Peakstone Realty Trust | 8-K: FY2025 Q4 Revenue: USD 25.99 M
I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2025 Q4, the actual value is USD 25.99 M.
EPS: As of FY2025 Q4, the actual value is USD 0.09.
EBIT: As of FY2025 Q4, the actual value is USD 10.58 M.
Fourth Quarter 2025 Financial and Operational Highlights
Peakstone Realty Trust reported revenue from continuing operations of approximately $26.0 million for the fourth quarter ended December 31, 2025, a decrease from approximately $29.8 million for the same quarter last year . Net income attributable to common shareholders was approximately $3.5 million, a decrease from $12.7 million in the prior year’s fourth quarter . Core Funds from Operations (Core FFO) per basic and diluted share/unit was $0.28, down from $0.63 in Q4 2024 . Adjusted Funds from Operations (AFFO) per basic and diluted share/unit was $0.28, compared to $0.65 in the same period last year . Same Store Cash Net Operating Income (NOI) increased by 3.7% to approximately $11.5 million, up from $11.1 million in Q4 2024 . The Company completed 11.4 acres of leasing at weighted average releasing spreads of 9.7% (GAAP) and 3.7% (cash) . Six Industrial Outdoor Storage (IOS) properties were acquired for approximately $38.5 million . All remaining Office segment properties, consisting of 16 assets, were sold for approximately $443.9 million, eliminating the Office segment as of December 31, 2025 . The outstanding debt balance was reduced by $564.8 million, resulting in total outstanding debt of $485.9 million and a Net Debt to Adjusted EBITDAre ratio of 5.4x as of December 31, 2025 .
Full Year 2025 Financial and Operational Highlights
For the full year ended December 31, 2025, revenue from continuing operations was approximately $106.0 million, a decrease from approximately $116.4 million in the prior year . The net loss attributable to common shareholders was approximately -$307.7 million, compared to a net loss of approximately -$10.4 million for the prior year . Core FFO per basic and diluted share/unit was $1.98, compared to $2.53 in the prior year . AFFO per basic and diluted share/unit was $1.99, down from $2.69 in the prior year . Same Store Cash NOI increased by 2.4% to approximately $45.5 million, up from $44.4 million in the prior year . The Company completed 84.8 acres of leasing at weighted average releasing spreads of 55.5% (GAAP) and 52.8% (cash) . Nine IOS properties were acquired for approximately $96.2 million . Thirty-three office properties were sold for approximately $883.7 million, completing the Company’s exit from office, and three traditional industrial properties were sold for approximately $71.6 million . The outstanding debt balance was reduced by $874.4 million, resulting in total outstanding debt of $485.9 million as of December 31, 2025 .
Balance Sheet Metrics (as of December 31, 2025)
- Total Debt: $485.9 million
- Cash and Cash Equivalents: $138.7 million
- Net Debt: $347.3 million
- Available Revolver Capacity: $240.7 million
- Total Liquidity: $379.4 million
- Weighted Average Debt Maturity: 3.2 years
- Fixed Rate Debt, including Swaps: 100%
- Total Weighted Average Effective Interest Rate (including Swaps): 5.33%
- Net Debt to Adjusted EBITDAre: 5.4x
Portfolio Overview (as of December 31, 2025)
- Total Properties: 76 Industrial segment properties, comprising 60 IOS properties and 16 traditional industrial properties .
- Operating Properties: 72 properties with a Weighted Average Lease Term (WALT) of 4.5 years and Annualized Base Rent (ABR) of $78,146 thousand .
- IOS: 56 properties, 97.9% occupancy (based on usable acres), 4.2 years WALT, and $31,885 thousand ABR (40.8% of total ABR) .
- Traditional Industrial: 16 properties, 100.0% occupancy (based on rentable square feet), 4.7 years WALT, and $46,261 thousand ABR (59.2% of total ABR) .
- Redevelopment Properties: 4 properties .
Outlook / Guidance
Peakstone Realty Trust has entered into a Merger Agreement for Brookfield Asset Management affiliates to acquire all outstanding shares for $21.00 per share in cash, representing an implied enterprise value of approximately $1.2 billion . The transaction is expected to close by the end of the second quarter of 2026, subject to customary closing conditions including shareholder approval . Pursuant to the merger agreement, the Company has agreed to immediately suspend payment of its regular quarterly dividend until the earlier of the closing or termination of the Merger Agreement .
