STORE Capital Deploys More than $300 Million in Sale-Leaseback Financings Since June 2011
SCOTTSDALE, AZ (January 25, 2012) – STORE Capital (the “Company”), a new-generation real estate investment trust (REIT) formed to invest in single tenant real estate such as chain restaurants, supermarkets, health clubs, education and other retail, service and distribution facilities, today announced that it has provided or committed to more than $300 million in sale-leaseback financings during 2011.
Christopher H. Volk, chief executive officer of STORE Capital, commented: “The volume of transactions we completed in our first six months of operations is affirmation that there is a real need for the financing solutions we offer to real estate-intensive businesses to improve their capitalization efficiencies. As a company, we look forward with excitement to bringing added value to our tenants and establishing new relationships in 2012.”
STORE (Single Tenant Operational Real Estate) Capital opened its doors in June of 2011 after completing a $500 million private equity raise, which includes a $400 million commitment from OCM STR Holdings, L.P., a wholly owned subsidiary of certain investment funds managed by Oaktree Capital Management, L.P., a premier global alternative and non-traditional investment manager. The Company helps owners of single tenant operational real estate assets improve the capitalization efficiency of their businesses through tailored, real estate lease and mortgage financing solutions.
STORE Capital was founded by Morton H. Fleischer and Christopher H. Volk and a seasoned senior management team that has worked together for many years. Formerly, Messrs. Fleischer and Volk were responsible for the formation, growth, and ultimate sale of Spirit Finance (formerly NYSE: SFC) and Franchise Finance Corporation of America (formerly NYSE: FFA). Collectively, the Company’s leadership team has successfully invested nearly $10 billion in single tenant operational real estate assets since 1981.
About STORE Capital
STORE Capital is a new-generation real estate investment trust principally backed by funds managed by Oaktree Capital Management, L.P. STORE’s mission is to address the long-term capital needs of real estate intensive operating businesses throughout the United States. Through tailored real estate lease and mortgage financing solutions, STORE’s aim is to create wealth for its customers by improving the capital efficiency of their businesses.