LXP Industrial Trust has completed an all-cash acquisition by Brookfield Asset Management and the Canada Pension Plan Investment Board (CPP Investments). The transaction, valued at approximately $5.2 billion, including net debt and preferred equity, closed on November 2, 2026.
Under the terms of the merger agreement, LXP shareholders will receive $61.20 per share in cash. As a result of the deal, LXP is no longer a publicly traded company, and its shares have been delisted from the New York Stock Exchange.
The acquired portfolio consists of 107 industrial properties spanning approximately 52 million square feet. These assets are located in attractive markets in the Sunbelt and Midwest and are characterized by strong occupancy and long-duration leases. Brookfield intends to integrate these properties into its global logistics platform, which currently spans over 255 million square feet across more than 850 properties in 20 countries.
Advisors to LXP included BofA Securities, Inc. as lead financial advisor, J.P. Morgan Securities LLC as co-financial advisor, and Hogan Lovells Cadwalader US LLP as legal counsel. Brookfield and CPP Investments were advised by Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC as lead financial advisors, among others.
