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Announced

Completed

GIC and Oak Street completed the acquisition of STORE Capital for $15bn.

Financials

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Transaction Value£9,870m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium20.4%
One Off Charge-

Tags

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real estate investment trust

Mortgage REITs: Diversified

United States

Acquisition

Domestic

Majority

Private Equity

Public

Completed

Synopsis

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GIC, an investment firm, and Oak Street, a real estate investment firm, completed the acquisition of STORE Capital, an internally managed net-lease real estate investment trust, for $15bn. “We are thrilled to complete the STORE Capital acquisition. As one of the largest M&A transactions in the US real estate market, it highlights GIC’s ability to execute at scale in areas we have high conviction in. With GIC’s long-term, committed capital and STORE’s demonstrated operational expertise, we will continue to prudently grow the company and drive strong returns for our portfolio,” Lee Kok Sun, GIC Chief Investment Officer.

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