This cookie is set by GDPR Cookie Consent plugin. vJM;P|AS!U|}6&fMOw89_KP4iOvDp6mbf }@TcGD6 M>Qadx"D(r?HsNL rH -b%%(%9l6$gC)]!mY74F|LQ ZF?;%0@~I I have worked with Michael at Oak Street for years now and the service has been outstanding. Blue Owl Capital's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. Oak Street Real Estate Capital is a diversified real estate investment firm. STOR strikes a great balance of a large, established platform that isn't too big. Oak Street Real Estate Capital, LLC ("Oak Street") is a private equity real estate firm based in Chicago, Illinois. His extensive experience includes debt refinancing and restructuring, mezzanine loan executions, preferred and joint venture equity, private equity. Under the agreement, ARKO Corp.'s subsidiary GPM would. 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. 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 . It's that real estate division - Oak Street Real Estate Capital - that's officially bidding on STOR. Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. Oak Street will commit up to $1 billion to the program for one year. Sign In Now, This is Why Multifamily Developers Have Soured on the Sunbelt, CRE Prices Could Fall 40% This Year in an Adverse Fed Planning Scenario, CRE Prices Slide at a Rate Not Seen Since 2010, Experts Keep Guessing at When the US Will See a Recession, Bed Bath & Beyond Closing All Stores in Canada. Oaktree Capital Management is a leader among global investment managers specializing in alternative investments. Faucibus tristique felis potenti ultrices ornare rhoncus semper hac facilisi Rutrum tellus lorem sem velit nisi non pharetra in dui. It had $119 billion in assets under management ("AUM") as of the last reporting period. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. The cookie is used to store the user consent for the cookies in the category "Analytics". 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. The Net Lease platform is focused on acquiring properties net-leased to investment grade and creditworthy tenants. 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. Townhouse | Five Palm | 5 Star Facilities, Custom Built | N Frond | Skyline View | Must View, Exclusive | Upgraded | Fully Furnished | VOT. OSREC NLP Fund is an open-end fund focused on the acquisition of single-tenant, triple-net structured lease with investment grade tenants. This press release includes certain non-GAAP financial measures, including Distributable Earnings per Share, that are not prepared in accordance with accounting principles generally accepted inthe United States(GAAP) and that may be different from non-GAAP financial measures used by other companies. In addition, hehas extensive experience developing equity and mezzanine facilities across multiple product lines. 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 has been one of the fastest growing managers in the private real estate space this past decade. 6 0 obj Oak Street is offering STOR $32.25 per share in cash, or an 18% premium over the previous day's close. Blue Owl Capital's management team is comprised of seasoned investment professionals with more than 25 years of experience building alternative investment businesses. Although human nature is to irrationally use the rearview mirror to drive our investment portfolios (e.g. 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. Our competitive advantages include our experienced team of investment professionals, a global platform and a unifying investment philosophy that is complemented by a set of core business principles. A supplemental investor presentation on the transaction is available on the Investor Resources section of Blue Owls website atwww.blueowl.com. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. The firm was founded in 2009 and headquartered in Chicago, Illinois. Start Your Free Trial The firm was founded in 2009 and headquartered in Chicago, Illinois. Brad Thomas is the CEO of Wide Moat Research ("WMR"), a subscription-based publisher of . Cap rates are rising, and while that creates opportunities for lucrative acquisitions, it also means pain for "bond-like" real estate investments. xT]o0}pIMk;*RvPT6:xnyqtnZ\`|y Oak Street Capital assists sponsors in accessing equity financing for commercial real estate joint ventures. Find new & featured property located in your local city. The firm was founded in 2009 and headquartered in Chicago, Illinois. 9 See similar companies for insight and prospecting. If you have an ad-blocker enabled you may be blocked from proceeding. 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. About Us Financing Areas Contact Us Marc Zahr, Oak Street Real Estate Capital LLC: Profile and Biography - Bloomberg Markets Live Now Bloomberg TV+ Bloomberg Surveillance Bloomberg Surveillance with Tom Keene,. 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. 21917 Rock Wren Rd . Your article was successfully shared with the contacts you provided. The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. From new developments to property acquisitions we provide consulting services as well as debt and equity financing on projects ranging from $5M to $500M+. <> The WMR brands include: (1) iREIT on Alpha (Seeking Alpha), and (2) The Dividend Kings (Seeking Alpha), and (3) Wide Moat Research. (Podcast), CEO/Mng Dir/Co-Founder, Oak Street Real Estate Capital LLC. In August 2021, Oak Street acquired The Bow in Calgary for $1.2 billion. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. I have no business relationship with any company whose stock is mentioned in this article. The cookie is used to store the user consent for the cookies in the category "Performance". Theirestablished relationships with investors helpstheirclients gain the best partners and terms possible for their transactions. 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. Oak Street specializes in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. 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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 firm focuses on structuring. The transaction is anticipated to be approximately 5-7% accretive to Distributable Earnings per Share starting in 2022. Oak Street Funding is a lender that understands the unique needs and market conditions of retail agencies, MGA's , wholesalers . Our Mission 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. Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category . 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 * 3 Principals See who the company's key decision makers are 9 Contacts Reach the right people with access to detailed contact information. The stock price certainly hasn't. <>/Metadata 3336 0 R/ViewerPreferences 3337 0 R>> Oak Street Capital LLC endobj CVS' buyout price is about 73% higher than Oak Street's stock market value before reports first surfaced in . Past performance is not a guide to future results. Oak Street Real Estate Capital is a diversified real estate investment firm. With more than forty years of successful real estate and financing expertise, Oak Street Capital has financed more than $2 billion for its clients. Theydifferentiate themselvesby theirtop-down approach to the capital stack, and its rolodex of non-traditional, institutional equity sources. I have no business relationship with any company whose stock is mentioned in this article. 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. Under the agreement, ARKO Corp.s subsidiary GPM would own and operate the acquired businesses and Oak Street would own the real estate and lease it to GPM. . Oak Street Real Estate Capital is a diversified real estate investment firm. CEO up until two quarters ago (no one at Wide Moat Research has any affiliation with STORE Capital outside of owning common equity). The #1 Service For Safe and Reliable REIT Income. 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 . All Rights Reserved. BlackRock: The ESG Issue Is . 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. Los Angeles. A portfolio with a 13-plus year weighted average lease term, ~2% annual rent escalators (some track CPI, but that tends to lag "real" inflation in our experience), and no concentration in investment grade rated tenants is not necessarily what you want going into a period of sustained inflation, higher interest rates, and a recession. Yet, these 10 retail brands prove there are many untapped opportunities in the year ahead. But the deal would be contingent on Oak Street raising rents 1.5% annually, and for its backers to realize a 7.25% initial return. 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). endobj Oak Street Funding. 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. This cookie is set by Windows Azure cloud, and is used for load balancing to make sure the visitor page requests are routed to the same server in any browsing session. *May exclude premium content 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. STOR's exposure to high and medium risk tenants (defined by their sector not individual credit quality) is just over 80%. 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. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Necessary cookies are absolutely essential for the website to function properly. $32.25 - 43.5 is $31.815. Already have an account? STOR's model is primarily a single-tenant triple net lease. We specialize in REITs and high-quality dividend companies. 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. 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