LXP Industrial Trust agrees to $5.2 billion deal by Brookfield, CPP Investments

The REIT's shares will no longer trade on the New York Stock Exchange after the takeover. It plans to report its second-quarter results as scheduled on July 29.

LXP in April reported a 2.6% rise in first-quarter adjusted funds from operations (FFO) to 80 cents per diluted share, or $47.3 million. It had a market capitalization of about $3.5 billion before the deal was announced.

Brookfield Asset Management is a global alternative asset manager, while CPP Investments manages the assets of a Canadian pension fund.

BofA Securities is serving as lead financial adviser to LXP and J.P. Morgan as co-financial adviser.

July 20 (Reuters) - LXP Industrial Trust LXP.N will be taken private by Brookfield Asset Management and Canada Pension Plan Investment Board in a $5.2 billion all-cash deal, 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.

It follows Brookfield's agreement earlier this year to buy Peakstone Realty Trust in a roughly all-cash transaction.