Brookfield to Acquire Industrial REIT Peakstone for $1.2B
By Mark Hallum February 2, 2026 12:41 pm
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Brookfield Asset Management has reached an agreement to acquire a major real estate investment trust (REIT) focused on industrial properties in the U.S.
California-based REIT Peakstone Realty Trust agreed to an approximately $1.2 billion deal, equivalent to $21 per share, to merge with Brookfield, according to a Monday announcement from Brookfield. Following the announcement, Brookfield saw its price per share increase from around $15 at Friday’s close to $20 when the markets opened Monday morning.
Brookfield said Peakstone’s “well-diversified” national portfolio — composed of 76 industrial properties, 60 of which are industrial outdoor storage (IOS) properties — will give its balance sheet an edge in the industrial market.
“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,” Brookfield CEO Lowell Baron said in a statement.
Whether Peakstone will continue to be publicly traded on the New York Stock Exchange (NYSE) separately from Brookfield was not made immediately clear by the buyers, who did not immediately respond to a request for comment.
Peakstone’s board approved the sale unanimously and expects the deal to be finalized by the end of the second quarter, according to the announcement.
“Following an offer from Brookfield, our board of trustees evaluated the proposed transaction with the assistance of external advisers and determined that it achieves the best value and other terms reasonably available for shareholders and is in the best interests of the company,” Michael Escalante, CEO of Peakstone, said in a statement. “This transaction recognizes the value of our industrial portfolio and the progress we have made expanding our IOS platform.”
In December, Peakstone completed the sale of all its office properties to focus solely on the industrial market.
The acquisition follows on the heels of robust transaction volume in 2025, during which 14 REIT acquisitions took place, resulting in delistings from the NYSE for a mixed bag of reasons, according to data from Hoya Capital.
Mark Hallum can be reached at mhallum@commercialobserver.com.
