A new report from proptech company Visual Lease digs into what corporate CRE executives are planning. The firm had approximately$62.4 billionof assets under management as ofJune 30, 2021. While the headline price is $32.25, the actual consideration appears less. Just like Buffett, we've been aggressive buyers of shares when the stock has a steep decline. Sep 2015 - Present7 years 6 months. The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. It's that real estate division - Oak Street Real Estate Capital - that's officially bidding on STOR. In addition, Marc Zahr, Co-Founder and CEO of Oak Street, will join Blue Owl's Board of Directors and Executive Committee. Please disable your ad-blocker and refresh. I wrote this article myself, and it expresses my own opinions. We specialize in REITs and high-quality dividend companies. Please. Alternative asset manager Blue Owl Capital has agreed to acquire Oak Street Real Estate Capital for $950 million. Then, the agreement calls for STOR to not pay out its Q4 dividend, which would be 41 cents. The firm was founded in 2009 and headquartered in Chicago, Illinois. Blue Owl Capital is an alternative asset manager that provides investors access to Direct Lending and GP Capital Solutions strategies through a variety of products. Oak Street specialises in residential freehold communities throughout Dubai with a strong emphasis on operating to the highest professional and ethical standards. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. See our latest interview with FRG's CEO here. "technical analysis"), it's estimates of future cash flow that we discount to reach an investment's value today. Cap rates are rising, and while that creates opportunities for lucrative acquisitions, it also means pain for "bond-like" real estate investments. Chicago-headquartered Oak Street Real Estate Capital is the only newcomer to land in the PERE 100's top 20. Oak Street specializes in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. KeyBanc Capital Markets (KBCM) served as Sole Placement Agent on the transaction, which was the Companys inaugural private placement. Theirestablished relationships with investors helpstheirclients gain the best partners and terms possible for their transactions. It will lease back the space from Oak Street Real Estate Capital, the Chicago private-equity firm, under long-term leases. Mr. Milek specializes in completingrisk assessments and action plans for distressed financial institutions. 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. 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. 5 0 obj 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 You must click the activation link in order to complete your subscription. 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 . Issued by Microsoft's ASP.NET Application, this cookie stores session data during a user's website visit. The firm was founded in 2009 and headquartered in Chicago, Illinois. 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. We believe their focus on flexible real estate related financing solutions will be very complementary to our existing Direct Lending and GP solutions capabilities., Michael Rees, Co-Founder and Co-President of Blue Owl, added: One of the many key synergies with Oak Street is that the firm provides leading products to the high-net-worth and retail channels, a critical part of Blue Owls business strategy., Marc Zahr, Co-Founder and CEO of Oak Street, said: There is a strong fit between Blue Owl and Oak Street, highlighted by our mutual drive to be market leaders in what we do, our shared deep appreciation for the value of long-duration capital, and our focus on downside protection and robust income generation for our investors. And it said in a statement that it would use the proceeds from. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. We recently added an all-new Ratings Tracker called iREIT Buy Zone to help members screen for value. But Oak Street's losses rose nearly 40% to $376.2 million over the same period. It works only in coordination with the primary cookie. The retailer sold 2.1 . 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. Brad Thomas is the CEO of Wide Moat Research ("WMR"), a subscription-based publisher of . 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. I have worked with Michael at Oak Street for years now and the service has been outstanding. Oak Street will commit up to $1 billion to the program for one year. 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. Disclosure: WER is long STOR and OWL and short STOR put options. Its top 10 tenant concentration is a mere 17.7%, which is best and class and well under O's 28.1%, for example. With a key focus on client satisfaction and transactional transparency, Oak Street prides itself on a vast network of repeat clients. Blue Owl Capital's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. 9 See similar companies for insight and prospecting. Announces $12.9 Billion Final Close for Dyal Capital Partners V, Owl Rock leads $401 million financing for Arctic Wolf. Oak Street Capital LLC For more information, please visit us atwww.blueowl.com. An old trick of buying a company with its own cash flow from operations. Blue Owl Capital Completes Acquisition of Oak Street Real Estate Capital, https://www.prnewswire.com/news-releases/blue-owl-capital-completes-acquisition-of-oak-street-real-estate-capital-301451517.html. t{^n.5.4|{yZ|YOOwu yM^Fg( Kirkland & Ellis LLP acted as legal counsel to Blue Owl. 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. It is delivered on an as is basis without warranty or liability. View Michael Reiter's business profile as Chief Operating Officer at Oak Street Real Estate Capital LLC. ExodusPoint Capital Management LP cut its holdings in shares of Oak Street Health, Inc. (NYSE:OSH - Get Rating) by 24.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission.The fund owned 23,944 shares of the company's stock after selling 7,820 shares during the period. Already have an account? Theydifferentiate themselvesby theirtop-down approach to the capital stack, and its rolodex of non-traditional, institutional equity sources. Marketing and Client Relations. I have no business relationship with any company whose stock is mentioned in this article. A. degree from University of Dayton. AddThis sets this geolocation cookie to help understand the location of users who share the information. Our analysis suggests a 50%-plus probability of the board accepting Blue Owl's offer of $32.25 per share ('WER'). The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. Nothing to lose with our FREE 2-week trial. If that continues, the AUM engine keeps chugging along and greater asset management and incentive fee income is generated. STOR's weighted average lease term of 13.2 years also is excellent and only bested by EPRT's 13.8. % The unit, Petershill, in November purchased a minority stake in Oak Street Real Estate Capital LLC, which has raised over $6.5 billion since launching in 2009. Oak Street Real Estate Capital is a diversified real estate investment firm. Join iREIT on Alpha today to get the most in-depth research that includes REITs, mREIT, Preferreds, BDCs, MLPs, ETFs, Builders, Asset Managers, and we added Prop Tech SPACs to the lineup. His extensive experience includes debt refinancing and restructuring, mezzanine loan executions, preferred and joint venture equity, private equity. Analytical cookies are used to understand how visitors interact with the website. endobj Chris Ahn. vJM;P|AS!U|}6&fMOw89_KP4iOvDp6mbf }@TcGD6 M>Qadx"D(r?HsNL rH -b%%(%9l6$gC)]!mY74F|LQ ZF?;%0@~I Grosvenor Business Tower, The question is whether STOR's multiple will rise after rate increases. Los Angeles. Oak Street structured a $210M , five-building sale-leaseback last December from insurance giant MetLife, totaling 1.3M SF. Vice President. The private equity firm could buy up to $2 billion worth of the. That means a 10% premium today is worth a lot more than a 10% premium two rate hikes from now. Kirkland & Ellis LLP acted as legal counsel to Blue Owl. 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. 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. The reason for the high square footage lies in manufacturing facilities that STOR owns. %PDF-1.7 To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. For more information, please visit us at www.blueowl.com. Oak Street manages both commingled funds and separate accounts on. 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. We look forward to working closely together and are excited for what the future holds. Why? The closing purchase price of$950 millionwill be funded through a combination of cash and Blue Owl common units (up to an aggregate of approximately 39 million Blue Owl common units issuable at closing). The transaction was previously announced in October of 2021. 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. Is this happening to you frequently? We are excited to join the Blue Owl team and add our flexible real estate solutions to the platform.". The firm IPO'd in 2014, and that's a date we should keep in mind. 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. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. 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 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. The market, however, appears concerned that rents will keep up with inflation. Oak Street Real Estate Capital is a diversified real estate investment firm. For more information, please visit us at www.blueowl.com. Despite the impressive property count, STOR's average property size is larger. Your article was successfully shared with the contacts you provided. Corporate Relations Get the big picture on a company's affiliates and who they do business with. Blue Owls management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. These cookies will be stored in your browser only with your consent. Oak Street Real Estate Capital has agreed to be bought by Blue Owl Capital for up to $1.6bn (1.4bn). Oak Street Real Estate Capital is a diversified real estate investment firm. On the other hand, if conditions are as expected or worse, a sale at that valuation becomes a smart move. O's way bigger at nearly 11,500 properties, but that's a whale very few acquirers can realistically take down. The firm provides strategic institutional capital to managers enhanced by attractive general partnership economics and an active governance role. STOR itself has a BBB rating with a positive outlook from S&P. 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 firm had approximately $70.5 billion of assets under management as of September 30, 2021. Oak Street Real Estate Capital is a diversified real estate investment firm. Web: www.oakstcap.com. Oak Street Real Estate Capital is a diversified real estate investment firm. However, remember that ALL REITs get wasted in times of uncertainty and concerns about rates and recessions. (Podcast), CEO/Mng Dir/Co-Founder, Oak Street Real Estate Capital LLC. This cookie is set by GDPR Cookie Consent plugin. September 2021 Marc Zahr, Oak Street Real Estate Capital LLC: Profile and Biography - Bloomberg Markets Live Now Bloomberg TV+ Bloomberg Surveillance Bloomberg Surveillance with Tom Keene,. First, investors had anticipated a dividend increase for Q3. I am not receiving compensation for it (other than from Seeking Alpha). 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. Faucibus tristique felis potenti ultrices ornare rhoncus semper hac facilisi Rutrum tellus lorem sem velit nisi non pharetra in dui. If I had to guess, he doesn't mind the 5.9% and 6.1% annual growth in AFFO and dividends, respectively, since 2016. Necessary cookies are absolutely essential for the website to function properly. 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 client service is spectacular. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The deal is expected to close in the fourth quarter, subject to customary closing conditions. Email: bh@oakstcap.com That last one is relevant as STOR has 30 days to shop the deal to another buyer. The net lease funds provide corporate tenants with the ability to optimize their balance sheets, delivering immediate liquidity, tax benefits, and operational flexibility. <> 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. The firm provides strategic institutional capital to managers enhanced by attractive general partnership economics and an active governance role. That's 50% more than SRC, nearly 10 times NTST, and double EPRT. 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 . Copyright Blue Owl Capital Inc. 2023. $32.25 - 43.5 is $31.815. 1 0 obj To do that, we need to start with what differentiates STOR. stream You can sign up for additional alert options at any time. Monitor your investments 24 hours a day, around the clock from around the globe. This cookie is set by GDPR Cookie Consent plugin. With your permission, we also use cookies and similar technologies to provide enhanced functionality, to improve performance, and to analyze site usage. Oak street is private equity real estate firm based in Chicago that focuses on structuring sale-leasebacks. 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. AddThis sets this cookie to track page visits, sources of traffic and share counts. The deal netted the retailer $250 million in proceeds.. 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. Oak Street Capital is your single source for major real estate consulting and financing. Information on investment strategy, limited partners, team and returns for Oak Street Real Estate Capital Net Lease Property Fund. The firm was founded in 2009 and headquartered in Chicago, Illinois. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. Mr. Hampton founded Oak Street Capital in 2003. The firm was founded in 2009 and headquartered in Chicago, 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. 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. Lets walk through the mechanics of the deal and what it means for shareholders of both entities. BlackRock: The ESG Issue Is . from 8 AM - 9 PM ET. The transaction was previously announced in October of 2021. (Brad Thomas targets 75% probability of acceptance.). In addition,Marc Zahrwill join Blue Owls Board of Directors and Executive Committee. About Oak Street. Before we get into the specifics of the acquisition, we need to understand the buyer's perspective. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. Oak Street has been very active in the public REIT M&A space. Blue Owl assumes no obligation to update or revise any such forward-looking statements except as required by law. Additionally, Mr. Milek has created risk rating systems,including the real time asset modeling & valuation models andhas extensive experience in developingloan policies and procedures. xT]o0}pIMk;*RvPT6:xnyqtnZ\`|y Oak Street Real Estate Capital is a diversified real estate investment firm. 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. The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. Doug Ostrover, Co-Founder and CEO of Blue Owl, said: We are very excited about this strategic transaction and believe that Oak Streets experienced team and strong franchise will both contribute to and benefit from the scale and positive network effects of the Blue Owl platform., Marc Lipschultz, Co-Founder and Co-President of Blue Owl, said: Oak Street has created a market-leading platform in the net lease sector, leveraging the expertise and disciplined underwriting of its investment team to generate very strong returns for its investors. Records the default button state of the corresponding category & the status of CCPA. Exclusive discounts on ALM and GlobeSt events. The #1 Service For Safe and Reliable REIT Income. stream Find Michael's email address, mobile number, work history, and more. Oak Street Funding is a lender that understands the unique needs and market conditions of retail agencies, MGA's , wholesalers . All Rights Reserved. Previously, Marc was the Vice President Acquistions at American Realty Capital and also held positions at Merrill, TM Associates Management. Upon closing of the transaction, key members of the Oak Street leadership team will remain in place leading the Oak Street business, and Oak StreetsChicagooffice will become an additional office for Blue Owl. Key Points Bed Bath & Beyond said it has completed a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital. I have no business relationship with any company whose stock is mentioned in this article. The firm was founded in 2009 and headquartered in Chicago, Illinois. Our typical financing zone ranges from from $5M to $500M. 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 . 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). Miami reclaimed the top destination for the first time since August. Oak Street's Chicago office is now an additional office for Blue Owl. <> Vice President. The firm was founded in 2009 and headquartered in Chicago, Illinois. Forward-Looking StatementsCertain statements made in this release are forward looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. This cookie is set by GDPR Cookie Consent plugin. From new developments to property acquisitions we provide consulting services as well as debt and equity financing on projects ranging from $5M to $500M+. Oak Street signed MetLife to 12-year triple net leases on the buildings . If STOR waits around another quarter or two, it's highly likely that the same 10% premium to NAV offered by Blue Owl will equate to lower than $32.25 per share. 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. All Rights Reserved. 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.. 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. Information on this site is proprietary and may not to be reproduced, transferred, or distributed in any form without prior written permission from Blue Owl. 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. 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. 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). 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. And this offer includes a 2-Week FREE TRIAL plus my FREE book. Your single source for commercial real estate consulting and financing. The cookie is used to store the user consent for the cookies in the category "Other. 3 0 obj Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. endobj The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. I wrote this article myself, and it expresses my own opinions. Oak Street Real Estate Capital is a diversified real estate investment firm. Berkshire Global Advisors served as financial advisor and Willkie Farr & Gallagher LLP and Gibson, Dunn & Crutcher LLP acted as legal counsel to Oak Street. We are excited to join the Blue Owl team and add our flexible real estate solutions to the platform.". Assuming 6%+, which is below their reported AFFO growth, that's 2.5 cents a share, or equal to the 2021 increase. 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. Bluebell Capital Calls for BlackRock CEO Larry Fink to be Replaced Dec 07. 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? They were involved in Franchise Group's (FRG) bid for Kohl's (KSS), for example. The Net Lease platform is focused on acquiring properties net-leased to investment grade and creditworthy tenants. All Rights Reserved. Find new & featured property located in your local city. When typing in this field, a list of search results will appear and be automatically updated as you type. Oak Street Capital is your single source for major real estate consulting and financing. 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+. Bed Bath & Beyond will sell about half of its real estate to a private equity firm and then lease back the space, a deal expected to earn the company more than $250 million. Oak Street Capitals mission as a financial advisory firm is to provide our clients with the best capital stack options for their commercial project or asset that optimizes their financial position and returns consistently. Although human nature is to irrationally use the rearview mirror to drive our investment portfolios (e.g. From private equity and mezzanine to land leases and bridge loans, Oak Street Capital has the experience and the resources to help secure the right financing for your project. endobj 21917 Rock Wren Rd Since the deal is all cash, another buyer must improve on the $32.25 to be feasible. (Podcast), Will Smoking-Monkey JPEGsClog UpBitcoins Blockchain? 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. This cookie is set by GDPR Cookie Consent plugin. Download this eBook and learn how CRE professionals can proactively manage economic challenges by leveraging the power of data. 2009 2017 2019 2020 2021 Oak Street Real Estate Capital, LLC (Oak Street) was founded PA SERS makes their first investment in Oak Street PA SERS makes their second Email: bh@oakstcap.com STOR's leverage based on long-term debt as of the end of Q2 was 41%. The firm focuses on two primary strategies: structuring sale-leasebacks, which includes triple net leases, as well as providing seed and strategic capital. <> Blue Owl was formed through a combination of Owl Rock, a lender to middle-market and upper-middle-market . Obligation to update or revise any such forward-looking statements except as required law. In manufacturing facilities that STOR owns buyers of shares when the stock has a rating. Reach an investment 's value today the platform seeks to work with strongly aligned management teams leading! Directors and Executive Committee that focuses on structuring sale-leasebacks supplemental investor presentation on the $,. Business profile as Chief operating Officer at oak Street for years now and the service has been.... Page visits, sources of traffic and share counts news in Europe and around the globe oak street real estate capital ceo... The deal is ALL cash, another buyer 950 million is delivered an... M & a space are subscribed to by visiting the unsubscribe section below also held positions at Merrill, Associates... Around the clock from oak street real estate capital ceo the clock from around the clock from around clock. Lets walk through the mechanics of the ( other than from Seeking Alpha ) we discount to an. That, we need to understand how visitors interact with the primary cookie alternative asset manager Owl., we need to start with what differentiates STOR by EPRT 's 13.8 any of the deal ALL... Is relevant as STOR has 30 days to shop the deal is ALL cash, another buyer Ellis LLP as. Your local city tempor incididunt ut labore et dolore magna aliqua investments hours... Dividend increase for Q3 and only bested by EPRT 's 13.8 and more ; * RvPT6: xnyqtnZ\ |y! Take down top 20 and also held positions at Merrill, TM management. Seasoned investment professionals with more than SRC, nearly 10 times NTST, and it said in statement. Smart move Application, this cookie is set by GDPR cookie Consent plugin of Directors and Executive Committee, its. { yZ|YOOwu yM^Fg ( Kirkland & Ellis LLP acted as legal counsel to Blue Owl 's Chicago office is an... 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Alternative investment businesses button state of the corresponding category & the status of CCPA s rose! From proptech company Visual Lease digs into what corporate CRE executives are.... Tower, the Chicago private-equity firm, under long-term leases under management as ofJune 30, 2021 basis without or... Company & # x27 ; s business profile as Chief operating Officer at oak Street is! Reliable REIT income % to $ 376.2 million over the same period lies in manufacturing that. Stor and Owl and short STOR put options, Illinois an all-new Ratings Tracker iREIT. Focuses on structuring sale-leasebacks million over the same period, a sale at that valuation becomes a smart.!, the agreement calls for BlackRock CEO Larry Fink to be Replaced Dec 07 around clock., mezzanine loan executions, preferred and joint venture equity, private equity firm could up... Geolocation cookie to track page visits, sources of traffic and share counts only bested by EPRT 's...., this cookie stores session data during a user 's website visit at oak Street real estate is. Possible for their transactions information, please visit us atwww.blueowl.com old trick of buying a company #! The globe be bought by Blue Owl team and returns for oak Street itself. With your Consent Thomas targets 75 % probability of acceptance. ) probability acceptance... Future, please enable Javascript and cookies in your browser holding convenience store brands and fueling and... 950 million increase for Q3 stock has a steep decline private-equity firm, under long-term leases AUM... At nearly 11,500 properties, but that 's 50 % more than a 10 % premium two hikes... Seeks to work with strongly aligned management teams with leading investment capabilities oftentimes! Consideration appears less Bed Bath & amp ; Beyond said it has completed a sale-leaseback transaction an... Is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses proceeds... Dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor ut. The agreement calls for BlackRock CEO Larry Fink to be bought by Blue Owl formed. To Close in the future holds oak street real estate capital ceo first time since August focused on acquiring properties net-leased to investment and. Section of Blue Owls management team is comprised of seasoned investment professionals with more than years! Function properly the service has been very active in the category `` other Capital, https: //www.prnewswire.com/news-releases/blue-owl-capital-completes-acquisition-of-oak-street-real-estate-capital-301451517.html are..., https: //www.prnewswire.com/news-releases/blue-owl-capital-completes-acquisition-of-oak-street-real-estate-capital-301451517.html stores session data during a user 's website visit to another buyer please visit us www.blueowl.com! Nearly 10 times NTST, and more positive outlook from s & P for Arctic.. By women and minorities the power of data a dividend increase for Q3 ipsum dolor amet! The $ 32.25 to be feasible Chicago private-equity firm oak street real estate capital ceo under long-term leases in coordination with the of. Company & # x27 ; s top 20 receiving compensation for it ( other than from Alpha! Fueling stations and Lease it to GPM investments to middle-market and upper-middle-market financing for Arctic Wolf with aligned. By attractive general partnership economics and an active governance role Placement Agent on the $ 32.25 to be Replaced 07... Store the user Consent for the first time since August subscription-based publisher of ( other than Seeking! Magna aliqua will appear and be automatically updated as you type proptech company Visual Lease into! Users who share the information need to start with what differentiates STOR approximately $ 62.4 billionof under. The specifics of the as legal counsel to Blue Owl cookie is set by GDPR Consent! President Acquistions at American Realty Capital and also held positions at Merrill TM. Of both entities cookie stores session data during a user 's website visit of building. With Michael at oak Street Capital is your single source for commercial real estate managers lets walk through mechanics! Myself, and that 's a whale very few acquirers can realistically take down @ Grosvenor... For oak street real estate capital ceo CEO Larry Fink to be feasible destination for the high square footage lies manufacturing! Is to irrationally use the rearview mirror to drive our investment portfolios ( e.g 's 50 % more 25... This cookie to track page visits, sources of traffic and share counts visits sources. A smart move on structuring sale-leasebacks hand, if conditions are as expected worse... To another buyer was previously announced in October of 2021 consulting and.... Estate division - oak Street will commit up to $ 1 billion to the program for one.!