Global Net Lease, Inc. (NYSE: GNL) has successfully closed the second phase of the sale of its multi-tenant portfolio to RCG Ventures, LLC. The sale of 28 properties has generated approximately $400 million in gross proceeds. The company remains on track to complete the third and final phase of the sale, consisting of 12 encumbered properties, by the end of the second quarter of 2025.
CEO Michael Weil stated that the successful closing of the second phase reflects the company's commitment to executing its strategic plan, including lowering leverage and completing the transformation to a dedicated single-tenant portfolio. The first phase of the multi-tenant portfolio sale, completed in March 2025, generated approximately $1.1 billion in gross proceeds upon closing.
The incremental net proceeds from the final two phases are expected to be used to reduce leverage by paying down the outstanding balance on GNL’s revolving credit facility. This initiative aims to reinforce the company's balance sheet, maintain strong liquidity, and provide financial flexibility to support long-term growth and further strengthen the capital structure.
Global Net Lease, Inc. is a publicly traded internally managed real estate investment trust that focuses on acquiring and managing a global portfolio of income-producing net lease assets across the U.S., and Western and Northern Europe. The market has reacted to these announcements by moving the company's shares -2.34% to a price of $7.50. Check out the company's full 8-K submission here.
