News Details

HOUSTON--(BUSINESS WIRE)-- As of March 1, 2010, Means Knaus Partners LP and Lexington Realty Trust (NYSE:LXP) have formed a joint venture, Lexington MKP Management L.P., which will perform property management and construction management services and oversee leasing and development for certain Lexington properties across the nation.

"This new venture will capitalize on the strengths and expertise of both organizations, focus on enhancing asset values, and provide the highest level and quality of service and operational execution," says Robert Roskind, Chairman of Lexington Realty Trust. "Means Knaus Partners is one of the country's premier real estate firms and we are proud to integrate its national expertise and property management skills with Lexington's asset management operations. This venture provides Lexington with the flexibility to respond to today's rapidly changing and competitive market place."

"The Lexington MKP joint venture objective is to deliver a consistently high quality of service to clients and tenants, and to streamline operations. We hope to jointly develop new business opportunities throughout the Lexington portfolio and to improve property operating efficiencies," says Doug Knaus, CEO of Means Knaus. "Our strategy is to identify and develop opportunities within the existing Lexington portfolio that capitalize on Lexington's long-standing relationships with corporate users and on the joint venture's industry-wide relationships."

Means Knaus Partners is a Houston-based, privately held real estate firm that manages, leases, acquires, renovates and develops institutional-quality commercial properties. For more than 35 years, in 45 cities, the professionals of Means Knaus Partners have developed, managed and leased more than 150 million square feet of commercial real estate.

Lexington Realty Trust is a real estate investment trust that owns, invests in, and manages office, industrial and retail properties net-leased to major corporations throughout the United States and provides investment advisory and asset management services to investors in the net lease area. Lexington shares are traded on the New York Stock Exchange under the symbol "LXP." Additional information about Lexington is available online at www.lxp.com or by contacting Lexington Realty Trust, One Penn Plaza, Suite 4015, New York, New York 10119-4015, Attention: Investor Relations.

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under Lexington's control which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those factors and risks detailed in Lexington's periodic filings with the Securities and Exchange Commission. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington's expectations will be realized.

    Source: Lexington MKP Management