Affiliates of Blue Owl Real Estate Capital agreed to buy Sila Realty Trust, a Tampa-based owner of net-leased healthcare property, for US$30.38 per share in cash in a transaction valued at about US$2.4bn, the companies said on 20 April.
Why Blue Owl Real Estate Capital is buying Sila Realty Trust, Inc.
Blue Owl said the deal widens its exposure to healthcare real estate, which it regards as a stable asset class with predictable cash flows, and expands its core net lease strategy. Sila said the agreement followed a strategic process aimed at maximising shareholder value.
Deal terms and financing
The all-cash price represented a 19% premium to Sila's closing price on 17 April, the last full trading day before the announcement, and 25.6% to its 30-day volume-weighted average. Sila's board approved the agreement unanimously, and the company was permitted to keep paying regular quarterly dividends until closing.
Regulatory approvals and timing
The merger required approval by Sila stockholders, who backed it with more than 98% of votes cast on 26 June 2026. Blue Owl announced completion on 1 July 2026, after which Sila's shares ceased trading on the NYSE.
Market context
As of 31 March Sila owned 137 properties, including medical outpatient buildings, and three undeveloped land parcels in 65 US markets. Blue Owl had more than US$300bn of assets under management at the time of the announcement.
