Accelerating its growth in real estate credit, Carlyle announced that its Global Credit platform has agreed to acquire iStar Inc.'s net lease business for an enterprise value of approximately $3 billion. Equity will come from a combination of Carlyle's Global Credit platform and a minority balance sheet investment from Carlyle.
The acquisition is expected to close in Q1 2022.
Through the transaction, Global Credit will gain a diversified portfolio of triple-net leases spanning industrial, office and entertainment properties across 18.3 million square feet located throughout the United States.
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