Brookfield, CPP Buy LXP Industrial Trust for $5.2 Billion in Cash
Updated
Updated · O'Dwyer's PR News · Jul 20
Brookfield, CPP Buy LXP Industrial Trust for $5.2 Billion in Cash
3 articles · Updated · O'Dwyer's PR News · Jul 20
Summary
$61.20 a share will be paid to LXP shareholders under the all-cash deal, valuing the U.S. warehouse owner at $5.2 billion and setting up a Q4 close.
LXP brings 108 Sunbelt and Midwest properties totaling about 53 million square feet, making the acquisition a sizable bet on U.S. logistics real estate.
CEO Thomas Eglin said the sale caps LXP's push to become a pure-play industrial REIT, while Brookfield said the portfolio fits its focus on durable cash flows and active asset management.
The offer represents a 12.3% premium to LXP's 30-day volume-weighted average price, underscoring continued demand for large-scale warehouse platforms.