Sidley represented Princeton, New Jersey-based Essential Properties Realty Trust, Inc. in its US$451.5 million secondary offering of common stock that closed in July 2019. The company is an internally managed real estate investment trust (REIT) that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to middle-market companies operating service oriented or experience-based businesses. Essential Properties is sponsored by Eldridge Industries, a private investment firm that specializes in providing both debt and equity capital. Sidley represented Essential in its US$455 million IPO in 2018 and in every capital markets offering since.
The Sidley deal team, based primarily in New York, included REIT capital markets partners Bart Sheehan and Jerry Cummins and associate Nicole Garrett. Partner Chris Brause and senior counsel David Miller headed up the tax team with assistance from associate Lena Qiu. Partner Corey Perry worked on executive compensation matters, and associate Katie Klaben handled Section 16 reporting. Partner Bob Lewis and counsel Kathy Cabral led a Chicago-based Sidley team in the revolving credit facility.
