M&A · Financials · Real Estate Investment Trusts
Brookfield Asset Management Ltd. to acquire Peakstone Realty Trust
Announced Feb 2, 2026 · Closed May 6, 2026
Deal value$1.20BEV $1.20B
Premium34.0%To unaffected price
EV / Adj. EBITDA16.2x8.7x EV / Revenue
ConsiderationAll cash$21.00 per share
Transaction
- Acquirer
- Brookfield Asset Management Ltd. (BAM)
- Target
- Peakstone Realty Trust (PKST)
- Buyer type
- Private equity
- Offer price per share
- $21.00
- Enterprise value
- $1.20B
- Status
- Closed May 6, 2026
Deal protections
- Break fee (target pays)
- $34.0M · 2.8%
- Reverse fee (buyer pays)
- $122M · 10.2%
- Go-shop
- Go-shop
- Financing
- Committed · BofA Securities
Advisors
- To the acquirer
- Citigroup, Goldman Sachs, Morgan Stanley
- To the target
- BofA Securities
- BofA Securities fee
- $16.0M
Sector context · Financials
- Comparable deals
- 69 in the prior 24 months
- Premium
- 34.0% vs. 40.0% sector median
- EV / Adj. EBITDA
- 16.2x vs. 13.7x sector median
- Break fee
- 2.8% vs. 3.7% sector median
Timeline
- AnnouncedFeb 2, 2026
- Proxy filedMar 5, 2026
- Definitive proxyMar 16, 2026
- Shareholder voteApr 29, 2026
- ClosedMay 6, 2026
Valuation · fairness opinions
Discounted cash flow$11.37$23.12
Analyst price targets$14.35$17.04
Liquidation$16.94$21.73
Offer $21.00
Implied value per Peakstone Realty Trust share by analysis, from BofA Securities · DCF discount rate 9%–10.6%.