Carlyle Buys iStar’s Net-Lease Business for About $3 Billion

#Lifestyle Wealth


(Bloomberg)—The global credit unit of Carlyle Group Inc. agreed to acquire iStar Inc.’s net lease business for about $3 billion in enterprise value as part of Carlyle’s expansion in real estate.

The unit will provide equity for the purchase, with Carlyle itself adding a minority balance sheet investment, according to a press release. Net-leases are rental contracts where the tenants agreed to pay for costs associated with the property besides the rental amount.

The acquisition includes iStar’s portfolio of triple-net leases, where tenants are responsible for property taxes, insurance fees and maintenance costs, that consists of industrial, office and entertainment properties in the U.S.

“Acquiring iStar’s net lease business jump starts our real estate credit strategy, quickly giving us scale to accelerate deployment,” Mark Jenkins, head of global credit at Carlyle said in the statement. “We expect to grow this net lease strategy into a $10 billion business with a focus on making the product available to the retail channel over time.”

Barclay Jones, who has spearheaded iStar’s net lease strategy for more than 20 years, Senior Vice President Catherine Tenney and others from the unit will join Carlyle’s real estate credit team.

Carlyle is pushing into real estate as part of a buildout of its global credit business. The unit made its first fund investment in the net lease arena last year by agreeing to provide as much as $300 million in capital to New Jersey-based Four Springs Capital Trust.

Real-estate credit has become an increasing area of interest for investors because of the premium offered by illiquid assets, and as a hedge against inflation. Carlyle recently hired David Schonbraun, formerly the chief investment officer of New York-based SL Green Realty Corp., to head its U.S. real-estate credit arm.

Carlyle’s global credit arm, its fastest growing business the past three years, has $66 billion in assets under management, according to the press release. The transaction is expected to close in the first quarter of this year.

© 2022 Bloomberg L.P.

https://www.wealthmanagement.com/net-lease/carlyle-buys-istar-s-net-lease-business-about-3-billion

To Find More Information, Go To Saubio Digital And Look Up Any Topic

Please follow and like us: Share This Post




Take a look at our comprehensive guide to the best and most popular information ebooks and products available today on Detoxing, Colon Cleansing, Weight Loss and Dating and Romance. They are all in one spot, easy to find and compere to make a quick selection for the product that best fits your needs or wants.

So browse through a category and make your  preferred selection and come back here to read  more choice articles and get a few more helpful tips on ways to help your enhancement.



Detoxing Reviews

Best Body Detoxification Guides & reviews





Colon Cleanse Reviews

Best Colon Cleanse Guides & Reviews





Weight Loss Ebook Reviews

Weight loss products really work! Click here





Dating and Romance Ebook Reviews

Looking for Dating Guides? Click here





Free Traffic System - Increase Targeted Website Traffic with Free Unlimited One Way Links

As an Amazon Associate I earn from qualifying purchases. “saubiosaubiosuccess.com is a participant in third party affiliate and advertising programs; The Amazon Services LLC Associates Program, Awin network, and other affiliate advertising programs are designed to provide a means for sites to earn advertising fees and commissions by advertising and linking to products on other sites and on Amazon.com. Amazon and the Amazon logo are trademarks of Amazon.com, Inc, or its affiliates.”

Leave a Reply

Your email address will not be published. Required fields are marked *


Saubio's Promo Tools