Blue Owl Capital, which has been ramping up activity in the mortgage sector, announced Monday it bought Sila Realty Trust in an all-cash transaction valued at about $2.4 billion.
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The purchase price represents a 19% premium to Sila's closing stock price of $25.53 on April 17, the last full trading day before the deal was announced, and a 25.6% premium to the 30-trading day volume-weighted average price.
Sila shares were up 19.2% to $30.43 as of 1 p.m. Monday, while Blue Owl's shares remained relatively the same.
"We are extremely excited to acquire one of the best‑in‑class healthcare net lease portfolios in the market," said Marc Zahr, co-president and global head of real assets at Blue Owl, in the release. "This transaction provides us with a compelling opportunity to acquire a scaled portfolio with durable cash flows and attractive long‑term growth characteristics, while further expanding Blue Owl managed funds' exposure to an asset class and sector we view as both resilient and essential given its critical role in both society and the economy."
Blue Owl has also been active in the mortgage space,
The recent deal, which was unanimously approved by Sila's board of directors, is expected to close in the second or third quarter of this year. Sila will become a private company and no longer trade on the New York Stock Exchange once the transaction is completed, according to the release.
Sila does not expect to hold an earnings call for the first quarter as a result of the purchase.
"I am extremely proud of the company that we have built at Sila Realty Trust," President and CEO Michael Seton said. "Sila's management team's unwavering commitment to put our shareholders as our top priority is evidenced by the undertaking of a strategic process and execution of this transaction with Blue Owl managed funds, the leading global investor in net lease assets and sale-leasebacks. The consummation of this transaction will provide significant and immediate realized benefit to our shareholders."
Sila, headquartered in Tampa, Florida, owned 137 real estate properties in 65 markets across the United States as of last month.
Blue Owl has more than $307 billion in assets under management as of the end of last year, with its real assets division accounting for roughly a quarter of it. The company has looked for more investment opportunities in real assets over the past year, Reuters reported, with its shares down more than 30% in 2026.
