On February 3, 2023, GIC Private Limited and Oak Street Real Estate Capital, LLC announced that they had acquired STORE Capital Corporation (NYSE: STOR).
Under the terms of the transaction, GIC Private Limited (“GIC”), in partnership with Oak Street Real Estate Capital, LLC (“Oak Street”) acquired STORE Capital Corporation (“STORE Capital”). The acquisition is valued at approximately $15 billion, including assumed debt, with a per share price of $32.25.
Oak Street, based in Chicago, is a division of Blue Owl. Oak Street is a real estate investment firm. Oak Street has $18 billion in assets under management and Blue Owl has $131 billion in assets under management.
GIC, based in Singapore, is a global investment firm that manages Singapore’s foreign reserves. GIC has a wide-range of asset classes including venture capital, infrastructure, private equity, real estate, equities and fixed income. Bank of America acted as a financial advisor to GIC during the transaction.
STORE Capital, based in Scottsdale, Arizona, offers net-lease REITs and owns over 3,000 properties across the United States.
To read the press release: please click here.