January 8, 2020 (New York) – International law firm Proskauer advised client Bed, Bath & Beyond Inc. (Nasdaq: BBBY) on a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital, generating over $250 million in net proceeds.
The properties sold represent approximately 2.1 million square feet of commercial space, including retail stores, a distribution facility and office space. Bed Bath & Beyond will continue to occupy these properties pursuant to long-term leases.
Bed Bath & Beyond Inc. is an omnichannel retailer that is the trusted expert for the home and heart-felt life events. The company sells a wide assortment of domestics merchandise and home furnishings.
The Proskauer team was led by partners Christopher Pennington (Real Estate) and Michael Ellis (Corporate) and included partner Stuart Rosow (Tax), senior counsel Aliza Cinamon (Environmental) and associate Steven Koppell (Real Estate).
Our lawyers have expertise in areas of the law that are frequently involved in real estate matters, such as bankruptcy, tax, transactional, finance, litigation, labor and employment, environmental and insurance recovery. We counsel a wide variety of leading asset managers, public and private real estate owners and developers, REITs, institutional lenders and investors, commercial tenants, luxury retailers, investment banks, real estate funds, sovereign wealth funds, family offices, underwriters of real estate securities and pension advisors.