New York and Toronto, November 2, 2026 ( GLOBE NEWSWIRE ) – Brookfield Asset Management ( NYSE : BAM , TSX : BAM , referred to as “ Brookfield ”) and the Canadian Pension Plan Investment Board ( CPP Investments ) announced today that they have completed a full-cash acquisition of LXP Industrial Trust (referred to as “ LXP ”).

The valuation of the trading pair LXP is approximately $5.2 billion, which includes net debt and preferred equity interests. According to the terms of the agreement, shareholders of LXP will receive $61.20 in cash per share. With the completion of the transaction, LXP shares are no longer traded on the New York Stock Exchange, and LXP has also become a privately held company.

The portfolio of LXP includes 107 industrial properties with a total area of approximately 52 million square feet, located in the sunbelt regions of the United States and attractive markets in the Midwest. The company states that these properties have high occupancy rates and long-term lease agreements, which generate stable cash flows and are expected to benefit from the market demand for modern, high-quality logistics properties. These assets will be integrated into Brookfield's global logistics platform, which covers 20 countries and more than 850 properties, with a total area of over 255 million square feet.

Brookfield Real Estate CEO Lowell Baron stated: "This acquisition reflects our confidence in the long-term fundamentals of the US industrial real estate sector. We are acquiring a portfolio of modern logistics assets at an attractive cost base. These markets benefit from strong demand for large-scale distribution facilities, while supply is limited. Combined with our existing solid cash flow, inherent rent growth, and our operational expertise, these factors present an extremely attractive opportunity for us to create value for investors."

CPP Investments, President, General Manager and Head of Real Estate; Sophie; van; Oosterom stated: "The acquisition of LXP has added a new group of high-quality, large-scale modern logistics property assets to our diversified US real estate portfolio. With its high rental rates and positioning in key distribution markets, we believe that as the logistics market evolves, LXP has great potential to further realize its value, thereby bringing attractive long-term returns to the CPP fund."

Consultant

In this transaction, BofA Securities and Inc serve as the Chief Financial Advisors for LXP. J.P and Morgan Securities LLC act as Co-Financial Advisors, while Hogan Lovells Cadwalader US LLP serves as the Legal Advisor.

Citigroup Global Markets Inc, Morgan Stanley, and Co serve as the chief financial advisors for Brookfield and CPP Investments. Goldman Sachs (Goldman Sachs and Co), LLC, Santander, and Scotiabank act as financial advisors, while Sumitomo Mitsui Bank (Sumitomo Mitsui Banking Corporation) provides transaction structure advisory services. Gibson, Dunn, Crutcher LLP, and Thompson Hine LLP serve as legal advisors; DLA Piper LLP acts as a legal advisor for certain aspects of this transaction for CPP Investments. Dechert LLP also acts as a legal advisor for certain aspects of this transaction for Citigroup Global Markets Inc and Morgan Stanley as well as Co and LLC.

About Brookfield Asset Management

Brookfield Asset Management Ltd. (NYSE, TSX : BAM) is a leading global alternative asset management company headquartered in New York, managing assets worth over one trillion dollars across sectors such as infrastructure, energy, private equity, real estate, and credit. The company focuses on physical assets and essential service businesses that form the pillars of the global economy, making long-term investments on behalf of its clients. Brookfield offers a range of alternative investment products to investors worldwide, including public and private pension plans, donor funds and foundations, sovereign wealth funds, financial institutions, insurance companies, and private wealth investors. The company states that, relying on its tradition as both asset owners and operators, it is committed to creating strong returns for clients through value investing across different economic cycles.

For more information, please visit: www.bam.brookfield.com.

About CPP Investments

The Canada Pension Plan Investment Board (™) is a professional investment management organization that operates with the best interests of over 22 million contributors and beneficiaries in mind, responsible for managing Canadian pension plan funds. To build a diversified portfolio, the organization invests globally in public stocks, private equity, real estate, infrastructure, and fixed income. Headquartered in Toronto, it also has offices in Hong Kong, London, Mumbai, New York, São Paulo, and Sydney. The institution operates independently from Canadian pension plans and maintains an independent relationship with the government. As of June 30, 2026, the total size of the fund was 863.6 billion Canadian dollars. For more information, please visit: www.cppinvestments.com, or follow @CPPInvestments on LinkedIn, Instagram, and the X platform.

Brookfield Contact Information

Media: Laura Montross

Investor Relations: Jason Fooks

CPP Investments Contact Information

Media: Frank Switzer