BlackRock Acquires ElmTree Funds For $7.3 Billion Expanding Private Financing Solutions Platform
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Building Size
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Asset Type
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Closing
Jul 7, 2025
About this deal
AI
BlackRock, Inc. has entered into a definitive agreement to acquire ElmTree Funds, a St. Louis-based net-lease real estate investment firm. The transaction will see ElmTree integrated into BlackRock's new Private Financing Solutions platform alongside HPS Investment Partners: a significant move in the real estate sector.
Summary of transaction details:
- Deal Type: Acquisition
- Transaction Amount: N/A
- Company: ElmTree Funds
- Assets Under Management: $7.3 billion
- Headquarters: St. Louis, Missouri
- CEO: James Koman
ElmTree Funds, founded by CEO James Koman, specializes in the industrial build-to-suit market and has a broad presence across the United States. The acquisition aims to enhance BlackRock's capabilities to leverage opportunities arising from structural shifts in the real estate landscape.
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Players
Market CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93