Global Net Lease, Inc. (NYSE: GNL) has successfully closed the second phase of its multi-tenant portfolio sale, generating approximately $400 million in gross proceeds. This sale included 28 encumbered properties and is part of the company's strategic plan to lower leverage and transition to a dedicated single-tenant portfolio.
The company remains on track to complete the third and final phase of the multi-tenant portfolio sale, which consists of 12 encumbered properties, by the end of the second quarter of 2025. The incremental net proceeds from these phases are expected to be used to reduce leverage by paying down the outstanding balance on GNL’s revolving credit facility.
This successful closing of the second phase follows the completion of the first phase in March 2025, which generated approximately $1.1 billion in gross proceeds upon closing.
Michael Weil, CEO of GNL, highlighted the significance of the multi-tenant portfolio sale, emphasizing the company's commitment to executing its strategic plan, reinforcing its balance sheet, and maintaining strong liquidity. He also expressed the company's focus on leveraging the financial flexibility created to support GNL’s long-term growth and further strengthen its 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. 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. For more information, read the company's full 8-K submission here.
