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Exhibit 5.1

 

2100 L Street, NW
Suite 900
Washington
DC 20037

 

TELEPHONE: 202.887.1500

 

FACSIMILE: 202.887.0763

 

www.mofo.com

morrison & foerster llp

 

amsterdam, austin, berlin,
boston, brussels, denver,

hong kong, london, los angeles,
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san diego, san francisco,
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washington, d.c.
 

 

February 13, 2026

 

Board of Directors 

NETSTREIT Corp. 

2021 McKinney Avenue 

Suite 1150 

Dallas, Texas 75201

 

Re: Public Offering of Common Stock under Registration Statement on Form S-3 (File No. 333-281479)

 

Ladies and Gentlemen:

 

We are acting as counsel to NETSTREIT Corp., a Maryland corporation (the “Company”), in connection with the offering and sale of up to 12,627,000 shares (the “Shares”) of the Company’s common stock, $0.01 par value per share (the “Common Stock”), including 1,647,000 shares of Common Stock that may be sold pursuant to the underwriters’ option to purchase additional shares, pursuant to a prospectus supplement dated February 11, 2026 and the accompanying base prospectus dated August 12, 2024 (such documents, collectively, the “Prospectus”) that form part of the Company’s effective Registration Statement on Form S-3 (File No. 333-281479) (the “Registration Statement”), filed by the Company with the United States Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Securities Act”). The Shares are to be offered pursuant to the terms of: (i) the Underwriting Agreement, dated as of February 11, 2026 (the “Underwriting Agreement”), by and among the Company and NETSTREIT, L.P., Wells Fargo Bank, National Association and Bank of America, N.A., in their capacities as forward purchasers and forward counterparties, and Wells Fargo Securities, LLC and BofA Securities, Inc., as representatives of the underwriters identified in Schedule I thereto; and (ii) the Forward Sale Agreements (as defined in the Underwriting Agreement).

 

As counsel for the Company, we have examined the Underwriting Agreement, the Forward Sale Agreements, the Registration Statement, the Prospectus, the Company’s Articles of Amendment and Restatement, as amended through the date hereof (the “Charter”), and the Company’s Amended and Restated Bylaws, as well as originals or copies, certified or otherwise identified to our satisfaction, of such other documents, corporate records, certificates of public officials and other instruments as we have deemed necessary for the purposes of rendering this opinion and we are familiar with the proceedings taken and proposed to be taken by the Company in connection with the authorization, offering and sale of the Shares. In our examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity with the originals of all documents submitted to us as copies. We have also assumed that the Shares will not be issued in violation of the ownership limit contained in the Charter. This opinion letter is given, and all statements herein are made, in the context of the foregoing.

 

 

 

 

Board of Directors 

NETSTREIT Corp. 

February 13, 2026 

Page Two

 

This opinion letter is based as to matters of law solely on the Maryland General Corporation Law, as amended. We express no opinion herein as to any other laws, statutes, ordinances, rules, or regulations. As used herein, the term “Maryland General Corporation Law, as amended” includes the statutory provisions contained therein, all applicable provisions of the Maryland Constitution and reported judicial decisions interpreting these laws.

 

Based upon the foregoing, and subject to the assumptions, limitations and qualifications stated herein, it is our opinion that following issuance, delivery and payment therefor in the manner contemplated by the Registration Statement, the Prospectus, the Underwriting Agreement, the Forward Sale Agreements and resolutions of the Company’s Board of Directors or a duly authorized committee thereof, the Shares will be validly issued, fully paid and nonassessable.

 

This opinion is furnished to you in connection with the filing by the Company of a Current Report on Form 8-K relating to the offer and sale of the Shares, which Form 8-K will be incorporated by reference into the Registration Statement and Prospectus, and may not be relied upon for any other purpose without our express written consent. No opinion may be implied or inferred beyond the opinion expressly stated. This opinion is given as of the date hereof, and we assume no obligation to advise you of any changes in applicable law or any facts or circumstances that come to our attention after the date hereof that may affect the opinion contained herein.

 

We hereby consent to the filing of this opinion as an exhibit to the above-described Current Report on Form 8-K and to the reference to our firm contained under the heading “Legal Matters” in the Prospectus. In giving this consent, we do not admit that we are in the category of persons whose consent is required by Section 7 of the Securities Act or the rules and regulations promulgated by the Commission.

 

  Very truly yours,
   
  /s/ Morrison & Foerster LLP