Brookfield Asset Management to Acquire Peakstone Realty Trust in a $1.2 Billion All-Cash Deal

Brookfield Asset Management Ltd. (BAM) entered a merger agreement on February 2, 2026, to acquire Peakstone Realty Trust (PKST) in a deal valued at $1.2 billion.

Deal Structure:

Brookfield Private Real Estate Fund would acquire all of the outstanding shares of Peakstone for $21 per share in cash, representing a premium of 34.44% from the stock’s last close.

Company Profile:

Peakstone Realty Trust is an industrial real estate investment trust that owns and operates industrial outdoor storage (IOS) and traditional industrial properties, with a strategic focus on the IOS sector.

Brookfield is an alternative asset manager headquartered in New York and Toronto, investing in real estate, infrastructure, renewable power, private equity, and credit, managing over $1 trillion in assets for institutional and retail clients across the world.

Deal Details and Timeline:

In December 2025, Peakstone completed the sale of all its office properties, thus turning into an industrial-only REIT. The company’s portfolio now includes 76 industrial properties, consisting of 60 industrial outdoor storage (IOS) assets and 16 traditional industrial properties.

The deal is expected to close by the end of the second quarter of 2026.

The deal includes a 30-day “go-shop” period expiring on March 4, 2026.

Peakstone said it will suspend payment of its regular quarterly dividend, effective immediately.

BofA Securities provided financial advice and Latham & Watkins provided legal advice to Peakstone, while Citigroup Global Markets provided financial advice and Gibson, Dunn & Crutcher provided legal advice to Brookfield.

Brookfield is acquiring Peakstone at 8.85 times its adjusted funds from operations.

Deal Metrics:

For additional details regarding the merger, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of Peakstone Realty Trust (PKST) by Brookfield Asset Management Ltd. (BAM)

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Event tracking as the merger progresses through the expiration of the HSR period, regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And much more.

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Editor’s Note: Baranjot Kaur contributed to this article