Kirkland Advises Cerberus on Sale of Tenet Equity to CBRE Investment Management

Kirkland & Ellis advised Cerberus Capital Management, L.P., a global alternative investment firm with established corporate credit and real estate platforms, on the sale of Tenet Equity to CBRE Investment Management for $1.6 billion. Cerberus created Tenet in 2021 and since that time has assembled a portfolio over 200 properties totaling approximately 12 million square feet across 39 states and more than 65 tenants in multiple industries. Tenet’s net lease sale-leaseback strategy is designed to unlock capital for its tenants to invest in growth, expansion and strategic initiatives while allowing them to maintain operational control of their most critical facilities.

Read the transaction press release

The Kirkland team included real estate lawyers Richard Grossmann, Andy Small and Ari Stavsky; corporate lawyers Luke Guerra and Joe Porter; tax lawyers Mike Beinus and Lora Shub-Brown; and executive compensation lawyers Mike Krasnovsky and Kelsie Harris.