Global Net Lease Acquires Modiv Industrial

Paul, Weiss advised Global Net Lease, Inc., a publicly traded real estate investment trust, on its all-stock acquisition of Modiv Industrial, Inc., an internally managed REIT focused on single-tenant net-lease industrial manufacturing real estate and valued at approximately $535 million. Under the terms of the deal, each share of Modiv common stock was converted into the right to receive 1.975 newly issued shares of GNL common stock, while each share of Modiv preferred stock was converted into the right to receive $25.00 in cash. Existing Global Net Lease stockholders now own approximately 89% of the combined company, while former Modiv stockholders own approximately 11%. 

The Paul, Weiss team was led by corporate partners Ross Fieldston and Jeffrey Marell, and included partners Kerri Durso and David Sobel and counsel Harshini Kanduru; tax partners Scott Sontag and Kiran Sheffrin; executive compensation partner Lawrence Witdorchic; real estate partner Peter Fisch; intellectual property partner Claudine Meredith-Goujon; environmental partner Stephanie Gitler; and litigation partner Pietro Signoracci.