Store Capital, a real estate investment trust, said Monday that Berkshire Hathaway invested $377 million in the company.
That amounted to 9.8% of outstanding shares purchased at $20.25 apiece, Store Capital said in a statement. Its shares gained by as much as 11% to $23.10 in premarket trading.
Store Capital invests in single-tenant real estate for profit.
“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,” said Christopher Holk, Store Capital’s CEO. He was referring to Berkshire Hathaway Chairman Warren Buffett.
Full story at Business Insider