Lawyers from Carey Olsen’s corporate team in Jersey have advised Realty Income Corporation (Realty) on the acquisition of 12 Sainsbury’s superstores from British Land.

The recently completed £429 million deal is Realty’s first international real estate acquisition.

Working alongside Gibson Dunn & Crutcher and Gowling WLG, the Carey Olsen team advising Realty was led by partner James Mulholland and assisted by counsel Claire Le Quesne and associate Stephanie Hobbs.

James said: “Realty has a phenomenal reputation in the US for dealmaking and we are delighted to have worked alongside their other legal advisers to successfully close its first investment in the UK.”