Brookfield Asset Management and Peakstone Realty Trust entered into a definitive agreement for a Brookfield private real estate fund to acquire all outstanding shares of Peakstone for $21.00 per share in cash.

Brookfield Asset Management (NYSE: BAM, TSX: BAM) ("Brookfield") and Peakstone Realty Trust (NYSE: PKST) ("Peakstone" or the "Company"), an industrial real estate investment trust with a strategic focus on the industrial outdoor storage ("IOS") sector, today 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 $21.00 per share in cash. The all-cash transaction represents an implied enterprise value of approximately $1.2 billion.

Michael Escalante, Chief Executive Officer of Peakstone, said, "We are pleased to enter into this agreement with Brookfield, which will deliver significant value to Peakstone shareholders. 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 expanding our IOS platform."

"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," said Lowell Baron, CEO of Brookfield's Real Estate business.

The proposed purchase price represents a premium of 34% to Peakstone's share price on January 30, 2026, the last full trading day prior to this announcement, as well as a 46% premium to the Company's 30-day volume weighted average price (VWAP) and a 51% premium to the Company's 90-day VWAP, for the period ended January 30, 2026.

In December 2025, Peakstone completed the disposition of all of its office properties, thereby concluding its strategic transformation into an industrial-only REIT. The Company's portfolio comprises 76 industrial properties, consisting of 60 industrial outdoor storage (IOS) properties and 16 traditional industrial properties.

Transaction Details

The transaction has been unanimously approved by the Peakstone Board and is expected to close by the end of the second quarter of 2026, subject to customary closing conditions, including approval by the Company's shareholders.

The definitive agreement includes a 30-day "go-shop" period expiring at 11:59 p.m. New York City time on March 4, 2026, during which time the Company, with the assistance of its advisors, may actively solicit and consider alternative acquisition proposals and engage in discussions with third parties. Subject to the terms and conditions of the definitive agreement, including notice and negotiation rights in favor of Brookfield, the Company may terminate to enter into a transaction that constitutes a superior proposal, subject to the payment of a termination fee.

There can be no assurance that the solicitation process will result in a superior proposal or that any other transaction will be approved or completed. Peakstone does not intend to disclose developments with respect to this solicitation process unless and until its Board determines such disclosure is appropriate or otherwise required.

As a condition to the transaction, Peakstone has agreed to suspend payment of its regular quarterly dividend, effective immediately, until the earlier of the closing or the termination of the definitive agreement. The outside date pursuant to the definitive agreement is August 2, 2026.

Subject to and upon completion of the transaction, Peakstone's shares will no longer trade on the New York Stock Exchange, and Peakstone will become a privately-held company.

Peakstone Fourth Quarter and Full Year 2025 Results

Peakstone intends to release its fourth quarter and full year 2025 financial results in late February 2026. In light of the pending transaction, Peakstone will not hold a conference call or webcast to discuss these results.

Advisors

BofA Securities, Inc. is serving as exclusive financial advisor and Latham & Watkins LLP is serving as legal advisor to Peakstone.

Citigroup Global Markets Inc. is serving as Brookfield's financial advisor and Gibson, Dunn & Crutcher LLP is serving as legal advisor.

http://www.datamonitor.com
Republication or redistribution, including by framing or similar means,
is expressly prohibited without prior written consent. Datamonitor shall 
not be liable for errors or delays in the content, or for any actions 
taken in reliance thereon
COMTEX_473219512/2227/2026-02-09T16:45:28