By Isla Binnie and Kritika Lamba
April 20 (Reuters) – Affiliates of Blue Owl Capital’s real estate arm have agreed to acquire Sila Realty Trust, a healthcare-focused real estate investment trust, in an all-cash deal valued at about $2.4 billion, the companies said on Monday.
The affiliates will pay $30.38 per share for all outstanding shares of the Tampa, Florida-based REIT, a 19% premium to Sila’s closing price of $25.53 on April 17, the day before the announcement.
Sila, headquartered in Florida, owns 137 real estate properties and three undeveloped land parcels across 65 markets in the United States.
This is the latest investment by the real assets division of Blue Owl, which accounts for around one quarter of the New York-based firm’s roughly $307 billion in assets under management. It also invests in industrial facilities and datacenters, and credit secured by other properties.
Blue Owl’s stock has fallen more than 30% so far this year and dipped below the price where it launched onto the public market in 2021. It was created from the merger of private credit firm Owl Rock and the Dyal Capital Partners division of Neuberger Berman.
Large alternative asset managers have seen their stocks buffeted over the past year by fears that the software businesses that they bought and lent to heavily would be disrupted by artificial intelligence. There have also been doubts about lending standards and their overall growth prospects.
Blue Owl has taken a particularly deep dive since a proposal last year to merge a non-traded private credit vehicle with a traded version raised the prospect that wealthy individuals could take losses.
(Reporting by Kritika Lamba in Bengaluru and Isla Binnie in New York; Editing by Anil D’Silva and Devika Syamnath)
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