Global Net Lease, Inc. (NYSE: GNL) has successfully closed the second phase of the sale of its multi-tenant portfolio to RCG Ventures, LLC, generating approximately $400 million in gross proceeds. This comes after the first phase of the sale in March 2025, which generated approximately $1.1 billion in gross proceeds.
The company remains on track to complete the third and final phase of the multi-tenant portfolio sale, consisting of 12 encumbered properties, by the end of the second quarter of 2025. 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.
GNL's CEO, Michael Weil, emphasized the importance of this sale in the company's transformation, stating it reflects their commitment to executing their strategic plan, specifically lowering leverage and completing the transformation to a dedicated single-tenant portfolio, reinforcing their balance sheet, and maintaining strong liquidity.
GNL 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. As a result of these announcements, the company's shares have moved -2.34% on the market, and are now trading at a price of $7.50. Check out the company's full 8-K submission here.
