Global Net Lease (GNL) Announces $321M of Completed Dispositions Through Q2

Global Net Lease, Inc. (NYSE: GNL) today announced continued progress on its 2024 strategic disposition plan.

“We are efficiently executing our strategic disposition plan, resulting in over $321 million of completed dispositions through Q2 2024, including $62 million of vacant assets that will eliminate negative impact on our net operating income,” said Michael Weil, CEO of GNL. “The progress on GNL’s disposition strategy has exceeded our 2024 guidance, reflecting our ongoing commitment to provide value to our shareholders by lowering leverage and creating long-term growth. We intend to use the net proceeds from these dispositions to further reduce outstanding debt and bring our Net Debt to Adjusted EBITDA more in line with our net-leased peers.”

GNL has successfully addressed the remaining $155 million2 of outstanding debt previously scheduled to mature in 2024, resulting in zero debt maturities through July 2025.

GNL has furnished a slide detailing the progress of its 2024 strategic disposition plan with a Current Report on Form 8-K with the Securities and Exchange Commission on the date hereof.

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