LXP Industrial Trust agreed on 20 July to be taken private by affiliates of Brookfield Asset Management and CPP Investments for $61.20 a share in cash, in a deal valued at about $5.2bn including net debt and preferred equity.
Why Brookfield Asset Management and CPP Investments is buying LXP Industrial Trust
The buyers gain one of the largest US portfolios of modern warehouse and distribution buildings, with long leases and high occupancy, positioned for continued demand for logistics space.
Deal terms and financing
The price is a 12.3% premium to LXP's 30-day volume-weighted average and 19.8% to its 90-day average to 17 July. The agreement has no financing condition and included a 40-day go-shop. Brookfield brings operating expertise and CPP Investments is the capital partner.
Regulatory approvals and timing
LXP's board of trustees approved the deal unanimously. The go-shop expired on 28 August with no competing proposal after outreach to 51 parties; completion is expected in the fourth quarter of 2026, subject to shareholder approval.
Market context
LXP owns about 53m sq ft across 108 properties, characterised by modern assets, strong occupancy and long-duration leases.
