Brookfield and CPP Investments Acquire LXP Industrial Trust for $5.2 Billion

Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board entered a merger agreement on July 20, 2026, to acquire LXP Industrial Trust (LXP) in a deal valued at $5.2 billion.

Deal Structure:

LXP shareholders will receive $61.2 per share in cash, representing a premium of 4.6% from the stock’s last close.

Company Profile:

LXP is a publicly traded real estate investment trust (REIT) that owns, acquires, and develops Class A warehouse and distribution properties in the United States. The company expands its industrial real estate portfolio through acquisitions, build-to-suit developments, and sale-leaseback transactions.

Brookfield Asset Management is a global alternative asset manager with over $1 trillion in assets under management (AUM). The company invests across infrastructure, renewable energy, real estate, private equity, and credit, managing capital on behalf of institutional and private investors through public and private investment strategies.

CPP Investments is a global institutional investor that manages the assets of the Canada Pension Plan, with $793.3 billion in AUM. The organization invests across public and private equities, real estate, infrastructure, and fixed income markets worldwide.

Deal Details and Timeline:

LXP owns one of the largest portfolios of modern warehouse and logistics facilities in the United States, spanning approximately 53 million square feet across 108 properties located in high-growth industrial markets throughout the Sunbelt and Midwest.

The merger is expected to close in the fourth quarter of 2026.

The deal includes a 40-day “go-shop” period expiring on August 28, 2026.

LXP was advised by BofA Securities and J.P. Morgan Securities as its financial advisors, and by Hogan Lovells and Cadwalader as its legal advisors. Brookfield and CPP Investments were advised by Citigroup Global Markets and Morgan Stanley on financial matters, while Gibson, Dunn & Crutcher, Thompson Hine, and DLA Piper served as their legal advisors.

Brookfield and CPP Investments are paying 18.05 times the adjusted funds from operations for LXP.

Deal Metrics:

For further insight into this M&A transaction, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of LXP Industrial Trust (LXP) by Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board

This comprehensive Deal Metrics page includes:

• A spread history chart, tracking the merger from announcement to completion or failure.
• Progress updates, including key events such as the expiration of the HSR period, regulatory approvals, shareholder votes, and more.
• News and SEC filings.
• A detailed history of deal updates.
• And more extensive analysis and data.

Disclaimer: It is advised to conduct your own thorough research before buying or selling any securities mentioned in this article. The accuracy or completeness of the data or content provided in this article is not guaranteed.

Editor’s Note: Baranjot Kaur contributed to this article