$2.4 billion sale of Tampa REIT expected to close July 1

Sila Realty Trust’s shareholders voted Friday morning to approve the sale of the company to the asset management firm Blue Owl, clearing the way for the $2.4 billion sale to close next week.

According to a note to investors Friday, 98% of votes cast at the meeting (about 63% of the outstanding shares) voted in favor of the deal.

The transaction is now expected to close Wednesday, assuming all other conditions are met. Once the deal closes, the Tampa Real Estate Investment Trust will no longer be traded on the New York Stock Exchange.  

Sila is a Tampa-based “pure play” net lease health care REIT. As of Dec. 31, its portfolio was made up of 140 properties totaling about 5.3 million square feet of rentable space that was 98.7% leased. At that time, it had $590 million in liquidity made up of $32.3 million in cash and cash equivalents and $449 million available under its credit lines.

The company was originally known as Carter Validus Mission Critical REIT and Carter Validus Mission Critical REIT II before the two merged in 2019 to become Sila.

New York-based Blue Owl, which had $307 billion in assets under management as of December 31, says in a statement that it invests across three multi-strategy platforms: credit, real assets and GP Strategic Capital.

For now, it’s not clear what will happen with management at Sila or if it’s headquarters will remain in Tampa.