Latham & Watkins Advises Peakstone Realty Trust in Acquisition of 51-Property Industrial Outdoor Storage Portfolio

Peakstone Realty Trust (NYSE: PKST), a real estate investment trust focused on owning and operating industrial assets, has announced that the company has acquired a portfolio of 51 industrial outdoor storage (IOS) properties from a joint venture between Alterra IOS, and institutional investors advised by J.P. Morgan Asset Management in an off-market transaction valued at US$490 million. The acquisition was funded by a combination of proceeds from the company’s credit facility and cash on hand. The 51-property infill portfolio comprises 45 operating assets and six redevelopment sites. These assets span a total of 440 usable acres across 14 states and are strategically located near major supply chains and population centers.

Latham & Watkins LLP represented Peakstone Realty Trust in the transaction with a capital markets team led by Los Angeles partner Julian Kleindorfer and Century City partner Lewis Kneib, with associates Devon MacLaughlin, Eric Finkelberg, and Dylan Shamoon.