Stonemont Debuts Income Fund with $1.3B Buy

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.