Lexington Corporate Properties Trust, New York, has agreed to sell 2.5 million shares of common stock at a discount from the stock's recent closing price, for net proceeds of approximately $60.75 million.The net proceeds of $24.36 per share represents a 3.295% discount from the July 12 closing price of $25.19 on the New York Stock Exchange, the real estate investment trust said. The offering is being underwritten by Wachovia Securities, and shares will be offered only via a prospectus supplement. The REIT can be found online at http://www.lxp.com.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
8m ago -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
1h ago -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
3h ago -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
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While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
April 24