Subsidiaries of Blue Owl Capital’s property investment division announced Monday they have reached an agreement to purchase Sila Realty Trust, a healthcare property investment company, in a cash transaction worth approximately $2.4 billion.
The purchasing entities will provide $30.38 for each outstanding share of the Tampa, Florida-based investment trust, representing a 19% increase over Sila’s April 17 closing price of $25.53, which was the trading day prior to Monday’s announcement.
The Florida-based company controls 137 healthcare real estate assets and three undeveloped parcels spanning 65 markets throughout the United States.
The acquisition represents the most recent purchase by Blue Owl’s real assets segment, which comprises approximately 25% of the New York-headquartered company’s total $307 billion in managed assets. The division also makes investments in manufacturing facilities, data centers, and credit arrangements backed by various properties.
Shares of Blue Owl have declined more than 30% during 2024 and dropped beneath the initial public offering price from its 2021 market debut. The company was formed through the combination of private lending firm Owl Rock and Neuberger Berman’s Dyal Capital Partners unit.
Major alternative investment companies have experienced stock volatility over the past year due to concerns that technology companies they invested in and provided loans to could face disruption from artificial intelligence developments. Additional worries have emerged regarding lending practices and future expansion opportunities.
Blue Owl has experienced particularly significant declines following a 2023 proposal to combine a private credit investment vehicle with a publicly traded version, which created the possibility that affluent investors might face financial losses.
