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Blue Owl to Acquire Oak Street Real Estate Capital for $950M
New York City-based Blue Owl Capital Inc. has agreed to acquire Oak Street Real Estate Capital, LLC and its investment advisory business for $950 million, along with earnouts up to a total of approximately $650 million for Oak Street equity holders. The transaction is expected to close in the fourth quarter.
Oak Street is a Chicago-based firm, founded in 2009 with $10.8 billion of assets under management as of June 30. The firm focuses on two primary strategies: structuring sale-leasebacks, which includes triple net leases, as well as providing seed and strategic capital.
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. We believe their focus on flexible real estate related financing solutions will be very complementary to our existing direct lending and GP solutions capabilities.”
Pictured: Blue Owl headquarters at 399 Park Ave. in Midtown Manhattan.
- ◦Sale/Acquisition
