Dechert Advises Six Financial Institutions on Financing of US$5.2 Billion Acquisition of LXP Industrial Trust

Dechert advised Citigroup, Morgan Stanley, Goldman Sachs, Santander, Scotiabank and SMBC in connection with the financing of the US$5.2 billion acquisition of LXP Industrial Trust by a joint venture between Brookfield and CPPIB.

LXP Industrial Trust was a publicly traded U.S. real estate investment trust (REIT) and owns a portfolio of 107 industrial properties totalling approximately 52 million square feet across the Sunbelt and Midwest. Following the transaction, LXP is now privately held and its properties will be integrated into Brookfield’s global logistics platform, which comprises more than 850 properties across 20 countries.

Dechert has advised lenders on numerous complex financing arrangements supporting take-private transactions involving publicly traded REITs, playing a key role in facilitating the acquisition of substantial real estate portfolios.

The Dechert team advising Citigroup and Morgan Stanley was led by Dechert Co-chair David Forti and global finance partners Sam Gilbert and Ani Ravi, with support from counsel Melissa Rybacki and associates David Sausto, Alec Schlinkert, Matthew Fishkind and Ronald Britt II.

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For more than 150 years, we have advised clients on critical issues – from high-stakes litigation to first-in-market transaction structures and complex regulatory matters. Our lawyers in commercial centers worldwide are immersed in the key sectors we serve – financial services, private capital, real estate, life sciences and technology.

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