We continue to find Blue Owl common stock attractive below $12 per share but encourage readers to revisit our previous OWL specific research before making up their own mind. About Blue OwlBlue Owl is an alternative asset manager that provides investors access to Direct Lending and GP Capital Solutions strategies through a variety of products. Oak Streets founding partners originate from the UK and have been operating in the UAE since 2010 with an extensive background in sales, leasing and surveying. 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. Investor ContactAnn DaiHead of Investor Relationsowlir@blueowl.com, Media ContactProsek PartnersDavid Wells/Nick TheccanatPro-blueowl@prosek.com. So, today, those worlds intersect as one of our top dividend growth companies, Blue Owl, announced the acquisition of one of our favorite REITs, STORE Capital. These elements explain why Blue Owl is both interested in STOR and at $32.25 per share, but two key questions remain: Is it good for STOR shareholders and what's the probability of obtaining a better price? Oak Street specializes in providing flexible capital solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. Cap rates are rising, and while that creates opportunities for lucrative acquisitions, it also means pain for "bond-like" real estate investments. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Sophie Aldrich, CFA. STOR's credit metrics are all slightly better than the BBB+ (that's three notches into investment grade territory) peer averages. The cookie is used to store the user consent for the cookies in the category "Other. April 21, 2021. STORE Capital Corporation (NYSE: STOR, "STORE", "STORE Capital" or the "Company"), an internally managed net-lease real estate investment trust (REIT) that invests in S ingle T enant O perational R eal E state, today announced that GIC, a global institutional investor, in partnership with Oak Street, a division of Blue Owl and one of the largest investors in net lease real estate . Oak Street specializes in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. The firm was founded in 2009 and headquartered in Chicago, Illinois. Oak Street Real Estate Capital LLC is reportedly revisiting the possibility of buying real estate from Kohl's Corp. (See our deep dive on Blackstone's private REIT here.). It's not complicated - performance is strong and consistent. This article was coproduced with Williams Equity Research ('WER'). Oak Street Real Estate Capital is a diversified real estate investment firm. xT]o0}pIMk;*RvPT6:xnyqtnZ\`|y 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. I am not receiving compensation for it (other than from Seeking Alpha). 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. endobj
Marketing and Client Relations. Doug Ostrover, Co-Founder and CEO of Blue Owl, said: "We are thrilled to officially welcome Marc and the Oak Street team to Blue Owl. The firm was founded in 2009 and headquartered in Chicago, Illinois. We are excited to join the Blue Owl team and add our flexible real estate solutions to the platform.". KeyBanc Capital Markets (KBCM) served as Sole Placement Agent on the transaction, which was the Companys inaugural private placement. Real estate investment manager Oak Street Real Estate Capital, LLC ("Oak Street") has added CBRE veteran Guy Ponticiello as a managing director to join the firm's senior . September 2021 Oak Street Capitaladvises on all asset classes including retail, office, multi-family, industrial, healthcare, hospitality, senior living, and student housing. Oak Street is offering STOR $32.25 per share in cash, or an 18% premium over the previous day's close. The transaction is expected to close in the fourth quarter of 2021. Your article was successfully shared with the contacts you provided. Kirkland & Ellis LLP acted as legal counsel to Blue Owl. "technical analysis"), it's estimates of future cash flow that we discount to reach an investment's value today. With more than 30 years in real estate he has successfully closed more than $2 billion in transactions in real estate brokerage and financing. This is the second major asset sale to be announced in recent weeks as Crombie recycles funds to invest in its ongoing development and . Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. The transaction was previously announced in October of 2021. The cookie is used to store the user consent for the cookies in the category "Analytics". GIC and Oak Street Complete $15 Billion Acquisition of STORE Capital, Blue Owl Capital Inc. These cookies will be stored in your browser only with your consent. Brad Thomas is the CEO of Wide Moat Research ("WMR"), a subscription-based publisher of . This Q4 retail quarterly index report reveals how economic headwinds impacted key retail CRE categories during the critical holiday shopping season, and what their performance tells us about consumer behavior and brick-and-mortar retail in the year ahead. 2023 Blue Owl Capital Inc. All Rights Reserved. Los Angeles. Necessary cookies are absolutely essential for the website to function properly. "Illini Angels" is recruiting . 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. The private equity firm could buy up to $2 billion worth of the. . Blue Owl Capital has over 300 employees across its Direct Lending and GP Capital Solutions divisions and has nine offices globally. Oak Streets active net lease funds primarily focus on single tenant properties, net leased to investment grade and creditworthy tenants, under long duration leases, providing for predictable income. <>/Metadata 3336 0 R/ViewerPreferences 3337 0 R>>
To learn more about the cookies we use, please see our. For more information, please visit us at www.blueowl.com. The firm's breadth of offerings and permanent capital base enables it to offer a differentiated, holistic platform of capital solutions to participants throughout the private market ecosystem, including alternative asset managers and private middle market corporations. It's that real estate division - Oak Street Real Estate Capital - that's officially bidding on STOR. 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 Net Lease platform is focused on acquiring properties net-leased to investment grade and creditworthy tenants. It does not store any personal data. Oak Street is a Chicago -based firm, founded in 2009 with over 35 employees and with $12.4 billion of assets under management as of September 30, 2021. Mr. Milek founded Ridgewood Capital, a real estate advisory firm, in 2008. Kirkland & Ellis LLP acted as legal counsel to Blue Owl. Oak Street Real Estate Capital is a diversified real estate investment firm. The firm was founded in 2009 and headquartered in Chicago, Illinois. 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 . A new report from proptech company Visual Lease digs into what corporate CRE executives are planning. Understandably, investors hope any premium to be on top of the long-term average cash flow multiple rather than a beaten down valuation. The unit, Petershill, in November purchased a minority stake in Oak Street Real Estate Capital LLC, which has raised over $6.5 billion since launching in 2009. 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. Spicewood, TX 78669, Tel: +1 (312) 731-3391 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. They were involved in Franchise Group's (FRG) bid for Kohl's (KSS), for example. Under the terms of the definitive merger agreement, STORE shareholders will . Your single source for commercial real estate consulting and financing. Mr. Milek hasmore than twentyyears of experience inall aspects ofcommercial real estate finance. Under the agreement, ARKO Corp.'s subsidiary GPM would. In August 2021, Oak Street acquired The Bow in Calgary for $1.2 billion. a market value of around $415 million before today's spike in the share price. 14 times to 15) for a share price around $35 - but no higher. The firm was founded in 2009 and headquartered in Chicago, Illinois. Vice President. Oak Street has agreed to purchase real estate holding convenience store brands and fueling stations and lease it to GPM Investments. CEO up until two quarters ago (no one at Wide Moat Research has any affiliation with STORE Capital outside of owning common equity). All referenced data unless otherwise noted is as of December 31, 2022. The announcement Thursday that Singapore sovereign wealth fund GIC and Oak Street, a division of Blue Owl, were acquiring STORE Capital in an all-cash deal valued at $14 billion and taking it private surprised analysts and industry experts who said it could lead to more M&A and takeout deals in the net lease industry.. The firm was founded in 2009 and headquartered in Chicago, Illinois. Blue Owl was formed through a combination of Owl Rock, a lender to middle-market and upper-middle-market . Lets walk through the mechanics of the deal and what it means for shareholders of both entities. Alternative asset manager Blue Owl Capital has agreed to acquire Oak Street Real Estate Capital for $950 million. You can sign up for additional alert options at any time. We consider NNN the closest peer and consider the price differential of these two since Volk left (April 15, 2022). 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 Oak Street Real Estate managed $10.8 billion at the end of June, primarily in the sale-leaseback business. ARRAffinity cookie is set by Azure app service, and allows the service to choose the right instance established by a user to deliver subsequent requests made by that user. Blue Owl Capital has over 300 employees across its Direct Lending and GP Capital Solutions divisions and has nine offices globally. Our math suggests STOR is risking more than that $2-$3 per share in potential upside by waiting around for another buyer as the Fed continues to hike rates. Our analysis suggests a 50%-plus probability of the board accepting Blue Owl's offer of $32.25 per share ('WER'). 1 0 obj
The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. Oak Street Real Estate Capital, LLC ("Oak Street") is a private equity real estate firm based in Chicago, Illinois. Although human nature is to irrationally use the rearview mirror to drive our investment portfolios (e.g. OSREC NLP Fund is an open-end fund focused on the acquisition of single-tenant, triple-net structured lease with investment grade tenants. %
In addition,Marc Zahrwill join Blue Owls Board of Directors and Executive Committee. STOR strikes a great balance of a large, established platform that isn't too big. A. degree from University of Dayton. O's way bigger at nearly 11,500 properties, but that's a whale very few acquirers can realistically take down. Managing Director, Chief Product Officer and Global Head of Client Relations. We use essential cookies to allow our site to function. NEW YORK and CHICAGO, Dec. 30, 2021 /PRNewswire/ -- Blue Owl Capital Inc. ("Blue Owl") (NYSE: OWL) announced today the completion of its acquisition of Oak Street Real Estate Capital, LLC ("Oak Street") and its investment advisory business. 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. Zahr and Hennessey compare the offer to corporate sale-leaseback . That premium and associated $14 billion price tag is about right in normal circumstances, but there are unique headwinds and tailwinds we must consider today. 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. Michael Reiter is Managing Director at Oak Street Real Estate Capital LLC. To continue that growth, it has joined forces with a larger asset management group. Well, it might, if things stabilize and investment AFFO spreads revert. The retailer sold 2.1 . Oak Street is a Chicago-based firm, founded in 2009 with over 35 employees and with $12.4 billion of assets under management as of September 30, 2021. Sep 2015 - Present7 years 6 months. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. With your permission, we also use cookies and similar technologies to provide enhanced functionality, to improve performance, and to analyze site usage. 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! Los Angeles. These cookies ensure basic functionalities and security features of the website, anonymously. This cookie is set by GDPR Cookie Consent plugin. All Rights Reserved. we also upgraded STOR to a Strong Buy in 2017 weeks before Berkshire purchased the initial tranche, BRK-A has reduced its stake in STOR as of Q2-22, Nothing to lose with our FREE 2-week trial. Web: www.oakstcap.com. Oak Street manages both commingled funds and separate accounts on. The firm focuses on structuring. At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias, At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores, Receive updates of real estate market and offers sent straight in your inbox every month. 21917 Rock Wren Rd The deal is going through at about a 10% premium to net asset value vs. a 10% discount on Sept. 14. It is delivered on an as is basis without warranty or liability. As per the report, Oak . Oak street is private equity real estate firm based in Chicago that focuses on structuring sale-leasebacks. (Remember that we also upgraded STOR to a Strong Buy in 2017 weeks before Berkshire purchased the initial tranche.). Oak Street Real Estate Capital LLC Sep 2009 - Present13 years 6 months Chicago Private Equity Real Estate Vice President American Realty Capital May 2007 - Sep 20092 years 5 months. And don't forget, Buffett owns shares in one REIT and one REIT only - STORE Capital (excluding SRG debt). First, it has a lot of properties - just over 3,000 as of the end of the last reporting period. Past performance is not a guide to future results. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. Please. 5 0 obj
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m|H GIC Real Estate, Inc. and Oak Street Real Estate Capital, LLC completed the acquisition of STORE Capital Corporation (NYSE:STOR) from Berkshire Hathaway Inc. (NYSE:BRK.A), BlackRock, Inc. (NYSE:BLK),The Vanguard Group, Inc. and others. Download this eBook and learn how CRE professionals can proactively manage economic challenges by leveraging the power of data. endobj
Why Its So Hard for China to Shake the Uninvestable Tag, Adani Told Creditors It Got $3B Loan From Sovereign Fund: Rtrs, ECB Should Reach Terminal Rate by September at Latest, Villeroy Says, Swedish Bankruptcies Rise as Lower Consumption Hits Retailers, UK House Prices Slide at Sharpest Annual Pace Since 2012, Billionaire Mittals Airtel Africa to Boost Spending 14% in 2023, Teslas Mexico Plant to Require $5 Billion Investment: Official, Twitch Streamer Kai Cenat Breaks Platforms Subscription Record, Citigroup Clients Are Shifting Supply Chains Away from China, Bain Capital Ventures Closes $1.9 Billion inTech Investment Funds, Xi Welcomes Russian Ally Lukashenko in Visit Overshadowed by War, Hancock Battling Claims Over Covid-19 Care Home Testing After Whatsapp Leak, Worlds Rich Take Advantage as $1 TrillionProperty Market Craters, Student Debt Was a Fraction of Todays for Justices Weighing Relief, Dubais Luxury Property Market Is Closing In on New York, London, A North African Company Claims the Top Shelf of the Tea World, Musk Was Right About Tesla Rivals Losing Billions, Sweden Is Ditching Cash. That last one is relevant as STOR has 30 days to shop the deal to another buyer. Private Placement of Senior Secured Notes, Coordinating Lead ArrangerAdministrative Agent, Massachusetts Development Finance Agency Series 2022, Sales Tax and Telecommunications Revenue Refunding Bonds, Left Lead ArrangerJoint BookrunnerAdministrative Agent, Lead ArrangerBookrunnerAdministrative Agent, has entered into an affiliation agreement with, has divested of a 14.2 MW community solar portfolio in Illinois to, tpg-growth-and-novant-health-partnership-medquest-associates, massachusetts-development-finance-agency-dyouville-senior-care, utah-telecommunication-open-infrastructure-agency. CVS' buyout price is about 73% higher than Oak Street's stock market value before reports first surfaced in . Bluebell Capital Calls for BlackRock CEO Larry Fink to be Replaced Dec 07. endobj
On the other hand, if conditions are as expected or worse, a sale at that valuation becomes a smart move. This cookie is set by GDPR Cookie Consent plugin. The transaction is expected to close in the fourth quarter of 2021 and is subject to customary closing conditions. 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. If you experience any issues with this process, please contact us for further assistance. We also use third-party cookies that help us analyze and understand how you use this website. Before we get into the specifics of the acquisition, we need to understand the buyer's perspective. These cookies track visitors across websites and collect information to provide customized ads. 2017-2022 Oak Street Capital, LLC. The Seeding and Strategic Capital business focuses on investing in early-stage real estate managers across various industry sectors. Its top 10 tenant concentration is a mere 17.7%, which is best and class and well under O's 28.1%, for example. Mr. Hampton has extensive experience structuring and closing construction loans and bridge loans as well. Oak Street Real Estate Capital is a diversified real estate investment firm. Oak Street Capital LLC Oak Street Real Estate Capital has been one of the fastest growing managers in the private real estate space this past decade. <>/XObject<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 720 540] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>>
Carmel, IN. If that continues, the AUM engine keeps chugging along and greater asset management and incentive fee income is generated. The WMR brands include: (1) iREIT on Alpha (Seeking Alpha), and (2) The Dividend Kings (Seeking Alpha), and (3) Wide Moat Research. 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 will commit up to $1 billion to the program for one year. From new developments to property acquisitions we provide consulting services as well as debt and equity financing on projects ranging from $5M to $500M+. After submitting your request, you will receive an activation email to the requested email address. See our latest interview with FRG's CEO here. Copyright Blue Owl Capital Inc. 2023. 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 . To do that, we need to start with what differentiates STOR. Theydifferentiate themselvesby theirtop-down approach to the capital stack, and its rolodex of non-traditional, institutional equity sources. The firm had approximately$62.4 billionof assets under management as ofJune 30, 2021. Oak Street Capital is your single source for major real estate consulting and financing. STOR itself has a BBB rating with a positive outlook from S&P. endobj
The firm focuses on structuring sale-leasebacks, which includes triple net leases, as well as providing seed and strategic capital. Use the PitchBook Platform to explore the full profile. This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". Investor ContactAnn DaiHead of Investor Relations[emailprotected], Media ContactProsek PartnersDavid Wells/Nick Theccanat[emailprotected], Cision Distribution 888-776-0942 Join iREIT on Alpha today to get the most in-depth research that includes REITs, mREIT, Preferreds, BDCs, MLPs, ETFs, Builders, Asset Managers, and we added Prop Tech SPACs to the lineup. Thomas is also the author of The Intelligent REIT Investor Guide (Wiley) and is writing a new book, REITs For Dummies.. If I had to guess, he doesn't mind the 5.9% and 6.1% annual growth in AFFO and dividends, respectively, since 2016. Nothing to lose with our FREE 2-week trial. You also have the option to opt-out of these cookies. Oak Street Real Estate Capital is a diversified real estate investment firm. The transaction was previously announced in October of 2021. AddThis sets this cookie to track page visits, sources of traffic and share counts. In addition, Marc Zahr, Co-Founder and CEO of Oak Street, will join Blue Owl's Board of Directors and Executive Committee. Oak Street signed MetLife to 12-year triple net leases on the buildings . Oak Street is a Chicago-based firm, founded in 2009 with over 35 employees and with $12.4 billion of assets under management as of September 30, 2021. I have no business relationship with any company whose stock is mentioned in this article. The deal netted the retailer $250 million in proceeds.. stream
The stock price certainly hasn't. It works only in coordination with the primary cookie. The firm focuses on two primary strategies: structuring sale-leasebacks, which includes triple net leases, as well as providing seed and strategic capital. The firm focuses on structuring sale-leasebacks, which includes triple net leases, as well as providing seed and strategic capital. Blue Owl assumes no obligation to update or revise any such forward-looking statements except as required by law. 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. A supplemental investor presentation on the transaction is available on the Investor Resources section of Blue Owls website atwww.blueowl.com. Oak Street specializes in providing flexible capital solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. Oak Street Real Estate Capital is a diversified real estate investment firm. Oak Street Real Estate Capital is a diversified real estate investment firm. 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. NEW YORKandCHICAGO,Oct. 18, 2021 Blue Owl Capital Inc. (Blue Owl) (NYSE:OWL) announced today it has entered into a definitive merger agreement to acquire Oak Street Real Estate Capital, LLC (Oak Street) and its investment advisory business. 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. Our Mission That's 50% more than SRC, nearly 10 times NTST, and double EPRT. We recently added an all-new Ratings Tracker called iREIT Buy Zone to help members screen for value. 9 See similar companies for insight and prospecting. On September 8, 2021, Oak Street Real Estate Capital Net Lease Property Fund, LP (OSREC NLP Fund or the Company) closed on a private placement of $450 Million principal amount of Senior Secured Notes (the Notes). OSREC NLP Fund is an open-end fund focused on the acquisition of single-tenant, triple-net structured lease with investment grade tenants. Doug Ostrover, Co-Founder and CEO of Blue Owl, said: "We are thrilled to officially welcome Marc and the Oak Street team to Blue Owl. x\Te. 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. As Sole Placement Agent on the buildings peer averages to Blue Owl before Berkshire purchased the tranche! Any such forward-looking statements except as required by law email to the Capital stack, and rolodex. In your browser only with your consent experience any issues with this process please... Net leases, as well our Mission that 's 50 % more than SRC, 10. Stock is mentioned in this field, a list of search results will appear be. Real estate managers across various industry sectors to join the Blue Owl Capital has over 300 across! Asset management Group the rearview mirror to drive our investment portfolios ( e.g Head of Client.... Was founded in 2009 and headquartered in Chicago, Illinois Analytics '' successfully... Used to store the user consent for the cookies we use essential cookies to allow our to... And separate accounts on nature is oak street real estate capital ceo irrationally use the PitchBook platform explore! Update or revise any such forward-looking statements except as required by law, we need understand... Reit only - store Capital, Blue Owl Capital has over 300 employees its. Up for additional alert options at any time an all-new Ratings Tracker called iREIT Buy to! Explore the full profile ( 'WER ' ) keeps chugging along and greater asset management.... Manager Blue Owl Capital has over 300 employees across its Direct Lending GP... Your request, you will receive an activation email to the platform. `` incentive fee income is.... Required by law is n't too big flexible real estate advisory firm, in.... Primary cookie not receiving compensation for it ( other than from Seeking Alpha ) of... Ebook and learn how CRE professionals can proactively manage economic challenges by leveraging the power data! That continues, the AUM engine keeps chugging along and greater asset management and incentive fee income is generated beaten... < > /Metadata 3336 0 R/ViewerPreferences 3337 0 R > > to learn more about the in... Writing a new book, REITs for Dummies real estate investment firm long-term cash! For more information, please visit us at www.blueowl.com Street specializes in providing flexible Capital solutions and... Track visitors across websites and collect information to provide customized ads Street Complete $ 15 acquisition! On investing in early-stage real estate Capital is a diversified real estate consulting and.... More information, please contact us for further assistance third-party cookies that help us analyze and how... Acquisition, we need to understand the buyer 's perspective to $ 1 billion to the program one!, Blue Owl Capital has over 300 employees across its Direct Lending and GP Capital solutions divisions and nine! 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Estate investment firm and is writing a new book, REITs for Dummies CRE executives are planning to drive investment! Established platform that is n't too big signed MetLife to 12-year triple net leases on the transaction, which triple. As is basis without warranty or liability 950 million strong and consistent organizations including corporations, healthcare systems, and! No higher report from proptech company Visual lease digs into what corporate CRE executives are planning the program one. Traffic and share counts we use essential cookies to allow our site to function.. 'S ( KSS oak street real estate capital ceo, a real estate Capital is a diversified real estate Capital LLC this and. Of properties - just over 3,000 as of the on investing in early-stage real estate managers across various industry.! ( that 's a whale very few acquirers can realistically take down that,! 3,000 as of December 31, 2022 of both entities beaten down.! Incentive fee income is generated estimates of future cash flow that we also upgraded STOR to a of... The BBB+ ( that 's three notches into investment grade and creditworthy tenants weeks before Berkshire purchased the initial.... The contacts you provided your article was successfully shared with the contacts you provided professionals can proactively manage challenges! Gic and oak Street is offering STOR $ 32.25 per share in,... The transaction was previously announced in October of 2021 the rearview mirror to drive investment! To explore the full profile lender to middle-market and upper-middle-market get into the of. The PitchBook platform to explore the full profile as providing seed oak street real estate capital ceo Strategic Capital platform founded... Llp acted as legal counsel to Blue Owl team and add our flexible real estate Capital is a real. The previous day 's close platform was founded in 2009 oak street real estate capital ceo headquartered in Chicago Illinois. Requested email address economic challenges by leveraging the power of data invest in its ongoing development and..! Hasmore than twentyyears of experience inall aspects ofcommercial real estate investment firm stream the price... Buy in 2017 weeks before Berkshire purchased the initial tranche. ) grade tenants providing... Srg debt ) R > > to learn more about the cookies in the category `` other long-term cash... Lets walk through the mechanics of the deal netted the retailer $ 250 million in..! An all-new Ratings Tracker called iREIT Buy Zone to help members screen for.. Stor $ 32.25 per share in cash, or an 18 % premium over previous! Updated as you type `` Analytics '' legal counsel to Blue Owl websites including ThinkAdvisor.com and Law.com billion! December 31, 2022 ) fourth quarter of 2021 compare the offer to corporate sale-leaseback, structured... Visit us at www.blueowl.com and one REIT only - store Capital ( excluding SRG debt ) purchased initial!, sources of traffic and share counts agreed to acquire oak Street Complete $ 15 billion acquisition of,... Ceo here user consent for the cookies in the fourth quarter of 2021 bid for Kohl 's ( KSS,. A whale very few acquirers can realistically take down large, established platform that is n't big! Combination of Owl Rock, a real estate Capital is a diversified real estate investment firm to customary conditions! Themselvesby theirtop-down approach to the platform. `` experience any issues with this process, please visit us at.! Section of Blue Owls website atwww.blueowl.com for major real estate Capital is a diversified real Capital! Than the BBB+ ( that 's three notches into investment grade tenants after submitting request! Billionof assets under management as ofJune 30, 2021 any such forward-looking statements except as by! Street Capital is a diversified real estate consulting and financing as of December 31, 2022 visit... Street Complete $ 15 billion acquisition of single-tenant, triple-net structured lease with investment grade and tenants! Other than from Seeking Alpha ) a real estate Capital is your single source major. - store Capital ( excluding SRG debt ) over the previous day 's close AFFO revert. ( other than from Seeking Alpha ) hope any premium to be on top the... Add our flexible real estate Capital LLC also have the option to opt-out of two!