Here are the 10-K annual reports from Peakstone Realty Trust (PKST) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow PKST and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PKST filings page.
Peakstone Realty Trust files an amended annual report focused on governance, executive pay and ownership, highlighting a completed shift to an industrial-only REIT and a pending cash merger. In 2025 the company sold 33 office properties for approximately $883.7 million and three industrial assets for $71.6 million, then acquired nine industrial outdoor storage sites for $96.2 million.
Leasing activity covered 84.8 usable IOS acres with weighted average re-leasing spreads of 55.5% on a GAAP basis. Peakstone reduced outstanding debt by about $874.4 million, lowering Net Debt/Adjusted EBITDAre from 7.1x to 5.4x as of December 31 2025. The company also details its February 2026 Merger Agreement, under which shareholders are expected to receive $21 per share in cash, a premium of 34% to the prior trading day price and up to a 51% premium versus longer-term VWAP benchmarks, subject to shareholder approval.
Peakstone Realty Trust is an industrial-focused REIT concentrating on growth in industrial outdoor storage (IOS) assets. As of December 31, 2025, it owned 76 industrial properties in one segment, including 60 IOS and 16 traditional industrial assets, with 72 operating properties and four under redevelopment.
During 2025, Peakstone completed its strategic shift to an industrial-only platform by disposing of all office properties, which are presented as discontinued operations. As of February 13, 2026, it had 37,180,295 common shares outstanding, and non-affiliate shareholders held common shares valued at approximately $471.3 million based on the June 30, 2025 NYSE closing price.
On February 2, 2026, Peakstone agreed to be acquired by affiliates of Brookfield under a merger agreement. At the effective time of the REIT merger, each outstanding common share will be converted into the right to receive $21.00 in cash per share, while each operating partnership common unit will receive cash equal to the REIT share amount multiplied by $21.00. The deal is unanimously approved by the board and backed by committed equity and debt financing, but remains subject to shareholder approval, customary conditions, an outside date of August 2, 2026, and potential termination fees of $16.0 million or $34.0 million.