Peakstone Realty Trust Completes First Day as a Listed REIT at $11.65 Per Share

Peakstone Realty Trust (NYSE: PKST), formerly a publicly registered non-traded real estate investment trust known as Griffin Realty Trust, debuted on the New York Stock Exchange yesterday. At the close of trading shares finished at $11.65, up 45.62% after starting the trading day at $8.00.

Prior to its debut on the NYSE, Peakstone’s most recently reported net asset value per share was $66.87, following the nine-for-one reverse stock split executed by the company on March 8, 2023.

As The DI Wire previously reported, the company announced its plan to pursue a listing of the company’s common shares on the NYSE in February 2023 and changed its name in March 2023.

Peakstone Realty Trust is an internally managed, publicly registered real estate investment trust that owns and operates predominately single-tenant industrial and office properties. As of March 10, 2023, Peakstone’s portfolio consisted of real estate assets totaling 19 million square feet across 24 states.

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