Oak Street Real Estate Capital, LLC
|Deal Type||Debt Capital Markets|
Private Placement of Senior Secured Notes
|Client & Transactional Partners||Oak Street Real Estate Capital, LLC||Our Role||Sole Placement Agent|
On September 8, 2021, Oak Street Real Estate Capital Net Lease Property Fund, LP (“OSREC NLP Fund” or the “Company”) closed on a private placement of $450 Million principal amount of Senior Secured Notes (the “Notes”). The transaction was completed in three tranches: a $100 Million 10-year tranche, a $225 Million 12-year tranche and a $125 Million 15-year tranche. The net proceeds from the issuance of the Notes will be used to repay outstanding borrowings under the Revolving Credit Facility and for general corporate purposes, including potential acquisitions. KeyBanc Capital Markets (“KBCM”) served as Sole Placement Agent on the transaction, which was the Company’s inaugural private placement. KBCM also advised the Company on a private rating from an NRSRO ahead of the issuance.
Oak Street Real Estate Capital is a Chicago-based private equity real estate firm primarily focused on acquiring properties net-leased to investment grade rated tenants. Oak Street specializes in providing unique and flexible real estate solutions to a variety of organizations including corporations, healthcare systems, universities and government entities. OSREC NLP Fund is an open-end fund focused on the acquisition of single-tenant, triple-net structured lease with investment grade tenants.