Brookfield to Buy Peakstone Realty Trust in $1.2 Billion Deal
By Robb M. Stewart
Brookfield Asset Management is buying industrial real estate investment trust Peakstone Realty Trust in an all-cash deal valued at about $1.2 billion.
The companies said Monday they entered a definitive agreement under which a Brookfield real estate fund would buy all of Peakstone's outstanding shares for $21 each, marking a 34% premium to the last closing price.
The purchase would expand Brookfield's industrial real estate platform with an investment trust that owns and operates industrial outdoor storage, or IOS, and traditional industrial properties.
Peakstone Chief Executive Michael Escalante said the company's board of trustees, along with external advisors, determined the offer achieves the best value and other terms reasonably available for shareholders. "This transaction recognizes the value of our industrial portfolio and the progress we have made expanding our IOS platform," Escalante said.
As a condition to the transaction, Peakstone agreed to suspend payment of its regular quarterly dividend, effective immediately. The agreement with the New York-based asset manager includes a 30-day go-shop period during which Peakstone can activity solicit and consider alternative proposals.
The deal with Brookfield has been unanimously approved by Peakstone's board and is expected to close by the end of the second quarter.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
February 02, 2026 09:54 ET (14:54 GMT)
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