Blue Owl to Acquire Sila Realty Trust in $2.4 Billion All-Cash Deal

Sila Realty Trust Inc. (NYSE: SILA) – formerly a nontraded real estate investment trust which celebrated one year on the New York Stock Exchange last June – has entered into a definitive merger agreement to be acquired by affiliates of Blue Owl Capital Inc. (NYSE: OWL) in an all-cash transaction valued at approximately $2.4 billion.

“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 Capital. “Michael and the Sila team have curated a highly diversified collection of critically important healthcare assets across the continuum of care, underpinned by strong tenant fundamentals, long‑term triple‑net leases, and robust rent coverage.”

The agreement provides Sila shareholders with $30.38 per share in cash. This purchase price represents a significant premium for investors, reflecting a 19% increase over Sila’s closing stock price of $25.53 on April 17, 2026, and a 25.6% premium to the 30-trading day volume-weighted average price.

For Blue Owl, the acquisition serves as a major expansion of its real estate portfolio. The firm is acquiring a healthcare net lease portfolio consisting of 137 properties and three undeveloped land parcels across 65 U.S. markets.

“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,” added Zahr.

Sila’s president and chief executive officer, Michael A. Seton, noted that the transaction is the result of a thorough strategic process aimed at maximizing value for shareholders. “The consummation of this transaction will provide significant and immediate realized benefit to our shareholders,” Seton stated.

Sila was among the newest public REITs, having completed a June 2024 direct listing on the NYSE after operating for years as a nontraded REIT.

Now, the transaction to be acquired has been unanimously approved by Sila’s board of directors but remains subject to approval by Sila shareholders and other customary closing conditions. It is expected to close in the second or third quarter of 2026. Sila intends to continue paying its regular quarterly dividends, with the merger agreement permitting up to two such payments prior to the deal’s completion.

Upon the completion of the merger, Sila will become a private company. Its shares will be de-registered under the Securities Exchange Act of 1934 and will cease trading on the New York Stock Exchange.

BofA Securities is serving as Sila’s exclusive financial adviser, with Hogan Lovells US LLP serving as legal counsel. Blue Owl is advised by Citigroup Global Markets Inc., Truist Securities, Inc., and Newmark Group, Inc., with Kirkland & Ellis LLP acting as legal counsel.

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