Inland Institutional Capital Partners negotiates definitive joint venture agreement with Lexington Realty Trust

Oak Brook, Ill. – Inland Institutional Capital Partners Corporation announced today that the company has negotiated on behalf of Inland American Real Estate Trust, Inc. (“Inland American”) the signing of a definitive agreement for a joint venture with Lexington Realty Trust (NYSE:LXP) to acquire and manage net-leased properties.

The venture, Net Lease Strategic Assets Fund L.P., will initially be seeded with up to 53 net-leased properties contributed by Lexington Realty Trust from its existing portfolio, comprising 8.4 million square feet valued at $940 million. The Lexington contribution is subject to certain conditions, including the assumption of non-recourse first mortgage financing secured by certain of the assets. In addition, the venture anticipates acquiring up to $500 million of net-leased assets over a two-year term. Under the terms of the agreement, Inland American will contribute up to $385 million, including an initial investment of $257 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 its inception in 2006, Inland Institutional Capital Partners has completed capital raising and financial advisory transactions with a value in excess of $5.5 billion.

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 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 July 15, 2007, the company’s portfolio consisted of wholly owned and joint venture interests in 326 properties, excluding the lodging facilities, located in 30 states for a total of approximately 27 million gross leasable square feet. Through Inland American’s wholly-owned subsidiary, Inland American Winston Hotels, Inc., the company also owns 50 hotels in 18 states. 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

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.