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Get filing alertsLXP Industrial Trust agrees to $5.2B all-cash merger with Brookfield/CPP at $61.20/share
Filed July 29, 2026 · Period ending July 29, 2026 · ~1 min read
Key Changes
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LXP agreed to be acquired by Brookfield and CPP Investments for $61.20/share in cash, a 12.3% premium to 30-day VWAP and 19.8% premium to 90-day VWAP, in a transaction valued at ~$5.2B including net debt and preferred equity, expected to close by end of Q4 2026 pending shareholder approval.
Exhibit 99.1 view on EDGAR → -
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LXP suspended its regular quarterly common share dividend effective immediately per the merger agreement terms, while preferred shareholders will continue receiving regular dividends.
Exhibit 99.1 view on EDGAR → -
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LXP reported Q2 2026 Adjusted Company FFO of $0.84/diluted share, up 5.0% from $0.80 in Q2 2025, reflecting improved operating performance.
Exhibit 99.2 view on EDGAR → -
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LXP pre-leased a 1.2M sq ft Phoenix development project with initial annual cash base rent of ~$9.8M, reducing leasing risk ahead of Q4 2026 completion.
Exhibit 99.2 view on EDGAR → -
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LXP acquired a 37-acre Phoenix infill covered land site for $103.2M at a 15.7% initial cash yield, leased through March 2031 with future redevelopment optionality.
Exhibit 99.2 view on EDGAR →
Summary
LXP Industrial Trust announced it has agreed to be acquired by Brookfield Asset Management and Canada Pension Plan Investment Board in an all-cash transaction valuing the company at approximately $5.2 billion including net debt and preferred equity.
Common shareholders will receive $61.20 per share, representing a 12.3% premium to the 30-day volume-weighted average price and a 19.8% premium to the 90-day VWAP as of July 17, 2026. The LXP Board unanimously approved the transaction, which is expected to close by the end of Q4 2026 subject to shareholder approval and customary closing conditions.
As part of the merger agreement, LXP has suspended its regular quarterly common share dividend effective immediately, though preferred shareholders will continue to receive their regular dividends. Alongside the merger announcement, LXP reported Q2 2026 results showing Adjusted Company FFO of $0.84 per diluted share, up 5.0% from $0.80 in the prior-year quarter. The company pre-leased a 1.2 million square foot Phoenix development project with initial annual cash base rent of approximately $9.8 million and acquired a 37-acre Phoenix covered land site for $103.2 million at a 15.7% initial cash yield. For common shareholders, the focus shifts to the merger vote and deal closing, with the $61.20 cash price now the relevant valuation benchmark rather than ongoing operating performance.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
LXP Industrial Trust furnished Q2 2026 supplemental information under Regulation FD.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
On July 29, 2026, the Trust made available supplemental information, which we refer to as the “Quarterly Supplemental Information, Second Quarter 2026,” a copy of which is furnished herewith as Exhibit 99.2.
LXP Industrial Trust furnished its quarterly supplemental information package for Q2 2026 under Regulation FD. This is a routine disclosure practice for REITs to provide investors with additional operating metrics and portfolio details beyond the standard earnings release. The filing explicitly notes this information is furnished, not filed, meaning it is not subject to Section 18 liability under the Exchange Act.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Pursuant to the terms of the Merger Agreement, LXP has agreed to suspend payment of its regular common share quarterly dividend, effective immediately, subject to certain exceptions set forth in the Merger Agreement. The Merger Agreement permits LXP to make regular quarterly dividends on the Series C Preferred shares.
LXP has suspended its regular quarterly common share dividend effective immediately as part of the merger agreement. The company previously paid a $0.70 per share quarterly dividend on July 15, 2026. Preferred shareholders will continue to receive their regular dividends.
Added in current filing · view on EDGAR →
Generated Adjusted Company Funds From Operations available to all equityholders - diluted (“Adjusted Company FFO”) of $49.5 million, or $0.84 per diluted common share, compared to $0.80 per diluted common share in the same period in 2025, an increase of 5.0%.
LXP reported Adjusted Company FFO of $49.5 million, or $0.84 per diluted share, for Q2 2026, up 5.0% from $0.80 per share in Q2 2025. This metric excludes certain non-recurring items and is a key performance measure for REITs.
Added in current filing · view on EDGAR →
Recorded Net Loss attributable to common shareholders of $(1.6) million, or $(0.03) per diluted common share.
LXP reported a net loss attributable to common shareholders of $1.6 million, or $(0.03) per diluted share, for Q2 2026, compared to net income of $27.5 million, or $0.47 per share, in Q2 2025. The year-over-year decline reflects lower gains on property sales and higher depreciation.
Event · Exhibit 99.2
Added in current filing · view on EDGAR →
Net Loss - $(0.03) per diluted common share
The company reported a net loss of $0.03 per diluted common share for Q2 2026. This GAAP measure contrasts with the positive Adjusted Company FFO, reflecting the impact of depreciation, amortization, and other non-cash charges that are excluded from FFO calculations.
Added in current filing · view on EDGAR →
Increased Same-Store NOI 0.5% compared to the same period in 2025
Same-Store Net Operating Income increased 0.5% year-over-year in Q2 2026, indicating modest organic growth in the existing portfolio. This measure excludes acquisitions, dispositions, and developments, providing insight into the performance of properties held throughout both periods.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 30, 2026 · How we verify