Brookfield and CPP Investments Close $5.2B LXP Industrial Trust Buyout, Take 52M SF Logistics Portfolio Private

• Brookfield Asset Management and Canada Pension Plan Investment Board completed their $5.2 billion all-cash acquisition of LXP Industrial Trust on November 2, 2026.
• LXP shareholders received $61.20 per share, and the company’s NYSE-listed shares have stopped trading.
• The deal adds 107 U.S. industrial properties totaling approximately 52 million square feet across the Sunbelt and Midwest to Brookfield’s logistics business.
• Brookfield’s global logistics platform now spans more than 255 million square feet, 850-plus properties, and 20 countries.

What Brookfield and CPP Investments Acquired

The transaction brings 107 industrial properties and approximately 52 million square feet into Brookfield’s U.S. logistics business. The portfolio is concentrated across the Sunbelt and Midwest, regions that have attracted distribution and warehouse investment due to their role in national supply chains. Brookfield said it intends to integrate the properties into its global logistics platform, which already includes more than 850 properties across 20 countries. The addition deepens its scale in a sector where portfolio size and operating reach can be significant advantages. For landlords and investors, the acquisition is a notable example of institutional capital targeting established industrial portfolios rather than individual assets.

What the $5.2B Buyout Means for LXP Shareholders

LXP shareholders received $61.20 per share in cash under the completed agreement. With the closing, LXP’s shares ceased trading on the New York Stock Exchange and the former public REIT became privately held. The offer represented a 12.3% premium to LXP’s 30-day volume-weighted average share price and a 19.8% premium to its 90-day average, based on the merger announcement filed with the SEC. LXP’s board unanimously approved the transaction, which was not subject to a financing condition. Shareholders approved the merger on October 26, with more than 99% of votes cast supporting it. Those votes represented approximately 82% of the company’s outstanding common shares.

What the Deal Signals About Industrial Real Estate

Brookfield Real Estate CEO Lowell Baron said the acquisition reflected the firm’s confidence in the long-term fundamentals of U.S. industrial property. He cited strong demand for large distribution facilities and limited new supply in key markets, describing the portfolio as acquired at an “attractive basis.” CPP Investments’ head of real estate, Sophie van Oosterom, pointed to LXP’s high occupancy and exposure to major distribution markets as factors supporting the investment. The pension fund said the properties were positioned to capture value as logistics markets evolve. The transaction comes as large institutional buyers continue to focus on logistics assets with scale, modern facilities, and access to key distribution networks. For owners, the deal also highlights the potential value of assembling portfolios that can appeal to global capital.

What Happens Next for the Portfolio

The properties will be folded into Brookfield’s global logistics business. LXP’s former public shareholders have been cashed out, and the company’s standalone public-market status has ended. BofA Securities served as LXP’s lead financial adviser. Citigroup and Morgan Stanley were lead financial advisers to Brookfield and CPP Investments. The closing adds another sizable portfolio to Brookfield’s logistics footprint and gives the buyers a deeper presence in U.S. warehouse markets. For industrial real estate investors, the transaction reinforces the importance of scale, location, and institutional demand in shaping portfolio values.