What does this mean for CRE professionals? Oak Street specializes in providing flexible capital solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. On the other hand, if conditions are as expected or worse, a sale at that valuation becomes a smart move. 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. About Oak Street. The Net Lease platform is focused on acquiring properties net-leased to investment grade and creditworthy tenants. Please. Oak Street Real Estate Capital is a diversified real estate investment firm. Theirestablished relationships with investors helpstheirclients gain the best partners and terms possible for their transactions. STOR's model is primarily a single-tenant triple net lease. Mr. Milek specializes in completingrisk assessments and action plans for distressed financial institutions. Blue Owl Capital's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. See our latest interview with FRG's CEO here. Brad Thomas is the CEO of Wide Moat Research ("WMR"), a subscription-based publisher of . The firm was founded in 2009 and headquartered in Chicago, Illinois. This idea was discussed in more depth with members of my private investing community, iREIT on Alpha. An old trick of buying a company with its own cash flow from operations. Berkshire Global Advisors served as financial advisor and Willkie Farr & Gallagher LLP and Gibson, Dunn & Crutcher LLP acted as legal counsel to Oak Street. I have no business relationship with any company whose stock is mentioned in this article. Spicewood, TX 78669, Tel: +1 (312) 731-3391 Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. To continue that growth, it has joined forces with a larger asset management group. The unit, Petershill, in November purchased a minority stake in Oak Street Real Estate Capital LLC, which has raised over $6.5 billion since launching in 2009. 9 See similar companies for insight and prospecting. We look forward to working closely together and are excited for what the future holds. Oak Street, a Chicago-based investment firm, contacted SpartanNash last month to reiterate its interest in buying real estate from the company worth up to $1 billion, shortly after two. The #1 Service For Safe and Reliable REIT Income. The firm was founded in 2009 and headquartered in Chicago, Illinois. Miami reclaimed the top destination for the first time since August. Blue Owl Capital Inc. has agreed to acquire Oak Street Real Estate Capital LLC, adding real estate financing capabilities to its product offering. <> Copyright 2023 ALM Global, LLC. 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. All referenced data unless otherwise noted is as of December 31, 2022. 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. Mr. Hampton founded Oak Street Capital in 2003. Oak Street Real Estate Capital, LLC's proposed acquisition of certain properties from Granite Real Estate Investment Trust and Granite REIT Fasken Reading Time 1 minute read Oak Street Capital LLC With more than 30 years in real estate he has successfully closed more than $2 billion in transactions in real estate brokerage and financing. Lets walk through the mechanics of the deal and what it means for shareholders of both entities. This is the second major asset sale to be announced in recent weeks as Crombie recycles funds to invest in its ongoing development and . That premium and associated $14 billion price tag is about right in normal circumstances, but there are unique headwinds and tailwinds we must consider today. AddThis sets this geolocation cookie to help understand the location of users who share the information. Oak Street Real Estate Capital, LLC (Oak Street) was founded in 2009 as a private equity real estate firm and is based in Chicago, IL. Oak Street Real Estate Capital is a diversified real estate investment firm. About Blue OwlBlue Owl is an alternative asset manager that provides investors access to Direct Lending and GP Capital Solutions strategies through a variety of products. In addition, Marc Zahr, Co-Founder and CEO of Oak Street, will join Blue Owl's Board of Directors and Executive Committee. Fortunately, WER owns equity in both, so it's basically a wash. Brad Thomas has exited his position in STOR and reallocated it to another net lease REIT mentioned today on iREIT on Alpha's chat board. We are excited to join the Blue Owl team and add our flexible real estate solutions to the platform.". If you were Blue Owl or another bidder, wouldn't you want a lower price in this market too? A. degree from University of Dayton. About Us Financing Areas Contact Us But the deal would be contingent on Oak Street raising rents 1.5% annually, and for its backers to realize a 7.25% initial return. The firm focuses on structuring. This cookie is set by GDPR Cookie Consent plugin. Previously, Marc was the Vice President Acquistions at American Realty Capital and also held positions at Merrill, TM Associates Management. vJM;P|AS!U|}6&fMOw89_KP4iOvDp6mbf }@TcGD6 M>Qadx"D(r?HsNL rH -b%%(%9l6$gC)]!mY74F|LQ ZF?;%0@~I ", 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. The firm was founded in 2009 and headquartered in Chicago, Illinois. from 8 AM - 9 PM ET. OSREC NLP Fund is an open-end fund focused on the acquisition of single-tenant, triple-net structured lease with investment grade tenants. 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 . CEO up until two quarters ago (no one at Wide Moat Research has any affiliation with STORE Capital outside of owning common equity). In September 2022, Oak Street and GIC agreed to acquire Store Capital for $14 Billion. Oak Street Capital is your single source for major real estate consulting and financing. The firm provides strategic institutional capital to managers enhanced by attractive general partnership economics and an active governance role. Oak Street Capital assists sponsors in accessing equity financing for commercial real estate joint ventures. 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.. The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. Carmel, IN. You must click the activation link in order to complete your subscription. Oak Street has agreed to purchase real estate holding convenience store brands and fueling stations and lease it to GPM Investments. Oak Street offers a unique. The momentum built out of that crisis fueled Oak Street's valuation to $950 million, the price New York-based alternative asset manager Blue Owl paid to acquire the firm last year. STOR's leverage based on long-term debt as of the end of Q2 was 41%. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Oaktree Capital Management is a leader among global investment managers specializing in alternative investments. Oak Street client service is spectacular. 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). 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. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. Blue Owl Capital's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. All Rights Reserved. Oak Street signed MetLife to 12-year triple net leases on the buildings . 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. Key Points Bed Bath & Beyond said it has completed a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital. The private equity firm could buy up to $2 billion worth of the. 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 Katie Byrne Senior Manager WIPFLI Tracy Treger Principal Syndicated Equities William Exeter Chief Executive Officer Exeter 1031 Exchange Services Moderator. Real Assets. This cookie is set by GDPR Cookie Consent plugin. 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