Brookfield Asset Management and Canada Pension Plan Investment Board have agreed to buy LXP Industrial Trust in an all-cash deal valued at about $5.2 billion, adding a portfolio of modern warehouse and logistics facilities to their holdings.

Under the deal, which includes net debt and preferred equity, LXP Industrial shareholders will receive $61.20 a share in cash, representing a more than 12% premium to the stock's 30-day volume weighted average price, the companies said Monday.

The transaction is expected to close during the fourth quarter, at which time LXP Industrial would become a privately held company, with shares no longer trading on the New York Stock Exchange.

The agreement includes a 40-day "go-shop" period, during which time LXP Industrial may actively solicit and consider alternative acquisition proposals, the companies noted.