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Cerberus sells Tenet Equity unit to CBRE Investment Management for $1.6B

Tenet Equity, founded in 2021, provides triple-net-lease financing and has a portfolio of 200-plus properties totaling about 12 million square feet across 39 states.

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Cerberus Capital Management has sold Tenet Equity to CBRE Investment Management in a deal valued at $1.6 billion, according to ConnectCRE. CBRE Investment Management will invest through multiple investment strategies, the outlet said.

Tenet Equity, founded in 2021, offers triple-net-lease financing to middle-market companies and financial sponsors across the United States. Over the past five years, the company has expanded, ConnectCRE reported.

ConnectCRE said Tenet Equity’s current portfolio includes 200-plus properties totaling approximately 12 million square feet across 39 states, spanning 26 industries and more than 65 tenants. Cerberus said it built the platform into a source of financing for growing middle-market companies.

The transaction included Evercore as exclusive financial advisor to Cerberus and Kirkland & Ellis LLP as legal counsel, ConnectCRE reported.

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