Legal and Advisory Teams Involved in the Transaction
Multiple prominent law firms are advising both parties in the transaction. GNL has enlisted Paul Weiss Rifkind Wharton & Garrison LLP to guide it through the deal. On the buyer’s side, RCG Ventures is receiving legal counsel from McGuireWoods LLP on matters related to real estate acquisition and financing, while King & Spalding LLP is advising on fund formation and transaction-related legal issues.
Strategic Shift Positions GNL for Long-Term Growth
GNL has been actively repositioning its portfolio to move away from multi-tenant properties and concentrate exclusively on single-tenant net leases, a strategy that the company believes will provide a more stable and predictable revenue stream.
“We believe the proposed sale of our multi-tenant portfolio is a strategic and prudent transaction that will bolster our balance sheet and position GNL for continued success,” the company said in a statement.
The transaction is subject to customary closing conditions and is expected to be finalized later this year.
