By Mike Stone | Reuters
Real estate owner Store Capital, backed by private equity firm Oaktree Capital Management LLC, has retained banks to explore an initial public offering or a sale to another landlord, said people familiar with the situation.
Scottsdale, Arizona-based Store Capital buys portfolios of real estate from large tenants, such as chain restaurants, supermarkets and health clubs, and then leases the properties back to the tenants.
An IPO of Store, which stands for Single Tenant Operational Real Estate, could raise $300 million to $500 million and value the entire company at around $2 billion, the people said, asking not to be named because the matter is not public.
