Brookfield and CPP Investments close US$5.2 billion LXP purchase

The Canadian Press reported on November 2, 2026 that Brookfield Asset Management and Canada Pension Plan Investment Board (CPP Investments) closed their purchase of LXP Industrial Trust, an American company that owns 107 industrial properties, about 52 million square feet, mostly in the Sunbelt and the Midwest. The deal valued LXP at about US$5.2 billion, including net debt (debts less cash) and preferred equity (shares paid before ordinary shares). Propmodo reported that shareholders’ US$61.20 a share in cash was a 12% premium to the 30-day average price, weighted by trading volume, through July 17.

The two bought LXP together, in cash. Its properties will join Brookfield’s global logistics platform, which has more than 850 properties in 20 countries. Lowell Baron, chief executive of Brookfield Real Estate, said the purchase reflects the firm’s conviction in the long-term fundamentals of the US industrial sector. Sophie van Oosterom, CPP Investments’ head of real estate, said it adds modern logistics properties to its US portfolio, and that LXP is well positioned to capture further value as logistics markets evolve.

CPP Investments invests the Canada Pension Plan’s fund to maximize returns without undue risk of loss. It had net assets of $793.3 billion at March 31, 2026, up from $714.4 billion a year earlier. LXP is now privately held, and its shares no longer trade on the New York Stock Exchange.

Sources: CTV News (The Canadian Press) · Propmodo · BNN Bloomberg · CPP Investments · Brookfield and CPP Investments