Kutak Rock Represents STORE Capital in $15 Billion Acquisition by GIC and Oak StreetNews | February 22, 2023
In one of the largest M&A transactions in the U.S. real estate market, Kutak Rock recently represented STORE Capital Corporation (“STORE Capital”), an internally managed net-lease real estate investment trust (REIT), in a $15 billion all-cash acquisition by GIC, a global institutional investor, in partnership with Oak Street, a division of Blue Owl and one of the largest investors in net lease real estate. The transaction was announced on September 15, 2022 and closed on February 3, 2023.
Founded in 2011, STORE Capital is a leader in the acquisition, investment and management of Single Tenant Operational Real Estate. The acquisition is expected to give STORE Capital access to efficient long-term capital to continue to provide unique real estate financing solutions to middle market companies.
Established in 1981, GIC is a leading global investment firm and the manager of Singapore’s foreign reserves. Oak Street, a division of Blue Owl, is a real estate investment firm focused on acquiring properties net-leased to investment grade and creditworthy tenants.
Kutak Rock real estate partners Kelly Reynoldson and Nathan Humphrey advised STORE Capital on the transaction. They were assisted by partners Kristine Poston and Whitney Kopicky, associates Jon Nealer and Brooke Simons, and attorney Lisa Connolly, all from Kutak Rock’s Denver real estate practice group.
Kutak Rock’s real estate team, consisting of more than 70 real estate attorneys, represents national, regional and local clients in all areas of the industry, including owners, developers, lenders, servicers, sponsors and investors.
With more than 45 attorneys, Kutak Rock’s national M&A practice group has built a solid reputation as a leader in middle market M&A transactions. Kutak Rock’s experience includes representing buyers, sellers and private equity groups in domestic and cross-border transactions.