Key Takeaways
- • Brookfield Asset Management and Canada Pension Plan Investment Board (CPP Investments) have closed their purchase of LXP Industrial Trust, according to The Globe and Mail.
- • The transaction valued LXP at about US$5.2 billion including net debt and preferred equity.
- • LXP shareholders received US$61.20 per share in cash under the agreement.
- • LXP's portfolio comprises 107 industrial properties in the United States, which will be integrated into Brookfield's global logistics platform of more than 850 properties across 20 countries.
Summary
Brookfield Asset Management (TSX: BAM) and the Canada Pension Plan Investment Board (CPP Investments) have closed their acquisition of LXP Industrial Trust, according to The Globe and Mail. The deal values LXP at about US$5.2 billion, including net debt and preferred equity. Under the terms of the agreement, LXP shareholders received US$61.20 per share in cash.
LXP's portfolio includes 107 industrial properties in the United States. Sophie van Oosterom, head of real estate at CPP Investments, said the transaction adds a portfolio of modern logistics properties to the fund's diversified portfolio of U.S. real estate investments.
The acquired assets will be integrated into Brookfield's global logistics platform, which includes more than 850 properties in 20 countries. CTV News also reported the closing of the LXP Industrial Trust transaction by Brookfield Asset Management and CPP Investments.
LXP's portfolio includes 107 industrial properties in the United States. Sophie van Oosterom, head of real estate at CPP Investments, said the transaction adds a portfolio of modern logistics properties to the fund's diversified portfolio of U.S. real estate investments.
The acquired assets will be integrated into Brookfield's global logistics platform, which includes more than 850 properties in 20 countries. CTV News also reported the closing of the LXP Industrial Trust transaction by Brookfield Asset Management and CPP Investments.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.