LXP Industrial Trust (LXP) receives $16.00 share buyout offer.

LXP Industrial Trust (LXP) announced today that it has received a buyout offer of $16.00/share in cash from Land & Buildings Investment Management, LLC.  The offer is based on "publicly available information" and further conditioned "upon satisfactory completion of due diligence."  The offer is also subject to obtaining debt and equity financing as part of a definitive merger agreement.

Established in 1973, LXP Industrial is an equity REIT focusing on industrial properties operated under long-term leases. The current portfolio includes 138 properties in 28 states with 57.7 million square feet of GLA. As of September 30, 2021, the portfolio was 98.9% leased with an average remaining lease term of 6.6 years.