Four Law Firms Lead Global Net Lease’s $535 Million Modiv Deal

Global Net Lease’s Strategic Move into Industrial Real Estate

On Monday, May 4, 2026, Global Net Lease announced a $535 million purchase of Modiv Industrial, a real‑estate investment trust focused on industrial properties. The deal marks a significant expansion for Global Net Lease, which has historically concentrated on multifamily and office assets. By adding Modiv’s portfolio, the company broadens its exposure to the growing demand for logistics and distribution centers that support e‑commerce and supply‑chain resilience.

Three of the largest U.S. law firms—Paul Weiss Rifkind Wharton & Garrison LLP, Greenberg Traurig LLP, and Morrison Foerster LLP—joined forces with Venable LLP to advise Global Net Lease on the transaction. Their combined expertise spans mergers and acquisitions, real‑estate finance, and regulatory compliance, ensuring a smooth transfer of ownership and integration of Modiv’s assets into Global Net Lease’s existing structure.

The announcement comes at a time when the legal industry is navigating a shift toward artificial intelligence tools, as highlighted by a recent Law360 Pulse survey. While the acquisition itself is a traditional deal, the involvement of these four firms underscores the importance of seasoned counsel in navigating complex cross‑border and sector‑specific challenges.

Below, we break down the key aspects of the transaction, the role of each advisory firm, and what this move means for Global Net Lease’s future strategy.

1. Paul Weiss Rifkind Wharton & Garrison LLP: Structuring the Deal

   Paul Weiss Rifkind Wharton & Garrison LLP led the negotiation of the purchase agreement, focusing on the financial structure and risk allocation. Their team drafted the definitive agreement that sets the purchase price at $535 million, detailing the payment schedule, escrow arrangements, and representations and warranties. The firm also coordinated the due diligence process, gathering Modiv’s financial statements, lease agreements, and environmental reports to assess potential liabilities.

   By leveraging its extensive experience in real‑estate M&A, Paul Weiss Rifkind Wharton & Garrison LLP helped Global Net Lease secure favorable terms that protect against post‑closing adjustments. The firm’s approach ensures that the transaction aligns with the company’s long‑term growth objectives while maintaining compliance with securities regulations.

2. Greenberg Traurig LLP: Navigating Regulatory Hurdles

   Greenberg Traurig LLP handled the regulatory review required for the acquisition. The firm prepared filings with the U.S. Securities and Exchange Commission, addressed antitrust considerations, and coordinated with state and local authorities to secure necessary approvals. Their work also involved drafting disclosure documents for investors, ensuring transparency about the transaction’s impact on Global Net Lease’s capital structure.

   In addition, Greenberg Traurig LLP advised on the tax implications of the deal, structuring the transaction to minimize exposure to corporate tax rates and to take advantage of available deductions related to property acquisition. Their guidance helped Global Net Lease maintain a favorable tax profile post‑acquisition.

3. Morrison Foerster LLP: Managing Post‑Closing Integration

   Morrison Foerster LLP focused on the integration phase, working closely with Global Net Lease’s asset‑management team to incorporate Modiv’s portfolio into the company’s operating framework. The firm developed a transition plan that outlines the transfer of property management responsibilities, lease renegotiations, and the alignment of maintenance schedules.

   They also provided counsel on the governance structure for the newly acquired assets, ensuring that the company’s board and senior management have clear oversight of the industrial properties. Morrison Foerster LLP’s role is critical in maintaining operational continuity and preserving tenant relationships during the transition.

4. Venable LLP: Finalizing Financial and Legal Documentation

   Venable LLP completed the legal and financial documentation required to close the transaction. The firm drafted the closing documents, including the assignment of leases, the transfer of title, and the execution of ancillary agreements such as service contracts and insurance policies. Venable’s team also coordinated the escrow release, ensuring that the $535 million payment was distributed according to the agreed schedule.

   Beyond the closing paperwork, Venable LLP assisted Global Net Lease in preparing investor communications, outlining the strategic rationale behind the acquisition and the expected benefits. Their work helped secure shareholder approval and reinforced investor confidence in the company’s expansion strategy.