DLA Piper represented PECO Real Estate Partners in the formation of PREP Property Group, LLC (PREP), a strategic joint venture with Almanac Realty Investors, LLC. Almanac has committed to invest up to $300 million into PREP, a retail focused real estate company, to continue the investment strategies of PECO Real Estate Partners.

Based in Park City, Utah, PREP is a vertically-integrated real estate company that focuses on building retailer relationships through its experienced acquisitions, leasing, management, and development teams.

The DLA Piper team representing PECO Real Estate Partners, LLC was led by partner Jay Sullivan, of counsel Nicole Daley and associate Alexandra Klingenstein (all of Boston) and included partners John Sullivan, Bruce Wickersham (all of Boston), Richard Marks (Washington, DC), Stephen Sharkey, Joseph Langhirt (all of Baltimore), Robert Bergdolt (Raleigh), Jack Kantrowitz (New York), John Grady (Philadelphia), associates Thanos Matthai and George Lilov (all of Boston), Andrew Davisson (Raleigh), MaryJean Wu (Baltimore) and Phillip Lee (Washington, DC).