Inland Institutional Capital Partners announces closing of final seed properties in joint venture with Lexington Realty Trust

Oak Brook, Ill. – Inland Institutional Capital Partners Corporation announced today the closing of the final group of seed properties into the $1.1 billion joint venture it negotiated on behalf of Inland American Real Estate Trust, Inc. (“Inland American”) with Lexington Realty Trust (NYSE:LXP) to acquire and manage net-leased properties.

The venture, Net Lease Strategic Assets Fund L.P., has been seeded with 43 net-leased properties contributed by Lexington Realty Trust from its existing portfolio, comprising 6.2 million square feet valued at approximately $743 million. The Lexington contribution includes the assumption of approximately $331 million of non-recourse first mortgage financing secured by certain of the assets. In addition, the venture anticipates acquiring up to $400 million of net-leased assets over a two-year term. Under the terms of the agreement, Inland American will contribute up to $342 million, including the initial investment of approximately $214 million.

Inland Institutional Capital Partners, a part of The Inland Real Estate Group of Companies, Inc., specializes in raising private equity and identifying large scale investment opportunities. Since 2005, Inland Institutional Capital Partners or its predecessor entities have completed capital raising and financial advisory transactions with a value in excess of $7.5 billion.

About Inland American Real Estate Trust, Inc.
Inland American Real Estate Trust, Inc. is a real estate investment trust focused on acquiring and owning a diversified portfolio, including retail, office, multi-family and industrial/distribution and hospitality properties within the United States and Canada, either directly, or indirectly through joint ventures, or by acquiring REITs or other "real estate operating companies.” As of March 31, 2008, the company’s portfolio consisted of 784 wholly owned and joint venture interests in properties, located in 33 states for a total of approximately 35.2 million gross leasable square feet. The company also owned 98 lodging properties totaling 14,470 rooms as of the end of the first quarter of 2008. Inland American is one of four REITs that are, or have been, sponsored by affiliates of The Inland Real Estate Group of Companies, Inc. For further information regarding Inland American, please refer to the company website at

About Lexington Realty Trust
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 on-line at or by contacting Lexington Realty Trust, Investor Relations, One Penn Plaza, Suite 4015, New York, New York 10119-4015.