LXP’s $5.2 Billion Sale to Brookfield and CPP Investments

Cleary Gottlieb is representing BofA Securities Inc. as financial advisor to LXP Industrial Trust (LXP) in its announced sale to Brookfield Asset Management (Brookfield) together with Canada Pension Plan Investment Board (CPPIB) in an all-cash transaction valued at approximately $5.2 billion.

Under the terms of the merger agreement, holders of LXP common shares will receive $61.20 in cash for each share they own.

The transaction was announced on July 20, 2026, and is expected to close in the fourth quarter of 2026, subject to LXP shareholder approval and other customary closing conditions. The definitive agreement includes a 40-day “go-shop” period, during which time LXP, with the assistance of its advisors, may actively solicit and consider alternative acquisition proposals and engage in discussions with third parties.

LXP is a publicly traded real estate investment trust (REIT) focused on Class A warehouse and distribution investments in 12 target markets across the Sunbelt and Midwest.

Brookfield is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management across infrastructure, energy, private equity, real estate, and credit.

CPPIB is a professional investment management organization that manages the Canada Pension Plan Fund in the best interests of the more than 22 million contributors and beneficiaries.

Headquartered in Toronto, CPP Investments is governed and managed independently of the Canada Pension Plan at arm’s length from governments. At March 31, 2026, the fund totaled $793.3 billion.

For more information, please see the press release.

The Cleary team includes partner Charles Allen and associate Abhishek Dalal.