Brookfield And CPP Investments Complete $5.2 Billion Acquisition Of LXP Industrial Trust

Brookfield Asset Management and Canada Pension Plan Investment Board (CPP Investments) have completed their approximately $5.2 billion acquisition of LXP Industrial Trust in an all-cash transaction.

The transaction value includes net debt and preferred equity, with LXP shareholders receiving $61.20 per share in cash.

Following completion, LXP’s shares have ceased trading on the New York Stock Exchange, and the company is now privately held.

The acquisition adds a portfolio of 107 industrial properties totaling approximately 52 million square feet across markets in the Sunbelt and Midwest.

The properties are primarily modern logistics and distribution facilities benefiting from established tenants, strong occupancy, and long-duration leases.

Brookfield and CPP Investments believe the portfolio offers opportunities to generate long-term returns through contractual rental income, future leasing activity, and demand for industrial distribution infrastructure.

The assets will be integrated into Brookfield’s global logistics platform, which comprises more than 255 million square feet across over 850 properties in 20 countries.

The transaction substantially expands Brookfield’s logistics real estate presence in the United States while adding exposure to markets with established distribution networks.

Brookfield manages more than $1 trillion in assets across infrastructure, energy, private equity, real estate, and credit.

For CPP Investments, the acquisition expands its portfolio of U.S. industrial real estate assets and supports its long-term investment strategy.

BofA Securities served as lead financial advisor to LXP, with J.P. Morgan acting as co-financial advisor.

Citigroup and Morgan Stanley served as lead financial advisors to Brookfield and CPP Investments, with additional advisory support from Goldman Sachs, Santander, Scotiabank, and other institutions.

The completed acquisition represents a major investment in U.S. logistics infrastructure and reflects continued institutional interest in high-quality industrial real estate.

KEY QUOTES:

“This acquisition reflects our conviction in the long-term fundamentals of the U.S. industrial sector. We are acquiring a portfolio of modern logistics assets at an attractive basis in markets benefiting from strong demand for large-scale distribution facilities with limited supply. Combined with durable in-place cash flows, embedded rental growth and our operating expertise, these dynamics create a compelling opportunity to drive value for our investors.”

Lowell Baron, CEO Of Brookfield Real Estate

“The acquisition of LXP adds a high-quality, scaled portfolio of modern logistics properties to our diversified portfolio of U.S. real estate investments. With strong occupancy and exposure to key distribution markets, we believe LXP is well positioned to capture further value as logistics markets evolve, supporting attractive long-term returns for the CPP Fund.”

Sophie van Oosterom, Managing Director And Head Of Real Estate At CPP Investments