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American international group (aig) closes 5 billion dollar real estate traction to Blackstone Real Estate Income Trust

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. 


Inside The Story

Blue OwlOak Street

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition