other material
confidence high
sentiment neutral
materiality 0.30
Peakstone Realty Trust amends pro forma financials; depreciation corrected to $87.4M (9mo 2024) and $137.2M (FY2023)
Peakstone Realty Trust
- Filed 8-K/A to correct pro forma depreciation: nine months ended Sep 30, 2024 updated from $80.8M to $87.4M; year ended Dec 31, 2023 from $128.0M to $137.2M.
- Changes reflect conforming adjustments related to the $490M acquisition of 51 industrial outdoor storage properties from Alterra Property Group.
- Acquisition funded with $280M revolver draw and $213.3M cash; later obtained $175M term loan and $110.3M in mortgage loans.
- Pro forma balance sheet as of Sep 30, 2024 shows total assets of $2.88B, debt of $1.56B, and equity of $1.13B.
- Pro forma net loss attributable to common shareholders: $37.5M for 9mo 2024 ($1.04 per share) and $577.3M for FY2023 ($16.04 per share).