DLA Piper-Led Store Capital Gets $377M Berkshire Investment

Dianna Christensen
June 28, 2017

Store Capital markets itself as a leader in "Single Tenant Operational Real Estate", and has investments in over 1750 property locations with a total value over $5.5 billion as at 31 March 2017, according to the company's website.

Argus began new coverage on Berkshire Hathaway giving the company a " rating.

Berkshire bought 18.6 million newly issued shares of Store Capital for $20.25 each, a 2.5% discount to the stock's Friday closing price.

Store Capital shares rose more than 10 percent midday Monday after the news. Matt Levine, a Bloomberg columnist, put it best in a newsletter following Buffett's C$2 billion credit line to Home Capital last week. In 2016, he said he didn't believe that United States real estate was in a bubble.

A number of investment brokers have recently updated their price targets on shares of Berkshire Hathaway (NYSE:BRK-B).

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Buffett has said real estate was a solid investment that was less volatile than stock prices and likely to produce gains.

We don't yet know Berkshire's exact reasons for the investment in Store Capital, or if the investment was initiated by Buffett himself or someone else.

Berkshire Hathaway did not immediately respond to a request for comment.

When Woodruff asked whether the country needed to "think about some sort of single-payer system", Buffett said it would be the more effective way to bring down costs.

The firm's biggest customers include a Midwestern furniture retailer, movie-theater chain AMC Entertainment Holdings Inc. and a chain of preschools. It is not clear who at the company is directly responsible for the Store Capital investment. The stock's market capitalization is 274.91M. The investment makes it Store's third-largest investor, after Vanguard Group and Fidelity.

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