Oak Street Real Estate Capital partners with startup REIT
Generation Income Properties (GIP), a public REIT founded by David Sobelman, has entered into a preliminary financing arrangement with affiliates of Oak Street Real Estate Capital.
Oak Street recently closed its fourth fund at $1.25 billion in September 2017 and has agreed to provide up to $15 million of preferred equity capital to a to-be-formed partnership, in joint venture with GIP.
The joint venture intends to acquire high-quality, investment-grade net-leased commercial real estate.
Generation Income Properties, Inc., located in Tampa, Fla., is an internally managed real estate investment trust formed to acquire and own, directly and jointly, real estate investments focused on retail, office and industrial net-lease properties located primarily in major United States cities, with an emphasis on the major coastal markets. It invests primarily in freestanding, single-tenant commercial retail, office and industrial properties.
Oak Street specializes in and seeks to provide capital solutions to a variety of credit tenants (e.g., corporations, healthcare systems, universities and governmental entities) primarily through sale-leaseback and build-to-suit transactions across the United States, while additionally providing advisory services and comprehensive real estate solutions.
