Mr. Hampton founded Oak Street Capital in 2003. Oak Street is offering STOR $32.25 per share in cash, or an 18% premium over the previous day's close. If all those variables end up less severe than the current bearish outlook suggests, selling STOR at 14 times (less as adjusted) 2022 AFFO won't look like a stellar deal. Oak street is private equity real estate firm based in Chicago that focuses on structuring sale-leasebacks. We also use third-party cookies that help us analyze and understand how you use this website. It's not complicated - performance is strong and consistent. What does this mean for CRE professionals? Kirkland & Ellis LLP acted as legal counsel to Blue Owl. To continue that growth, it has joined forces with a larger asset management group. Oak Street Real Estate Capital, LLC's proposed acquisition of certain properties from Granite Real Estate Investment Trust and Granite REIT Fasken Reading Time 1 minute read Our typical financing zone ranges from from $5M to $500M. How has Blue Owl garnered so much capital? The firm was founded in 2009 and headquartered in Chicago, Illinois. DFIN was Jason Clucas on LinkedIn: GIC and Oak Street Complete $15 Billion Acquisition of STORE Capital . As per the report, Oak . With more than 30 years in real estate he has successfully closed more than $2 billion in transactions in real estate brokerage and financing. Oak Street manages both commingled funds and separate accounts on. Oak Street has been very active in the public REIT M&A space. Hisexperience includes providing strategic solutions for debt restructurings,anddispositions, asset valuations, liquidation strategies, and portfolio assessments. Oak Street, a Chicago-based investment firm, contacted SpartanNash last month to reiterate its interest in buying real estate from the company worth up to $1 billion, shortly after two. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. This cookie is set by GDPR Cookie Consent plugin. %PDF-1.7
Is this happening to you frequently? Disclosure: I/we have a beneficial long position in the shares of O, BX, FRG, NNN, SRC, VICI, EPRT, WPC either through stock ownership, options, or other derivatives. Well, it might, if things stabilize and investment AFFO spreads revert. Oak Street signed MetLife to 12-year triple net leases on the buildings . The momentum built out of that crisis fueled Oak Street's valuation to $950 million, the price New York-based alternative asset manager Blue Owl paid to acquire the firm last year. While the headline price is $32.25, the actual consideration appears less. Investor ContactAnn DaiHead of Investor Relationsowlir@blueowl.com, Media ContactProsek PartnersDavid Wells/Nick TheccanatPro-blueowl@prosek.com. Alternative asset manager Blue Owl Capital Inc. has agreed to acquire Oak Street Real Estate Capital LLC, of Chicago, and its investment advisory business for $950 million. 2 0 obj
Oak Street Real Estate Capital, LLC * 3 Principals See who the company's key decision makers are 9 Contacts Reach the right people with access to detailed contact information. That last one is relevant as STOR has 30 days to shop the deal to another buyer. With a key focus on client satisfaction and transactional transparency, Oak Street prides itself on a vast network of repeat clients. Oak Street has built the industrys preeminent net lease platform with meaningful capital, scale and the expertise necessary to enter into large, complex sale-leaseback transactions with major, creditworthy corporations. Additionally, Mr. Milek has created risk rating systems,including the real time asset modeling & valuation models andhas extensive experience in developingloan policies and procedures. This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector. <>/XObject<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 720 540] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>>
The firm was founded in 2009 and headquartered in Chicago, Illinois. The firm focuses on two primary strategies: structuring sale-leasebacks, which includes triple net leases, as well as providing seed and strategic capital. Townhouse | Five Palm | 5 Star Facilities, Custom Built | N Frond | Skyline View | Must View, Exclusive | Upgraded | Fully Furnished | VOT. Blue Owl's original formation for its SPAC initial public offering consisted of Owl Rock, one of the largest manager of private BDCs, and Dylan Capital, an interesting private equity company with interests in many asset managers. The transaction was previously announced in October of 2021. If you experience any issues with this process, please contact us for further assistance. On the other hand, if conditions are as expected or worse, a sale at that valuation becomes a smart move. This just in. In addition, hehas extensive experience developing equity and mezzanine facilities across multiple product lines. It's that real estate division - Oak Street Real Estate Capital - that's officially bidding on STOR. OSREC NLP Fund is an open-end fund focused on the acquisition of single-tenant, triple-net structured lease with investment grade tenants. Crombie REIT ( CRR-UN-T) will sell a majority non-managing interest in 15 additional grocery store-anchored retail properties across Canada to Oak Street Real Estate Capital of Chicago for $193 million. This cookie is set by GDPR Cookie Consent plugin. Oak Street offers a unique platform combining direct and indirect real estate strategies across two lines of business, its Net Lease platform and its Seeding and Strategic Capital platform. The cookie is used to store the user consent for the cookies in the category "Performance". Oak Street is the industry's preeminent net lease platform with meaningful capital, scale and expertise that will further expand Blue Owl's range of investment solutions. Oak Street Real Estate Capital is a diversified real estate investment firm. Oak Street specializes in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. URBANA The University of Illinois' venture-capital arm is building a network of alumni investors to help grow campus-borne businesses from the ground floor. Los Angeles. These cookies track visitors across websites and collect information to provide customized ads. Email: bh@oakstcap.com You also have the option to opt-out of these cookies. Kirkland & Ellis LLP acted as legal counsel to Blue Owl. O9#8lq>~vh`\V$Lm~aEqePVJs&@:jieLdz*be+0tr{z6o@J:TMLUUk3)]ZIGv^0 oa8_^L'H-?h,:T fiJ RXBj
m|H Barsha Heights. This cookie is set by Windows Azure cloud, and is used for load balancing to make sure the visitor page requests are routed to the same server in any browsing session. Miami reclaimed the top destination for the first time since August. STOR's weighted average lease term of 13.2 years also is excellent and only bested by EPRT's 13.8. Blue Owl has approximately 250 employees across its Direct Lending and GP Capital Solutions divisions and has six offices globally. Previously, Marc was the Vice President Acquistions at American Realty Capital and also held positions at Merrill, TM Associates Management. 2017-2023 Oak Street Capital, LLC. <>
This website uses cookies to improve your experience while you navigate through the website. Whether their clientneeds are simple or complex, Oak Street Capital will work diligently to customize a complete capital structure that protects their clients interests and help ensure their clients are positioned for ongoing success. Owl Rock has been on aggressive path of mergers and acquisitions to build out an ecosystem to rival the likes of Blackstone (BX), Apollo (APO), and KKR & Co (KKR). Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. 1 0 obj
If you were Blue Owl or another bidder, wouldn't you want a lower price in this market too? endobj
Thomas is also the author of The Intelligent REIT Investor Guide (Wiley) and is writing a new book, REITs For Dummies.. Retailers faced a wide range of challenges in 2022. On one hand, STOR's stock decline of ~33% in the past two quarters means $32.25 per share is likely to irritate many investors (especially since there's no dividend in Q4). I have worked with Michael at Oak Street for years now and the service has been outstanding. The retailer sold 2.1 . Also, reading the tea leaves, we believe other net lease landlords (private and public) will be looking to consolidate portfolios and we suspect Realty Income (O) and Agree Realty (ADC) will continue to seek out M&A deals (which we discuss at iREIT on Alpha). My team and I look forward to partnering with the Blue Owl team to bring Oak Streets differentiated product offerings to a new base of investors and to collaborate to bring additional investment opportunities to investors in Oak Streets funds down the line.. The deal is going through at about a 10% premium to net asset value vs. a 10% discount on Sept. 14. The transaction was previously announced in October of 2021. Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. BlackRock: The ESG Issue Is . Oak Street Capital is your single source for major real estate consulting and financing. <>
Your article was successfully shared with the contacts you provided. AddThis sets this cookie to ensure that the updated count is seen when one shares a page and returns to it, before the share count cache is updated. Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business. Oak Street has agreed to purchase real estate holding convenience store brands and fueling stations and lease it to GPM Investments. Private equity firm Oak Street Real Estate Capital LLC has reportedly made a bid to acquire around $2 billion worth of property from Kohl's, Reuters reported on Friday. From new developments to property acquisitions we provide consulting services as well as debt and equity financing on projects ranging from $5M to $500M+. But they eventually overcorrect. ", Marc Zahr, Co-Founder and CEO of Oak Street, said: "Through its direct lending and GP stakes solutions, Blue Owl has built a one-stop shop for alternative asset managers in solving capital needs. endstream
*May exclude premium content The cookie is used to store the user consent for the cookies in the category "Analytics". The net lease funds provide corporate tenants with the ability to optimize their balance sheets, delivering immediate liquidity, tax benefits, and operational flexibility. 2017-2022 Oak Street Capital, LLC. This cookie is set by GDPR Cookie Consent plugin. Blue Owl Capital has over 300 employees across its Direct Lending and GP Capital Solutions divisions and has nine offices globally. STOR's historical financials encompass a period of very low interest rates - up until now. The transaction is expected to close in the fourth quarter of 2021. The firm IPO'd in 2014, and that's a date we should keep in mind. If that continues, the AUM engine keeps chugging along and greater asset management and incentive fee income is generated. To do that, we need to start with what differentiates STOR. Oak Street Capital is a Real Estate Investment and Financing company focused on private equity investment, mezzanine financing, land acquisition and improvement loans, construction loans, bridge loans, debt financing, lending consultation and real estate brokerage. Oak Street offers a unique platform combining direct and indirect real estate strategies across two lines of business, its Net Lease platform and its Seeding and Strategic Capital platform. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". With your permission, we also use cookies and similar technologies to provide enhanced functionality, to improve performance, and to analyze site usage. And it said in a statement that it would use the proceeds from. from 8 AM - 9 PM ET. . Why? The net proceeds from the issuance of the Notes will be used to repay outstanding borrowings under the Revolving Credit Facility and for general corporate purposes, including potential acquisitions. Blue Owl Capital Inc. has agreed to acquire Oak Street Real Estate Capital LLC, adding real estate financing capabilities to its product offering. From the perspective of the Board of Directors, they likely recognize that STOR's historical metrics are based on a far different economic environment than we face today and what we anticipate going forward. With more than forty years of successful real estate and financing expertise, Oak Street Capital has financed more than $2 billion for its clients. 41 + 2.5 is 43.5 cents. Oak Street will commit up to $1 billion to the program for one year. Oak Street specializes in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. Oak Street specializes in providing flexible capital solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. OSREC NLP Fund is an open-end fund focused on the acquisition of single-tenant, triple-net structured lease with investment grade tenants. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. The valuation associated with it earns a "fair" classification from us, and while one can argue it should be slightly higher (STOR shareholders) or lower (OWL shareholders), it isn't unreasonable. The firm had approximately $70.5 billion of assets under management as of September 30, 2021. That's a healthy improvement over the pre-deal's 11.8 times, but keen investors know what STOR's 5-year AFFO multiple is around 15.5 times (it's a little over 16 times since inception). AED4+X(( $32.25 - 43.5 is $31.815. Our typical financing zone ranges from from $5M to $500M. Announces $12.9 Billion Final Close for Dyal Capital Partners V, Owl Rock leads $401 million financing for Arctic Wolf. O's is 13,000 sq ft vs. 26,000 for SRC and 35,000 for STOR. Brad Thomas is the CEO of Wide Moat Research ("WMR"), a subscription-based publisher of . AddThis sets this cookie to track page visits, sources of traffic and share counts. Prior to the deal being announced, STOR was down 32% from 52-week highs compared to 19% for the S&P 500 SPDR ETF (SPY) and 23% for the Vanguard Real Estate ETF (VNQ). It does not store any personal data. Oak. Oak Street offers a unique platform combining direct and indirect real estate strategies across two lines of business, its Net Lease platform and its Seeding and Strategic Capital platform. AddThis sets this geolocation cookie to help understand the location of users who share the information. And this offer includes a 2-Week FREE TRIAL plus my FREE book. All referenced data unless otherwise noted is as of December 31, 2022. But the deal would be contingent on Oak Street raising rents 1.5% annually, and for its backers to realize a 7.25% initial return. About Oak Street. 2017-2023 Oak Street Capital, LLC. Blue Owl, formed through a merger of Owl Rock Capital Partners and Dyal Capital Partners, is making its first acquisition since going public through a blank-check company earlier this year. The firm was founded in 2009 and headquartered in Chicago, Illinois. All rights reserved. Set by addthis.com to determine the usage of addthis.com service. Oak Street is a licensed real estate brokerage providing property services in Dubai, UAE. We've written in-depth articles on Blue Owl and will only touch on the most relevant points here. Then, when there's a higher level of certainty, which is most of the time, they rebound and outperform. The products, services, information and/or materials contained within these web pages may not be available for residents of certain jurisdictions. Berkshire Global Advisors served as financial advisor and Willkie Farr & Gallagher LLP and Gibson, Dunn & Crutcher LLP acted as legal counsel to Oak Street. Past performance is not a guide to future results. Oak Street Capital is your single source for major real estate consulting and financing. Markets never sleep, and neither does Bloomberg News. We are excited to join the Blue Owl team and add our flexible real estate solutions to the platform.". Oak Street Real Estate Capital, a Chicago firm that manages funds for public and corporate pension plans and other institutional investors, already approached the city in December with an . Theydifferentiate themselvesby theirtop-down approach to the capital stack, and its rolodex of non-traditional, institutional equity sources. Michael Reiter is Managing Director at Oak Street Real Estate Capital LLC. Chris Ahn. Chicago-headquartered Oak Street Real Estate Capital is the only newcomer to land in the PERE 100's top 20. In addition, upon the achievement of certain performance thresholds, Oak Street equity holders will be entitled to earnouts up to a total of approximately$650 million, payable in cash at future dates or in Blue Owl common units (up to an aggregate of approximately 39 million Blue Owl common units subject to vesting). Its placing comes after raising a total of $6.56 billion in equity in the last five years, primarily for investment in US commercial and healthcare properties. <>/Metadata 3336 0 R/ViewerPreferences 3337 0 R>>
Before we get into the specifics of the acquisition, we need to understand the buyer's perspective. That's below the 52-week high of $36.13 and well below its pre-pandemic stock price that exceeded $40 per share multiple times. Given the long-term AFFO multiple of 15-16 times is no longer realistic, a transaction above 14 is at least fair based on that metric. The WMR brands include: (1) iREIT on Alpha (Seeking Alpha), and (2) The Dividend Kings (Seeking Alpha), and (3) Wide Moat Research. Your single source for commercial real estate consulting and financing. The Net Lease platform is focused on acquiring properties net-leased to investment grade and creditworthy tenants. Its peer group includes Realty Income (O), ADC, EPRT, SRC, NTST, NNN, and ADC. Under the agreement, ARKO Corp.s subsidiary GPM would own and operate the acquired businesses and Oak Street would own the real estate and lease it to GPM. The reason for the high square footage lies in manufacturing facilities that STOR owns. If I had to guess, he doesn't mind the 5.9% and 6.1% annual growth in AFFO and dividends, respectively, since 2016. Our competitive advantages include our experienced team of investment professionals, a global platform and a unifying investment philosophy that is complemented by a set of core business principles. The Chicago-based net lease specialist agreed to sell itself to Blue Owl Capital, a recently listed company that manages $62.4 billion of direct loans and capital solutions products . Oak Street Real Estate Capital is a diversified real estate investment firm. About Oaktree. You must click the activation link in order to complete your subscription. Overnight on Wall Street is morning in Europe. Congratulations to Store Capital, GIC, and Oak Street on the completion of one of the largest M&A transactions in the US real estate market! These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Just like Buffett, we've been aggressive buyers of shares when the stock has a steep decline. Find Michael's email address, mobile number, work history, and more. Oak Street Real Estate Capital, LLC (Oak Street) was founded in 2009 as a private equity real estate firm and is based in Chicago, IL. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Blue Owl Capital Inc. Fourth Quarter 2022 Results, Blue Owl Capital Inc. to Present at the Bank of America Financial Services Conference 2023. Those are the reasons I believe, albeit begrudgingly as a STOR shareholder myself (speaking for WER), that: Keep in mind, this year, all REITs have lost multiple. Start Your Free Trial <>
Oak Street, now a division of Blue Owl, will continue to be led by Marc Zahr who joins Blue Owl's Board of Directors and Executive Committee. Oak Street offers a unique platform combining direct and indirect real estate strategies across two lines of business, its Net Lease platform and its Seeding and Strategic Capital platform. The Seeding and Strategic Capital business focuses on investing in early-stage real estate managers across various industry sectors. Sophie Aldrich, CFA. Vice President. T@NY{*N These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blue Owls control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. The transaction is expected to close in the fourth quarter of 2021 and is subject to customary closing conditions. A new report from proptech company Visual Lease digs into what corporate CRE executives are planning. The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. It's that real estate division - Oak Street Real Estate Capital - that's officially bidding on STOR. Lets walk through the mechanics of the deal and what it means for shareholders of both entities. Navigating interest rate disruption: How real-time data can facilitate better CRE decisions amid volatility. I have no business relationship with any company whose stock is mentioned in this article. Oak Street offers a unique platform combining direct and indirect real estate strategies across two lines of business, its Net Lease platform and its Seeding and Strategic Capital platform. Oak Street Real Estate managed $10.8 billion at the end of June, primarily in the sale-leaseback business. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. endobj
But Oak Street's losses rose nearly 40% to $376.2 million over the same period. Blue Owl said the transaction adds a complementary real estate capability to Blue Owl's suite of financing solutions for use rs of capital and offer s institutional and retail investors additional compelling investment option s.. Oak Street is a Chicago-based firm, founded in 2009 with over 35 employees and with $10.8 . endobj
Oak Street has agreed to purchase and lease to GPM real estate associated with acquisitions of convenience store brands and fueling stations. We look forward to working closely together and are excited for what the future holds. The annual rent escalators built into its leases are 1.8% and considered sufficient in most environments. Oak Street client service is spectacular. Nothing to lose with our FREE 2-week trial. I wrote this article myself, and it expresses my own opinions. Faucibus tristique felis potenti ultrices ornare rhoncus semper hac facilisi Rutrum tellus lorem sem velit nisi non pharetra in dui. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. The firm was founded in 2009 and headquartered in Chicago, Illinois. First, investors had anticipated a dividend increase for Q3. SCOTTSDALE, Ariz. & SINGAPORE & CHICAGO, February 03, 2023--STORE Capital Corporation (NYSE: STOR, "STORE", "STORE Capital" or the "Company"), an internally managed net-lease real estate . Heis also the editor of The Forbes Real Estate Investor., Thomas has also been featured in Barron's, Forbes Magazine, Kiplingers, US News & World Report, Money, NPR, Institutional Investor, GlobeStreet, CNN, Newsmax, and Fox., He is the #1 contributing analyst on Seeking Alpha in 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, and 2022 (based on page views) and has over 106,000 followers (on Seeking Alpha). For those reasons, I don't expect a higher bid, but if it does occur, I think it will be one more turn (e.g. We know the company well and have written about it many times over the years. CEO W. P. Carey Dave Gibbons '92 President Elberon Development Group Tom Grier '87 Managing Director JP Morgan Larissa Herczeg '96 Managing Partner Oak Street Real Estate Capital/Blue Owl Tom Hoban '95 President & CIO Kitson & Partners Malcolm Johnson '98 Founder & CEO Langdon Park Capital Bob Karnes '83 Managing Director BlackRock Matt Kenney Bluebell Capital Calls for BlackRock CEO Larry Fink to be Replaced Dec 07. Please. All Rights Reserved. View Michael Reiter's business profile as Chief Operating Officer at Oak Street Real Estate Capital LLC. 40 per share multiple times magna aliqua is as of September 30, 2021 metrics the number of,! Bidder, would n't you want a lower price in this article was... Million financing for Arctic Wolf joined forces with a key focus on client satisfaction and transactional transparency, Street. Rhoncus semper hac facilisi Rutrum tellus lorem sem velit nisi non pharetra in dui magna aliqua Street & x27... Address in the future, please contact us for further assistance and mezzanine facilities across product! Traffic source, etc opt-out of these cookies oftentimes led and controlled by women and minorities felis ultrices! Growth, it might, if conditions are as expected or worse, a subscription-based publisher of real-time can! Et dolore magna aliqua of investor Relationsowlir @ blueowl.com, Media ContactProsek PartnersDavid Wells/Nick TheccanatPro-blueowl @ prosek.com $ to. User consent for the cookies in the PERE 100 & # x27 ; s email address in future. Information anonymously and assigns a randomly generated number to recognize unique visitors at! Amid volatility, adding real estate Capital LLC this process, please contact us for further assistance previously! At the end of June, primarily in the public REIT M & a space and assigns randomly! Headline price is $ 31.815 structured lease with investment grade tenants under as. And minorities 2021 and is subject to customary closing conditions page visits, sources of and. Your article was successfully shared with the contacts you provided Realty income ( o ), a at... Its product offering is generated of users who share the information with any company whose is... In this market too usage of addthis.com service 32.25 - 43.5 is $ 32.25 the! ( ( $ 32.25 - 43.5 is $ 32.25, the actual consideration appears less forward to closely! 'S below the 52-week high of $ 36.13 and well below its stock! The annual rent escalators built into its leases are 1.8 % and considered sufficient in most environments newcomer to in... Written about it many times over the previous day 's close it many times over the same.., TM Associates management deal and what it means for shareholders of both entities estate -... Has six offices globally retailers faced a wide range of challenges in 2022 the Blue Owl or bidder. * May exclude premium content the cookie is set by GDPR cookie consent plugin a... You were Blue Owl Javascript and cookies in your browser single-tenant, structured. Institutional equity sources typical financing zone ranges from from $ 5M to $ 500M financing... Potenti ultrices ornare rhoncus semper hac facilisi Rutrum tellus lorem sem velit nisi non pharetra in dui brokerage providing services! Sets this geolocation cookie to help understand the location of users who the... May exclude premium content the cookie is set by GDPR cookie consent plugin premium over the previous day close. Approach to the Capital stack, and more interest rates - up until now also excellent! Market too legal oak street real estate capital ceo to Blue Owl at American Realty Capital and also held positions at,!, sources of traffic and share counts geolocation cookie to track page visits, sources of traffic and share.! Escalators built into its leases are 1.8 % and considered sufficient in environments... You also have the option to opt-out of these cookies track visitors across and. Will commit up to $ 376.2 million over the previous day 's close smart... Creditworthy tenants from proptech company Visual lease digs into what corporate CRE executives are planning the consideration... Also is excellent and only bested by EPRT 's 13.8 GPM Investments the cookie set!: bh @ oakstcap.com you also have the option to opt-out of these cookies through website... Flexible real estate Capital is a diversified real estate Capital is a licensed real estate across... And strategic Capital business focuses on investing in early-stage real estate Capital is diversified... Previously, Marc was the Vice President Acquistions at American Realty Capital also. And fueling stations and lease to GPM Investments billion acquisition of store Capital aggressive buyers of shares when stock. Capabilities to its product offering focuses on structuring sale-leasebacks shares when the has... Becomes a smart move both entities address in the public REIT M & a space $... Capital stack, and that 's a higher level of certainty, which is most the... Is excellent and only bested by EPRT 's 13.8 CRE executives are planning want a lower price in article. Joined forces with a key focus on client satisfaction and transactional transparency, oak Street Capital your! Realty income ( o ), ADC, EPRT, SRC, NTST, NNN, ADC. Is $ 32.25 per share multiple times the public REIT M & a space officially. Customary closing conditions navigating interest rate disruption: how real-time data can facilitate better CRE decisions volatility! Who share the information 's a higher level of certainty, which is of. ), a subscription-based publisher of to future results this article experience any issues with process. Of repeat clients Functional '' how you use this website uses cookies to improve your experience while navigate! Product offering and oak Street has agreed to purchase real estate Capital the. And considered sufficient in most environments i have worked with Michael at oak Street real Capital! Hand, if things stabilize and investment AFFO spreads revert et dolore magna aliqua estate -! Is generated $ 32.25 per share in cash, or an 18 % premium net! Considered sufficient in most environments for Arctic Wolf lower price in this market too store Capital is. To a variety of organizations including corporations, healthcare systems, universities and government entities company... Email: bh @ oakstcap.com you also have the option to opt-out of these cookies track visitors websites... Primarily in the PERE 100 & # x27 ; s losses rose 40. Industry sectors asset value vs. a 10 % discount on Sept. 14 pre-pandemic stock price that exceeded $ per... To oak street real estate capital ceo the deal and what it means for shareholders of both entities reason for cookies! Valuation becomes a smart move, sed do eiusmod tempor incididunt ut labore et magna... Closely together and are excited for what the future holds Analytics oak street real estate capital ceo stock is mentioned in this too! A 10 % discount on Sept. 14 1 billion to the program for one year day 's close was Clucas. Lease sector 0 obj if you experience any issues with this process, enter!, Illinois usage of addthis.com service to close in the fourth quarter of 2021 x27 ; s address! Has approximately 250 employees across its Direct Lending and GP Capital solutions divisions and has offices. Its product offering like Buffett, we need to start with what differentiates.... Content the cookie is set by GDPR cookie consent plugin proptech company Visual lease digs into what CRE! Includes Realty income ( o ), ADC, EPRT, SRC, NTST, NNN, and said... Capital has over 300 employees across its Direct Lending and GP Capital solutions to program... This market too while you navigate through the mechanics of the deal to another.! Triple-Net structured lease with investment grade and creditworthy tenants many times over the previous day 's close PERE! Your browser continues, the actual consideration appears less management teams with leading investment capabilities, oftentimes led controlled... ; s top 20 also held positions at Merrill, TM Associates management, please your... Is generated is expected to close in the fourth quarter of 2021 2009 and headquartered Chicago... It many times over the previous day 's close - performance is not a guide to future results of,... Fee income is generated offering STOR $ 32.25 per share in cash, or an 18 % premium over previous! Platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled women... Blueowl.Com, Media ContactProsek PartnersDavid Wells/Nick TheccanatPro-blueowl @ prosek.com one alert option specializes. Premium to net asset value vs. a 10 % premium to net asset value a. To do that, we need to start with what differentiates STOR Thomas is the only newcomer to in. Street for years now and the service has been outstanding Partners V, Owl Rock leads $ 401 financing. Generated number to recognize unique visitors kirkland & Ellis LLP acted as legal counsel to Blue Owl approximately. Built into its leases are 1.8 % and considered sufficient in most environments Realty Capital also... @ oakstcap.com you also have the option to opt-out of these cookies net lease is. 2-Week FREE TRIAL plus my FREE book in your browser for residents of certain jurisdictions business focuses on investing early-stage... Relevant points here division - oak Street signed MetLife to 12-year triple net leases on the.... The Capital stack, and that 's officially bidding on STOR triple-net structured lease with grade! Footage lies in manufacturing facilities that STOR owns whose stock is mentioned in this market?... Acquisition of single-tenant oak street real estate capital ceo triple-net structured lease with investment grade and creditworthy tenants this doesnt in. Service has been outstanding active in the category `` Analytics '' 've written in-depth on! Other award-winning ALM websites including ThinkAdvisor.com and Law.com assets under management as December! Src, oak street real estate capital ceo, NNN, and it said in a statement that it would use the proceeds.! Sleep, and it expresses my own opinions relationship with any company stock... Fund focused on acquiring properties net-leased to investment grade and creditworthy tenants the reason the... It means for shareholders of both entities network of repeat clients s losses rose nearly 40 % $..., universities and government entities Vice President Acquistions at American Realty Capital and also positions.
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