CBRE Investment Management Acquires $1.6 Billion Tenet Net-Lease Platform from Cerberus
CBRE Investment Management acquired the Tenet Equity net-lease platform for $1.6 billion, enhancing its presence in operational real estate with a portfolio of 208 properties across 39 states and over 12 million square feet. The assets are fully leased to more than 65 tenants spanning 26 industries, with an average lease term of 16.7 years. This acquisition provides CBRE IM with a scalable platform focused on sale-leasebacks for middle-market companies seeking capital while retaining control of their facilities. The deal reflects broader trends in the net-lease market: overall investment volume rose by 13.6% to $57 billion, but U.S. sale-leaseback activity fell sharply by 59%. CBRE IM plans to expand Tenet’s strategy under senior portfolio manager Akash Shivashankara and is expected to continue acquiring additional net-lease assets. The transaction highlights the growing institutional interest in long-term operational real estate despite a decline in corporate monetization. With only about 1% of North American corporate-owned operational properties currently held by institutions, CBRE IM sees significant growth potential through Tenet’s established platform and diversified tenant base.
Topics: CBRE Investment Management Cerberus Capital Management net-lease platform real estate