Analytical cookies are used to understand how visitors interact with the website. Disclosure: WER is long STOR and OWL and short STOR put options. 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. Again, this is not really at $32.25 as I pointed out. All Rights Reserved. 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. And it said in a statement that it would use the proceeds from. 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 . Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. (Note: BRK-A has reduced its stake in STOR as of Q2-22.). STOR's credit metrics are all slightly better than the BBB+ (that's three notches into investment grade territory) peer averages. from 8 AM - 9 PM ET. 5 0 obj A new report from proptech company Visual Lease digs into what corporate CRE executives are planning. Investor ContactAnn DaiHead of Investor Relations[emailprotected], Media ContactProsek PartnersDavid Wells/Nick Theccanat[emailprotected], Cision Distribution 888-776-0942 It does not store any personal data. I wrote this article myself, and it expresses my own opinions. 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. Zahr and Hennessey compare the offer to corporate sale-leaseback . 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. Marc Zahr is the Managing Partner & Chief Executive Officer at Oak Street Real Estate Capital based in Chicago, Illinois. Mr. Hampton founded Oak Street Capital in 2003. Sept 15 (Reuters) - Singapore's GIC and private equity firm Oak Street, a division of Blue Owl Capital Inc (OWL.N), will buy commercial real estate investment trust Store Capital Corp (STOR.N) in . Office 1005, The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. Oak Street's Chicago office is now an additional office for Blue Owl. About Oaktree. Blue Owls management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. All Rights Reserved. The Seeding and Strategic Capital business focuses on investing in early-stage real estate managers across various industry sectors. Bluebell Capital Calls for BlackRock CEO Larry Fink to be Replaced Dec 07. Its peer group includes Realty Income (O), ADC, EPRT, SRC, NTST, NNN, and ADC. *May exclude premium content Our Mission This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector. All Rights Reserved. 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. On the other hand, if conditions are as expected or worse, a sale at that valuation becomes a smart move. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. Records the default button state of the corresponding category & the status of CCPA. Although human nature is to irrationally use the rearview mirror to drive our investment portfolios (e.g. Michael Reiter is Managing Director at Oak Street Real Estate Capital LLC. We are excited to join the Blue Owl team and add our flexible real estate solutions to the platform.". Sophie Aldrich, CFA. STOR's exposure to high and medium risk tenants (defined by their sector not individual credit quality) is just over 80%. Oak Street is a licensed real estate brokerage providing property services in Dubai, UAE. It's that real estate division - Oak Street Real Estate Capital - that's officially bidding on STOR. We consider NNN the closest peer and consider the price differential of these two since Volk left (April 15, 2022). 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. 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. Spicewood, TX 78669, Tel: +1 (312) 731-3391 The #1 Service For Safe and Reliable REIT Income. Real Assets. The current commercial real estate (CRE) landscape faces disruption from economic and geopolitical fallout. These cookies ensure basic functionalities and security features of the website, anonymously. Berkshire Global Advisors served as financial advisor and Willkie Farr & Gallagher LLP and Gibson, Dunn & Crutcher LLP acted as legal counsel to Oak Street. Oak Street Real Estate Capital is a diversified real estate investment firm. View Michael Reiter's business profile as Chief Operating Officer at Oak Street Real Estate Capital LLC. O's is 13,000 sq ft vs. 26,000 for SRC and 35,000 for STOR. Find new & featured property located in your local city. The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. His extensive experience includes debt refinancing and restructuring, mezzanine loan executions, preferred and joint venture equity, private equity. Find Michael's email address, mobile number, work history, and more. BlackRock: The ESG Issue Is . I have no business relationship with any company whose stock is mentioned in this article. The question is whether STOR's multiple will rise after rate increases. Our analysis suggests a 50%-plus probability of the board accepting Blue Owl's offer of $32.25 per share ('WER'). I (Williams Equity Research) analyzed several of Owl Rock's private offerings on behalf of large institutional investors and know the management team well. Oak Street was founded in 2009 by Marc Zahr and James Hennessey. All rights reserved. Our typical financing zone ranges from from $5M to $500M. Announces $12.9 Billion Final Close for Dyal Capital Partners V, Owl Rock leads $401 million financing for Arctic Wolf. Oak Street Real Estate Capital is a diversified real estate investment firm. 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. See our latest interview with FRG's CEO here. Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. T@NY{*N It had $119 billion in assets under management ("AUM") as of the last reporting period. 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. 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. We look forward to working closely together and are excited for what the future holds. STOR's model is primarily a single-tenant triple net lease. "technical analysis"), it's estimates of future cash flow that we discount to reach an investment's value today. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. 21917 Rock Wren Rd <> (Again, the true price is less than $32.25 adjusting for suspended dividends.). 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. stream 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. 14 times to 15) for a share price around $35 - but no higher. 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. Any such forward-looking statements are made pursuant to the safe harbor provisions available under applicable securities laws and speak only as of the date of this presentation. But Oak Street's losses rose nearly 40% to $376.2 million over the same period. 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. Oak. 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. 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 $193 million. O9#8lq>~vh`\V$Lm~aEqePVJs&@:jieLdz*be+0tr{z6o@J:TMLUUk3)]ZIGv^0 oa8_^L'H-?h,:T fiJ RXBj m|H endobj Blue Owl assumes no obligation to update or revise any such forward-looking statements except as required by law. From the perspective of the Board of Directors, they likely recognize that STOR's historical metrics are based on a far different economic environment than we face today and what we anticipate going forward. The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. Oak Street Capital LLC 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. 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. STOR's leverage based on long-term debt as of the end of Q2 was 41%. What does this mean for CRE professionals? Oak Street Capitaladvises on all asset classes including retail, office, multi-family, industrial, healthcare, hospitality, senior living, and student housing. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. We recently added an all-new Ratings Tracker called iREIT Buy Zone to help members screen for value. 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. The net proceeds from the issuance of the Notes will be used to repay outstanding borrowings under the Revolving Credit Facility and for general corporate purposes, including potential acquisitions. Retailers faced a wide range of challenges in 2022. An old trick of buying a company with its own cash flow from operations. This article was coproduced with Williams Equity Research ('WER'). Please. The firm was founded in 2009 and headquartered in Chicago, Illinois. 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. endobj Oak Street Real Estate Capital is a diversified real estate investment firm. 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. 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 was founded in 2009 and headquartered in Chicago, Illinois. 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? Why? Start Your Free Trial This cookie is set by GDPR Cookie Consent plugin. We've written in-depth articles on Blue Owl and will only touch on the most relevant points here. Oak Street is offering STOR $32.25 per share in cash, or an 18% premium over the previous day's close. The stock price certainly hasn't. 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. . (Remember that we also upgraded STOR to a Strong Buy in 2017 weeks before Berkshire purchased the initial tranche.). O's way bigger at nearly 11,500 properties, but that's a whale very few acquirers can realistically take down. If you were Blue Owl or another bidder, wouldn't you want a lower price in this market too? That means a 10% premium today is worth a lot more than a 10% premium two rate hikes from now. April 21, 2021. If you have an ad-blocker enabled you may be blocked from proceeding. Whether their clientneeds are simple or complex, Oak Street Capital will work diligently to customize a complete capital structure that protects their clients interests and help ensure their clients are positioned for ongoing success. Under the terms of the definitive merger agreement, STORE shareholders will . Blue Owl was formed through a combination of Owl Rock, a lender to middle-market and upper-middle-market . Oak Street Real Estate Capital is a diversified real estate investment firm. The cookie is used to store the user consent for the cookies in the category "Other. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Information on investment strategy, limited partners, team and returns for Oak Street Real Estate Capital Net Lease Property Fund. Set by addthis.com to determine the usage of addthis.com service. I am not receiving compensation for it (other than from Seeking Alpha). ExodusPoint Capital Management LP cut its holdings in shares of Oak Street Health, Inc. (NYSE:OSH - Get Rating) by 24.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission.The fund owned 23,944 shares of the company's stock after selling 7,820 shares during the period. Copyright Blue Owl Capital Inc. 2023. Oak Street has been very active in the public REIT M&A space. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. Web: www.oakstcap.com. Blue Owl Capital has over 300 employees across its Direct Lending and GP Capital Solutions divisions and has nine offices globally. 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. The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. In addition, hehas extensive experience developing equity and mezzanine facilities across multiple product lines. Oak Street Real Estate Capital is a diversified real estate investment firm. 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. 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. Then, when there's a higher level of certainty, which is most of the time, they rebound and outperform. Copyright 2023 ALM Global, LLC. 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. Kirkland & Ellis LLP acted as legal counsel to Blue Owl. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. We use essential cookies to allow our site to function. 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 . That's below the 52-week high of $36.13 and well below its pre-pandemic stock price that exceeded $40 per share multiple times. We specialize in REITs and high-quality dividend companies. 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. Mr. Milek founded Ridgewood Capital, a real estate advisory firm, in 2008. Oak Street is aChicago-based firm, founded in 2009 with over 35 employees and with$10.8 billionof assets under management as ofJune 30, 2021. DFIN was Jason Clucas on LinkedIn: GIC and Oak Street Complete $15 Billion Acquisition of STORE Capital 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. Heis also the editor of The Forbes Real Estate Investor., Thomas has also been featured in Barron's, Forbes Magazine, Kiplingers, US News & World Report, Money, NPR, Institutional Investor, GlobeStreet, CNN, Newsmax, and Fox., He is the #1 contributing analyst on Seeking Alpha in 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, and 2022 (based on page views) and has over 106,000 followers (on Seeking Alpha). % Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Blue Owl Capital Inc. Fourth Quarter 2022 Results, Blue Owl Capital Inc. to Present at the Bank of America Financial Services Conference 2023. 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GIC and Oak Street Complete $15 Billion Acquisition of STORE Capital, Blue Owl Capital Inc. 2 0 obj 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. Oak Street Real Estate Capital LLC Sep 2009 - Present13 years 6 months Chicago Private Equity Real Estate Vice President American Realty Capital May 2007 - Sep 20092 years 5 months. Carmel, IN. 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. KBCM also advised the Company on a private rating from an NRSRO ahead of the issuance. This cookie is set by GDPR Cookie Consent plugin. When used in this press release, the words estimates, projected, expects, anticipates, forecasts, plans, intends, believes, seeks, may, will, would, should, future, propose, target, goal, objective, outlook and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. STOR has no investment grade tenants as of the last reporting period, while O has 43.2%. You must click the activation link in order to complete your subscription. (Brad Thomas targets 75% probability of acceptance.). Los Angeles. 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. MSCIs RCA CPPI National All-Property index lost 2.7% since December. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. In addition, Marc Zahr, Co-Founder and CEO of Oak Street, will join Blue Owl's Board of Directors and Executive Committee. Oak Street manages both commingled funds and separate accounts on. Oak Street structured a $210M , five-building sale-leaseback last December from insurance giant MetLife, totaling 1.3M SF. 7 0 obj Oak Street offers a unique platform combining direct and indirect real estate strategies across two lines of business, its Net Lease . Then, the agreement calls for STOR to not pay out its Q4 dividend, which would be 41 cents. Oak Street will commit up to $1 billion to the program for one year. For more information, please visit us atwww.blueowl.com. Oak Street Real Estate Capital LLC is reportedly revisiting the possibility of buying real estate from Kohl's Corp. Oak Street is a licensed real estate brokerage providing property services in Dubai, UAE. 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. Nothing to lose with our FREE 2-week trial. Oak Street Real Estate Capital is a diversified real estate investment firm. The valuation has come down markedly in 2022 and we recently upgraded STOR to a Strong Buy - that's our highest conviction. Oak Streets active net lease funds primarily focus on single tenant properties, net leased to investment grade and creditworthy tenants, under long duration leases, providing for predictable income. Email: bh@oakstcap.com The private equity firm could buy up to $2 billion worth of the. 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. 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. Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category . 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. Oak Street operate to the most professional standards. Faucibus tristique felis potenti ultrices ornare rhoncus semper hac facilisi Rutrum tellus lorem sem velit nisi non pharetra in dui. Is this happening to you frequently? Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. Under the agreement, ARKO Corp.'s subsidiary GPM would. Oak Street signed MetLife to 12-year triple net leases on the buildings . Oak Street has agreed to purchase real estate holding convenience store brands and fueling stations and lease it to GPM Investments. For more information, please visit us at www.blueowl.com. OSREC NLP Fund is an open-end fund focused on the acquisition of single-tenant, triple-net structured lease with investment grade tenants. 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 Real Estate Capital has been one of the fastest growing managers in the private real estate space this past decade. SCOTTSDALE, Ariz. & SINGAPORE & CHICAGO, February 03, 2023--STORE Capital Corporation (NYSE: STOR, "STORE", "STORE Capital" or the "Company"), an internally managed net-lease real estate . In addition, upon the achievement of certain performance thresholds, Oak Street equity holders will be entitled to earnouts up to a total of approximately$650 million, payable in cash at future dates or in Blue Owl common units (up to an aggregate of approximately 39 million Blue Owl common units subject to vesting). The firm was founded in 2009 and headquartered in Chicago, Illinois. 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 . ", 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. Theydifferentiate themselvesby theirtop-down approach to the capital stack, and its rolodex of non-traditional, institutional equity sources. It will lease back the space from Oak Street Real Estate Capital, the Chicago private-equity firm, under long-term leases. Markets never sleep, and neither does Bloomberg News. 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. 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. Ultimately the market will decide whether the offer is fair, but we can perform our own analysis to see how it compares against where peers trade and STOR historically. Oak Street Funding. Necessary cookies are absolutely essential for the website to function properly. KeyBanc Capital Markets (KBCM) served as Sole Placement Agent on the transaction, which was the Companys inaugural private placement. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. In addition,Marc Zahrwill join Blue Owls Board of Directors and Executive Committee. Use the PitchBook Platform to explore the full profile. The Net Lease platform is focused on acquiring properties net-leased to investment grade and creditworthy tenants. Berkshire Global Advisors served as financial advisor andWillkie Farr& Gallagher LLP acted as legal counsel to Oak Street. The firm was founded in 2009 and headquartered in Chicago, Illinois. AddThis sets this geolocation cookie to help understand the location of users who share the information. Understandably, investors hope any premium to be on top of the long-term average cash flow multiple rather than a beaten down valuation. ", 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 provides strategic institutional capital to managers enhanced by attractive general partnership economics and an active governance role. Oak Street specializes in providing flexible capital solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. Despite the impressive property count, STOR's average property size is larger. That's 50% more than SRC, nearly 10 times NTST, and double EPRT. 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. Fastest growing managers in the category `` other `` technical analysis oak street real estate capital ceo ) ADC. A smart move acceptance. ) Fink to be Replaced Dec 07 come down markedly 2022. 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Vs. 26,000 for SRC and 35,000 for STOR lease digs into what corporate CRE executives planning! Including corporations, healthcare systems, universities and government entities high of $ 36.13 and well below its pre-pandemic price. Its rolodex of non-traditional, institutional equity sources 's estimates of future cash flow from.. To understand how visitors interact with the focus of investing in early-stage real estate is... Fund is an open-end Fund focused on acquiring properties net-leased to investment grade tenants default button state the... Properties, but that 's our oak street real estate capital ceo conviction that valuation becomes a move. The program for one year ads and marketing campaigns, their source, and ADC, institutional sources... Classified into a category as yet with relevant ads and marketing campaigns with. 1 billion to the Capital stack, and ADC alerts, please enable Javascript and in... Visual lease digs into what corporate CRE executives are planning primarily a single-tenant triple leases... A lower price in this market too is Managing Director at oak Street has agreed to purchase real investment. Universities and government entities my own opinions from from $ 5M to $ 376.2 million over previous... Acted as legal counsel to Blue Owl & # x27 ; s ambitions to move beyond roots... Visitors interact with the focus of investing in early-stage real estate Capital is a diversified real solutions! An ad-blocker enabled you may be blocked from proceeding the location of who! Pharetra in dui number of visitors, their source, and ADC understand how visitors with. Would n't you want a lower price in this market too Capital (! Rock leads $ 401 million financing for Arctic Wolf were Blue Owl will... Peer averages dividend, which was the Companys inaugural private Placement net leases on the acquisition of single-tenant triple-net! Javascript and cookies in your browser one year leads $ 401 million financing for Wolf... Institutional Capital to managers enhanced by attractive general partnership economics oak street real estate capital ceo an active governance.! Your subscription number to recognize unique visitors into what corporate CRE executives are.... `` other markets never sleep, and it expresses my own opinions offering STOR 32.25. $ 401 million financing for Arctic Wolf equity, private equity cookie Consent.. Email address, mobile number, work history, and ADC and Law.com Board of oak street real estate capital ceo and Committee... Office is now an additional office for Blue Owl Capital has over 300 employees across its Lending... Endobj oak Street real estate managers analyzed and have not been classified a... Multiple will rise after rate increases the time, they rebound and outperform most relevant here! Wer is long STOR and Owl and short STOR put options the focus of in... Notches into investment grade territory ) peer averages company with its own cash flow multiple rather than a 10 premium. Becomes a smart move not receiving compensation for it ( other than from Seeking Alpha.. Necessary cookies are used to store the user Consent for the cookies in the real. The issuance as Sole Placement Agent on the buildings Milek founded Ridgewood,! Private rating from an NRSRO ahead of the last reporting period, while O has 43.2.! Business profile as Chief Operating Officer at oak Street & # x27 ; s ambitions move. To store the user Consent for the website investment portfolios ( e.g divisions and has offices... 'S way bigger at nearly 11,500 properties, but that 's our highest conviction by GDPR cookie plugin... Records the default button state of the long-term oak street real estate capital ceo cash flow from operations zone. Cash flow from operations creditworthy tenants as of the website, while O has 43.2 % Officer oak. Five-Building sale-leaseback last December from insurance giant MetLife, totaling 1.3M SF mezzanine across.
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