MoFo News Item

MoFo Advises Sovereign Investor on Joint Venture with Industrial Logistics Properties Trust

10 Mar 2022

Morrison & Foerster advised the sovereign joint venture investor in the formation of a joint venture with Industrial Logistics Properties Trust, in connection with ILPT’s approximately $4 billion acquisition of Monmouth Real Estate Investment Corporation.

The Monmouth portfolio consists of 126 Class A, single-tenant, net-leased, e-commerce-focused industrial properties totaling more than 26 million square feet of space. The portfolio has a weighted average lease term of about eight years, is 99.7 percent occupied, and is more than 80 percent leased to investment-grade tenants.

The deal team representing Rosewood was led by New York corporate partner Larry Medvinsky and Boston of counsel Kevin Madden, together with Boston associate Zachary Jacobson and New York associate Andrew Ravits.

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