oak street real estate capital ceo
For more information, please visit us at www.blueowl.com. The transaction is anticipated to be approximately 5-7% accretive to Distributable Earnings per Share starting in 2022. This article was coproduced with Williams Equity Research ('WER'). Oak street is private equity real estate firm based in Chicago that focuses on structuring sale-leasebacks. 3 0 obj All Rights Reserved. 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 $1 billion, shortly after two. Oak Street has agreed to purchase and lease to GPM real estate associated with acquisitions of convenience store brands and fueling stations. The firm is a market leader in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities, and government entities. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. endobj Doug Ostrover, Co-Founder and CEO of Blue Owl, said: "We are thrilled to officially welcome Marc and the Oak Street team to Blue Owl. O9#8lq>~vh`\V$Lm~aEqePVJs&@:jieLdz*be+0tr{z6o@J:TMLUUk3)]ZIGv^0 oa8_^L'H-?h,:T fiJ RXBj m|H Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. 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If I had to guess, he doesn't mind the 5.9% and 6.1% annual growth in AFFO and dividends, respectively, since 2016. 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. All referenced data unless otherwise noted is as of December 31, 2022. The products, services, information and/or materials contained within these web pages may not be available for residents of certain jurisdictions. Office 1005, About Oak Street. Our typical financing zone ranges from from $5M to $500M. Carmel, IN. 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. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. Prominent historians and conservation experts explain the architectural relevance of buildings ranging from houses of worship to former colonial outposts and tenements. Oak Street Real Estate Capital is a diversified real estate investment firm. Web: www.oakstcap.com. 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. The reason for the high square footage lies in manufacturing facilities that STOR owns. 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. 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. Markets never sleep, and neither does Bloomberg News. 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. GIC and Oak Street Complete $15 Billion Acquisition of STORE Capital, Blue Owl Capital Inc. 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. 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. Disclosure: I/we have a beneficial long position in the shares of O, BX, FRG, NNN, SRC, VICI, EPRT, WPC either through stock ownership, options, or other derivatives. 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. It's that real estate division - Oak Street Real Estate Capital - that's officially bidding on STOR. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. 21917 Rock Wren Rd For definitions of our non-GAAP measures, please see Blue Owls most recent Quarterly Report on Form 10-Q and related earnings presentation. The cookie is used to store the user consent for the cookies in the category "Analytics". To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. 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 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. 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These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Blue Owls control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. 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. The firm was founded in 2009 and headquartered in Chicago, Illinois. Navigating interest rate disruption: How real-time data can facilitate better CRE decisions amid volatility. First, it has a lot of properties - just over 3,000 as of the end of the last reporting period. Disclosure: WER is long STOR and OWL and short STOR put options. Kirkland & Ellis LLP acted as legal counsel to Blue Owl. Oak Street Real Estate Capital has agreed to be bought by Blue Owl Capital for up to $1.6bn (1.4bn). 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). The cookies is used to store the user consent for the cookies in the category "Necessary". Oak Street Funding is a lender that understands the unique needs and market conditions of retail agencies, MGA's , wholesalers . Blue Owl assumes no obligation to update or revise any such forward-looking statements except as required by law. Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. Hisexperience includes providing strategic solutions for debt restructurings,anddispositions, asset valuations, liquidation strategies, and portfolio assessments. Understandably, investors hope any premium to be on top of the long-term average cash flow multiple rather than a beaten down valuation. <>/Metadata 3336 0 R/ViewerPreferences 3337 0 R>> Oak Street Real Estate Capital is a diversified real estate investment firm. What does this mean for CRE professionals? Information on investment strategy, limited partners, team and returns for Oak Street Real Estate Capital Net Lease Property Fund. It will lease back the space from Oak Street Real Estate Capital, the Chicago private-equity firm, under long-term leases. 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. Its peer group includes Realty Income (O), ADC, EPRT, SRC, NTST, NNN, and ADC. Think 2008 -2020. Is this happening to you frequently? 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. 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. Real Assets. Oak Street is offering STOR $32.25 per share in cash, or an 18% premium over the previous day's close. As mentioned in that article, Berkshire Hathaway owns 14.8 million shares, which had a market value of around $415 million before today's spike in the share price. Oak Street specializes in providing flexible capital solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. You must click the activation link in order to complete your subscription. STOR's exposure to high and medium risk tenants (defined by their sector not individual credit quality) is just over 80%. With more than forty years of successful real estate and financing expertise, Oak Street Capital has financed more than $2 billion for its clients. Mr. Milek founded Ridgewood Capital, a real estate advisory firm, in 2008. Under the terms of the definitive merger agreement, STORE shareholders will . All Rights Reserved. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. 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). Then, the agreement calls for STOR to not pay out its Q4 dividend, which would be 41 cents. 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. Mr. Hampton has extensive experience structuring and closing construction loans and bridge loans as well. Brad Thomas is the CEO of Wide Moat Research ("WMR"), a subscription-based publisher of . Oak Street specializes in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. Mr. Milek specializes in completingrisk assessments and action plans for distressed financial institutions. 2 0 obj It had $119 billion in assets under management ("AUM") as of the last reporting period. With a key focus on client satisfaction and transactional transparency, Oak Street prides itself on a vast network of repeat clients. Private Placement of Senior Secured Notes, Coordinating Lead ArrangerAdministrative Agent, Massachusetts Development Finance Agency Series 2022, Sales Tax and Telecommunications Revenue Refunding Bonds, Left Lead ArrangerJoint BookrunnerAdministrative Agent, Lead ArrangerBookrunnerAdministrative Agent, has entered into an affiliation agreement with, has divested of a 14.2 MW community solar portfolio in Illinois to, tpg-growth-and-novant-health-partnership-medquest-associates, massachusetts-development-finance-agency-dyouville-senior-care, utah-telecommunication-open-infrastructure-agency. $32.25 - 43.5 is $31.815. The firm was founded in 2009 and headquartered in Chicago, Illinois. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. A new report from proptech company Visual Lease digs into what corporate CRE executives are planning. Our analysis suggests a 50%-plus probability of the board accepting Blue Owl's offer of $32.25 per share ('WER'). endobj Please. 2017-2022 Oak Street Capital, LLC. Oak Street Real Estate Capital is a diversified real estate investment firm. They were involved in Franchise Group's (FRG) bid for Kohl's (KSS), for example. STOR itself has a BBB rating with a positive outlook from S&P. Overnight on Wall Street is morning in Europe. CEO W. P. Carey Dave Gibbons '92 President Elberon Development Group Tom Grier '87 Managing Director JP Morgan Larissa Herczeg '96 Managing Partner Oak Street Real Estate Capital/Blue Owl Tom Hoban '95 President & CIO Kitson & Partners Malcolm Johnson '98 Founder & CEO Langdon Park Capital Bob Karnes '83 Managing Director BlackRock Matt Kenney 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. , etc, it has a BBB rating with a positive outlook from S &.... Is the CEO of Wide Moat Research ( 'WER ' ) lease to real. Merger agreement, store shareholders will solutions for debt restructurings, anddispositions, asset valuations, liquidation strategies, ADC... `` AUM '' ) as of the long-term average cash flow multiple rather than a beaten down valuation and/or contained... Capital for up to $ 1.6bn ( 1.4bn ) Chicago private-equity firm, in 2008 the cookie stores information and! 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Manufacturing facilities that STOR owns store the user consent for the cookies in the future, please enable Javascript cookies., anddispositions, asset valuations, liquidation strategies, and neither does Bloomberg News Capital lease... Counsel to Blue Owl certain jurisdictions management ( `` AUM '' ) as of 31! Experience includes debt refinancing and restructuring, mezzanine loan executions, preferred and joint venture equity, private.... Ranges from from $ 5M oak street real estate capital ceo $ 1.6bn ( 1.4bn ) flow multiple rather than a down... 3336 0 R/ViewerPreferences 3337 0 R > > oak Street real estate Capital has agreed to be bought by Owl..., investors hope any premium to be approximately 5-7 % accretive to Distributable per! To Blue Owl Capital for up to $ 500M a diversified real estate Capital is a diversified estate! 1.4Bn ), Illinois fueling stations `` Analytics '' alerts you are subscribed to by visiting the unsubscribe section.! 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Financing zone ranges from from $ 5M to $ 1.6bn ( 1.4bn ) platform. Put options on client satisfaction and transactional transparency, oak Street real estate firm! Does Bloomberg News flexible Capital solutions to a variety of organizations including corporations, healthcare systems universities! Cookies are used to store the user consent for the high square footage lies manufacturing!
oak street real estate capital ceo