Brookfield Asset Management and CPP Investments have agreed to acquire US industrial real estate investment trust LXP Industrial Trust in an all-cash transaction valued at approximately $5.2bn, according to a report by the Wall Street Journal.
The transaction, which includes net debt and preferred equity, will see LXP shareholders receive $61.20 per share in cash, representing a premium of more than 12% to the company’s 30-day volume-weighted average share price.
The acquisition is expected to close in the fourth quarter of 2026, subject to customary closing conditions and shareholder approval. Upon completion, LXP will be taken private and its shares will be delisted from the New York Stock Exchange.
As part of the agreement, LXP has secured a 40-day “go-shop” period, allowing the company to actively seek and evaluate alternative acquisition proposals before the transaction becomes final.
The deal adds a substantial industrial real estate portfolio to Brookfield and CPP Investments’ holdings. LXP owns approximately 53 million square feet of warehouse and logistics space across 108 properties located in key US distribution markets, including the Sunbelt and Midwest regions.
The acquisition reflects continued private equity and institutional investor appetite for industrial real estate, a sector that has benefited from long-term demand driven by e-commerce growth, supply chain modernisation and logistics infrastructure investment.
LXP chief executive Thomas Eglin Jr described the transaction as the culmination of the company’s strategic transformation into a pure-play industrial REIT, following several years of portfolio repositioning, development activity and asset optimisation.
