Alternative asset manager Blue Owl Capital Inc. has agreed to acquire Oak Street Real Estate Capital LLC, of Chicago, and its investment advisory business for $950 million. 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). Web: www.oakstcap.com. (Again, the true price is less than $32.25 adjusting for suspended dividends.). Chris Ahn. 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. 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 WMR brands include: (1) iREIT on Alpha (Seeking Alpha), and (2) The Dividend Kings (Seeking Alpha), and (3) Wide Moat Research. This cookie is set by GDPR Cookie Consent plugin. Oak Street Real Estate managed $10.8 billion at the end of June, primarily in the sale-leaseback business. Faucibus tristique felis potenti ultrices ornare rhoncus semper hac facilisi Rutrum tellus lorem sem velit nisi non pharetra in dui. 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 . The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. 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. Los Angeles. The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. 5 0 obj . The firm had approximately $70.5 billion of assets under management as of September 30, 2021. Under the agreement, ARKO Corp.'s subsidiary GPM would. Issued by Microsoft's ASP.NET Application, this cookie stores session data during a user's website visit. Hisexperience includes providing strategic solutions for debt restructurings,anddispositions, asset valuations, liquidation strategies, and portfolio assessments. Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category . Navigating interest rate disruption: How real-time data can facilitate better CRE decisions amid volatility. Oak Street Real Estate Capital is a diversified real estate investment firm. The firm had approximately $70.5 billion of assets under management as of September 30, 2021. 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. Email: bh@oakstcap.com 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). 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. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. 21917 Rock Wren Rd Blue Owls management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business. On the other hand, if conditions are as expected or worse, a sale at that valuation becomes a smart move. 2017-2022 Oak Street Capital, LLC. With a key focus on client satisfaction and transactional transparency, Oak Street prides itself on a vast network of repeat clients. A supplemental investor presentation on the transaction is available on the Investor Resources section of Blue Owls website atwww.blueowl.com. 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.. Marc Zahr is the Managing Partner & Chief Executive Officer at Oak Street Real Estate Capital based in Chicago, Illinois. Email: bh@oakstcap.com In addition, Marc Zahr, Co-Founder and CEO of Oak Street, will join Blue Owl's Board of Directors and Executive Committee. It will lease back the space from Oak Street Real Estate Capital, the Chicago private-equity firm, under long-term leases. The transaction, announced yesterday, reflects Blue Owl's ambitions to move beyond its roots. For more information, please visit us at www.blueowl.com. 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. Mr. Milek founded Ridgewood Capital, a real estate advisory firm, in 2008. This just in. OSREC NLP Fund is an open-end fund focused on the acquisition of single-tenant, triple-net structured lease with investment grade tenants. J/kX0FTTDc(_LQ^^~xl{y|?wn3(( bp8Z]43w40Ko^zytwt5ODIMC_) ohi|*l='^Sv9D_R]|,`"0pA=zY M7rLX^ZX9=s)oApyd]RECbM. Cap rates are rising, and while that creates opportunities for lucrative acquisitions, it also means pain for "bond-like" real estate investments. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. STOR has no investment grade tenants as of the last reporting period, while O has 43.2%. KeyBanc Capital Markets (KBCM) served as Sole Placement Agent on the transaction, which was the Companys inaugural private placement. 1 0 obj Oak Street Real Estate Capital has agreed to be bought by Blue Owl Capital for up to $1.6bn (1.4bn). STOR's weighted average lease term of 13.2 years also is excellent and only bested by EPRT's 13.8. It's that real estate division - Oak Street Real Estate Capital - that's officially bidding on STOR. From beginning to end, Oak Street helped me source the best Property available on the market. AddThis sets this geolocation cookie to help understand the location of users who share the information. Key Points Bed Bath & Beyond said it has completed a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital. 9 See similar companies for insight and prospecting. If I had to guess, he doesn't mind the 5.9% and 6.1% annual growth in AFFO and dividends, respectively, since 2016. September 2021 Oaktree Capital Management is a leader among global investment managers specializing in alternative investments. At Blue Owl, we promise to treat your data with respect and will not share your information with any third party. Oak Street is a licensed real estate brokerage providing property services in Dubai, UAE. 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. Announces $12.9 Billion Final Close for Dyal Capital Partners V, Owl Rock leads $401 million financing for Arctic Wolf. Oak Street specialises in residential freehold communities throughout Dubai with a strong emphasis on operating to the highest professional and ethical standards. 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 net lease funds provide corporate tenants with the ability to optimize their balance sheets, delivering immediate liquidity, tax benefits, and operational flexibility. We specialize in REITs and high-quality dividend companies. The retailer sold 2.1 . "Illini Angels" is recruiting . Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Blue Owl Capital Inc. Fourth Quarter 2022 Results, Blue Owl Capital Inc. to Present at the Bank of America Financial Services Conference 2023. Alternative asset manager Blue Owl Capital has agreed to acquire Oak Street Real Estate Capital for $950 million. <> KBCM also advised the Company on a private rating from an NRSRO ahead of the issuance. 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/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. Exclusive discounts on ALM and GlobeSt events. If you were Blue Owl or another bidder, wouldn't you want a lower price in this market too? 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). See our latest interview with FRG's CEO here. 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. This cookie is set by GDPR Cookie Consent plugin. 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. This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector. The firms 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 transaction was previously announced in October of 2021. Oak Street Real Estate Capital is a diversified real estate investment firm. Our Mission Oak Street Real Estate Capital has been one of the fastest growing managers in the private real estate space this past decade. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. The cookie is used to store the user consent for the cookies in the category "Analytics". Oak Street Real Estate Capital is a diversified real estate investment firm. Necessary cookies are absolutely essential for the website to function properly. 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