NEW YORK, Dec. 11, 2015 (GLOBE NEWSWIRE) -- Lexington Realty Trust (“Lexington”) (NYSE: LXP ), a real estate investment trust (REIT) focused on single-tenant real estate investments, today announced James Grosfeld retired from its Board of Trustees and Lawrence L. Gray has been appointed to its Board of Trustees.
Mr. Grosfeld joined Lexington’s Board of Trustees in 2003.
Mr. Gray is Chief Executive Officer of GrayCo, Inc., a private real estate company that owns and manages apartment communities, master planned community investments and timberlands located throughout the Southeast. Prior to joining GrayCo in 2010, Mr. Gray spent seventeen years in the investment banking business, most recently with Wachovia Corporation where he had direct responsibility for the Real Estate Investment Banking, Corporate Banking, Private Equity, Homebuilder Finance and Structured Finance groups.
Prior to Wachovia, Mr. Gray worked in the real estate investment banking groups at J.P. Morgan and Morgan Stanley. Mr. Gray has an A.B. in Economics from the University of North Carolina and a M.B.A. from the University of Virginia. Mr. Gray provides the Board with extensive real estate investment and corporate finance experience.
ABOUT LEXINGTON REALTY TRUST
Lexington Realty Trust is a real estate investment trust that owns a diversified portfolio of equity and debt interests in single-tenant commercial properties and land. Lexington seeks to expand its portfolio through acquisitions, sale-leaseback transactions, build-to-suit arrangements and other transactions. A majority of these properties and all land interests are subject to net or similar leases, where the tenant bears all or substantially all of the operating costs, including cost increases, for real estate taxes, utilities, insurance and ordinary repairs. Lexington also provides investment advisory and asset management services to investors in the single-tenant area. Lexington's common shares are traded on the New York Stock Exchange under the symbol "LXP". Additional information about Lexington is available on-line by contacting Lexington Realty Trust, Investor Relations, at www.lxp.com .
Contact: Investor or Media Inquiries for Lexington Realty Trust: T. Wilson Eglin, CEO Lexington Realty Trust Phone: (212) 692-7200 E-mail: tweglin@lxp.com
