Peakstone Realty Trust Completes Acquisition of 51 Industrial Properties Across 14 States

Peakstone Realty Trust (NYSE: PKST) announced today the completion of a significant acquisition, detailed in an 8-K filing dated November 4, 2024. The company’s subsidiaries entered into a Purchase and Sale Agreement to acquire a portfolio of 51 industrial outdoor storage properties from certain subsidiaries of IOS JV, LLC. These properties span 440 usable acres across 14 states, marking a substantial addition to Peakstone’s real estate holdings.

The acquisition, valued at approximately $490.0 million, was executed by certain subsidiaries of Peakstone Realty Trust. The transaction was completed through a Purchase and Sale Agreement, with the consideration subject to proration and specific adjustments as outlined in the agreement.

The disclosed details offer insight into the scale and scope of the acquisition, showcasing the strategic expansion of Peakstone Realty Trust’s real estate portfolio. The Purchase and Sale Agreement, along with other pertinent information, have been incorporated into the Form 8-K filing for full disclosure to stakeholders and interested parties.

Furthermore, in conjunction with this acquisition, Peakstone Realty Trust issued a press release and investor presentation on November 4, 2024, providing additional information on the transaction. The press release and the investor presentation are included as Exhibits 99.1 and 99.2, respectively, in the Form 8-K filing.

The completion of this acquisition signifies a significant milestone for Peakstone Realty Trust, further establishing the company’s position in the real estate market. The detailed financial statements and pro forma information included in the filing offer a comprehensive view of the impact of this acquisition on the company’s operations and financial standing. Investors and stakeholders can refer to the Form 8-K filing for a more thorough understanding of the transaction and its implications for Peakstone Realty Trust.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Peakstone Realty Trust’s 8K filing here.

About Peakstone Realty Trust

Peakstone Realty Trust (NYSE: PKST) is an internally managed, real estate investment trust (REIT) that owns and operates a high-quality, newer-vintage portfolio of predominantly single-tenant industrial and office properties. These assets are generally leased to creditworthy tenants under long-term net lease agreements with contractual rent escalations.