SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

Current Report Pursuant

to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported) February 1, 2007

 

LEXINGTON REALTY TRUST

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

Maryland

1-12386

13-371318

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer Identification Number)

 

THE LEXINGTON MASTER LIMITED PARTNERSHIP

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

Delaware

0-50268

11-3636084

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer Identification Number)

 

One Penn Plaza, Suite 4015, New York, New York

10119-4015

(Address of Principal Executive Offices)

(Zip Code)

 

(212) 692-7200

(Registrant's Telephone Number, Including Area Code)

 

                                            n/a                                             

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions

 

___         Written communications pursuant to Rule 425 under the Securities Act (17 CFT|R 230.425)

 

___         Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

___

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

___

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 8.01 Other Events.

 

In June 2005, The Lexington Master Limited Partnership (the “Partnership”), through one of its subsidiaries, entered into an agreement with Honeywell International, Inc. (“Honeywell”), the tenant of four office buildings owned indirectly by the Partnership in Morris Township, New Jersey to restructure the lease on the properties. Under the restructuring, Honeywell waived its right to exercise its economic discontinuance option and the Partnership granted Honeywell an option to purchase the properties in 2007 for $41,900,000. Honeywell exercised their option and on February 1, 2007 the properties were sold and the net proceeds were deposited with a qualified intermediary for use in tax free exchanges pursuant to Section 1031 of the Internal Revenue Code of 1986, as amended.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Lexington Realty Trust

 

Date: March 2, 2007

By:

/s/ Patrick Carroll

 

Patrick Carroll

 

Executive Vice President

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

The Lexington Master Limited Partnership

 

By: Lex GP-1 Trust, its general partner

 

Date: March 2, 2007

By:

/s/ Patrick Carroll

 

Patrick Carroll

 

Executive Vice President