CBRE Investment Management acquires Tenet Equity for $1.6 billion

Cerberus announced the sale of Tenet Equity to CBRE Investment Management ($CBRE) for $1.6 billion. CBRE’s investment-management business completed the purchase on behalf of several investment strategies. Tenet specializes in US middle-market corporate real estate, providing companies with sale-and-leaseback financing and other property-based capital solutions while allowing them to continue operating from their facilities.

Tenet’s portfolio includes more than 200 properties totaling approximately 12 million square feet across 39 states, serving over 65 tenants in 26 industries. The transaction expands the real-estate assets managed through CBRE’s investment platform. The stated price is the transaction value, not a disclosed commitment funded entirely from CBRE Group’s corporate balance sheet. The announcement did not provide an earnings-accretion forecast for the listed parent.

Sources:

• Cerberus — Tenet sale announcement, PR Newswire