Venable serves as co-counsel to Cole Real Estate Investments in agreement to create largest triple-net lease REIT

1 min

Venable served as co-counsel to Cole Real Estate Investments in connection with its agreement to be acquired by American Realty Capital Properties. Jim HanksJeff Keehn and Nick Collevecchio worked on the matter. This agreement was preceded by CREI’s acquisition in April of its external manager, Cole Holdings, on which Jim and Sharon Kroupa, Chris Pate and Brian Field worked. The agreement by ARCP to acquire CREI for $11.2 billion in enterprise value is expected to result in a combined portfolio of 3,732 properties and 102 million square feet of space. The planned merger, approved by both companies’ boards of directors but subject to closing conditions, would create the largest triple-net lease REIT, valued at $21.5 billion dollars.

Multiple publications featured news of the transaction, including Bloomberg, Real Estate Weekly, Commercial Observer and The Wall Street Journal.