Brookfield Asset Management and Peakstone Realty Trust, an industrial REIT with a strategic focus on the industrial outdoor storage (IOS) sector, have announced that they have entered into a definitive agreement in which a Brookfield private real estate fund would acquire all of the outstanding shares of Peakstone for $21 per share in cash. The all-cash transaction represents an implied enterprise value of approximately $1.2 billion.
“We are pleased to enter into this agreement with Brookfield, which will deliver significant value to Peakstone shareholders,” said Michael Escalante, CEO of Peakstone. “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
