For more information, please visit us atwww.blueowl.com. Our typical financing zone ranges from from $5M to $500M. The firm was founded in 2009 and headquartered in Chicago, Illinois. <>
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 . We are excited to join the Blue Owl team and add our flexible real estate solutions to the platform.". The deal netted the retailer $250 million in proceeds.. stream
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. *May exclude premium content 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. I have worked with Michael at Oak Street for years now and the service has been outstanding. Oak Street Real Estate Capital is a diversified real estate investment firm. Blue Owl Capital has over 300 employees across its Direct Lending and GP Capital Solutions divisions and has nine offices globally. 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. (Brad Thomas targets 75% probability of acceptance.). Townhouse | Five Palm | 5 Star Facilities, Custom Built | N Frond | Skyline View | Must View, Exclusive | Upgraded | Fully Furnished | VOT. 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. OSREC NLP Fund is an open-end fund focused on the acquisition of single-tenant, triple-net structured lease with investment grade tenants. 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. The transaction is expected to close in the fourth quarter of 2021 and is subject to customary closing conditions. As a shareholder, we want to know if we should take the $32.25 while the iron is hot or wait for a better price. The cookie is used to store the user consent for the cookies in the category "Performance". Its placing comes after raising a total of $6.56 billion in equity in the last five years, primarily for investment in US commercial and healthcare properties. STOR itself has a BBB rating with a positive outlook from S&P. STOR's model is primarily a single-tenant triple net lease. 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. 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. Blue Owl was formed through a combination of Owl Rock, a lender to middle-market and upper-middle-market . Blue Owl Capital's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. The market, however, appears concerned that rents will keep up with inflation. 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. The question is whether STOR's multiple will rise after rate increases. 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. 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. Oak Street specializes in providing flexible capital solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. endobj
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. 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. 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. 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. 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. Nothing to lose with our FREE 2-week trial. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. Key Points Bed Bath & Beyond said it has completed a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital. . Berkshire Global Advisors served as financial advisor and Willkie Farr & Gallagher LLP and Gibson, Dunn & Crutcher LLP acted as legal counsel to Oak Street. It works only in coordination with the primary cookie. Oak Street Real Estate Capital is a diversified real estate investment firm. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. 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. The firm provides strategic institutional capital to managers enhanced by attractive general partnership economics and an active governance role. We know the company well and have written about it many times over the years. All rights reserved. "technical analysis"), it's estimates of future cash flow that we discount to reach an investment's value today. Oak Street Capitaladvises on all asset classes including retail, office, multi-family, industrial, healthcare, hospitality, senior living, and student housing. 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. A supplemental investor presentation on the transaction is available on the Investor Resources section of Blue Owls website atwww.blueowl.com. Oak Street has agreed to purchase real estate holding convenience store brands and fueling stations and lease it to GPM Investments. Oak Street Real Estate Capital is a diversified real estate investment firm. Oak Street Capital is your single source for major real estate consulting and financing. 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 Seeding and Strategic Capital business focuses on investing in early-stage real estate managers across various industry sectors. Blue Owl Capital's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. To continue that growth, it has joined forces with a larger asset management group. DFIN was Jason Clucas on LinkedIn: GIC and Oak Street Complete $15 Billion Acquisition of STORE Capital Oak Street offers a unique. First, investors had anticipated a dividend increase for Q3. 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. 4 0 obj
With your permission, we also use cookies and similar technologies to provide enhanced functionality, to improve performance, and to analyze site usage. In addition,Marc Zahrwill join Blue Owls Board of Directors and Executive Committee. Zahr and Hennessey compare the offer to corporate sale-leaseback . Oak Street Real Estate Capital, LLC ("Oak Street") is a private equity real estate firm based in Chicago, Illinois. The transaction is anticipated to be approximately 5-7% accretive to Distributable Earnings per Share starting in 2022. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. Blue Owl is buying Oak Street and its investment advisory business for $950m by offering a combination of cash and Blue Owl common units. 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 . The reason for the high square footage lies in manufacturing facilities that STOR owns. 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. T@NY{*N 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. Oct. 18, 2021, 07:37 AM (RTTNews) - Alternative asset manager Blue Owl Capital Inc. (OWL) announced Monday a definitive merger agreement to acquire Oak Street Real Estate Capital, LLC, a. 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. Christopher Volk, a contributing author and friend of Wide Moat Research, co-founded STORE Capital (NYSE:STOR) and was the CEO up until two quarters ago (no one at Wide Moat Research has any affiliation with STORE Capital outside of owning common equity). I (Williams Equity Research) analyzed several of Owl Rock's private offerings on behalf of large institutional investors and know the management team well. We recently added an all-new Ratings Tracker called iREIT Buy Zone to help members screen for value. The firm was founded in 2009 and headquartered in Chicago, Illinois. Spicewood, TX 78669, Tel: +1 (312) 731-3391 Sep 2015 - Present7 years 6 months. The platform provides strategic institutional capital to managers typically enhanced by attractive general partnership economics and an active governance role. 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. endobj
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