Sila Realty Trust
Sila Realty Trust is a Tampa-based, publicly traded net-lease REIT (NYSE: SILA) that invests exclusively in U.S. healthcare real estate, owning 137 healthcare facilities leased under triple-net structures to market-leading medical providers across 23+ states.
- Company typePublic
- Founded2014
- HeadquartersTampa, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Sila Realty Trust does
Sila Realty Trust, Inc. (NYSE: SILA) is a Tampa, Florida-based net-lease real estate investment trust that invests exclusively in healthcare properties across the United States. Founded in 2014 by Michael A. Seton, the company owns and leases 137 healthcare facilities totaling 5.3 million rentable square feet and approximately $2.4 billion in real estate investment across 23+ U.S. states, with a portfolio leased rate of 98.7% and a 10.1-year weighted average remaining lease term. The portfolio spans Medical Outpatient Buildings (86 facilities), Inpatient Rehabilitation Facilities (25 facilities), and Surgical & Specialty Facilities (26 facilities), leased almost entirely (99.9%) under triple-net structures that transfer operating-expense, tax, and insurance risk to healthcare provider tenants, with 2.1% embedded annual rent escalations.
The business model is straightforward triple-net rental income generation: tenants pay base rent plus property-level expense reimbursements under long-duration leases, producing predictable, contractually escalating cash flows with 40.6% of the portfolio backed by investment-grade tenant guarantors and a portfolio-wide 5.9x EBITDARM rent coverage cushion. Growth is driven by acquiring new healthcare facilities (the company deployed $148.9 million across six properties in 2025) and executing selective dispositions, with stated annual deployment targets of $225–$375 million funded by a $480 million liquidity pool and a $250 million unsecured term loan. The company began trading on the NYSE in June 2024 under ticker SILA, has historically targeted a 5.3% dividend yield ($0.40 quarterly, $1.60 annualized), and is currently undergoing a $2.4 billion all-cash going-private acquisition by affiliates of Blue Owl Real Estate Capital LLC at $30.38 per share, expected to close in Q2 or Q3 2026.
Operationally, Sila runs an unusually lean platform for a public REIT, with a 12-person executive leadership team executing the hybrid work schedule out of a LEED Certified and WELL Gold Certified corporate headquarters in Tampa. The go-to-market is investment-led: capital is sourced through the public equity markets (and previously through FINRA-regulated dealer-manager activities for affiliate fund securities), then deployed into healthcare real estate via direct underwriting and broker relationships with counterparties such as Harrison Street and Tampa General Hospital. The company is also subject to several pending shareholder-fiduciary-duty investigations tied to the Blue Owl transaction, and historically has been covered by sell-side research from Wells Fargo, Truist, and BofA Securities.
Sila Realty Trust firmographics
Firmographics- Name
- Sila Realty Trust
- Legal name
- Sila Realty Trust, Inc.
- Website
- https://silarealtytrust.com
- Company type
- Public
- Founded year
- 2014
- Operating status
- Acquired
- Headcount range
- 11–50 employees
- Short description
- Sila Realty Trust is a Tampa-based, publicly traded net-lease REIT (NYSE: SILA) that invests exclusively in U.S. healthcare real estate, owning 137 healthcare facilities leased under triple-net structures to market-leading medical providers across 23+ states.
- Ownership category
- akta.pro rank
Sila Realty Trust industry classification
Industry- Product category
- Healthcare Net-Lease REIT
- NAICS
- Trusts, Estates, and Agency Accounts (52592)
- SIC
- Real Estate Investment Trusts (6798)
- akta.pro primary industry
- Healthcare & Senior Housing Real Estate Asset Management (BPAJAMAH)
- akta.pro secondary industries
- Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL), REITs & Listed Real Estate Securities (FSAAAKAD)
Keywords
Where Sila Realty Trust is headquartered
LocationHeadquarters
- HQ city
- Tampa
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Sila Realty Trust business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Others, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Triple-Net Rental Income: Recurring rental income from a 137-property healthcare net-lease portfolio with 98.7% leased rate, 10.1-year weighted average remaining lease term, and built-in 2.1% annual rent escalations. Tenants pay base rent and reimburse property-level operating expenses under triple-net structures.
- Property Acquisitions and Dispositions: Growth driven by acquiring new healthcare facilities ($148.9M deployed across six properties in 2025) and executing planned dispositions, with redevelopment completions adding incremental NOI.
- Affiliate Fund Securities Distribution (Historical): Acts as dealer manager (Member FINRA/SIPC) for securities offerings of affiliate funds, distributing real estate securities offerings subject to regulatory requirements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Quarterly dividend: $0.40 per share / $1.60 annualized (5.3% yield as of Apr 2026) |
| One time/ perpetual license | Pay-as-you-go | Blue Owl acquisition: $30.38 per share all-cash at a 19% premium to April 17, 2026 closing price of $25.53 |
| Other | Annual | Annual rent escalations: 2.1% built into leases |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Sila Realty Trust product offering
Product offeringCore offering
Sila Realty Trust is a publicly traded net-lease real estate investment trust (NYSE: SILA) that invests in healthcare facilities along the continuum of care, including medical outpatient buildings, inpatient rehabilitation facilities, and surgical/specialty hospitals. The company acquires these properties and leases them to market-leading healthcare providers under long-term triple-net lease structures, earning predictable rental income with built-in 2.1% annual escalations while passing property-level operating expenses, taxes, and insurance to tenants. As of March 31, 2026, the portfolio comprised 137 properties totaling 5.3 million rentable square feet and a $2.4 billion real estate investment across 23+ U.S. states.
Product overview
Sila Realty Trust (NYSE: SILA) is a single, unified net-lease real estate investment trust rather than a multi-module software platform; its offering is the consolidated healthcare property portfolio held under triple-net leases, which is organized into three named property categories that together comprise the company's full product set — the Medical Outpatient Building Portfolio (86 facilities), the Inpatient Rehabilitation Facility Portfolio (25 facilities), and the Surgical & Specialty Facility Portfolio (26 facilities) — totaling 137 healthcare properties, 5.3 million rentable square feet, 98.7% leased, 10.1 years of remaining lease term, and 2.1% annual rent escalations as of March 31, 2026.
Differentiator
Problem solved
Functional benefit
Products and services
- Sila Realty Trust Healthcare Net-Lease REIT Portfolio A publicly traded net-lease real estate investment trust (NYSE: SILA) that invests exclusively in healthcare facilities, structured as a single consolidated portfolio of triple-net-leased properties leased to healthcare providers along the continuum of care.
- Medical Outpatient Building Portfolio 86 healthcare facilities classified as Medical Outpatient Buildings located across the U.S., leased on a triple-net basis to healthcare providers and forming the largest segment of the Sila Realty Trust portfolio.
- Inpatient Rehabilitation Facility Portfolio 25 Inpatient Rehabilitation Facilities (IRFs) held in the Sila Realty Trust portfolio, leased to operators along the continuum of care with long-term triple-net leases.
- Surgical & Specialty Facility Portfolio 26 Surgical & Specialty Facilities in the Sila Realty Trust portfolio, including surgical hospitals, long-term acute care, short-term acute care, and behavioral/transitional care facilities leased on a triple-net basis.
Quantifiable outcome
- 98.7% portfolio leased as of March 31, 2026
- +9 more outcomes
Companies that use Sila Realty Trust
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
Sila Realty Trust technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Sila Realty Trust partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- BofA SecuritiescoreActed as exclusive financial advisor to Sila Realty Trust in connection with the $2.4 billion Blue Owl acquisition. BofA Securities is a leading M&A advisor in real estate and advised Sila's Board throughout the transaction process.
- Citigroup Global MarketscoreServed as financial advisor to Blue Owl Capital in connection with the $2.4 billion acquisition of Sila Realty Trust.
- Truist SecuritiescoreServed as financial advisor to Blue Owl Capital in connection with the $2.4 billion acquisition of Sila Realty Trust. Truist Securities also provides ongoing equity research coverage of SILA with a Buy rating.
- Newmark Group, Inc.coreActed as strategic advisor to Blue Owl Capital on the planned $2.4 billion acquisition of Sila Realty Trust. Newmark reported revenues of approximately $3.3 billion for the twelve months ended December 31, 2025, representing 20% year-over-year growth, and is targeting over $2 billion in recurring revenue streams by 2029. Newmark's Real Estate Management & Development sector expertise supported the transaction.
- Harrison StreetminorSeller of Escondido Inpatient Rehabilitation Facility to Sila Realty Trust for $63.4 million (closed August 8, 2022). Harrison Street is a real estate investment manager specializing in alternative real estate assets and serves as a transaction counterparty for portfolio acquisitions.
- ComputersharecoreTransfer agent for Sila Realty Trust, Inc. Handles stockholder records, dividend payments, and investor correspondence; the August 2021 announcement transitioned transfer agent services to Computershare.
- Audit, Tax & Big-4 advisory alumni network (PwC, KPMG)minorSeveral members of Sila's leadership team have prior experience at PwC and KPMG, including the CFO Kay Neely (KPMG audit practice), CAO Samuel Brannan (PwC audit practice), and Chairman Jonathan Kuchin (PwC real estate tax partner). These Big-4 firms are also historical advisors on audit and tax matters.
Scale indicators15 records
Recent moves8 records
Expansion highlights5 records
Sila Realty Trust competitors and assessment
Company assessmentDirect peers
- Healthpeak Properties: Large-cap healthcare REIT (formerly HCP) with a diversified portfolio of outpatient medical, lab/life science, and senior housing properties; directly comparable as a publicly traded healthcare-focused REIT with significant medical outpatient exposure and triple-net lease structures, but at materially larger scale (~$20B+ AUM).
- Welltower: Largest healthcare REIT with senior housing, outpatient medical, and post-acute care exposure; closely comparable to Sila on the outpatient medical and continuum-of-care dimensions, with significant tenant overlap among major U.S. health systems and similar triple-net lease economics.
- Ventas: S&P 500 healthcare REIT with a diversified portfolio across senior housing, medical outpatient, and research/innovation properties; comparable to Sila on outpatient medical exposure and net-lease structure, though with a much larger portfolio and broader asset mix including senior housing operating portfolio.
- Healthcare Realty Trust: Pure-play medical outpatient building REIT with a national portfolio; the most directly comparable peer on the 86-property MOB segment of Sila's portfolio, with similar triple-net lease structures, tenant credit profiles, and demographic/demand drivers.
- Medical Properties Trust: Healthcare REIT specializing in acute care hospitals, inpatient rehabilitation facilities, and behavioral health facilities; directly comparable to Sila's IRF and surgical/specialty segments with similar net-lease structures, though currently operating under significant tenant credit and dividend pressures.
- Omega Healthcare Investors: Healthcare REIT focused on skilled nursing and assisted living facilities; comparable to Sila on the post-acute care dimension and net-lease structure, with a similarly defensive, demographically-tied revenue model, though focused exclusively on skilled nursing/assisted living rather than the broader continuum of care.
- National Health Investors: Healthcare REIT with a portfolio of senior housing, skilled nursing, and medical facilities on triple-net and RIDEA structures; closely comparable to Sila in size, net-lease orientation, and healthcare continuum positioning, though with greater senior housing exposure.
- Global Medical REIT: Small-cap net-lease medical office building REIT; one of the closest scale comparables to Sila with a similar triple-net MOB focus and recent acquisition-driven growth, though with a narrower facility-type mix (predominantly MOB) than Sila's continuum-of-care strategy.
Emerging players
- CareTrust REIT: Triple-net healthcare REIT focused on skilled nursing, seniors housing, and healthcare-related real estate; comparable to Sila on net-lease structure and healthcare credit underwriting, though with a more concentrated SNF exposure and a smaller portfolio.
Broad incumbents
- Sabra Health Care REIT: Healthcare REIT with skilled nursing, senior housing, and behavioral health hospital exposure; comparable to Sila on triple-net structure and post-acute/behavioral dimensions, though more concentrated in SNF and currently operating under operator credit pressures.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Sila Realty Trust social profiles
Digital presenceSila Realty Trust compliance and trust
Trust signalCompliance1 record
Sila Realty Trust financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sila Realty Trust leadership team
Management profileNumber of profiles
Profiles17 records
Sila Realty Trust funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sila Realty Trust M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sila Realty Trust
What does Sila Realty Trust do?
Sila Realty Trust is a publicly traded net-lease real estate investment trust (NYSE: SILA) that invests in healthcare facilities along the continuum of care, including medical outpatient buildings, inpatient rehabilitation facilities, and surgical/specialty hospitals. The company acquires these properties and leases them to market-leading healthcare providers under long-term triple-net lease structures, earning predictable rental income with built-in 2.1% annual escalations while passing property-level operating expenses, taxes, and insurance to tenants. As of March 31, 2026, the portfolio comprised 137 properties totaling 5.3 million rentable square feet and a $2.4 billion real estate investment across 23+ U.S. states.
Is Sila Realty Trust a public or private company?
Sila Realty Trust is a public company. It is classified as public and is currently acquired.
When was Sila Realty Trust founded?
Sila Realty Trust was founded in 2014. It employs 11 to 50 people.
Where is Sila Realty Trust based?
Sila Realty Trust is headquartered in Tampa, United States, in the North America region.
How does Sila Realty Trust make money?
Three revenue lines are on record. Triple-Net Rental Income is the primary driver. The others are property Acquisitions and Dispositions and affiliate Fund Securities Distribution (Historical).
Who are Sila Realty Trust's main competitors?
Direct peers on record are Healthpeak Properties, Welltower, Ventas, Healthcare Realty Trust, Medical Properties Trust, Omega Healthcare Investors, National Health Investors and Global Medical REIT. CareTrust REIT is listed as an emerging player. Sabra Health Care REIT is listed as a broad incumbent.
Does Sila Realty Trust have an API?
No public API is recorded for Sila Realty Trust.
What industry is Sila Realty Trust in?
Sila Realty Trust's product category is Healthcare Net-Lease REIT. Its primary akta.pro industry code is BPAJAMAH, Healthcare & Senior Housing Real Estate Asset Management, with a secondary code of BPAJABAL, Capital Markets Advisory (Equity Placement, JV & Recapitalization). Its NAICS code is 52592 and its SIC code is 6798.