Peakstone Realty Trust (PKST) no longer trades: Brookfield Asset Management completed its all-cash take-private acquisition on May 6, 2026, paying $21.00 per share (a 34% premium to the pre-announcement price, roughly $1.2 billion enterprise value) and delisting the stock from the NYSE. This page explains the transaction for former holders.
What Happened
Peakstone, born as non-traded Griffin Realty Trust and listed in 2023, executed one of the cleaner small-cap transformations: it sold its final office assets in December 2025, completing the pivot into industrial outdoor storage (76 industrial properties, 60 of them IOS at the end). Brookfield bought the finished product, folding the portfolio into its global logistics platform of more than 160 million square feet. Shareholders received $21.00 cash per share; OP units and restricted shares were cashed out on the same terms.
The Arc Worth Noting
Peakstone’s path, non-traded REIT, discounted listing, transformation by disposition, take-private at a premium, is the full lifecycle several former non-traded REITs are attempting. The lesson for the category: the exit price ($21.00) rewarded the pivot, though investors who entered through the original non-traded offering years earlier should compare that figure to their adjusted cost basis before calling it a win.
Frequently Asked Questions
What did Peakstone shareholders receive?
$21.00 in cash per share when Brookfield’s acquisition closed May 6, 2026, after which PKST was delisted from the NYSE.
Why did Brookfield buy Peakstone?
The industrial outdoor storage portfolio: 60 IOS assets among 76 industrial properties, absorbed into Brookfield’s global logistics platform.
Based on SEC merger disclosures (May 2026). Independent research, not investment advice.