Portfolio Overview - LXP Industrial Trust has gross assets of $4.8 billion and owns 112 properties [7] - The stabilized portfolio is 96.8% leased [12, 17] - 48% of the tenancy is investment grade [9] - The portfolio's weighted average lease term (WALT) is 4.9 years [17] Financial Performance - The company generated Adjusted Company FFO of $0.16 per share in the third quarter [12] - Same-store NOI growth was 4% year-to-date and 2% in the quarter [12] - The company repaid $140 million of outstanding 6.75% Senior Notes due 2028 [12] - Net Debt to Adjusted EBITDA was reduced to 5.2x [12, 13] Growth Opportunities - Approximately 64% of the portfolio is expiring through 2030, with current mark-to-market on rents estimated to be approximately 17% [15, 64] - The average annual rental escalations are 2.9% [15, 60] - The company has 1.8 million square feet of first and second-generation space available for lease [15, 60] Strategic Initiatives - The company sold two vacant development projects totaling 2.1 million square feet for $175 million, representing a 20% premium over the gross book value [12] - The company acquired one property for $30 million at a cash capitalization rate of 6.5% [12] - The company announced a reverse stock split of common shares at a ratio of 1-for-5 [12]