All-cash $1.2 billion deal delivers a nationwide industrial portfolio in one move.
New York, United States, 10 February 2026 – Brookfield Asset Management’s real estate investment trust is set to acquire Peakstone Realty Trust in an all-cash transaction valued at around $1.2 billion, strengthening its position in one of the fastest-growing segments of the industrial property market.
Under the definitive agreement, Brookfield will purchase all of Peakstone’s outstanding shares for $21 each, representing a 34% premium over the company’s last closing price in January. The deal has already been approved by Peakstone’s board and is expected to close by the end of the current quarter.
As part of the agreement, Peakstone will have a 30-day go-shop period, allowing it to seek and evaluate alternative offers. However, unless a competing proposal emerges, Brookfield is set to take full control of Peakstone’s portfolio.
The acquisition gives Brookfield ownership of 76 properties across the United States. Sixty of these are industrial outdoor storage sites, while the remaining assets are traditional warehouse facilities. The transaction allows Brookfield to gain immediate scale in the IOS segment, which has become increasingly attractive to occupiers and investors alike.
Peakstone recently reshaped its portfolio by selling off all office assets, leaving it fully focused on industrial real estate. At the same time, Brookfield has been reducing exposure to underperforming office properties, making the transaction a strategic fit for both sides.
Industrial outdoor storage, once considered a niche asset class, has seen rapid growth in recent years. These properties are valued for their flexibility, lower operating costs, and ability to support a wide range of uses, from construction materials to logistics support. According to research from Yardi, rents in the IOS segment have surged by 123% since 2020.
Despite strong demand, IOS assets remain difficult to acquire due to zoning restrictions and limited supply, particularly at scale. By acquiring Peakstone, Brookfield gains a sizable and diversified IOS portfolio in a single transaction, something rarely available in today’s market.
The deal also builds on Peakstone’s recent expansion in the sector. In November 2024, the company acquired a 51-property IOS portfolio, including operating assets and redevelopment sites, for $490 million.
With this acquisition, Brookfield signals strong confidence in the long-term growth of industrial outdoor storage, positioning itself to benefit from continued demand for efficient, flexible industrial real estate across the United States.
