Washington, D.C. – Global law firm Hogan Lovells Cadwalader has advised LXP Industrial Trust (NYSE: LXP) ("LXP" or the "Company") as it enters into a definitive merger agreement under which Brookfield Asset Management (NYSE: BAM, TSX: BAM) ("Brookfield"), together with Canada Pension Plan Investment Board ("CPP Investments") will acquire LXP in an all-cash transaction valued at approximately US$5.2 billion, including net debt and preferred equity.
LXP owns one of the largest portfolios of warehouse and logistics facilities in the U.S., comprising approximately 53 million square feet across 108 properties in industrial markets in the Sunbelt and Midwest. The portfolio is characterized by modern assets, strong occupancy and long-duration leases that generate durable cash flows and is well positioned to benefit from the demand for high-quality, well-located logistics properties.
More information on the transaction can be found here.
The Hogan Lovells Cadwalader deal team was led by partners Stacey McEvoy (M&A, Washington, D.C.), Michael McTiernan (Securities & Public Company Advisory, Washington, D.C.), Cristina Arumi (Tax, Pensions & Benefits, Washington, D.C.), and Lauren Clarke (Tax, Pensions & Benefits, Denver), counsel Brendan Oldham (Securities & Public Company Advisory, Washington, D.C.), with senior associates Junhan Zhang and Matthew Quandt (both M&A, Washington, D.C.) and Caroline Koo (Tax, Pensions & Benefits, Washington, D.C.), and associates Brittney Ajaj (M&A, Denver) and Tommy Wiltshire (Securities & Public Company Advisory, Washington, D.C.).