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Oak Street operate to the most professional standards. All Rights Reserved. Oaktree Capital Management is a leader among global investment managers specializing in alternative investments. KBCM also advised the Company on a private rating from an NRSRO ahead of the issuance. The firm had approximately$62.4 billionof assets under management as ofJune 30, 2021. %PDF-1.7 Oak Street specializes in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. <> From new developments to property acquisitions we provide consulting services as well as debt and equity financing on projects ranging from $5M to $500M+. 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. 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). (Podcast), Will Smoking-Monkey JPEGsClog UpBitcoins Blockchain? 14 times to 15) for a share price around $35 - but no higher. The retailer sold 2.1 . 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 . The question is whether STOR's multiple will rise after rate increases. Oak Street Real Estate Capital, LLC ("Oak Street") is a private equity real estate firm based in Chicago, Illinois. Kirkland & Ellis LLP acted as legal counsel to Blue Owl. Oak Street specializes in providing flexible capital solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. In addition, Marc Zahr, Co-Founder and CEO of Oak Street, will join Blue Owl's Board of Directors and Executive Committee. Oak Street Real Estate managed $10.8 billion at the end of June, primarily in the sale-leaseback business. 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). t{^n.5.4|{yZ|YOOwu yM^Fg( 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. For more information, please visit us at www.blueowl.com. Web: www.oakstcap.com. Oak Street Real Estate Capital is a diversified real estate investment firm. 2017-2023 Oak Street Capital, LLC. Oak Street is a Chicago-based firm, founded in 2009 with over 35 employees and with $12.4 billion of assets under management as of September 30, 2021. This cookie is set by GDPR Cookie Consent plugin. Oak Street Real Estate Capital has been one of the fastest growing managers in the private real estate space this past decade. Los Angeles. vJM;P|AS!U|}6&fMOw89_KP4iOvDp6mbf }@TcGD6 M>Qadx"D(r?HsNL rH -b%%(%9l6$gC)]!mY74F|LQ ZF?;%0@~I The firm was founded in 2009 and headquartered in Chicago, Illinois. Michael Reiter is Managing Director at Oak Street Real Estate Capital LLC. Oak Street Real Estate Capital is a diversified real estate investment firm. 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. . 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 is private equity real estate firm based in Chicago that focuses on structuring sale-leasebacks. Please. 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. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. 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. Issued by Microsoft's ASP.NET Application, this cookie stores session data during a user's website visit. endobj Faucibus tristique felis potenti ultrices ornare rhoncus semper hac facilisi Rutrum tellus lorem sem velit nisi non pharetra in dui. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. It will lease back the space from Oak Street Real Estate Capital, the Chicago private-equity firm, under long-term leases. 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. 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. If that continues, the AUM engine keeps chugging along and greater asset management and incentive fee income is generated. Records the default button state of the corresponding category & the status of CCPA. It's that real estate division - Oak Street Real Estate Capital - that's officially bidding on STOR. The annual rent escalators built into its leases are 1.8% and considered sufficient in most environments. From private equity and mezzanine to land leases and bridge loans, Oak Street Capital has the experience and the resources to help secure the right financing for your project. 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. With more than forty years of successful real estate and financing expertise, Oak Street Capital has financed more than $2 billion for its clients. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. The net lease funds provide corporate tenants with the ability to optimize their balance sheets, delivering immediate liquidity, tax benefits, and operational flexibility. 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. <> The transaction is anticipated to be approximately 5-7% accretive to Distributable Earnings per Share starting in 2022. Understandably, investors hope any premium to be on top of the long-term average cash flow multiple rather than a beaten down valuation. Just like Buffett, we've been aggressive buyers of shares when the stock has a steep decline. 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. The market, however, appears concerned that rents will keep up with inflation. Again, this is not really at $32.25 as I pointed out. AED4+X(( Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. For more information, please visit us at www.blueowl.com. Mr. Hampton has extensive experience structuring and closing construction loans and bridge loans as well. 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. STOR's historical financials encompass a period of very low interest rates - up until now. Oak Street has agreed to purchase real estate holding convenience store brands and fueling stations and lease it to GPM Investments. But they eventually overcorrect. 41 + 2.5 is 43.5 cents. Townhouse | Five Palm | 5 Star Facilities, Custom Built | N Frond | Skyline View | Must View, Exclusive | Upgraded | Fully Furnished | VOT. Markets never sleep, and neither does Bloomberg News. The #1 Service For Safe and Reliable REIT Income. The firm was founded in 2009 and headquartered in Chicago, Illinois. If STOR waits around another quarter or two, it's highly likely that the same 10% premium to NAV offered by Blue Owl will equate to lower than $32.25 per share. The WMR brands include: (1) iREIT on Alpha (Seeking Alpha), and (2) The Dividend Kings (Seeking Alpha), and (3) Wide Moat Research. All referenced data unless otherwise noted is as of December 31, 2022. The firm provides strategic institutional capital to managers enhanced by attractive general partnership economics and an active governance role. MSCIs RCA CPPI National All-Property index lost 2.7% since December. Sophie Aldrich, CFA. The transaction was previously announced in October of 2021. 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