Polsinelli, an Am Law 100 firm, recently announced that it closed a multimillion dollar deal between Colony Capital and Global Net Lease REIT Gramercy Property Trust.
Polsinelli represented Colony Capital in its sale of an industrial property in Littleton, Mass. to Gramercy Property Trust. The Littleton property is a newly-constructed 448,470-square-foot distribution center leased to a multi-brand retailer.
“The Littleton transaction is a great example of the persistent appetite for net-lease strategies where Colony’s aim was to create a win-win scenario for all parties involved,” said Georges Asmar, global head of net lease at Colony Capital Acquisitions. “This deal represents a case study for a high quality industrial property, which offers a great value add for the tenant’s competitiveness and great yielding potential for the new owner.”
The Polsinelli team included Brooks Clark (lead counsel), shareholder; Sarah Armendariz, associate; and Cora Blackwell, Real Estate analyst. Polsinelli also represented Colony Capital in the acquisition of the property, which included negotiating a long term net lease and the terms of the construction of the facility with the tenant.