Investing.com -- Peakstone Realty Trust (NYSE:PKST) stock surged 33% Monday after announcing it has entered into a definitive agreement to be acquired by a Brookfield Asset Management (NYSE:BAM) private real estate fund for $21.00 per share in cash.
The all-cash transaction values the industrial real estate investment trust at approximately $1.2 billion in enterprise value and represents a 34% premium to Peakstone’s closing price on January 30, 2026. The deal also offers a 46% premium to the company’s 30-day volume weighted average price and a 51% premium to its 90-day VWAP.
The acquisition comes shortly after Peakstone completed its strategic transformation into an industrial-only REIT in December 2025 by divesting all of its office properties. The company’s current portfolio consists of 76 industrial properties, including 60 industrial outdoor storage properties and 16 traditional industrial properties.
"We are pleased to enter into this agreement with Brookfield, which will deliver significant value to Peakstone shareholders," said Michael Escalante, Chief Executive Officer 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."
The transaction, unanimously approved by Peakstone’s Board, includes a 30-day "go-shop" period expiring on March 4, 2026, during which the company may solicit alternative acquisition proposals. Peakstone has agreed to suspend its regular quarterly dividend until the deal closes or the agreement terminates.
The acquisition is expected to close by the end of the second quarter of 2026, subject to shareholder approval and other customary closing conditions. Upon completion, Peakstone will become a privately-held company and its shares will no longer trade on the New York Stock Exchange.
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