Investments in Real Estate (Tables)

9 Months Ended

Sep. 30, 2026

During the nine months ended September 30, 2026, the Company acquired the following covered infill industrial redevelopment site:


Market (% owned)	Acquisition Date	Initial Cost Basis		Primary Lease Expiration Date	Land		Building and Improvements		In-place Lease Intangible		Above Market Lease Intangible, net
Phoenix, AZ (100%)(1)	May 2026	$	103,164	03/31	$	47,300	$	21,693	$	24,843	$	9,328







Weighted-average life of intangible assets (years)									4.9

(1) The Company views the acquisition as a covered land investment with the potential for future redevelopment into industrial warehouse facilities. As of the acquisition date, the property remains subject to an existing lease, and the timing of any redevelopment is unknown.

Schedule of Real Estate Properties

As of September 30, 2026, the details of the outstanding development arrangements are as follows (in $000s, except square feet):


Project (% owned)	# of Buildings	Market	Estimated Sq. Ft.	Estimated Project Cost		GAAP Investment Balance as of 09/30/26(1)		LXP Amount Funded as of 09/30/26(2)		Estimated Base Building Completion Date	% Leased as of 09/30/26
Development Projects
Reems & Olive - Building D (95.5%)	1	Phoenix, AZ	1,184,591	$	121,900	$	98,163	$	73,924	4Q 2026	100.0	%

Redevelopment Projects
Orlando (100.0%)(3)	1	Central FL	350,990	$	9,400	$	18,130	$	3,900	3Q 2027	—	%



Land Infrastructure Improvements
Reems & Olive (95.5%)(4)	N/A	Phoenix, AZ	N/A	$	16,500	$	13,650	$	16,439	N/A	N/A

Total	2		1,535,581	$	147,800	$	129,943	$	94,263

(1) Excludes leasing costs, incomplete costs and developer incentive fees or partner promotes if any.

(2) Excludes noncontrolling interests' share.

(3) Estimated project costs exclude estimated tenant improvements and leasing costs.

(4) Represents infrastructure development costs to prepare the land for vertical development.

As of September 30, 2026, the details of the land held for industrial development are as follows (in $000s, except acres):


Project (% owned)	Market	Approximate Acres	GAAP Investment Balance as of 9/30/2026		LXP Amount Funded as of 9/30/2026(1)
Consolidated
Reems & Olive (95.5%)	Phoenix, AZ	240	$	57,178	$	57,077
Mt. Comfort Phase II (80.0%)	Indianapolis, IN	116	5,879		4,768
ATL Fairburn (100.0%)	Atlanta, GA	14	1,732		1,779
Total Consolidated Land		370	$	64,789	$	63,624

(1) Excludes noncontrolling interests' share.