09:20 AM EDT, 04/09/2024 (MT Newswires) -- Blue Owl Capital (OWL) said Tuesday it is buying real estate lender Prima Capital Advisors for $170 million.

The deal is expected to close in Q2 or Q3, the company said.

The acquisition will be funded via a mix of about $157 million of equity and around $13 million in cash, Blue Owl said, adding there's also potential for up to $35 million of earnout consideration through equity.

Prima manages about $10 billion in assets and focuses on investing in commercial mortgage-backed securities, Blue Owl said.

Price: 19.72, Change: +0.12, Percent Change: +0.61