Brookfield Asset Management and Peakstone Realty Trust, an industrial REIT with a strategic focus on the industrial outdoor storage (IOS) sector, have entered into a definitive agreement under 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.
The transaction provides Brookfield with access to Peakstone’s 76-property portfolio, comprising 60 industrial outdoor storage properties and 16 traditional industrial assets.
After closing, Peakstone will delist from the NYSE and become a privately held Brookfield portfolio company.
“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,” says Lowell B
