Exterior of office building A Bannockburn, IL office property long-term leased to Shire, part of the 6.8-million-square-foot portfolio Oak Street sold to Stonemont.

ATLANTA—Stonemont Financial Group said Friday it had acquired a net lease portfolio from Chicago-based Oak Street Real Estate Capital for $1.3 billion. The deal, Stonemont’s largest to date, was reported by the Wall Street Journal earlier this week.

Comprising 97 office, retail and industrial properties spread across 20 states, the 6.8-million-square-foot portfolio marks the first acquisition of Stonemont’s new investment-grade income fund. The core-plus investment fund is focused on long-term, diversified assets, the WSJ reported.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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