Cerberus Sells Tenet Equity to CBRE Investment Management for $1.6 Billion

PR Newswire··US·Read original
2▲1 ▼0Impact / 5
Summary · why it matters

Cerberus Capital Management has sold Tenet Equity, a national net lease investment platform it founded in 2021, to CBRE Investment Management for $1.6 billion. The sale, announced today, involves funds and accounts managed by Cerberus, with CBRE investing on behalf of several of its strategies. Tenet, which provides triple net lease financing to middle-market companies, has grown to include over 200 properties totaling approximately 12 million square feet across 39 states and 26 industries. Cerberus executives highlighted the company's success and its position for future growth, while Evercore served as exclusive financial advisor and Kirkland & Ellis LLP as legal counsel to Cerberus.

Impact on assets 2

Financials▲ · 1 stocks
Evercore Partners Inc
EVR
▲ PositiveCapitalrelevance

Evercore served as exclusive financial advisor on the $1.6B Tenet Equity sale, earning advisory fees.

Health Care▲ · 1 stocks

Off-coverage companies 3

Tenet EquityPrivate▲ Positive
Capitalrelevance

Tenet Equity is the subject of the $1.6B sale from Cerberus to CBRE Investment Management.

CBRE Investment ManagementPrivate▲ Positive
Capitalrelevance

CBRE Investment Management is the acquirer of Tenet Equity for $1.6 billion, expanding its net lease platform.

Kirkland & Ellis LLPPrivate± Mixed
relevance

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