Blue Owl Capital’s real estate investment arm is acquiring US net lease real estate investment trust Sila Realty Trust for $2.4bn (€2.03bn).
Blue Owl Real Estate Capital is offering NYSE-listed Sila shareholders $30.38 per share in cash, representing a 19% premium to Sila’s last closing price.
Sila owns 137 real estate properties and three undeveloped land parcels, located in 65 markets across the US.
Michael A Seton, president and CEO of Sila Realty Trust, said: “Sila’s management team’s unwavering commitment to put our shareholders as our top priority is evidenced by the undertaking of a strategic process and execution of this transaction with Blue Owl managed funds, the leading global investor in net lease assets and sale-leasebacks.
“The consummation of this transaction will provide significant and immediate realised benefit to our shareholders. I am grateful for the unwavering support of my colleagues and their collective commitment to putting our shareholders first.”
Marc Zahr, co-president and global head of real assets at Blue Owl, said: “We are extremely excited to acquire one of the best‑in‑class healthcare net lease portfolios in the market. Michael and the Sila team have curated a highly diversified collection of critically important healthcare assets across the continuum of care, underpinned by strong tenant fundamentals, long‑term triple‑net leases and robust rent coverage.
“This transaction provides us with a compelling opportunity to acquire a scaled portfolio with durable cash flows and attractive long‑term growth characteristics, while further expanding Blue Owl managed funds’ exposure to an asset class and sector we view as both resilient and essential given its critical role in both society and the economy.”
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