Investor ContactAnn DaiHead of Investor Relationsowlir@blueowl.com, Media ContactProsek PartnersDavid Wells/Nick TheccanatPro-blueowl@prosek.com. This cookie is set by GDPR Cookie Consent plugin. <>/XObject<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 720 540] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Oak Street is a licensed real estate brokerage providing property services in Dubai, UAE. The firm had approximately$62.4 billionof assets under management as ofJune 30, 2021. If you were Blue Owl or another bidder, wouldn't you want a lower price in this market too? From new developments, acquisitions to re-finance of existing assets we provide equity, mezzanine and debt from a diverse number of funding sources on projects ranging from $5M to $500M+. <> Chris Ahn. STOR's exposure to high and medium risk tenants (defined by their sector not individual credit quality) is just over 80%. 3 0 obj All Rights Reserved. The current commercial real estate (CRE) landscape faces disruption from economic and geopolitical fallout. Oak Street Real Estate Capital is a diversified real estate investment firm. 9 See similar companies for insight and prospecting. The firm was founded in 2009 and headquartered in Chicago, Illinois. Blue Owl assumes no obligation to update or revise any such forward-looking statements except as required by law. (See our deep dive on Blackstone's private REIT here.). 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. Retailers faced a wide range of challenges in 2022. 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. Oak Street Capital LLC For more information, please visit us at www.blueowl.com. 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. endobj Oak Street specializes in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. 2017-2023 Oak Street Capital, LLC. Oak. The transaction was previously announced in October of 2021. The question is whether STOR's multiple will rise after rate increases. Miami reclaimed the top destination for the first time since August. You also have the option to opt-out of these cookies. The firm had approximately $70.5 billion of assets under management as of September 30, 2021. 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. Assuming 6%+, which is below their reported AFFO growth, that's 2.5 cents a share, or equal to the 2021 increase. <> Copyright Blue Owl Capital Inc. 2023. And don't forget, Buffett owns shares in one REIT and one REIT only - STORE Capital (excluding SRG debt). Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. 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. Email: bh@oakstcap.com 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 . Oak Street, a division of Blue Owl, a Chicago-based firm, and Singapore-headquartered GIC announced today the completion of the previously announced acquisition of all of the. Managing Director, Chief Product Officer and Global Head of Client Relations. 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. Brad Thomas is the CEO of Wide Moat Research ("WMR"), a subscription-based publisher of financial information, serving over 10,000 investors around the world. Oak Street Real Estate Capital is a diversified real estate investment firm. 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. 14 times to 15) for a share price around $35 - but no higher. The deal is expected to close in the fourth quarter, subject to customary closing conditions. All Rights Reserved. Use the PitchBook Platform to explore the full profile. Blue Owl has approximately 250 employees across its Direct Lending and GP Capital Solutions divisions and has six offices globally. Oak Street specialises in residential freehold communities throughout Dubai with a strong emphasis on operating to the highest professional and ethical standards. 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). This is the second major asset sale to be announced in recent weeks as Crombie recycles funds to invest in its ongoing development and . The firm was founded in 2009 and headquartered in Chicago, Illinois. About Oaktree. 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. Oak Street Real Estate Capital LLC is reportedly revisiting the possibility of buying real estate from Kohl's Corp. 2 0 obj DFIN was Jason Clucas on LinkedIn: GIC and Oak Street Complete $15 Billion Acquisition of STORE Capital 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. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. 1 0 obj Berkshire Global Advisors served as financial advisor andWillkie Farr& Gallagher LLP acted as legal counsel to Oak Street. When used in this press release, the words estimates, projected, expects, anticipates, forecasts, plans, intends, believes, seeks, may, will, would, should, future, propose, target, goal, objective, outlook and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. 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 . Under the terms of the definitive merger agreement, STORE shareholders will . Sign In Now, This is Why Multifamily Developers Have Soured on the Sunbelt, CRE Prices Could Fall 40% This Year in an Adverse Fed Planning Scenario, CRE Prices Slide at a Rate Not Seen Since 2010, Experts Keep Guessing at When the US Will See a Recession, Bed Bath & Beyond Closing All Stores in Canada. Blue Owl Capital's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. %PDF-1.7 Oak Street has been very active in the public REIT M&A space. The firm was founded in 2009 and headquartered inChicago, Illinois. The 51% and 93% compound annual growth rate in fee-paying AUM and fee related earnings, respectively, demonstrates the immense success they've had in that market. That ties O and beats SRC's 28%. Blue Owl Capital Inc. has agreed to acquire Oak Street Real Estate Capital LLC, adding real estate financing capabilities to its product offering. The Net Lease platform is focused on acquiring properties net-leased to investment grade and creditworthy tenants. It will lease back the space from Oak Street Real Estate Capital, the Chicago private-equity firm, under long-term leases. Chairman & CEO Ben Mohns Head of Asset Management - North America Brian Mutchler Head of Special Situations Erin Nahumyk Chief Accounting Officer Geoff Regnery Global Head of Investor Relations Jenna Sheehan Head of Investor Relations - North America, Chief Marketing Officer Joey Lansing Global Head of Portfolio Management & Strategy Announces $12.9 Billion Final Close for Dyal Capital Partners V, Owl Rock leads $401 million financing for Arctic Wolf. This is especially meaningful because I don't think STOR has responded to increased certainty on another substantial near-term increase in rates of 75-100 basis points. 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. Web: www.oakstcap.com. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. Alternative asset manager Blue Owl Capital has agreed to acquire Oak Street Real Estate Capital for $950 million. 2017-2022 Oak Street Capital, LLC. Download this whitepaper to learn which top retail CRE brands are poised for big things in 2023. 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. Analytical cookies are used to understand how visitors interact with the website. Oak Street is offering STOR $32.25 per share in cash, or an 18% premium over the previous day's close. Kirkland & Ellis LLP acted as legal counsel to Blue Owl. View Michael Reiter's business profile as Chief Operating Officer at Oak Street Real Estate Capital LLC. For more information, please visit us at www.blueowl.com. Oak Street has agreed to purchase real estate holding convenience store brands and fueling stations and lease it to GPM Investments. 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 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. Set by addthis.com to determine the usage of addthis.com service. The cookie is used to store the user consent for the cookies in the category "Performance". Investor ContactAnn DaiHead of Investor Relationsowlir@blueowl.com, Media ContactProsek PartnersDavid Wells/Nick TheccanatPro-blueowl@prosek.com, View original content to download multimedia:https://www.prnewswire.com/news-releases/blue-owl-capital-completes-acquisition-of-oak-street-real-estate-capital-301451517.html, 399 Park Avenue, 37th Floor New York, NY 10022. 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. 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. The firm provides strategic institutional capital to managers enhanced by attractive general partnership economics and an active governance role. Oak Street Capital is your single source for major real estate consulting and financing. 99.5% occupancy as of the end of Q2 is also difficult to beat. Oak street is private equity real estate firm based in Chicago that focuses on structuring sale-leasebacks. See our latest interview with FRG's CEO here. Navigating interest rate disruption: How real-time data can facilitate better CRE decisions amid volatility. 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. Our analysis suggests a 50%-plus probability of the board accepting Blue Owl's offer of $32.25 per share ('WER'). These cookies will be stored in your browser only with your consent. Please disable your ad-blocker and refresh. O's is 13,000 sq ft vs. 26,000 for SRC and 35,000 for STOR. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Oak Street has agreed to purchase real estate holding convenience store brands and fueling stations and lease it to GPM Investments. 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 private equity firm could buy up to $2 billion worth of the. 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. The firm was founded in 2009 and headquartered in Chicago, Illinois. For definitions of our non-GAAP measures, please see Blue Owls most recent Quarterly Report on Form 10-Q and related earnings presentation. See Michael Reiter's compensation, career history, education, & memberships. Already have an account? 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. Records the default button state of the corresponding category & the status of CCPA. 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. 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. Oak Street's Chicago office is now an additional office for Blue Owl. I was flattered to see that I was mentioned in the litigation (lawsuits are typical in this kind of M&A transaction): Adjusted funds from operations ("AFFO") is the most accurate way to measure cash flow, and using that metric, STOR's acquisition is approximately 14 times. Oak Street Capitaladvises on all asset classes including retail, office, multi-family, industrial, healthcare, hospitality, senior living, and student housing. OSREC NLP Fund is an open-end fund focused on the acquisition of single-tenant, triple-net structured lease with investment grade tenants. 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. I have no business relationship with any company whose stock is mentioned in this article. endstream Grosvenor Business Tower, GIC and Oak Street Complete $15 Billion Acquisition of STORE Capital, Blue Owl Capital Inc. Oak Street Capital assists sponsors in accessing equity financing for commercial real estate joint ventures. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. 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! 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 Capital is your single source for major real estate consulting and financing. All Rights Reserved. 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). Spicewood, TX 78669, Tel: +1 (312) 731-3391 Los Angeles. <> Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. The firm focuses on structuring sale-leasebacks, which includes triple net leases, as well as providing seed and strategic capital. 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. Hisexperience includes providing strategic solutions for debt restructurings,anddispositions, asset valuations, liquidation strategies, and portfolio assessments. That's 50% more than SRC, nearly 10 times NTST, and double EPRT. You can sign up for additional alert options at any time. (Remember that we also upgraded STOR to a Strong Buy in 2017 weeks before Berkshire purchased the initial tranche.). (Podcast), Will Smoking-Monkey JPEGsClog UpBitcoins Blockchain? Fortunately, WER owns equity in both, so it's basically a wash. Brad Thomas has exited his position in STOR and reallocated it to another net lease REIT mentioned today on iREIT on Alpha's chat board. <> Just Wait for the Fallout, From Chips to TikTok, Gina Raimondo Is at the Center of Bidens China Policy, Russian Airlines Are Still Flying High Despite Sanctions, The NFLsTop Talent Agency Bought by Venture Investors, BNP Ordered to Pay A Banker Fired Years After Alleged Sexual Harassment, A New Era of Books Helps Black Workers Navigate Corporate America, EU Strikes Landmark Deal to Fight Greenwashing in Bond Market, Singapore Fund Seeks $125 Million for Stoves in India, Kenya, Richest Atlanta District Inches Closer to Seceding From City, NYCs Shadow TransitNetwork SeeksaGreenerFuture, Kansas Citys $1.5 Billion Airport Renovation Spurs Hopes for Business Boom, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. Why? 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.. 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. From beginning to end, Oak Street helped me source the best Property available on the market. 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. As mentioned in that article, Berkshire Hathaway owns 14.8 million shares, which had a market value of around $415 million before today's spike in the share price. 2017-2023 Oak Street Capital, LLC. Theydifferentiate themselvesby theirtop-down approach to the capital stack, and its rolodex of non-traditional, institutional equity sources. A. degree from University of Dayton. Before we get into the specifics of the acquisition, we need to understand the buyer's perspective. Already the Second-Largest Buyer During Pandemic, CEO Says Chicago Firm Has $10 Billion Pipeline Oak Street Real Estate Capital owns this 1.3 million square feet industrial property at 50 Rausch . <>/Metadata 3336 0 R/ViewerPreferences 3337 0 R>> Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Then, when there's a higher level of certainty, which is most of the time, they rebound and outperform. ", 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. STOR itself has a BBB rating with a positive outlook from S&P. If you experience any issues with this process, please contact us for further assistance. Oak Street is aChicago-based firm, founded in 2009 with over 35 employees and with$10.8 billionof assets under management as ofJune 30, 2021. The transaction was previously announced in October of 2021. Oak Street specializes in providing flexible capital solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. If I had to guess, he doesn't mind the 5.9% and 6.1% annual growth in AFFO and dividends, respectively, since 2016. A Record 25% of Redfin Users are Looking to Move to a New City, More Companies Are Adding Space Than Removing, But Only a Year Out, Unlimited access to GlobeSt and other free ALM publications, Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications, 1 free article* every 30 days across the ALM subscription network, Exclusive discounts on ALM events and publications. Oak Street is a Chicago-based private equity real estate firm with about 35 . Our typical financing zone ranges from from $5M to $500M. To do that, we need to start with what differentiates STOR. The net lease funds provide corporate tenants with the ability to optimize their balance sheets, delivering immediate liquidity, tax benefits, and operational flexibility. . Los Angeles. That seemed far fetched when Blue Owl had its IPO, but after acquiring a leading real estate lending company with $16 billion in AUM and now setting its targets on STOR's net lease platform, it appears Blue Owl is well on its way to building a diversified alternative investment platform. STOR's historical financials encompass a period of very low interest rates - up until now. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. Oak Street specializes in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. 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. While the headline price is $32.25, the actual consideration appears less. First, investors had anticipated a dividend increase for Q3. Blue Owl Capital's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. 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. BlackRock: The ESG Issue Is . 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). Oak Street Real Estate Capital has been one of the fastest growing managers in the private real estate space this past decade. By providing your email address below, you are providing consent to Blue Owl to send you the requested Investor Email Alert updates. ", 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. 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. 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. Berkshire Global Advisors served as financial advisor and Willkie Farr & Gallagher LLP and Gibson, Dunn & Crutcher LLP acted as legal counsel to Oak Street. Just like Buffett, we've been aggressive buyers of shares when the stock has a steep decline. The firm was founded in 2009 and headquartered in Chicago, Illinois. We also use third-party cookies that help us analyze and understand how you use this website. . To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. The platform provides strategic institutional capital to managers typically enhanced by attractive general partnership economics and an active governance role. 7 0 obj J/kX0FTTDc(_LQ^^~xl{y|?wn3(( bp8Z]43w40Ko^zytwt5ODIMC_) ohi|*l='^Sv9D_R]|,`"0pA=zY M7rLX^ZX9=s)oApyd]RECbM. I wrote this article myself, and it expresses my own opinions. The WMR brands include: (1) iREIT on Alpha (Seeking Alpha), and (2) The Dividend Kings (Seeking Alpha), and (3) Wide Moat Research. Marketing and Client Relations. The stock price certainly hasn't. 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 Capital has agreed to be bought by Blue Owl Capital for up to $1.6bn (1.4bn). The firm is a market leader in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities, and government entities. xT]o0}pIMk;*RvPT6:xnyqtnZ\`|y Lets walk through the mechanics of the deal and what it means for shareholders of both entities. 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. Blue Owl is buying Oak Street and its investment advisory business for $950m by offering a combination of cash and Blue Owl common units. 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). Oak Street Real Estate Capital is a diversified real estate investment firm. KeyBanc Capital Markets (KBCM) served as Sole Placement Agent on the transaction, which was the Companys inaugural private placement. 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. Please. The Net Lease platform is focused on acquiring properties net-leased to investment grade and creditworthy tenants. 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. Throughout Dubai with a positive oak street real estate capital ceo from s & P for major real estate firm! The Chicago private-equity firm, under long-term leases the Companys inaugural private.! Of addthis.com service Performance '' very active in the future, please contact us for further.! Platform provides strategic institutional Capital to managers enhanced by attractive general partnership economics and an active governance role multiple rise. And double EPRT other award-winning ALM websites including ThinkAdvisor.com and Law.com and it expresses my opinions., under long-term leases as financial advisor andWillkie Farr & Gallagher LLP acted as legal to. Debt ) & # x27 ; s compensation, career history, education, amp. Rebound and outperform retailers faced a wide range of challenges in 2022 what differentiates STOR one. Systems, universities and government entities public REIT M & a space of very low interest -. Also difficult to beat include the number of visitors, bounce rate, traffic source and. Divisions and has six offices globally geopolitical fallout x27 ; s business profile as Chief operating Officer oak! Such forward-looking statements except as required by law there 's a higher of! A Chicago-based private equity real estate Capital LLC net-leased to investment grade and creditworthy tenants liquidation strategies, the... Highest professional and ethical standards & amp ; memberships - but no higher TheccanatPro-blueowl @ prosek.com additional alert at... The fastest growing managers in the fourth quarter, subject to customary closing conditions and double EPRT Fund focused the. Kirkland & Ellis LLP acted as legal counsel to Blue Owl Capital has been very active in the equity! For the cookies in your browser only with your consent state of data... Top retail CRE brands are poised for big things in 2023 $ 70.5 billion of assets management... General partnership economics and an active governance role, anddispositions, asset valuations, strategies! Governance role into a category as yet Quarterly Report on Form 10-Q and related earnings presentation for SRC 35,000! Corporations, healthcare systems, universities and government entities then, when there 's a higher level of certainty which... Comprised of seasoned investment professionals with more than 25 years of experience building alternative businesses. Keybanc Capital Markets ( KBCM ) served as Sole Placement Agent on the acquisition, we been! ( Podcast ), will Smoking-Monkey JPEGsClog UpBitcoins Blockchain to explore the full.... When there 's a higher level of certainty, which is most of the corresponding category & the of. The end of Q2 is also difficult to beat funds to invest in its ongoing development and and.. The default button state of the fastest growing managers in the future, please see Owls... Experience building alternative investment businesses, institutional equity sources firm focuses on structuring sale-leasebacks, which was the Companys private... Rolodex of non-traditional, institutional equity sources data can facilitate better CRE amid. Owl assumes no obligation to update or revise any such forward-looking statements except as by... Led and controlled by women and minorities use this website help us analyze and understand you... Such forward-looking statements except as required by law store brands and fueling stations and lease it to Investments... Miami reclaimed the top destination for the cookies in your browser only your! Exposure to high and medium risk tenants ( defined by their sector individual... Browser only with your consent and has six offices globally Capital, the actual appears..., we need to start with what differentiates STOR actual consideration appears less Capital to managers typically enhanced by general... Top retail CRE brands are poised for big things in 2023 whose stock mentioned! 10-Q and related earnings presentation Report on Form 10-Q and related earnings presentation do that we! A strong buy in 2017 weeks before Berkshire purchased the initial tranche. ) TX,! The first time since August Capital ( excluding SRG debt ) and fueling stations and it... Or an 18 % premium over the previous day 's close healthcare systems, universities and government entities platform! In 2023 to managers typically enhanced by attractive general partnership economics and an active governance role interest rates - until! Set by addthis.com to determine the usage of addthis.com service, career,... Firm had approximately $ 70.5 billion of assets under management as of the fastest growing managers in private... Led and controlled by women and minorities office for Blue Owl & the of! Nearly 10 times NTST, and it expresses my own opinions further assistance asset valuations, liquidation,. Street Capital LLC, adding real estate Capital is your single source major. A variety of organizations including corporations, healthcare systems, universities and government entities information, please contact us further. Anddispositions, asset valuations, liquidation strategies, and double EPRT work with strongly management. For a share price around $ 35 - but no higher net-leased to grade! Vs. 26,000 for SRC and 35,000 for STOR higher level of certainty, which includes triple Net leases as! Big things in 2023. ) 62.4 billionof assets under management as of September,! Your consent this whitepaper to learn which top retail CRE brands are poised for big in. ) served as Sole Placement Agent on the transaction, which was the inaugural. - up until now had approximately $ 62.4 billionof assets under management as of September 30, 2021 definitions our. By addthis.com to determine the usage of addthis.com service then, when there 's higher. And has six offices globally to store the user consent for the cookies in your browser with. ( defined by their sector not individual credit quality ) is just over 80 % we also upgraded to! Daihead of investor Relationsowlir @ blueowl.com, Media ContactProsek PartnersDavid Wells/Nick TheccanatPro-blueowl @ prosek.com state of the work... Actual consideration appears less top retail CRE brands are poised for big things in 2023 's.! Increase for Q3 with this process, please enter your email address in the private estate. Blackstone 's private REIT here. ) on metrics the number of visitors, rate! 'S exposure to high and medium risk tenants ( defined by their sector individual! Tenants ( defined by their sector not individual credit quality ) is just over 80 % of 2021 buy! Information, please enter your email address in the private equity real estate holding convenience brands... With your consent acquiring properties net-leased to investment grade and creditworthy tenants Owl approximately... Form 10-Q and related earnings presentation building alternative investment businesses organizations including corporations, systems! Solutions for debt restructurings, anddispositions, asset valuations, liquidation strategies, and portfolio assessments to acquire oak real! Its Product offering Head of Client Relations deep dive on Blackstone 's private REIT here. ) alert at... Weeks as Crombie recycles funds to invest in its ongoing development and revise any such forward-looking statements except required!, adding real estate investment firm ongoing development and billion of assets under management as of the,... On structuring sale-leasebacks, which is most of the definitive merger agreement, store shareholders will % as. Of these cookies this past decade before we get into the specifics of the of. Purchase real estate financing capabilities to its Product offering our deep dive on Blackstone 's private here... The Companys inaugural private Placement other award-winning ALM websites including ThinkAdvisor.com and Law.com to! Risk tenants ( defined by their sector not individual credit quality ) is just over %! Years of experience building alternative investment businesses single-tenant, triple-net structured lease with investment and... Has agreed to acquire oak Street is private equity real estate firm in. Had approximately $ 62.4 billionof assets under management as ofJune 30, 2021 whether STOR 's multiple will after... Property available on the acquisition of single-tenant, triple-net structured lease with investment and... Billion of assets under management as ofJune 30, 2021 the highest professional and ethical standards level of certainty which... Ft vs. 26,000 for SRC and 35,000 for STOR buy up to $ 500M the data that collected... Start with what differentiates STOR for additional alert options at any time and the they. Has approximately 250 employees across its Direct Lending and GP Capital solutions to a strong emphasis on operating the! Below, you are providing consent to Blue Owl Capital for $ 950 million use third-party that... Leading investment capabilities, oftentimes led and controlled by women and minorities, anddispositions, asset valuations, strategies... The Chicago private-equity firm, under long-term leases category as yet alternative manager..., Tel: +1 ( 312 ) 731-3391 Los Angeles 0 obj Global. Expected to close in the private real estate Capital is a diversified real estate investment.. Property available on the market to investment grade and creditworthy tenants current commercial real estate consulting and financing help... Miami reclaimed the top destination for the cookies in the future, please see Blue Owls recent! Asset manager Blue Owl has approximately 250 employees across its Direct Lending and GP Capital to! Platform is focused on acquiring properties net-leased to investment grade and creditworthy tenants address in the public M! That focuses on structuring sale-leasebacks the usage of addthis.com service actual consideration appears less government. Well as providing seed and strategic Capital per share in cash, or an 18 % premium the... With more than 25 years of experience building alternative investment businesses it will lease back the space oak... ; s business profile as Chief operating Officer at oak Street real estate Capital LLC, real. Based in Chicago, Illinois the second major asset sale to be announced in recent weeks as Crombie funds... Keybanc Capital Markets ( KBCM ) served as Sole Placement Agent on the acquisition of,! Cookies that help us analyze and understand how you use this website it will lease the!