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September 6, 2005

By Michelle Napoli

Lexington Corporate Properties Trust will look to areas within the net-lease marketplace that it has not historically focused on for its latest institutional joint venture fund. Its fourth such fund, with an unidentified partner, will focus on both lower credit tenants as well as more specialized types of real estate, says co-chairman and chief investment officer Richard Rouse. He says the fund will start with $150 million of equity, and using an anticipated leverage of at least 70% will mean at least $500 million of buying power.

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