Brookfield agreed on 2 February to acquire Peakstone Realty Trust through one of its private real estate funds for $21.00 a share in cash, valuing the NYSE-listed industrial REIT at about $1.2bn including debt.
Why Brookfield Asset Management is buying Peakstone Realty Trust
Brookfield said the deal would expand its industrial real estate platform with a diversified portfolio benefiting from strong long-term fundamentals in warehouses and industrial outdoor storage. Peakstone's board said the offer achieved the best value reasonably available for shareholders.
Deal terms and financing
The price represents premiums of 34% to the 30 January close, 46% to the 30-day VWAP and 51% to the 90-day VWAP. The agreement included a 30-day go-shop to 4 March and required Peakstone to suspend its quarterly dividend until closing.
Regulatory approvals and timing
Shareholders approved the merger at a special meeting on 29 April 2026, and Brookfield completed the acquisition on 6 May 2026, IREI reported, after which Peakstone's shares stopped trading on the NYSE.
Market context
Peakstone completed the sale of all its office properties in December 2025 to become an industrial-only REIT with 76 properties.
