Justin R. Salon, Shane M. Shelley, Marc D. Young, John Hensley, and Katherine A. Shaia
REITs, Federal Tax, and Real Estate
MoFo News Item
Morrison & Foerster LLP represented the underwriters in connection with the initial public offering of 2,900,000 shares of common stock of Plymouth Industrial REIT, Inc. The common stock is listed on the NYSE MKT under the symbol “PLYM.” The offering closed on June 14, 2017.
Based in Boston, MA, Plymouth Industrial REIT, Inc. is a full service, vertically integrated, self-administered and self-managed real estate investment trust focused on the acquisition, ownership and management of single and multi-tenant Class B industrial properties, including distribution centers, warehouses and light industrial properties, primarily located in secondary and select primary markets across the United States.
Plymouth’s initial public offering is one of only four successful REIT IPOs in 2017.
MoFo’s nationally recognized REIT practice is actively involved in advising REITs and REIT sponsors, contributors, investors, investment advisers, underwriters, and institutional lenders on all aspects of REIT activity. Recent REIT IPOs our attorneys have advised on include: MedEquities Realty Trust, Inc.’s $256 million initial public offering (NYSE: MRT), Jernigan Capital, Inc.’s $115 million initial public offering (NYSE: JCAP), and the underwriters in connection with Community Healthcare Trust’s $136.5 million initial public offering (NYSE: CHCT).
The MoFo team advising the underwriters was led by Washington, D.C. corporate partner Justin Salon and associates John Hensley, Katherine Shaia, and David Block, with tax assistance from partner Shane Shelley (San Diego) and associates Jess Stern (San Francisco) and Clara Lim (Los Angeles), and real estate assistance from partner Marc Young (Los Angeles) and associate Adam Hopkins (Los Angeles).
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