Private equity firm Oak Street Real Estate Capital, LLC has reportedly offered to acquire as much as $2 billion in property from Kohl’s Corp.
Oak Street offered between $1.5 billion and $2 billion to buy real estate from Kohl’s, and the two sides met in the last few days to discuss a possible deal, sources told CNBC. Sources added that there is no certainty the negotiations would continue and that they would reach an agreement.
Kohl’s has about 1,100 stores, and it’s uncertain how many locations would be involved in a deal with Oak Street.
Oak Street’s interest follows Kohl’s move to end negotiations with selling itself to Franchise Group, Inc., owner of the Vitamin Shoppe, for almost $8 billion in July due to market turmoil.
