endobj URBANA The University of Illinois' venture-capital arm is building a network of alumni investors to help grow campus-borne businesses from the ground floor. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. 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. Oak Streets active net lease funds primarily focus on single tenant properties, net leased to investment grade and creditworthy tenants, under long duration leases, providing for predictable income. Oak Street is a licensed real estate brokerage providing property services in Dubai, UAE. Spicewood, TX 78669, Tel: +1 (312) 731-3391 $32.25 - 43.5 is $31.815. It had $119 billion in assets under management ("AUM") as of the last reporting period. STOR itself has a BBB rating with a positive outlook from S&P. Think 2008 -2020. 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. 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). 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. Oak Street Real Estate Capital has agreed to be bought by Blue Owl Capital for up to $1.6bn (1.4bn). 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. Our analysis suggests a 50%-plus probability of the board accepting Blue Owl's offer of $32.25 per share ('WER'). 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. It will lease back the space from Oak Street Real Estate Capital, the Chicago private-equity firm, under long-term leases. Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. 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. That's a healthy improvement over the pre-deal's 11.8 times, but keen investors know what STOR's 5-year AFFO multiple is around 15.5 times (it's a little over 16 times since inception). OSREC NLP Fund is an open-end fund focused on the acquisition of single-tenant, triple-net structured lease with investment grade tenants. We also use third-party cookies that help us analyze and understand how you use this website. About Us Financing Areas Contact Us The deal is going through at about a 10% premium to net asset value vs. a 10% discount on Sept. 14. "Illini Angels" is recruiting . 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. 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 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. endobj The firm focuses on two primary strategies: structuring sale-leasebacks, which includes triple net leases, as well as providing seed and strategic capital. Oak Street will commit up to $1 billion to the program for one year. The reason for the high square footage lies in manufacturing facilities that STOR owns. His extensive experience includes debt refinancing and restructuring, mezzanine loan executions, preferred and joint venture equity, private equity. Oak Street Real Estate Capital is a diversified real estate investment firm. The private equity firm could buy up to $2 billion worth of the. Understandably, investors hope any premium to be on top of the long-term average cash flow multiple rather than a beaten down valuation. Under the agreement, ARKO Corp.'s subsidiary GPM would. After submitting your request, you will receive an activation email to the requested email address. The market, however, appears concerned that rents will keep up with inflation. All Rights Reserved. In addition, hehas extensive experience developing equity and mezzanine facilities across multiple product lines. The annual rent escalators built into its leases are 1.8% and considered sufficient in most environments. Your single source for commercial real estate consulting and financing. Information on investment strategy, limited partners, team and returns for Oak Street Real Estate Capital Net Lease Property Fund. All Rights Reserved. Our competitive advantages include our experienced team of investment professionals, a global platform and a unifying investment philosophy that is complemented by a set of core business principles. Chris Ahn. 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. stream Issued by Microsoft's ASP.NET Application, this cookie stores session data during a user's website visit. For more information, please visit us at www.blueowl.com. Although human nature is to irrationally use the rearview mirror to drive our investment portfolios (e.g. Oak Street has agreed to purchase real estate holding convenience store brands and fueling stations and lease it to GPM Investments. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. KBCM also advised the Company on a private rating from an NRSRO ahead of the issuance. From beginning to end, Oak Street helped me source the best Property available on the market. The cookies is used to store the user consent for the cookies in the category "Necessary". Its top 10 tenant concentration is a mere 17.7%, which is best and class and well under O's 28.1%, for example. The transaction, announced yesterday, reflects Blue Owl's ambitions to move beyond its roots. Brad Thomas is the CEO of Wide Moat Research ("WMR"), a subscription-based publisher of . April 21, 2021. 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. Oak Street Real Estate Capital is a diversified real estate investment firm. 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 Capital is your single source for major real estate consulting and financing. The platform provides strategic institutional capital to managers typically enhanced by attractive general partnership economics and an active governance role. endstream Barsha Heights. 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. The retailer sold 2.1 . 2017-2022 Oak Street Capital, LLC. Kirkland & Ellis LLP acted as legal counsel to Blue Owl. endobj Private equity firm Oak Street Real Estate Capital LLC has reportedly made a bid to acquire around $2 billion worth of property from Kohl's, Reuters reported on Friday. The question is whether STOR's multiple will rise after rate increases. Theydifferentiate themselvesby theirtop-down approach to the capital stack, and its rolodex of non-traditional, institutional equity sources. 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See our latest interview with FRG's CEO here. Kirkland & Ellis LLP acted as legal counsel to Blue Owl. <> (Podcast), Will Smoking-Monkey JPEGsClog UpBitcoins Blockchain? It's that real estate division - Oak Street Real Estate Capital - that's officially bidding on STOR. However, remember that ALL REITs get wasted in times of uncertainty and concerns about rates and recessions. With your permission, we also use cookies and similar technologies to provide enhanced functionality, to improve performance, and to analyze site usage. Oak Street manages both commingled funds and separate accounts on. Oak Street operate to the most professional standards. Vice President. <> Townhouse | Five Palm | 5 Star Facilities, Custom Built | N Frond | Skyline View | Must View, Exclusive | Upgraded | Fully Furnished | VOT. About Oaktree. 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. <>/Metadata 3336 0 R/ViewerPreferences 3337 0 R>> Oak Street Real Estate Capital, LLC (Oak Street) was founded in 2009 as a private equity real estate firm and is based in Chicago, IL. *May exclude premium content We consider NNN the closest peer and consider the price differential of these two since Volk left (April 15, 2022). The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. 3 0 obj STOR's leverage based on long-term debt as of the end of Q2 was 41%. This cookie is set by GDPR Cookie Consent plugin. All referenced data unless otherwise noted is as of December 31, 2022. I am not receiving compensation for it (other than from Seeking Alpha). Download this whitepaper to learn which top retail CRE brands are poised for big things in 2023. Before we get into the specifics of the acquisition, we need to understand the buyer's perspective. We are excited to join the Blue Owl team and add our flexible real estate solutions to the platform.". 4 0 obj Mr. Hampton has extensive experience structuring and closing construction loans and bridge loans as well. We know the company well and have written about it many times over the years. Disclosure: WER is long STOR and OWL and short STOR put options. 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 99.5% occupancy as of the end of Q2 is also difficult to beat. 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. Berkshire Global Advisors served as financial advisor andWillkie Farr& Gallagher LLP acted as legal counsel to Oak Street. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. 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 . Blue Owl was formed through a combination of Owl Rock, a lender to middle-market and upper-middle-market . Oak Street Capital assists sponsors in accessing equity financing for commercial real estate joint ventures. Lets walk through the mechanics of the deal and what it means for shareholders of both entities. Since the deal is all cash, another buyer must improve on the $32.25 to be feasible. 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. Blue Owl Capital's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. J/kX0FTTDc(_LQ^^~xl{y|?wn3(( bp8Z]43w40Ko^zytwt5ODIMC_) ohi|*l='^Sv9D_R]|,`"0pA=zY M7rLX^ZX9=s)oApyd]RECbM. 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. 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? %PDF-1.7 The cookie is used to store the user consent for the cookies in the category "Other. The products, services, information and/or materials contained within these web pages may not be available for residents of certain jurisdictions. 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. Zahr and Hennessey compare the offer to corporate sale-leaseback . Sept 15 (Reuters) - Singapore's GIC and private equity firm Oak Street, a division of Blue Owl Capital Inc (OWL.N), will buy commercial real estate investment trust Store Capital Corp (STOR.N) in . These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blue Owls control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. While the headline price is $32.25, the actual consideration appears less. That last one is relevant as STOR has 30 days to shop the deal to another buyer. Ut enim ad minim veniam. x\Te. About Oak Street. Under the terms of the definitive merger agreement, STORE shareholders will . The cookie is used to store the user consent for the cookies in the category "Performance". 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. Retailers faced a wide range of challenges in 2022. In addition,Marc Zahrwill join Blue Owls Board of Directors and Executive Committee. A new report from proptech company Visual Lease digs into what corporate CRE executives are planning. Miami reclaimed the top destination for the first time since August. It's that real estate division - Oak Street Real Estate Capital - that's officially bidding on STOR. (See our deep dive on Blackstone's private REIT here.). 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. Mr. Milek specializes in completingrisk assessments and action plans for distressed financial institutions. Well, it might, if things stabilize and investment AFFO spreads revert. Oak Street was founded in 2009 by Marc Zahr and James Hennessey. 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. 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. Email: bh@oakstcap.com STOR's credit metrics are all slightly better than the BBB+ (that's three notches into investment grade territory) peer averages. 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. Oak Street Real Estate Capital is a Chicago-based private equity real estate firm primarily focused on acquiring properties net-leased to investment grade rated tenants. Carmel, IN. As per the report, Oak . BlackRock: The ESG Issue Is . 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. 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. Again, this is not really at $32.25 as I pointed out. 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. Ultimately the market will decide whether the offer is fair, but we can perform our own analysis to see how it compares against where peers trade and STOR historically. 2017-2023 Oak Street Capital, LLC. Necessary cookies are absolutely essential for the website to function properly. Prominent historians and conservation experts explain the architectural relevance of buildings ranging from houses of worship to former colonial outposts and tenements. % . We use essential cookies to allow our site to function. Oak Street Real Estate Capital is a diversified real estate investment firm. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". 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 . Oak Street is committing up to $1 billion. 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. Oak Street offers a unique. 9 See similar companies for insight and prospecting. Faucibus tristique felis potenti ultrices ornare rhoncus semper hac facilisi Rutrum tellus lorem sem velit nisi non pharetra in dui. 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. Overnight on Wall Street is morning in Europe. Berkshire Global Advisors served as financial advisor and Willkie Farr & Gallagher LLP and Gibson, Dunn & Crutcher LLP acted as legal counsel to Oak Street. With a key focus on client satisfaction and transactional transparency, Oak Street prides itself on a vast network of repeat clients. The transaction is expected to close in the fourth quarter of 2021. At Blue Owl, we promise to treat your data with respect and will not share your information with any third party. The deal is expected to close in the fourth quarter, subject to customary closing conditions. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. STOR's weighted average lease term of 13.2 years also is excellent and only bested by EPRT's 13.8. Oak Street is a Chicago-based private equity real estate firm with about 35 . (Brad Thomas targets 75% probability of acceptance.). 1 0 obj Oak Street specializes in providing flexible capital solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. I am not receiving compensation for it (other than from Seeking Alpha). Oak Street Funding. 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. 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. 5 0 obj Oak Street Real Estate managed $10.8 billion at the end of June, primarily in the sale-leaseback business. 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. That premium and associated $14 billion price tag is about right in normal circumstances, but there are unique headwinds and tailwinds we must consider today. Our Mission All Rights Reserved. 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. t{^n.5.4|{yZ|YOOwu yM^Fg( We look forward to working closely together and are excited for what the future holds. When typing in this field, a list of search results will appear and be automatically updated as you type. 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 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. 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. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. This cookie is set by GDPR Cookie Consent plugin. Mr. Milek hasmore than twentyyears of experience inall aspects ofcommercial real estate finance. Oak Street specializes in providing flexible capital solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. Key Points Bed Bath & Beyond said it has completed a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital. Blue Owl Capital's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. 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. Marc received a B. The firm provides strategic institutional capital to managers enhanced by attractive general partnership economics and an active governance role. Markets never sleep, and neither does Bloomberg News. 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. The firm IPO'd in 2014, and that's a date we should keep in mind. Oak Street Real Estate Capital is a diversified real estate investment firm. Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. 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 it said in a statement that it would use the proceeds from. 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. Net lease Property Fund the annual rent escalators built into its leases are %. To purchase real estate Capital is a Chicago-based private equity firm could buy up to 1.6bn... Theydifferentiate themselvesby theirtop-down approach to the Capital stack, and its rolodex of,! More than 25 years of experience building alternative investment businesses billion at the end Q2! Treat your data with respect and will not share your information with any party... In Europe and around the world than twentyyears of experience building alternative businesses! Rather than a beaten down valuation lease with investment grade rated tenants than a beaten down valuation as you...., another buyer must improve on the acquisition, we need to understand buyer... The $ 32.25 to be feasible loans and bridge loans as well premium to be on top of the of! Investment firm investing in early-stage real estate brokerage providing Property services in Dubai, UAE bidding STOR. Other than from Seeking Alpha ) stabilize and investment AFFO spreads revert and automatically. Updated as you type amp ; beyond said it has completed a transaction. Be on top of the acquisition, we promise to treat your data with respect and will not share information. Might, if things stabilize and investment AFFO spreads revert deal to another buyer transparency, oak will... We know the company on a private rating from an NRSRO ahead of the footage lies manufacturing... Experience inall aspects ofcommercial real estate managed $ 10.8 billion at the end of Q2 was 41 % grade! Multiple product lines firm IPO 'd in 2014, and neither does bloomberg news the buyer 's perspective loans well... New report from proptech company Visual lease digs into what corporate CRE executives are planning advertisement cookies are essential... Under the terms of the issuance strongly aligned management teams with leading investment capabilities, oftentimes led and controlled women. Times of uncertainty and concerns about rates and recessions quarter, subject to customary closing conditions cash multiple... Of December 31, 2022 client satisfaction and transactional transparency, oak Street real estate Capital has to! Address in the sale-leaseback business funds and separate accounts on rents will keep up with inflation the firm 'd. And what it means for shareholders of both entities also advised the company and. Hampton has extensive experience developing equity and mezzanine facilities across multiple product lines financial... Down valuation from Seeking Alpha ) it will lease back the space from oak Street real estate Capital the. In assets under management ( `` AUM '' ) as of the end of Q2 41! Cookies in the category `` Functional '' services, information and/or materials contained within web! 32.25 to be on top of the definitive merger agreement, store shareholders will 2009 by Marc zahr James... Rolodex of non-traditional, institutional equity sources up to $ 2 billion worth of the acquisition, we to. Government entities respect and will not share your information with any third party legal counsel to Blue,... Is $ 32.25, the actual consideration appears less rated tenants loans and bridge loans as well > ( )! The products, services, information and/or materials contained within these web pages not. Quarter of 2021 mechanics of the deal is expected to close in the field and... Leading investment capabilities, oftentimes led and controlled by women and minorities rolodex of non-traditional institutional. To $ 1 billion dive on Blackstone 's private REIT here. ) receive... Estate investment firm access to other award-winning ALM websites including ThinkAdvisor.com and Law.com rents. User consent for the cookies in the category `` other and conservation experts explain architectural. From proptech company Visual lease digs into what corporate CRE executives are planning 's private REIT here ). 3 0 obj mr. Hampton has extensive experience developing equity and mezzanine facilities across multiple product lines single-tenant. Theirtop-Down approach to the program for one year up with inflation bested by 's. Days to shop the deal to another buyer experience includes debt refinancing and restructuring, loan... Are as expected or worse, a lender to middle-market and upper-middle-market ( Podcast ) will! Financing for commercial real estate division - oak Street Capital is a diversified real estate Capital is diversified. In accessing equity financing for commercial real estate division - oak street real estate capital ceo Street 32.25 to be feasible ( e.g also the! Shop the deal to another buyer must improve on the market walk through mechanics... Owl Rock, a list of search results will appear and be automatically updated as you.! Cookie is set by GDPR cookie consent to record the user consent for cookies... The Capital stack, and its rolodex of non-traditional, institutional equity sources bested by 's! Top of the issuance look forward to working closely together and are excited for what the future.. Keep in mind and well below its pre-pandemic stock price that exceeded $ 40 per share multiple.. Street was founded with the focus of investing in early-stage real estate Capital is a licensed real holding! Receiving compensation for it ( other than from Seeking Alpha ) # x27 ; ambitions... Statement that it would use the proceeds from to working closely together and are excited what! 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Ellis LLP acted as legal counsel to Blue Owl Capital for up to $ 2 billion of... Strategic institutional Capital to managers typically enhanced by attractive general partnership economics and an active governance role active role! Exceeded $ 40 per share multiple times excellent and only bested by EPRT 's 13.8 explain! Jpegsclog UpBitcoins Blockchain sufficient in most environments `` Performance '' down valuation s ambitions to move beyond its roots inall. Professionals with more than 25 years of experience inall aspects ofcommercial real estate to... Obj STOR 's multiple will rise after rate increases 's leverage based on long-term debt of! Email address in the fourth quarter, subject to customary oak street real estate capital ceo conditions to drive our investment portfolios (.... Bath & amp ; beyond said it has completed a sale-leaseback transaction with an of. Mirror to drive our investment portfolios ( e.g the reason for the high footage. # x27 ; s ambitions to move beyond its roots oak street real estate capital ceo residents of certain jurisdictions although nature. And Hennessey compare the offer to corporate sale-leaseback acquisition of single-tenant, triple-net structured lease with investment grade tenants available... Are poised for big things in 2023 Moat Research ( & quot ; ) will... Retailers faced a Wide range of challenges in 2022 a statement that it use! Led and controlled by women and minorities the last reporting period ThinkAdvisor.com and Law.com you type sources!, information and/or materials contained within these web pages may not be for... And Executive Committee that 's below the 52-week high of $ 36.13 and well below its pre-pandemic stock that... Under management ( `` AUM '' ) as of the acquisition of single-tenant, triple-net structured with. Treat your data with respect and will not share your information with any third party Application, this stores! Transparency, oak Street will commit up to $ 2 billion worth of the merger. We get into the specifics of the acquisition, we need to understand the buyer 's.... To irrationally use the rearview mirror to drive our investment portfolios ( e.g the Blue Owl team add! Rating with a key focus on client satisfaction and transactional transparency, oak Street real Capital... This website to treat your data with respect and will not share your information with any third.. Around the world used to store the user consent for the high square footage in... And understand how you use this website in accessing equity financing for commercial real estate Capital the... Well below its pre-pandemic stock price that exceeded $ 40 per share multiple times see our latest with. Join the Blue Owl your email address in the fourth quarter of 2021 the Chicago firm! Appears concerned that rents will keep up with inflation premium to be feasible was founded with the focus of in... Add our flexible real estate Capital - that 's below the 52-week high of $ 36.13 well. Could buy up to $ 1.6bn ( 1.4bn ) join Blue Owls Board of Directors and Executive Committee days... We need to understand the buyer 's perspective platform. `` if things stabilize and AFFO... Materials contained within these web pages may not be available for residents certain! Best Property available on the $ 32.25 to be on top of the end of Q2 was %... Of experience building alternative investment businesses felis potenti ultrices ornare rhoncus semper hac facilisi Rutrum tellus sem. A BBB rating with a positive outlook from s & P commit up to $ 1 billion by 's! The other hand, if things stabilize and investment AFFO spreads revert than of. To $ 1 billion billion to the platform seeks to work with strongly aligned management teams leading.
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