Weekly Real Estate News
Shareholders of LXP Industrial Trust have approved the industrial real estate investment trust’s planned acquisition by Brookfield Asset Management and Canada Pension Plan Investment Board, advancing a transaction valued at approximately $5.2 billion toward an expected November 2 closing.
More than 99% of votes cast at the October 26 special meeting favored the merger, representing approximately 82% of outstanding LXP common shares as of the record date, the company announced Monday afternoon.
Under the agreement announced in July and previously reported by Weekly Real Estate News, LXP common shareholders are to receive $61.20 in cash per share. The approximately $5.2 billion valuation includes net debt and preferred equity.
What Happens Next
LXP expects to complete the transaction November 2, provided the remaining closing conditions are satisfied or waived. The acquisition has not yet closed. Upon completion, LXP common shares will cease trading on the New York Stock Exchange and the company will become privately held.
The company said final certified voting results will be filed with the Securities and Exchange Commission as part of its Form 10-Q for the quarter ended September 30, 2026.
A Major Industrial Portfolio
LXP owns approximately 53 million square feet of warehouse and logistics properties across 108 locations, concentrated in Sun Belt and Midwestern markets. The acquisition would give Brookfield and CPP Investments a substantial U.S. industrial real estate portfolio at a time when institutional investors continue to assess demand for modern logistics facilities.
Shareholder approval removes a significant remaining hurdle, although the anticipated closing date remains subject to the merger agreement’s conditions.
Sources: LXP October 26 shareholder vote announcement; July 20 transaction announcement.
