Peakstone Realty Trust completed the sale of two office properties and one industrial property for approximately $177 million.
The sales were completed at a blended cap rate of 7.6%, marking progress in the strategic shift to an industrial REIT.
Industrial ABR now represents over 50% of the total ABR for Peakstone Realty Trust.
Strategic Transition to Industrial REIT
Peakstone Realty Trust is strategically transitioning to an industrial REIT, focusing on growth in the industrial outdoor storage sector.
Significant Progress
The sale of office assets signifies significant progress in the shift to an industrial REIT, with industrial ABR exceeding 50%.
Portfolio Management
The company continues to actively manage its portfolio and improve leverage, targeting approximately 6.0x.
Value Creation
The deliberate portfolio repositioning is aimed at delivering growth and value for shareholders.
- The sale of office properties has reshaped the company's portfolio, with the Office segment now consisting of 20 properties.
- Industrial ABR exceeding 50% indicates a strategic focus on the industrial sector for future growth and value creation.
The deliberate sale of office assets and strategic shift to an industrial REIT demonstrate Peakstone Realty Trust's commitment to creating value for shareholders through targeted portfolio management and growth in the industrial sector.