2028, with an aggregate purchase price cap of $150 million (excluding accrued and unpaid interest). The tender is governed by an offer to purchase dated October 1, 2025, which sets the detailed terms and conditions. If noteholders participate meaningfully, this transaction could reduce debt and interest expense, but the actual impact will depend on tender uptake and pricing under that offer document.

8-K Event Classification

3 items: 7.01, 8.01, 9.01

3 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 30, 2025

LXP INDUSTRIAL TRUST

(Exact name of registrant as specified in its charter)

Maryland

1-12386

13-3717318

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

515 N Flagler Dr, Suite 408,

West Palm Beach

FL

10119-4015

(Address of Principal Executive Offices)

(Zip Code)

(212) 692-7200

Registrant's telephone number, including area code

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Shares of beneficial interest, par value $0.0001 per share, classified as Common Stock			LXP			New York Stock Exchange
6.50% Series C Cumulative Convertible Preferred Stock, par value $0.0001 per share			LXPPRC			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 7.01. Regulation FD Disclosure.

On October 1, 2025, LXP Industrial Trust, or LXP, released a press release announcing the transaction described in Item 8.01 of this Current Report on Form 8-K, a copy of which is furnished herewith as Exhibit 99.1.

Also on October 1, 2025, a presentation titled "Sale Of Development Projects In Central Florida and Indianapolis Markets" was made available on the "Investors" section of the LXP website.

The information furnished pursuant to this “Item 7.01 - Regulation FD Disclosure”, including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, or the Exchange Act, otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing made by LXP under the Exchange Act or the Securities Act of 1933, regardless of any general incorporation language in any such filing, except as shall be expressly set forth by specific reference in such a filing. Information contained on LXP’s website is not incorporated by reference into this Current Report on Form 8-K.

Item 8.01.    Financial Statements and Exhibits.

On September 30, 2025, LXP sold two vacant development projects, totaling 2,138,640 square feet, located in Ocala, Florida and Indianapolis, Indiana for a gross aggregate price of $175 million. The gross sale price is approximately $29 million in excess of the gross book value of the properties as of June 30, 2025. LXP expects to receive $151 million after deducting minority partner distributions and transaction costs. Net proceeds from the sale will be used for debt repayment and other general corporate purposes.

On October 1, 2025, LXP issued a press release announcing that it has commenced a tender offer to purchase for cash an amount of its outstanding $300 million 6.75% Notes due 2028 with an aggregate purchase price of up to $150 million (excluding accrued and unpaid interest). The tender offer is being made exclusively pursuant to an offer to purchase, dated October 1, 2025, which sets forth the terms and conditions of the tender offer. The press release is attached as Exhibit 99.2 hereto and incorporated in this Item 8.01 by reference.

Item 9.01.    Financial Statements and Exhibits.

(d)			Exhibits
99.1			Press Release issued October 1, 2025
99.2			Press Release issued October 1, 2025
104			Cover Page Interactive Data File (embedded within the XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

									LXP Industrial Trust
Date:			October 1, 2025			By:			/s/ Joseph S. Bonventre
									Joseph S. Bonventre
									Secretary

FAQ

What major transaction did LXP (LXP) announce in this 8-K?

LXP Industrial Trust announced it sold two vacant development projects in Ocala, Florida and Indianapolis, Indiana totaling 2,138,640 square feet for a gross aggregate price of $175 million.

How does the LXP (LXP) sale price compare to the properties’ book value?

The gross sale price of $175 million is approximately $29 million higher than the gross book value of the properties as of June 30, 2025.

How much cash does LXP (LXP) expect to receive from the asset sale and how will it be used?

LXP expects net proceeds of $151 million after minority partner distributions and transaction costs, and plans to use the cash for debt repayment and other general corporate purposes.

What debt tender offer did LXP (LXP) commence?

LXP started a tender offer to purchase for cash a portion of its outstanding $300 million 6.75% Notes due 2028, with an aggregate purchase price of up to $150 million (excluding accrued and unpaid interest).

Where can investors find more details on LXP’s (LXP) tender offer?

The tender offer is being made exclusively under an offer to purchase dated October 1, 2025, which sets out the specific terms and conditions.

What disclosures did LXP (LXP) provide under Regulation FD?

LXP furnished a press release as Exhibit 99.1 and made a presentation titled "Sale Of Development Projects In Central Florida and Indianapolis Markets" available in the Investors section of its website.