Michelle Napoliis editor of Net Lease forum, from whichthis article is excerpted.

New York City—Steve Olsen and the team behind CBRichard Ellis Investors' Global Net Lease Partners havelaunched a new investment fund, the Prescott-GNLP CorporateTrust LP, whose investors include the Gordon P. Getty FamilyTrusts. Structured as a private REIT, the fund is expected tohave a total of $150 million of equity that should translate tobetween $500 million and $600 million of acquisitions in thesingle-tenant office and industrial sectors.

The fund's management company, GNLP Capital LLC, isjointly owned by the Global Net Lease Partners principalsand an affiliate of Prescott Capital Management LLC. Thelatter is part of New York City-based the Prescott GroupLLC, a real estate investment banking firm which counts amongits investors—both at the corporate level and in its propertyinvestment vehicles—the Getty Trusts. While the new fund is not aCBREI entity, Olsen says his group remains actively involved withthe company.