Global Net Lease Continues Momentum of Strategic Disposition Initiative With Sales of the Plant Shopping Center and Foster Wheeler Office
Global Net Lease, Inc. (GNL)
Last global net lease, inc. earnings: 2/26 06:00 am
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globalnetlease.com
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Source: GlobeNewswire
NEW YORK, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) today announced continued progress in its 2024 strategic disposition plan with the sales of The Plant Shopping Center in San Jose, California for $95 million and the Foster Wheeler office property in Shinfield Park, Reading, United Kingdom for over $27 million. As of August 31, 2024, GNL has closed or secured agreements for dispositions totaling $854 million at a cash cap rate of 7.2%1. GNL used the net proceeds from The Plant Shopping Center sale to pay down its Revolving Credit Facility. To maximize the property’s value for a sale, GNL strategically subdivided the asset into two separate parcels, bifurcating The Plant Shopping Center from an adjacent single-tenant property. GNL believes this broadened the potential buyer pool and enabled the Company to secure premium pricing for the parcel with the multi-tenant shopping center. The newly created parcel that GNL retained owners
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GNL
Earnings
- 8/6/24 - Miss
GNL
Sec Filings
- 9/19/24 - Form 8-K
- 9/16/24 - Form 4
- 9/4/24 - Form 8-K
- GNL's page on the SEC website