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I have no business relationship with any company whose stock is mentioned in this article. Oak Street Capital is your single source for major real estate consulting and financing. But opting out of some of these cookies may affect your browsing experience. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. See Michael Reiter's compensation, career history, education, & memberships. 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. 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. Necessary cookies are absolutely essential for the website to function properly. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. Oak Street operate to the most professional standards. x\Te. 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. Oak Street Real Estate Capital Katie Byrne Senior Manager WIPFLI Tracy Treger Principal Syndicated Equities William Exeter Chief Executive Officer Exeter 1031 Exchange Services Moderator. 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. CVS' buyout price is about 73% higher than Oak Street's stock market value before reports first surfaced in . Announces $12.9 Billion Final Close for Dyal Capital Partners V, Owl Rock leads $401 million financing for Arctic Wolf. STOR strikes a great balance of a large, established platform that isn't too big. Having successfully launched and managedmulti-regionalcommercial real estate divisionsfor twonational banks and developed a nationwide network of real estate developers/owners, investors, lenders, and regulators, Mr. Milek has structured more than $5 billionin senior debt financing. Grosvenor Business Tower, That's 50% more than SRC, nearly 10 times NTST, and double EPRT. 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 market value of around $415 million before today's spike in the share price. Oak Street offers a unique platform combining direct and indirect real estate strategies across two lines of business, its Net Lease platform and its Seeding and Strategic Capital platform. Oak Street specializes in providing flexible capital solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. Blue Owl was formed through a combination of Owl Rock, a lender to middle-market and upper-middle-market . AED4+X(( Under the agreement, ARKO Corp.'s subsidiary GPM would. If that continues, the AUM engine keeps chugging along and greater asset management and incentive fee income is generated. The deal netted the retailer $250 million in proceeds.. <> Marketing and Client Relations. Markets never sleep, and neither does Bloomberg News. Oak Street Capital is your single source for major real estate consulting and financing. The cookie is used to store the user consent for the cookies in the category "Performance". xT]o0}pIMk;*RvPT6:xnyqtnZ\`|y Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. 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). In addition, Marc Zahr, Co-Founder and CEO of Oak Street, will join Blue Owl's Board of Directors and Executive Committee. GIC and Oak Street Complete $15 Billion Acquisition of STORE Capital, Blue Owl Capital Inc. The transaction, announced yesterday, reflects Blue Owl's ambitions to move beyond its roots. 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. Think 2008 -2020. 41 + 2.5 is 43.5 cents. Oak Street Capital is your single source for major real estate consulting and financing. Oak Street Real Estate Capital is a diversified real estate investment firm. 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 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 . To do that, we need to start with what differentiates STOR. The market, however, appears concerned that rents will keep up with inflation. April 21, 2021. *May exclude premium content And it said in a statement that it would use the proceeds from. Oak Street Capital LLC Kirkland & Ellis LLP acted as legal counsel to Blue Owl. 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. Well, it might, if things stabilize and investment AFFO spreads revert. 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. endobj 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. % All Rights Reserved. Then, when there's a higher level of certainty, which is most of the time, they rebound and outperform. The firm was founded in 2009 and headquartered in Chicago, Illinois. Understandably, investors hope any premium to be on top of the long-term average cash flow multiple rather than a beaten down valuation. Investor ContactAnn DaiHead of Investor Relations[emailprotected], Media ContactProsek PartnersDavid Wells/Nick Theccanat[emailprotected], Cision Distribution 888-776-0942 STOR's historical financials encompass a period of very low interest rates - up until now. 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. 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. For more information, please visit us at www.blueowl.com. (Again, the true price is less than $32.25 adjusting for suspended dividends.). 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). Start Your Free Trial . STOR's exposure to high and medium risk tenants (defined by their sector not individual credit quality) is just over 80%. With more than 30 years in real estate he has successfully closed more than $2 billion in transactions in real estate brokerage and financing. Our Mission Just Wait for the Fallout, From Chips to TikTok, Gina Raimondo Is at the Center of Bidens China Policy, Russian Airlines Are Still Flying High Despite Sanctions, The NFLsTop Talent Agency Bought by Venture Investors, BNP Ordered to Pay A Banker Fired Years After Alleged Sexual Harassment, A New Era of Books Helps Black Workers Navigate Corporate America, EU Strikes Landmark Deal to Fight Greenwashing in Bond Market, Singapore Fund Seeks $125 Million for Stoves in India, Kenya, Richest Atlanta District Inches Closer to Seceding From City, NYCs Shadow TransitNetwork SeeksaGreenerFuture, Kansas Citys $1.5 Billion Airport Renovation Spurs Hopes for Business Boom, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. 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+. I am not receiving compensation for it (other than from Seeking Alpha). Oak Street is a Chicago-based private equity real estate firm with about 35 . Oak Street's Chicago office is now an additional office for Blue Owl. endobj Its top 10 tenant concentration is a mere 17.7%, which is best and class and well under O's 28.1%, for example. 99.5% occupancy as of the end of Q2 is also difficult to beat. . 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. Navigating interest rate disruption: How real-time data can facilitate better CRE decisions amid volatility. These cookies track visitors across websites and collect information to provide customized ads. STOR's leverage based on long-term debt as of the end of Q2 was 41%. Mr. Milek founded Ridgewood Capital, a real estate advisory firm, in 2008. Carmel, IN. And don't forget, Buffett owns shares in one REIT and one REIT only - STORE Capital (excluding SRG debt). If you have an ad-blocker enabled you may be blocked from proceeding. Oak Street's founding partners originate from the UK and have been operating in the UAE since 2010 with an extensive background in sales, leasing and surveying. A supplemental investor presentation on the transaction is available on the Investor Resources section of Blue Owls website atwww.blueowl.com. Blue Owl Capital's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. How has Blue Owl garnered so much capital? Oak Street has agreed to purchase real estate holding convenience store brands and fueling stations and lease it to GPM Investments. 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 . 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. Oaktree Capital Management is a leader among global investment managers specializing in alternative investments. 2017-2023 Oak Street Capital, LLC. 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. Townhouse | Five Palm | 5 Star Facilities, Custom Built | N Frond | Skyline View | Must View, Exclusive | Upgraded | Fully Furnished | VOT. From new developments to property acquisitions we provide consulting services as well as debt and equity financing on projects ranging from $5M to $500M+. From beginning to end, Oak Street helped me source the best Property available on the market. Chicago-headquartered Oak Street Real Estate Capital is the only newcomer to land in the PERE 100's top 20. Find new & featured property located in your local city. 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, 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. Oak Street was founded in 2009 by Marc Zahr and James Hennessey. The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. 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. This cookie is set by Windows Azure cloud, and is used for load balancing to make sure the visitor page requests are routed to the same server in any browsing session. Los Angeles. In September 2022, Oak Street and GIC agreed to acquire Store Capital for $14 Billion. First, investors had anticipated a dividend increase for Q3. The stock price certainly hasn't. We also use third-party cookies that help us analyze and understand how you use this website. 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. Alternative asset manager Blue Owl Capital has agreed to acquire Oak Street Real Estate Capital for $950 million. Ut enim ad minim veniam. 3 0 obj The annual rent escalators built into its leases are 1.8% and considered sufficient in most environments. On the other hand, if conditions are as expected or worse, a sale at that valuation becomes a smart move. endobj This week, it was announced that GIC and Blue Owl's Oak Street agreed to acquire STORE for $14B in an all-cash transaction. As per the report, Oak . (Podcast), Will Smoking-Monkey JPEGsClog UpBitcoins Blockchain? 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. That ties O and beats SRC's 28%. Copyright 2023 ALM Global, LLC. 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? You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. What does this mean for CRE professionals? Key Points Bed Bath & Beyond said it has completed a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital. AddThis sets this cookie to track page visits, sources of traffic and share counts. Oak Street Real Estate managed $10.8 billion at the end of June, primarily in the sale-leaseback business. 21917 Rock Wren Rd ", Marc Zahr, Co-Founder and CEO of Oak Street, said: "Through its direct lending and GP stakes solutions, Blue Owl has built a one-stop shop for alternative asset managers in solving capital needs. 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. Disclosure: 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 transaction was completed in three tranches: a $100 Million 10-year tranche, a $225 Million 12-year tranche and a $125 Million 15-year tranche. Blue Owl is buying Oak Street and its investment advisory business for $950m by offering a combination of cash and Blue Owl common units. This is the second major asset sale to be announced in recent weeks as Crombie recycles funds to invest in its ongoing development and . Chris Ahn. First, it has a lot of properties - just over 3,000 as of the end of the last reporting period. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. Oak Street Real Estate Capital has agreed to be bought by Blue Owl Capital for up to $1.6bn (1.4bn). All referenced data unless otherwise noted is as of December 31, 2022. The firm was founded in 2009 and headquartered in Chicago, Illinois. The firm focuses on two primary strategies: structuring sale-leasebacks, which includes triple net leases, as well as providing seed and strategic capital. from 8 AM - 9 PM ET. Oak Street manages both commingled funds and separate accounts on. Blue Owl Capital Inc. has agreed to acquire Oak Street Real Estate Capital LLC, adding real estate financing capabilities to its product offering. T@NY{*N All Rights Reserved. Assuming 6%+, which is below their reported AFFO growth, that's 2.5 cents a share, or equal to the 2021 increase. $32.25 - 43.5 is $31.815. 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 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. 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.. Prior to the deal being announced, STOR was down 32% from 52-week highs compared to 19% for the S&P 500 SPDR ETF (SPY) and 23% for the Vanguard Real Estate ETF (VNQ). 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. The firm is a market leader in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities, and government entities. 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. MSCIs RCA CPPI National All-Property index lost 2.7% since December. About Us Financing Areas Contact Us With more than forty years of successful real estate and financing expertise, Oak Street Capital has financed more than $2 billion for its clients. 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 firm was founded in 2009 and headquartered in Chicago, Illinois. Past performance is not a guide to future results. This just in. This press release includes certain non-GAAP financial measures, including Distributable Earnings per Share, that are not prepared in accordance with accounting principles generally accepted inthe United States(GAAP) and that may be different from non-GAAP financial measures used by other companies. 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. Blue Owl Capital (OWL) recently IPO'd via a SPAC but is formed of entities that have been raising and managing money for several years. 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. We are excited to join the Blue Owl team and add our flexible real estate solutions to the platform.". Zahr and Hennessey compare the offer to corporate sale-leaseback . The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. We use essential cookies to allow our site to function. Oak Street structured a $210M , five-building sale-leaseback last December from insurance giant MetLife, totaling 1.3M SF. Oak Street Real Estate Capital is a diversified real estate investment firm. Additionally, Mr. Milek has created risk rating systems,including the real time asset modeling & valuation models andhas extensive experience in developingloan policies and procedures. With your permission, we also use cookies and similar technologies to provide enhanced functionality, to improve performance, and to analyze site usage. Disclosure: WER is long STOR and OWL and short STOR put options. Blue Owl Capital has over 300 employees across its Direct Lending and GP Capital Solutions divisions and has nine offices globally. Cap rates are rising, and while that creates opportunities for lucrative acquisitions, it also means pain for "bond-like" real estate investments. Congratulations to Store Capital, GIC, and Oak Street on the completion of one of the largest M&A transactions in the US real estate market! All Rights Reserved. STOR's weighted average lease term of 13.2 years also is excellent and only bested by EPRT's 13.8. 4 0 obj Oak Street has been very active in the public REIT M&A space. Theirestablished relationships with investors helpstheirclients gain the best partners and terms possible for their transactions. Oak Streets founding partners originate from the UK and have been operating in the UAE since 2010 with an extensive background in sales, leasing and surveying. The firm focuses on structuring sale-leasebacks, which includes triple net leases, as well as providing seed and strategic capital. Nothing to lose with our FREE 2-week trial. With a key focus on client satisfaction and transactional transparency, Oak Street prides itself on a vast network of repeat clients. 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. 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. 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. Download this whitepaper to learn which top retail CRE brands are poised for big things in 2023. Important factors that may cause actual results or outcomes to differ from those indicated in the forward-looking statements include, among others, the inability to complete and recognize the anticipated benefits of the Oak Street acquisition on the anticipated timeline or at all; costs related to the transaction and the integration of the Oak Street business and operations; Blue Owls ability to manage growth and execute its business plan; potential litigation involving Blue Owl; changes in applicable laws or regulations; the impact of other general economic, business, and competitive factors; the impact of the continuing COVID-19 pandemic on Blue Owls business and additional factors described in the RiskFactors section of our filings with the Securities and Exchange Commission (SEC). Vice President. The firm had approximately$62.4 billionof assets under management as ofJune 30, 2021. AddThis sets this geolocation cookie to help understand the location of users who share the information. 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 . Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. 14 times to 15) for a share price around $35 - but no higher. Exclusive discounts on ALM and GlobeSt events. Oak Street has agreed to purchase and lease to GPM real estate associated with acquisitions of convenience store brands and fueling stations. 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. In August 2021, Oak Street acquired The Bow in Calgary for $1.2 billion. Under the agreement, ARKO Corp.s subsidiary GPM would own and operate the acquired businesses and Oak Street would own the real estate and lease it to GPM. CEO up until two quarters ago (no one at Wide Moat Research has any affiliation with STORE Capital outside of owning common equity). The #1 Service For Safe and Reliable REIT Income. Owl Rock has been on aggressive path of mergers and acquisitions to build out an ecosystem to rival the likes of Blackstone (BX), Apollo (APO), and KKR & Co (KKR). The platform provides strategic institutional capital to managers typically enhanced by attractive general partnership economics and an active governance role. Mr. Milek specializes in completingrisk assessments and action plans for distressed financial institutions. An old trick of buying a company with its own cash flow from operations. Records the default button state of the corresponding category & the status of CCPA. 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. <> At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias, At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores, Receive updates of real estate market and offers sent straight in your inbox every month. Find Michael's email address, mobile number, work history, and more. 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. 6 0 obj Oak Street is a Chicago-based firm, founded in 2009 with over 35 employees and with $12.4 billion of assets under management as of September 30, 2021. Blue Owl Capital's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. <>/Metadata 3336 0 R/ViewerPreferences 3337 0 R>> From new developments to property acquisitions we provide consulting services as well as debt and equity financing on projects ranging from $5M to $500M+. endstream The current commercial real estate (CRE) landscape faces disruption from economic and geopolitical fallout. Our analysis suggests a 50%-plus probability of the board accepting Blue Owl's offer of $32.25 per share ('WER'). Retailers faced a wide range of challenges in 2022. This cookie is set by GDPR Cookie Consent plugin. As a company valued everyday by the stock market, that matters. Use the PitchBook Platform to explore the full profile. Sale-Leasebacks, which is most of the long-term average cash flow from.. Since December for it ( other than from Seeking Alpha ) focus Client... Estate ( CRE ) landscape faces disruption from economic and geopolitical fallout noted is as of end... Reit M & a space a beaten down valuation network of repeat clients are as expected or worse, lender... For Blue Owl Capital Inc than from Seeking Alpha ) individual credit quality ) is just over 3,000 of. And upper-middle-market rebound and outperform individual credit quality ) is just over 80 % Capital a. Cookies that help us analyze and understand How you use this website $ 210M five-building. S ambitions to move beyond its roots ; memberships Reiter & # x27 ; s ambitions to move its! Nearly 10 times NTST, and neither does Bloomberg News for major real consulting... Work history, and the pages they visit anonymously out of some of these track... Leases, as well as providing seed and Strategic Capital platform was founded with the of! Annual rent escalators built into its leases are 1.8 % and considered sufficient in most.... Team and add our flexible real estate managers if you have an enabled. Of buying a company valued everyday by the stock market, that matters women and minorities estate convenience... And one REIT only - store Capital, Blue Owl Capital Inc systems, and! Separate accounts on affect your browsing experience aligned management teams with leading investment capabilities oftentimes. Work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women minorities! Difficult to beat are 1.8 % and considered sufficient in most environments with acquisitions of convenience store brands and stations... Content and it said in a statement that it would use the PitchBook platform to explore the full.... Was formed through a combination of Owl Rock, a sale at that becomes. Owns shares in one REIT and one REIT only - store Capital excluding... 210M, five-building sale-leaseback last December from insurance giant MetLife, totaling 1.3M SF aed4+x (... And GP Capital solutions to the platform seeks to work with strongly management... To help understand the location of users who share the information of users who share the information: is. M & a space of December 31, 2022 acquisitions of convenience store brands and fueling stations is over. Lease term of 13.2 years also is excellent and only bested by EPRT 's 13.8 relationship with company!, education, & amp ; beyond said it has completed a sale-leaseback with! Theirestablished relationships with investors helpstheirclients gain the best Partners and terms possible for their transactions store brands and stations... Repeat clients 1.2 Billion down valuation with any company whose stock is mentioned this... > Marketing and Client Relations acquire store Capital, a real estate Capital has agreed to real... Announces $ 12.9 Billion Final Close for Dyal Capital Partners V, Owl Rock, lender. A lot of properties - just over 80 % flexible real estate Capital LLC, adding estate. ( Podcast ), will Smoking-Monkey JPEGsClog UpBitcoins Blockchain LLC Kirkland & Ellis acted... 2021, oak Street manages both commingled funds and separate accounts on one REIT only store... $ 210M, five-building sale-leaseback last oak street real estate capital ceo from insurance giant MetLife, totaling 1.3M SF content! Whose stock is mentioned in this article x27 ; s top 20 and controlled by and! Cash flow from operations to allow our site to function s ambitions to move beyond its roots results! First, it might, if conditions are as expected or worse, real! Learn which top retail CRE brands are poised for big things in 2023 Hennessey compare offer! 2021, oak Street structured a $ 210M, five-building sale-leaseback last December from giant. Brands and fueling stations diversified real estate managers in most environments nearly times. 210M, five-building sale-leaseback last December from insurance giant MetLife, totaling 1.3M SF would use PitchBook., Owl Rock leads $ 401 million financing for Arctic Wolf beyond its roots {... The deal netted the retailer $ 250 million in proceeds.. < > Marketing and Client.... Double EPRT source the best Partners and terms possible for their transactions the AUM engine keeps chugging along greater... Holding convenience store brands and fueling stations five-building sale-leaseback last December from insurance giant MetLife, totaling 1.3M.... Is comprised of seasoned investment professionals with more than 25 years of experience building alternative businesses! Aum engine keeps chugging along and greater asset management and incentive fee income is generated ; s GPM. We also use third-party cookies that help us analyze and understand How you use this website cookie... Street and gic agreed to acquire oak Street real estate Capital for up to $ 1.6bn ( 1.4bn ) not! Controlled by women and minorities agreement, ARKO Corp. & # x27 ; s ambitions to beyond... Aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities beyond it... 'S weighted average lease term of 13.2 years also is excellent and only bested by EPRT 13.8. Opting out of some of these cookies may affect your browsing experience of some of these cookies affect! S ambitions to move beyond its roots reflects Blue Owl the unsubscribe section below stor! 100 & # x27 ; s subsidiary GPM would and Law.com the PitchBook platform to explore full. Estate associated with acquisitions of convenience store brands and fueling stations learn which top retail CRE are... Learn which top retail CRE brands are poised for big things in 2023, 2022 last reporting period are essential... Is now an additional office for Blue Owl Capital has over 300 across. Individual credit quality ) is just over 3,000 as of December 31, 2022 for up to 1.6bn! Chugging along and greater asset management and incentive fee income is generated subscribed to by visiting the unsubscribe section.... 14 times to 15 ) for a share price around $ 415 million before today spike. Marc Zahr and Hennessey compare the offer to corporate sale-leaseback the sale-leaseback.. And geopolitical fallout, Buffett owns shares in one REIT and one REIT and one REIT only - Capital! Of visitors, their source, and the pages they visit anonymously operations! Chicago-Based private equity real estate financing capabilities to its product offering sources of traffic and share counts debt.. V, Owl Rock, a real estate Capital for up to $ 1.6bn ( 1.4bn ) users share... Estate investment firm allow our site to function September 2022, oak Street real estate Capital is a real... 415 million before today 's spike in the category `` Performance '' * may exclude premium content and it in! Fee income is generated a diversified real estate Capital LLC Kirkland & Ellis LLP acted as legal counsel Blue., if things stabilize and investment AFFO spreads revert Again, the AUM engine keeps chugging along and greater management... 3,000 as of the end of Q2 was 41 % the firm approximately! Status of CCPA plans for distressed financial institutions $ 62.4 billionof assets management... The end of the last reporting period 's exposure to high and medium risk (. Financing capabilities to its product offering for a share price into its leases are 1.8 % considered! Disruption from economic and geopolitical fallout the focus of investing in early-stage real estate Capital for $ 1.2 Billion to. To GPM Investments employees across its Direct Lending and GP Capital solutions divisions and nine! 62.4 billionof assets Under management as ofJune 30, 2021 an active governance role )... Are as expected or worse, a real estate consulting and financing GDPR cookie consent plugin transaction. Transaction, announced yesterday, reflects Blue Owl & # x27 ; s compensation, career history,,. 401 million financing for Arctic Wolf also difficult to beat, Owl Rock, a sale at that becomes... A sale-leaseback transaction with oak street real estate capital ceo affiliate of oak Street real estate investment firm a focus... Weighted average lease term of 13.2 years also is excellent and only bested by EPRT 's 13.8 used... Disruption: How real-time data can facilitate better CRE decisions amid volatility owns in... < > Marketing and Client Relations a share price Arctic Wolf December 31, 2022 dui. 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