Brookfield to Acquire Peakstone Realty Trust in a $1.2 Billion All-Cash Transaction

Executive Summary

• Brookfield Asset Management entered into a definitive agreement to acquire all outstanding shares of Peakstone Realty Trust for $21.00 per share in cash, valuing the transaction at approximately $1.2 billion (enterprise value).
• The purchase price represents a 34% premium to Peakstone’s closing price on Jan 30 2026, 46% premium to the 30‑day VWAP and 51% premium to the 90‑day VWAP.
• Transaction is expected to close by the end of Q2 2026, subject to customary conditions including shareholder approval; a 30‑day “go‑shop” period runs until March 4 2026.

Key Details

• Transaction Structure: All‑cash acquisition; Brookfield private real estate fund will purchase 100% of Peakstone shares.
• Implied Enterprise Value: ~$1.2 billion.
• Purchase Price Premiums:
• 34% to Jan 30 2026 closing price
• 46% to 30‑day VWAP (ending Jan 30 2026)
• 51% to 90‑day VWAP (ending Jan 30 2026)
• Board Approval: Unanimously approved by Peakstone’s Board of Trustees.
• Closing Timeline: Expected by end of Q2 2026; “go‑shop” period expires 11:59 p.m. NY time on March 4 2026.
• Termination Rights: Brookfield may terminate for a superior proposal, subject to payment of a termination fee.
• Dividend Suspension: Peakstone will suspend its regular quarterly dividend effective immediately until the earlier of transaction closing or agreement termination.
• Share Trading Impact: Upon completion, Peakstone’s shares will cease trading on NYSE and the company will become privately held.
• Portfolio Overview: Post‑office disposition (Dec 2025), Peakstone holds 76 industrial properties – 60 IOS and 16 traditional industrial assets.
• Financial Results Disclosure: Fourth‑quarter and full‑year 2025 results to be released in late February 2026; no earnings call will be held due to pending transaction.
• Advisors:
• Peakstone – BofA Securities (financial), Latham & Watkins (legal)
• Brookfield – Citigroup Global Markets (financial), Gibson, Dunn & Crutcher (legal)
• Regulatory Filings: Proxy statement on Schedule 14A to be filed with the SEC; shareholders urged to review proxy materials.

Notable Quotes

“We are pleased to enter into this agreement with Brookfield, which will deliver significant value to Peakstone shareholders… This transaction recognizes the value of our industrial portfolio and the progress we have made expanding our IOS platform.” – Michael Escalante, CEO, Peakstone Realty Trust

“This acquisition is an exciting opportunity to expand Brookfield’s industrial real‑estate platform with Peakstone’s high‑quality and well‑diversified portfolio…” – Lowell Baron, CEO, Brookfield Real Estate Business