Berkshire Hathaway Invests $377M in STORE Capital
- Jun 28, 2017
Berkshire Hathaway has invested $377 million in STORE Capital Corp., representing 9.8 percent of outstanding total shares. STORE issued 18.6 million shares of company stock in a private placement to Berkshire at $20.25 per share.
The shares are being offered and sold in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended and Regulation D promulgated thereunder.
“Berkshire Hathaway’s investment solidly positions STORE for continued growth, while adding measurably to our already strong financial position,” said Christopher Volk, president & chief executive officer of STORE Capital, in prepared remarks. “An investment in our company from one of history’s most admired investors represents a vote of confidence in our experienced leadership team and an affirmation of our profit-center real estate investment and management approach.”
STORE Capital owns a large portfolio that consists of investments in over 1,750 property locations, all of which are profit centers in 48 states. The company recently purchased an 18,313-square-foot rehabilitation facility from Mentis Neuro Health, located in the Austin suburb of Dripping Springs, Texas.
Image courtesy of LinkedIn