(See our deep dive on Blackstone's private REIT here.). The firm was founded in 2009 and headquartered in Chicago, Illinois. Download this whitepaper to learn which top retail CRE brands are poised for big things in 2023. <>/XObject<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 720 540] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> All Rights Reserved. With more than forty years of successful real estate and financing expertise, Oak Street Capital has financed more than $2 billion for its clients. Oak Street Real Estate Capital is a diversified real estate investment firm. We use essential cookies to allow our site to function. Navigating interest rate disruption: How real-time data can facilitate better CRE decisions amid volatility. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. Our analysis suggests a 50%-plus probability of the board accepting Blue Owl's offer of $32.25 per share ('WER'). 21917 Rock Wren Rd Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. Although human nature is to irrationally use the rearview mirror to drive our investment portfolios (e.g. Already have an account? 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). 2 0 obj Oak Street has been very active in the public REIT M&A space. Blue Owl Capital has over 300 employees across its Direct Lending and GP Capital Solutions divisions and has nine offices globally. As a company valued everyday by the stock market, that matters. The firm was founded in 2009 and headquartered in Chicago, Illinois. Oaktree Capital Management is a leader among global investment managers specializing in alternative investments. 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. In September 2022, Oak Street and GIC agreed to acquire Store Capital for $14 Billion. Marketing and Client Relations. Since the deal is all cash, another buyer must improve on the $32.25 to be feasible. Corporate Relations Get the big picture on a company's affiliates and who they do business with. "Illini Angels" is recruiting . Why? Oak Street Real Estate Capital Katie Byrne Senior Manager WIPFLI Tracy Treger Principal Syndicated Equities William Exeter Chief Executive Officer Exeter 1031 Exchange Services Moderator. Michael Reiter is Managing Director at Oak Street Real Estate Capital LLC. 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. Please disable your ad-blocker and refresh. 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 . STOR's model is primarily a single-tenant triple net lease. Marc Zahr, Oak Street Real Estate Capital LLC: Profile and Biography - Bloomberg Markets Live Now Bloomberg TV+ Bloomberg Surveillance Bloomberg Surveillance with Tom Keene,. 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. 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Oak Street Real Estate Capital is a diversified real estate investment firm. OSREC NLP Fund is an open-end fund focused on the acquisition of single-tenant, triple-net structured lease with investment grade tenants. The Net Lease platform is focused on acquiring properties net-leased to investment grade and creditworthy tenants. The current commercial real estate (CRE) landscape faces disruption from economic and geopolitical fallout. Ut enim ad minim veniam. Under the terms of the definitive merger agreement, STORE shareholders will . 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. We specialize in REITs and high-quality dividend companies. O's is 13,000 sq ft vs. 26,000 for SRC and 35,000 for STOR. Then, the agreement calls for STOR to not pay out its Q4 dividend, which would be 41 cents. 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. Oak Street Capital LLC Before we get into the specifics of the acquisition, we need to understand the buyer's perspective. 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. Copyright 2023 ALM Global, LLC. 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. Oak Street Real Estate Capital is a diversified real estate investment firm. But Oak Street's losses rose nearly 40% to $376.2 million over the same period. STOR's exposure to high and medium risk tenants (defined by their sector not individual credit quality) is just over 80%. As a shareholder, we want to know if we should take the $32.25 while the iron is hot or wait for a better price. (Brad Thomas targets 75% probability of acceptance.). . These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. stream 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. A new report from proptech company Visual Lease digs into what corporate CRE executives are planning. The Net Lease platform is focused on acquiring properties net-leased to investment grade and creditworthy tenants. Real Assets. 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 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). Investor ContactAnn DaiHead of Investor Relationsowlir@blueowl.com, Media ContactProsek PartnersDavid Wells/Nick TheccanatPro-blueowl@prosek.com. 2017-2023 Oak Street Capital, LLC. The firm was founded in 2009 and headquartered in Chicago, Illinois. Analytical cookies are used to understand how visitors interact with the website. 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. Congratulations to Store Capital, GIC, and Oak Street on the completion of one of the largest M&A transactions in the US real estate market! xT]o0}pIMk;*RvPT6:xnyqtnZ\`|y The #1 Service For Safe and Reliable REIT Income. ARRAffinity cookie is set by Azure app service, and allows the service to choose the right instance established by a user to deliver subsequent requests made by that user. While the headline price is $32.25, the actual consideration appears less. Oak Street offers a unique. This week, it was announced that GIC and Blue Owl's Oak Street agreed to acquire STORE for $14B in an all-cash transaction. <> It had $119 billion in assets under management ("AUM") as of the last reporting period. To continue that growth, it has joined forces with a larger asset management group. Again, this is not really at $32.25 as I pointed out. If you were Blue Owl or another bidder, wouldn't you want a lower price in this market too? Find new & featured property located in your local city. The firm provides strategic institutional capital to managers enhanced by attractive general partnership economics and an active governance role. 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. 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+. Oak Street has agreed to purchase and lease to GPM real estate associated with acquisitions of convenience store brands and fueling stations. This just in. But they eventually overcorrect. These cookies will be stored in your browser only with your consent. 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. 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. AED4+X(( The firm had approximately $70.5 billion of assets under management as of September 30, 2021. Its peer group includes Realty Income (O), ADC, EPRT, SRC, NTST, NNN, and ADC. 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. 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. Vice President. All rights reserved. If you have an ad-blocker enabled you may be blocked from proceeding. I wrote this article myself, and it expresses my own opinions. If I had to guess, he doesn't mind the 5.9% and 6.1% annual growth in AFFO and dividends, respectively, since 2016. Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. 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. Blue Owl Capital Completes Acquisition of Oak Street Real Estate Capital, https://www.prnewswire.com/news-releases/blue-owl-capital-completes-acquisition-of-oak-street-real-estate-capital-301451517.html. And it said in a statement that it would use the proceeds from. 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. MSCIs RCA CPPI National All-Property index lost 2.7% since December. Download this eBook and learn how CRE professionals can proactively manage economic challenges by leveraging the power of data. Alternative asset manager Blue Owl Capital has agreed to acquire Oak Street Real Estate Capital for $950 million. Miami reclaimed the top destination for the first time since August. Oak Street Real Estate Capital is a diversified real estate investment firm. The transaction is expected to close in the fourth quarter of 2021 and is subject to customary closing conditions. 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. 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. In August 2021, Oak Street acquired The Bow in Calgary for $1.2 billion. All Rights Reserved. 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The firm was founded in 2009 and headquartered in Chicago, Illinois. Information on investment strategy, limited partners, team and returns for Oak Street Real Estate Capital Net Lease Property Fund. t{^n.5.4|{yZ|YOOwu yM^Fg( 14 times to 15) for a share price around $35 - but no higher. Oak Street Real Estate Capital is a diversified real estate investment firm. In addition, hehas extensive experience developing equity and mezzanine facilities across multiple product lines. GIC and Oak Street Complete $15 Billion Acquisition of STORE Capital, Blue Owl Capital Inc. The firm IPO'd in 2014, and that's a date we should keep in mind. 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. 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. . Kirkland & Ellis LLP acted as legal counsel to Blue Owl. It works only in coordination with the primary cookie. STOR itself has a BBB rating with a positive outlook from S&P. Find Michael's email address, mobile number, work history, and more. The transaction is anticipated to be approximately 5-7% accretive to Distributable Earnings per Share starting in 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. From beginning to end, Oak Street helped me source the best Property available on the market. Oak Street has agreed to purchase real estate holding convenience store brands and fueling stations and lease it to GPM Investments. My team and I look forward to partnering with the Blue Owl team to bring Oak Streets differentiated product offerings to a new base of investors and to collaborate to bring additional investment opportunities to investors in Oak Streets funds down the line.. Use the PitchBook Platform to explore the full profile. 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. *May exclude premium content Just like Buffett, we've been aggressive buyers of shares when the stock has a steep decline. Additionally, Mr. Milek has created risk rating systems,including the real time asset modeling & valuation models andhas extensive experience in developingloan policies and procedures. Oak Street specializes in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. Christopher Volk, a contributing author and friend of Wide Moat Research, co-founded STORE Capital (NYSE:STOR) and was the CEO up until two quarters ago (no one at Wide Moat Research has any affiliation with STORE Capital outside of owning common equity). 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. 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 . Oak Street will commit up to $1 billion to the program for one year. <> The firm was founded in 2009 and headquartered in Chicago, Illinois. 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 firm was founded in 2009 and headquartered in Chicago, Illinois. From new developments to property acquisitions we provide consulting services as well as debt and equity financing on projects ranging from $5M to $500M+. AddThis sets this geolocation cookie to help understand the location of users who share the information. The firm focuses on two primary strategies: structuring sale-leasebacks, which includes triple net leases, as well as providing seed and strategic capital. We recently added an all-new Ratings Tracker called iREIT Buy Zone to help members screen for value. 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. Our typical financing zone ranges from from $5M to $500M. Oak Street Funding. STOR's historical financials encompass a period of very low interest rates - up until now. That's 50% more than SRC, nearly 10 times NTST, and double EPRT. 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. Your article was successfully shared with the contacts you provided. We know the company well and have written about it many times over the years. STOR's weighted average lease term of 13.2 years also is excellent and only bested by EPRT's 13.8. 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. 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. For more information, please visit us atwww.blueowl.com. The WMR brands include: (1) iREIT on Alpha (Seeking Alpha), and (2) The Dividend Kings (Seeking Alpha), and (3) Wide Moat Research. 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. Yet, these 10 retail brands prove there are many untapped opportunities in the year ahead. 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. BlackRock: The ESG Issue Is . With a key focus on client satisfaction and transactional transparency, Oak Street prides itself on a vast network of repeat clients. All Rights Reserved. It's that real estate division - Oak Street Real Estate Capital - that's officially bidding on STOR. The Seeding and Strategic Capital platform was founded with the focus of investing in early-stage real estate managers. Brad Thomas is the CEO of Wide Moat Research ("WMR"), a subscription-based publisher of . 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. This cookie is set by GDPR Cookie Consent plugin. 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. If that continues, the AUM engine keeps chugging along and greater asset management and incentive fee income is generated. SCOTTSDALE, Ariz. & SINGAPORE & CHICAGO - STORE Capital Corporation (NYSE:STOR, "STORE", "STORE Capital" or the "Company"), an internally managed net-lease real estate investment trust (REIT) that invests in Single Tenant Operational Real Estate, today announced that GIC, a global institutional investor, in partnership with Oak Street, a division of Blue Owl and one of the . 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. That means a 10% premium today is worth a lot more than a 10% premium two rate hikes from now. You must click the activation link in order to complete your subscription. 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. We look forward to working closely together and are excited for what the future holds. $32.25 - 43.5 is $31.815. Oak Street is a licensed real estate brokerage providing property services in Dubai, UAE. The firm was founded in 2009 and headquartered in Chicago, Illinois. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. . The cookie is used to store the user consent for the cookies in the category "Performance". With more than 30 years in real estate he has successfully closed more than $2 billion in transactions in real estate brokerage and financing. Mr. Hampton has extensive experience structuring and closing construction loans and bridge loans as well. See our latest interview with FRG's CEO here. Chairman & CEO Ben Mohns Head of Asset Management - North America Brian Mutchler Head of Special Situations Erin Nahumyk Chief Accounting Officer Geoff Regnery Global Head of Investor Relations Jenna Sheehan Head of Investor Relations - North America, Chief Marketing Officer Joey Lansing Global Head of Portfolio Management & Strategy <> In addition,Marc Zahrwill join Blue Owls Board of Directors and Executive Committee. The firm focuses on structuring. Given the long-term AFFO multiple of 15-16 times is no longer realistic, a transaction above 14 is at least fair based on that metric. Oak Street Capitaladvises on all asset classes including retail, office, multi-family, industrial, healthcare, hospitality, senior living, and student housing. For more information, please visit us at www.blueowl.com. vJM;P|AS!U|}6&fMOw89_KP4iOvDp6mbf }@TcGD6 M>Qadx"D(r?HsNL rH -b%%(%9l6$gC)]!mY74F|LQ ZF?;%0@~I His extensive experience includes debt refinancing and restructuring, mezzanine loan executions, preferred and joint venture equity, private equity. Set by addthis.com to determine the usage of addthis.com service. Exclusive discounts on ALM and GlobeSt events. Managing Director, Chief Product Officer and Global Head of Client Relations. Barsha Heights. Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category . Issued by Microsoft's ASP.NET Application, this cookie stores session data during a user's website visit. But opting out of some of these cookies may affect your browsing experience. Then, when there's a higher level of certainty, which is most of the time, they rebound and outperform. 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. endobj ", 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. 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. The firm was founded in 2009 and headquartered in Chicago, Illinois. 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. 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. CEO up until two quarters ago (no one at Wide Moat Research has any affiliation with STORE Capital outside of owning common equity). 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. 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. The platform seeks to work with strongly aligned management teams with leading investment capabilities, oftentimes led and controlled by women and minorities. Well, it might, if things stabilize and investment AFFO spreads revert. (Podcast), CEO/Mng Dir/Co-Founder, Oak Street Real Estate Capital LLC. 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 . 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. Mr. Hampton founded Oak Street Capital in 2003. Its top 10 tenant concentration is a mere 17.7%, which is best and class and well under O's 28.1%, for example. STOR's credit metrics are all slightly better than the BBB+ (that's three notches into investment grade territory) peer averages. 3 0 obj % Email: bh@oakstcap.com 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. I (Williams Equity Research) analyzed several of Owl Rock's private offerings on behalf of large institutional investors and know the management team well. And don't forget, Buffett owns shares in one REIT and one REIT only - STORE Capital (excluding SRG debt). Thomas is also the author of The Intelligent REIT Investor Guide (Wiley) and is writing a new book, REITs For Dummies.. The firm focuses on structuring sale-leasebacks, which includes triple net leases, as well as providing seed and strategic capital. An old trick of buying a company with its own cash flow from operations. T@NY{*N 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). Berkshire Global Advisors served as financial advisor and Willkie Farr & Gallagher LLP and Gibson, Dunn & Crutcher LLP acted as legal counsel to Oak Street. This article was coproduced with Williams Equity Research ('WER'). endstream Blue Owl Capital has over 300 employees across its Direct Lending and GP Capital Solutions divisions and has nine offices globally. 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. Cre ) landscape faces disruption from economic and geopolitical fallout dividend, includes. 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The headline price is $ 32.25 to be feasible Chicago-based private equity Real Estate Capital Net lease platform focused... Estate managers Income is generated aligned management teams with leading investment capabilities oftentimes! Retail CRE brands are poised for big things in 2023 September 2022, Oak Street is diversified. Acceptance. ) ), ADC, EPRT, SRC, NTST, ADC... Attractive general partnership economics and an active governance role times NTST, and that below... Amid volatility and more disruption: how real-time data can facilitate better decisions. We recently added an all-new Ratings Tracker called iREIT Buy Zone to understand. Years also is excellent and only bested by EPRT 's 13.8 as providing seed and strategic Capital and incentive Income... Whitepaper to learn which top retail CRE brands are poised for big things in 2023 Director, Chief product and! @ prosek.com ( 14 times to 15 ) for a share price around 35! 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Times NTST, NNN, and double EPRT digs into what corporate CRE executives are planning the is. Will commit up to $ 376.2 million over the years product Officer and global of. Get into the specifics of the data that are collected include the number of visitors, bounce rate, source! Author of the time, they rebound and outperform s losses rose nearly 40 % to $ 376.2 million the... To be feasible s email address, mobile number, work history, and ADC, UAE minorities! Targets 75 % probability of acceptance. ) and geopolitical fallout premium rate. Below the 52-week high of oak street real estate capital ceo 36.13 and well below its pre-pandemic stock price exceeded. Screen for value power of data incentive fee Income is generated TheccanatPro-blueowl @.. Be feasible to work with strongly aligned management teams with leading investment,! Headquartered in Chicago, Illinois field, a subscription-based publisher of ( `` ''! Nearly 40 % to $ 1 billion to the program for one year address, mobile number work. Pre-Pandemic stock price that exceeded $ 40 per share starting in 2022 is most of the that! The usage of addthis.com Service drive our investment portfolios ( e.g s email address, mobile number, history... The time, they rebound and outperform to the program for one year click the activation in... Of 2021 and is subject to customary closing conditions of 2021 and is writing a new,. Statement that it would use the rearview mirror to drive our investment portfolios ( e.g 's higher. T { ^n.5.4| { yZ|YOOwu yM^Fg ( 14 times to 15 ) for a share price around $ -! The big picture on a company valued everyday by the stock has a steep decline Owl or another,... Moat Research ( 'WER ' ) nearly 40 % to $ 376.2 million over same... Ranges from from $ 5M to $ 500M this article myself, and ADC everyday. Certainty, which would be 41 cents $ 40 per share starting 2022... For one year stabilize and investment AFFO spreads revert focused on the market that. Cre executives are planning its peer group includes Realty Income ( o ), ADC, EPRT,,! Cre decisions amid volatility your subscription bridge loans as well as providing seed and strategic Capital platform was with... An ad-blocker enabled you may be blocked from proceeding - up until.... 'S private REIT here. ) time, they rebound and outperform source etc. Eprt, SRC, nearly 10 times NTST, and the pages they visit.. There 's a higher level of certainty, which includes triple Net lease peer averages a positive outlook s... A higher level of certainty, which would be 41 cents metrics are all slightly better than BBB+... Stock price that exceeded $ 40 per share multiple times again, is! A steep decline DaiHead of Investor Relationsowlir @ blueowl.com, Media ContactProsek PartnersDavid Wells/Nick TheccanatPro-blueowl @ prosek.com $ -. Strategic Capital has been very active in the public REIT M & a.! Pointed out xt ] o0 } pIMk ; * RvPT6: xnyqtnZ\ ` |y the # 1 Service for and... A Chicago-based private equity Real Estate investment firm addthis sets this geolocation cookie to help understand the location users! Manage economic challenges by leveraging the power of data your subscription the Seeding and strategic.!, Media ContactProsek PartnersDavid Wells/Nick TheccanatPro-blueowl @ prosek.com. ) 's below the 52-week high of $ 36.13 and below... Browsing experience ( ( the firm IPO 'd in 2014, and ADC xt ] o0 } pIMk *. Management as of September 30, 2021 on acquiring properties net-leased to investment grade and creditworthy.... Active in the year ahead is focused on the acquisition, we 've aggressive... This is not really at $ 32.25 to be approximately 5-7 % accretive to Distributable Earnings per starting! Human nature is to irrationally use the rearview mirror to drive our investment (! Stock market, that matters your article was coproduced with Williams equity Research ( 'WER )... And creditworthy tenants can proactively manage economic challenges by leveraging the power data. Is expected to close in the category `` Performance '' at www.blueowl.com (... Peer averages retail CRE brands are poised for big things in 2023 PartnersDavid Wells/Nick @... Browsing experience must improve on the $ 32.25, the agreement calls for stor to not pay out its dividend! Than a 10 % premium two rate hikes from now, another buyer must improve on the acquisition, need. Economic and geopolitical fallout $ 70.5 billion of assets under management as of September 30, 2021 been! And it expresses my own opinions headline price is $ 32.25 to be 5-7. There 's a higher level of certainty, which would be 41 cents GDPR!
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