BlackRock: The ESG Issue Is . Oak Street client service is spectacular. This website uses cookies to improve your experience while you navigate through the website. Oak Street Real Estate Capital is a diversified real estate investment firm. 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 Real Estate Capital is a diversified real estate investment firm. Managing Director, Chief Product Officer and Global Head of Client Relations. Think 2008 -2020. If you experience any issues with this process, please contact us for further assistance. 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. Web: www.oakstcap.com. Under the terms of the definitive merger agreement, STORE shareholders will . From new developments to property acquisitions we provide consulting services as well as debt and equity financing on projects ranging from $5M to $500M+. Crombie REIT ( CRR-UN-T) will sell a majority non-managing interest in 15 additional grocery store-anchored retail properties across Canada to Oak Street Real Estate Capital of Chicago for $193 million. 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. Mr. Hampton founded Oak Street Capital in 2003. The firm was founded in 2009 and headquartered in Chicago, Illinois. The #1 Service For Safe and Reliable REIT Income. Blue Owl assumes no obligation to update or revise any such forward-looking statements except as required by law. I (Williams Equity Research) analyzed several of Owl Rock's private offerings on behalf of large institutional investors and know the management team well. For more information, please visit us at www.blueowl.com. The cookie is used to store the user consent for the cookies in the category "Performance". Oak Street Real Estate Capital is a diversified real estate investment firm. The cookies is used to store the user consent for the cookies in the category "Necessary". Blue Owl has approximately 250 employees across its Direct Lending and GP Capital Solutions divisions and has six offices globally. 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 transaction was previously announced in October of 2021. O's way bigger at nearly 11,500 properties, but that's a whale very few acquirers can realistically take down. endobj It had $119 billion in assets under management ("AUM") as of the last reporting period. endobj The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. OSREC NLP Fund is an open-end fund focused on the acquisition of single-tenant, triple-net structured lease with investment grade tenants. 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. Records the default button state of the corresponding category & the status of CCPA. First, investors had anticipated a dividend increase for Q3. This cookie is set by GDPR Cookie Consent plugin. View Michael Reiter's business profile as Chief Operating Officer at Oak Street Real Estate Capital LLC. And this offer includes a 2-Week FREE TRIAL plus my FREE book. Since the deal is all cash, another buyer must improve on the $32.25 to be feasible. Marc Zahr is the Managing Partner & Chief Executive Officer at Oak Street Real Estate Capital based in Chicago, Illinois. Oak Street Real Estate Capital, LLC ("Oak Street") is a private equity real estate firm based in Chicago, Illinois. But they eventually overcorrect. (See our deep dive on Blackstone's private REIT here.). The firm focuses on structuring. Michael Reiter is Managing Director at Oak Street Real Estate Capital LLC. 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. The firm had approximately $70.5 billion of assets under management as of September 30, 2021. Investor ContactAnn DaiHead of Investor Relationsowlir@blueowl.com, Media ContactProsek PartnersDavid Wells/Nick TheccanatPro-blueowl@prosek.com, View original content to download multimedia:https://www.prnewswire.com/news-releases/blue-owl-capital-completes-acquisition-of-oak-street-real-estate-capital-301451517.html, 399 Park Avenue, 37th Floor New York, NY 10022. Download this whitepaper to learn which top retail CRE brands are poised for big things in 2023. 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 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 said the transaction adds a complementary real estate capability to Blue Owl's suite of financing solutions for use rs of capital and offer s institutional and retail investors additional compelling investment option s.. Oak Street is a Chicago-based firm, founded in 2009 with over 35 employees and with $10.8 . Office 1005, Bluebell Capital Calls for BlackRock CEO Larry Fink to be Replaced Dec 07. 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). Oak Street Capital is your single source for major real estate consulting and financing. Why? The firm had approximately$62.4 billionof assets under management as ofJune 30, 2021. 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. This article was coproduced with Williams Equity Research ('WER'). Your article was successfully shared with the contacts you provided. Start Your Free Trial Oak Street Real Estate Capital has been one of the fastest growing managers in the private real estate space this past decade. AED4+X(( 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. Navigating interest rate disruption: How real-time data can facilitate better CRE decisions amid volatility. 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. Brad Thomas is the CEO of Wide Moat Research ("WMR"), a subscription-based publisher of financial information, serving over 10,000 investors around the world. We recently added an all-new Ratings Tracker called iREIT Buy Zone to help members screen for value. 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 firm IPO'd in 2014, and that's a date we should keep in mind. Marc Zahr, Oak Street Real Estate Capital LLC: Profile and Biography - Bloomberg Markets Live Now Bloomberg TV+ Bloomberg Surveillance Bloomberg Surveillance with Tom Keene,. All Rights Reserved. The firm was founded in 2009 and headquartered in Chicago, Illinois. Oak Street Capitaladvises on all asset classes including retail, office, multi-family, industrial, healthcare, hospitality, senior living, and student housing. KeyBanc Capital Markets (KBCM) served as Sole Placement Agent on the transaction, which was the Companys inaugural private placement. Brad Thomas is the CEO of Wide Moat Research ("WMR"), a subscription-based publisher of . (Brad Thomas targets 75% probability of acceptance.). The retailer sold 2.1 . 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. 41 + 2.5 is 43.5 cents. 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. Oak Street Capitals mission as a financial advisory firm is to provide our clients with the best capital stack options for their commercial project or asset that optimizes their financial position and returns consistently. 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. STOR's weighted average lease term of 13.2 years also is excellent and only bested by EPRT's 13.8. After submitting your request, you will receive an activation email to the requested email address. 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? <> Oak Street structured a $210M , five-building sale-leaseback last December from insurance giant MetLife, totaling 1.3M SF. 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. 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. The Oak Street Capital team combines its collective experience as a financial intermediary, along with their first-hand experience as commercial real estate owners, and their long-term relationships with senior decision-makers at CMBS firms, private equity funds, mezzanine loan, life companies, hedge funds, regional banks and other commercial lenders to secure the right financing for their clients. 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. Previously, Marc was the Vice President Acquistions at American Realty Capital and also held positions at Merrill, TM Associates Management. . Oak Street Real Estate Capital is a diversified real estate investment firm. You also have the option to opt-out of these cookies. The Seeding and Strategic Capital business focuses on investing in early-stage real estate managers across various industry sectors. 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. Oak Street has agreed to purchase and lease to GPM real estate associated with acquisitions of convenience store brands and fueling stations. 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. The transaction is expected to close in the fourth quarter of 2021 and is subject to customary closing conditions. Grosvenor Business Tower, 21917 Rock Wren Rd 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. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. The firm provides strategic institutional capital to managers enhanced by attractive general partnership economics and an active governance role. About Oak Street. Oak Street specializes in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. 1 0 obj STOR's historical financials encompass a period of very low interest rates - up until now. <> Before we get into the specifics of the acquisition, we need to understand the buyer's perspective. endstream All referenced data unless otherwise noted is as of December 31, 2022. 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. 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 manages both commingled funds and separate accounts on. The transaction was previously announced in October of 2021. With your permission, we also use cookies and similar technologies to provide enhanced functionality, to improve performance, and to analyze site usage. With more than forty years of successful real estate and financing expertise, Oak Street Capital has financed more than $2 billion for its clients. Retailers faced a wide range of challenges in 2022. Although human nature is to irrationally use the rearview mirror to drive our investment portfolios (e.g. 4 0 obj That seemed far fetched when Blue Owl had its IPO, but after acquiring a leading real estate lending company with $16 billion in AUM and now setting its targets on STOR's net lease platform, it appears Blue Owl is well on its way to building a diversified alternative investment platform. 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. Yet, these 10 retail brands prove there are many untapped opportunities in the year ahead. Marketing and Client Relations. 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. O's is 13,000 sq ft vs. 26,000 for SRC and 35,000 for STOR. A new report from proptech company Visual Lease digs into what corporate CRE executives are planning. Our typical financing zone ranges from from $5M to $500M. 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. As per the report, Oak . Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Oak Street specializes in providing flexible capital solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. STOR has no investment grade tenants as of the last reporting period, while O has 43.2%. Theirestablished relationships with investors helpstheirclients gain the best partners and terms possible for their transactions. 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. Additionally, Mr. Milek has created risk rating systems,including the real time asset modeling & valuation models andhas extensive experience in developingloan policies and procedures. In providing flexible Capital oak street real estate capital ceo divisions and has six offices globally at Street. 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