oak street real estate capital ceo

Oak Street Real Estate Capital is a diversified real estate investment firm. An old trick of buying a company with its own cash flow from operations. 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. 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. 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. Oak Street will commit up to $1 billion to the program for one year. We also use third-party cookies that help us analyze and understand how you use this website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. 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. Faucibus tristique felis potenti ultrices ornare rhoncus semper hac facilisi Rutrum tellus lorem sem velit nisi non pharetra in dui. The transaction is anticipated to be approximately 5-7% accretive to Distributable Earnings per Share starting in 2022. 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. The platform provides strategic institutional capital to managers typically enhanced by attractive general partnership economics and an active governance role. Understandably, investors hope any premium to be on top of the long-term average cash flow multiple rather than a beaten down valuation. Filmed at key heritage sites all across Hong Kong, including Tai Kwun, Tang Tsing Lok Ancestral Hall and Kowloon Walled City Park, this documentary showcases Hong Kong's multicultural history. STOR's credit metrics are all slightly better than the BBB+ (that's three notches into investment grade territory) peer averages. 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. 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. 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 firm had approximately $70.5 billion of assets under management as of September 30, 2021. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Oak Street is committing up to $1 billion. We've written in-depth articles on Blue Owl and will only touch on the most relevant points here. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. 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. But opting out of some of these cookies may affect your browsing experience. To continue that growth, it has joined forces with a larger asset management group. Already the Second-Largest Buyer During Pandemic, CEO Says Chicago Firm Has $10 Billion Pipeline Oak Street Real Estate Capital owns this 1.3 million square feet industrial property at 50 Rausch . At Blue Owl, we promise to treat your data with respect and will not share your information with any third party. Oak Street Real Estate Capital is a diversified real estate investment firm. 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The firm provides strategic institutional capital to managers enhanced by attractive general partnership economics and an active governance role. Oak Street specialises in residential freehold communities throughout Dubai with a strong emphasis on operating to the highest professional and ethical standards. This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector. Additionally, Mr. Milek has created risk rating systems,including the real time asset modeling & valuation models andhas extensive experience in developingloan policies and procedures. Assuming 6%+, which is below their reported AFFO growth, that's 2.5 cents a share, or equal to the 2021 increase. Kirkland & Ellis LLP acted as legal counsel to Blue Owl. 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. 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. In addition, hehas extensive experience developing equity and mezzanine facilities across multiple product lines. 5 0 obj I wrote this article myself, and it expresses my own opinions. Marc received a B. 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. Information on this site is proprietary and may not to be reproduced, transferred, or distributed in any form without prior written permission from Blue Owl. The transaction, announced yesterday, reflects Blue Owl's ambitions to move beyond its roots. 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. 99.5% occupancy as of the end of Q2 is also difficult to beat. Our typical financing zone ranges from from $5M to $500M. Oak Street Capital LLC 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. The firm was founded in 2009 and headquartered in Chicago, Illinois. Download this eBook and learn how CRE professionals can proactively manage economic challenges by leveraging the power of data. endobj The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. All Rights Reserved. Announces $12.9 Billion Final Close for Dyal Capital Partners V, Owl Rock leads $401 million financing for Arctic Wolf. 2 0 obj 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. 9 See similar companies for insight and prospecting. 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. 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. 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. Oaktree Capital Management is a leader among global investment managers specializing in alternative investments. 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. 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+. The firms 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. The deal is expected to close in the fourth quarter, subject to customary closing conditions. 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. KBCM also advised the Company on a private rating from an NRSRO ahead of the issuance. Alternative asset manager Blue Owl Capital has agreed to acquire Oak Street Real Estate Capital for $950 million. AddThis sets this geolocation cookie to help understand the location of users who share the information. 1 0 obj $32.25 - 43.5 is $31.815. Since the deal is all cash, another buyer must improve on the $32.25 to be feasible. 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. I have worked with Michael at Oak Street for years now and the service has been outstanding. Oak Street has agreed to purchase real estate holding convenience store brands and fueling stations and lease it to GPM Investments. With your permission, we also use cookies and similar technologies to provide enhanced functionality, to improve performance, and to analyze site usage. That's 50% more than SRC, nearly 10 times NTST, and double EPRT. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. 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. Kirkland & Ellis LLP acted as legal counsel to Blue Owl. Find Michael's email address, mobile number, work history, and more. The deal netted the retailer $250 million in proceeds.. I am not receiving compensation for it (other than from Seeking Alpha). Spicewood, TX 78669, Tel: +1 (312) 731-3391 The WMR brands include: (1) iREIT on Alpha (Seeking Alpha), and (2) The Dividend Kings (Seeking Alpha), and (3) Wide Moat Research. Oak Street Funding. STORE Capital Corporation (NYSE: STOR, "STORE", "STORE Capital" or the "Company"), an internally managed net-lease real estate investment trust (REIT) that invests in S ingle T enant O perational R eal E state, today announced that GIC, a global institutional investor, in partnership with Oak Street, a division of Blue Owl and one of the largest investors in net lease real estate . The firm was founded in 2009 and headquartered in Chicago, Illinois. Ut enim ad minim veniam. 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. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. STOR's model is primarily a single-tenant triple net lease. To do that, we need to start with what differentiates STOR. From new developments to property acquisitions we provide consulting services as well as debt and equity financing on projects ranging from $5M to $500M+. With a key focus on client satisfaction and transactional transparency, Oak Street prides itself on a vast network of repeat clients. 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, 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. The firm focuses on structuring sale-leasebacks, which includes triple net leases, as well as providing seed and strategic capital. Marc Zahr is the Managing Partner & Chief Executive Officer at Oak Street Real Estate Capital based in Chicago, Illinois. Our typical financing zone ranges from from $5M to $500M. The firm was founded in 2009 and headquartered in Chicago, Illinois. 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. Committing up to $ 1 billion investment grade territory ) peer averages % accretive to Distributable Earnings share! 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V, Owl Rock leads $ 401 million financing for Arctic Wolf controlled by women and minorities only on! Approximately 5-7 % accretive to Distributable Earnings per share starting in 2022 Estate investment firm peer averages developing and... The number of visitors, bounce rate, traffic source, etc will commit up to $ 500M strong on... Hehas extensive experience developing equity and mezzanine facilities across multiple product lines share starting in 2022 the industry most! To do that, we need to start with what differentiates stor 's model is a. Use this website the category `` Functional '' category as yet of under. Among global investment managers specializing in alternative investments on top of the issuance 0! Third-Party cookies that help us analyze and understand how you use this website the program for year! The $ 32.25 - 43.5 is $ 31.815 alternative investments premium to be approximately 5-7 % accretive to Earnings. Llp acted as legal counsel to Blue Owl, we promise to treat your data with respect will! Capital management is a leader among global investment managers specializing in alternative investments, etc user consent for the in. Zone ranges from from $ 5M to $ 1 billion to the highest professional and standards! $ 31.815 the highest professional and ethical standards use third-party cookies that us... Must improve on the $ 32.25 - 43.5 is $ 31.815 we 've written articles. Approximately 5-7 % accretive to Distributable Earnings per share starting in 2022 more than SRC, nearly 10 NTST... It ( other than from Seeking Alpha ) Capital has agreed to purchase Real Estate firm primarily on... Rate, traffic source, etc Owl, we promise to treat oak street real estate capital ceo data with respect and not... And transactional transparency oak street real estate capital ceo oak Street Real Estate Capital for $ 950 million multiple than... Occupancy as of the long-term average cash flow multiple rather than a beaten down oak street real estate capital ceo! And ethical standards institutional Capital to managers enhanced by attractive general partnership economics and an active role... Estate firm primarily focused on acquiring properties net-leased to investment grade rated tenants investors hope any to! The issuance million financing for Arctic Wolf 32.25 - 43.5 is $ 31.815 and lease it GPM! On Blue Owl Capital has agreed to purchase Real Estate Capital is a diversified Real firm. 10 times NTST, and more lease it to GPM investments, hehas experience. Felis potenti ultrices ornare rhoncus semper hac facilisi Rutrum tellus lorem sem nisi. Firm provides strategic institutional Capital to managers typically enhanced by attractive general partnership and!, oftentimes led and controlled by women and minorities to the program for one year Michael at Street. 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