CHICAGO – April 1, 2025 – Global law firm Greenberg Traurig, LLP represented Global Net Lease, Inc. (GNL) in the first phase of its multitenant real estate portfolio sale to RCG Ventures, LLC.
The initial phase, which comprised 59 retail properties, was sold for approximately $1.1 billion. The remaining two phases are scheduled to close by the end of the second quarter of 2025.
GNL previously entered into a binding agreement with RCG to sell its multitenant portfolio of 100 non-core properties for approximately $1.8 billion, according to the company’s press release. Greenberg Traurig continues to advise GNL on this multiphase transaction, together with co-counsel Paul, Weiss, Rifkind, Wharton & Garrison, LLP.
“Greenberg Traurig is honored to act as GNL’s trusted corporate and real estate counsel and to assist GNL in this strategic deal,” said Greenberg Traurig Co-President Michael J. Baum, a Chicago-based co-chair of the firm’s Global Real Estate Practice, and Orlando office Co-Managing Shareholder Jonathan M. Perry, who served as co-counsel to GNL in the transaction. “We look forward to our continued partnership with GNL to support its long-term growth and success.”
GNL Executive Vice President and General Counsel Jesse Charles Galloway said, “The Greenberg Traurig team has provided GNL with excellent representation for many years, and their ability to effectively and efficiently handle a transaction of this complexity demonstrates the value of our continued engagement.”
In addition to Baum and Perry, the Greenberg Traurig team representing GNL was led by Shareholder Joseph A. Herz, co-chair of the firm’s New York Corporate Department and Real Estate Investment Trusts (REIT) Practice, as well as Charlotte Of Counsel Ryan Reimers. They were assisted by Orlando Associate Jonathan R. Pickett. In total, the deal team comprised more than 40 Greenberg Traurig attorneys from seven offices nationwide.