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Brookfield and CPP Investments to buy LXP Industrial Trust for $5.2B
The all-cash deal values LXP at about $61.20 per share and is expected to close in the fourth quarter of 2026.
Brookfield Asset Management and Canada Pension Plan Investment Board, CPP Investments, have agreed to acquire LXP Industrial Trust in an all-cash transaction valued at approximately $5.2 billion, according to Commercial Observer.
LXP is a REIT focused on Class A warehouse and distribution investments, with a portfolio totaling about 53 million square feet across 108 properties in 12 markets across the Sun Belt and Midwest, the announcement said.
Under the terms of the agreement, LXP shareholders will receive $61.20 per share, representing a premium of about 12 percent over the company’s volume-weighted average price for the 30 days ended July 17, the outlet reported.
The merger is expected to close in the fourth quarter of 2026, and Bank of America Securities and J.P. Morgan Securities are listed as financial advisers. LXP Chief Executive Thomas W. Eglin Jr. characterized the deal as part of LXP’s effort to transition into a pure-play industrial REIT, Commercial Observer said.