Blue Owl Capital Inc. has reached a definitive agreement to acquire Sila Realty Trust, Inc. in an all-cash transaction valued at approximately $2.4 billion, according to deal terms finalized as of April 22, 2026. The acquisition, which was first announced on April 20, involves affiliates of Blue Owl Real Estate Capital LLC purchasing all outstanding shares of the Tampa-based healthcare real estate investment trust (REIT) for $30.38 per share.
The purchase price represents a 19.0% premium to Sila’s closing stock price of $25.53 on April 17, 2026, the final full trading day before the transaction was disclosed. The offer also reflects a 25.6% premium over the company’s 30-trading day volume-weighted average price. Upon the successful completion of the merger, Sila will transition to a private company, and its common stock will be de-registered and de-listed from the New York Stock Exchange.
Sila Realty Trust’s portfolio consists of 137 real estate properties and three undeveloped land parcels across 65 U.S. markets, as of the quarter ended March 31, 2026. The REIT specializes in high-quality net lease healthcare facilities, including hospitals and inpatient rehabilitation centers. Michael A. Seton, President and Chief Executive Officer of Sila, stated that the transaction provides a significant and immediate realized benefit to shareholders following a comprehensive strategic process undertaken by the management team. Seton noted that the success in curating the portfolio is a testament to the dedication of the company's staff.
Marc Zahr, Co-President and Global Head of Real Assets at Blue Owl, characterized the acquisition as an opportunity to secure a best-in-class healthcare net lease portfolio. Zahr noted that the assets are supported by strong tenant fundamentals and long-term triple-net leases. The move aligns with Blue Owl’s broader strategy to increase its exposure to resilient asset classes with durable cash flows and attractive long-term growth characteristics. Blue Owl’s real estate division currently manages approximately one-quarter of the firm’s $307 billion in total assets under management.
The transaction has received unanimous approval from Sila’s Board of Directors. It remains subject to the approval of Sila shareholders and other customary closing conditions. The companies expect the deal to close in either the second or third quarter of 2026. Under the terms of the merger agreement, Sila is permitted to pay up to two regular quarterly dividends during the pendency of the transaction.
Sila Realty Trust originally listed on the New York Stock Exchange in June 2024. Following the acquisition agreement, the company confirmed it does not expect to host a conference call to discuss its first-quarter 2026 financial results. Kirkland & Ellis LLP is serving as legal counsel for Blue Owl in the transaction.