Summary of the acquisition of Global Net Lease Inc. in the second quarter
NEW YORK – Global Net Lease Inc. announced details of its completed acquisitions and divestitures beginning in the second quarter of 2019. The transactions include industrial, sales and office acquisitions.
The company sold 63 properties in the United States for gross proceeds of $ 74.2 million, consisting of 62 family dollar retail stores and one industrial property. The company also sold a UK office property for £ 7.2m.
In addition, the company announced nine real estate acquisitions in the second quarter of 2019, valued at 1.6 million square feet for $ 187.3 million. The properties acquired were acquired with a weighted average capitalization rate of 7.09%, which corresponds to a weighted average capitalization rate of 7.09%, 7.67% with a weighted average remaining lease period of 10.9 years. Global Net Lease funded the transactions through its revolving credit facility, mortgage debt and net proceeds from its ATM programs.
Global Net Lease Inc. is a real estate investment trust that focuses on the acquisition of industrial, retail and office properties and is leased to corporate tenants in the US and Europe on a long-term basis.