UPDATE 1-LXP Industrial Trust agrees to $5.2 billion deal by Brookfield, CPP Investments
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Adds share move and details throughout
July 20 (Reuters) - LXP Industrial Trust LXP.N has agreed to be acquired by Brookfield Asset Management and Canada Pension Plan Investment Board for about $5.2 billion in cash, the industrial real estate investment trust said on Monday.
Shares of LXP were up 4% in premarket trading.
The acquisition highlights demand for warehouse and logistics properties, supported by the growth of e-commerce and companies modernizing their supply chains.
The deal is expected to close in the fourth quarter of 2026, subject to shareholder approval.