Brookfield Asset Management and Canada Pension Plan Investment Board (CPP Investments) have announced the completion of their acquisition of LXP Industrial Trust in an all-cash transaction.
The transaction values LXP at approximately $5.2 billion, including net debt and preferred equity. Under the terms of the agreement, LXP shareholders will receive $61.20 per share in cash. As the transaction has now been completed, LXP’s shares no longer trade on the New York Stock Exchange, and LXP is a privately held company.
LXP’s portfolio comprises 107 industrial properties spanning approximately 52 million square feet in attractive markets in the Sun Belt and Midwest. The properties benefit from strong occupancy and long-duration leases that generate durable cash flows and are well positioned to benefit from demand for modern, high-quality logistics properties. These assets will be integ
