WEST PALM BEACH, Fla., Oct. 26, 2026 (GLOBE NEWSWIRE) -- LXP Industrial Trust (NYSE: LXP) (“LXP” or “the Company”) today announced that its shareholders approved the acquisition of LXP by Brookfield Asset Management (NYSE: BAM, TSX: BAM) and Canada Pension Plan Investment Board at the Special Meeting of Shareholders held earlier today.

According to the results of the Special Meeting of Shareholders, more than 99% of votes cast at the meeting – which represented approximately 82% of the outstanding LXP common shares as of the record date – were voted in favor of approving the merger. The final voting results of the Special Meeting of Shareholders will be filed as part of LXP’s Form 10-Q for the quarter ended September 30, 2026 with the U.S. Securities and Exchange Commission (the “SEC”) after certification by LXP’s inspector of election.

Under the terms of the merger agreement announced on July 20, 2026, common shareholders of the Company will receive $61.20 in cash for each LXP common share owned. The transaction is expected to be completed on November 2, 2026, subject to the satisfaction or waiver of the conditions to the closing of the transaction in the merger agreement. Upon closing of the transaction, LXP’s shares will no longer be listed on the New York Stock Exchange or any other public market.

About LXP Industrial Trust
LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on Class A warehouse and distribution investments in 12 target markets across the Sunbelt and Midwest. LXP seeks to expand its warehouse and distribution portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, development projects and other transactions. For more information, please visit LXP’s website at www.lxp.com.

Forward-Looking Statements
Certain statements contained herein, other than historical fact, regarding the proposed transaction, including any statements regarding the expected timetable for completing the proposed transaction and benefits of the proposed transaction, and any other statements regarding the Company’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical, may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provided by the same. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties. No forward-looking statement is intended to, nor shall it, serve as a guarantee of future performance. You can identify the forward-looking statements by the use of words such as “may,” “will,” “would,” “could,” “should,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” “seek,” “endeavor,” and other similar terms and phrases. Forward-looking statements are subject to various risks and uncertainties and factors that could cause actual results to differ materially from the Company’s expectations, and you should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company’s control and could materially affect the Company’s results of operations, financial condition, cash flows, performance or future achievements or events. Some of the factors that may affect outcomes and results include, but are not limited to: (i) risks associated with the Company’s ability to consummate the proposed transaction and the timing of the closing of the proposed transaction, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all or that the closing of the proposed transaction would not occur, (ii) the outcome of any legal proceedings that may be instituted against the parties and others related to the merger agreement and the costs related to such proceedings, and (iii) the risk that shareholder litigation or other proceedings in connection with the proposed transaction may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability, and (iv) the risk that the Company’s stock price may decline significantly if the proposed transaction is not consummated. Additional factors include those described under the section entitled Item 1A. “Risk Factors” of the Company’s 2025 Annual Report on Form 10-K, as filed with the SEC on February 25, 2026, and the Company’s most recent Form 10-Q, as filed with the SEC on July 29, 2026, copies of which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.

Contact:
Investor or Media Inquiries for LXP Industrial Trust:
Heather Gentry, Executive Vice President of Investor Relations
LXP Industrial Trust
Phone: (212) 692-7200 E-mail: hgentry@lxp.com