Matt Wrobleski joins the Podcast
SLB Capital Advisors Partner Matt Wrobleski provides a comprehensive update on the state of the sale/leaseback market and details his firm’s quarterly market report in the latest episode of the Net Lease Observer Podcast.
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Carter to Sila to Owl
Affiliates of Blue Owl Capital (NYSE: OWL) announced an agreement to acquire healthcare-focused net lease REIT Sila Property Trust (NYSE: SILA) in a $2.4 billion take-private deal.
A former Carter Validus non-traded REIT formed back in 2013, the target internalized management and rebranded to Sila in 2020 with a listing on the NYSE less than 2 years ago (June 2024).
As of 12/31/2025, Sila owned 140 properties totaling 5.3 million square feet (excluding 2 land parcels and the former Stoughton property which was demolished). The portfolio was 98.7% occupied with a 10-year weighted average lease term remaining and 2.1% average rent escalator. The REIT’s annualized base rent is generated evenly (roughly 1/3 each) across medical outpatient buildings, inpatient rehabilitation facilities, and surgical/specialty facilities.
The $30.38/share all-cash price implies a ~14x multiple on 2025 AFFO and a ~7.3% cap rate on annualized 4Q2025 cash net operating income (NOI; excluding lease termination income).
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