Blue Owl Capital has agreed to acquire Tampa-based Sila Realty Trust in an all-cash transaction valued at approximately $2.4 billion, the companies announced April 20.
Affiliates of Blue Owl Real Estate Capital will purchase Sila for $30.38 per share, a 19% premium to the company’s April 17 closing price and a 25.6% premium to its 30-day volume-weighted average. The agreement was unanimously approved by Sila’s board.
The transaction is expected to close in the second or third quarter of 2026, subject to shareholder approval and customary conditions. Upon completion, Sila will become a private company and its shares will no longer trade on the New York Stock Exchange.
Sila Realty Trust, headquartered in Tampa, invests in net lease healthcare properties. As of March 31, the company owned 137 properties and three undeveloped land parcels across 65 markets nationwide.
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Blue Owl, a New York-based asset manager with more than $307 billion in assets under management, said the acquisition expands its exposure to healthcare real estate, a sector it views as stable with predictable cash flow.
Blue Owl said Sila’s portfolio includes healthcare assets with long-term leases and strong tenant performance across multiple care settings.
Sila President and CEO Michael Seton said the transaction follows a strategic process aimed at maximizing shareholder value. Blue Owl said the deal provides access to a scaled healthcare platform with stable income and long-term growth potential.
Sila may continue to pay regular quarterly dividends before closing, as permitted under the merger agreement.
BofA Securities is serving as Sila’s financial advisor, with Hogan Lovells as legal counsel. Blue Owl is advised by Citigroup Global Markets, Truist Securities and Newmark, with Kirkland & Ellis as legal counsel.
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