Brookfield to Acquire Peakstone Realty Trust's Industrial Real Estate Portfolio in $1.2B All-Cash Deal

Brookfield Asset Management and Peakstone Realty Trust announced they have entered into a definitive agreement in which a Brookfield private real estate fund would acquire all outstanding shares of Peakstone for $21.00 per share in cash. The all-cash real estate acquisition represents an implied enterprise value of approximately $1.2 billion.

The proposed purchase price represents a premium of 34% to Peakstone's share price on January 30, 2026, the last full trading day prior to the announcement, as well as a 46% premium to the Company's 30-day volume weighted average price and a 51% premium to the Company's 90-day volume weighted average price for the period ended January 30, 2026.

Strategic Industrial Real Estate Acquisition

Michael Escalante, Chief Executive Officer of Peakstone, said, "We are pleased to enter into this agreement with Brookfield, which will deliver significant value to Peakstone shareholders. Following an offer from Brookfield, our Board of Trustees evaluated the proposed transaction with the assistance of external advisors and determined that it achieves the best value and other terms reasonably available for shareholders and is in the best interests of the Company. This transaction recognizes the value of our industrial portfolio and the progress we have made expanding our IOS platform."

Lowell Baron, CEO of Brookfield's Real Estate business, stated, "This acquisition is an exciting opportunity to expand Brookfield's industrial real estate platform with Peakstone's high-quality and well-diversified portfolio, which will benefit from strong long-term fundamentals for the warehouse and IOS sectors."

Portfolio Composition

In December 2025, Peakstone completed the disposition of all of its office properties, thereby concluding its strategic transformation into an industrial-only REIT. The Company's portfolio comprises 76 industrial properties, consisting of 60 industrial outdoor storage properties and 16 traditional industrial properties.

Transaction Details

The transaction has been unanimously approved by the Peakstone Board and is expected to close by the end of the second quarter of 2026, subject to customary closing conditions, including approval by the Company's shareholders.

The definitive agreement includes a 30-day "go-shop" period expiring at 11:59 p.m. New York City time on March 4, 2026, during which time Peakstone and its advisors may solicit alternative acquisition proposals.

BofA Securities, Inc. is serving as financial advisor to Peakstone, while Citigroup Global Markets Inc. is serving as financial advisor to Brookfield in connection with the transaction.