Global Net Lease(US:GNL) Newsfilterยท2024-07-09 10:00Core Viewpoint - Global Net Lease, Inc. (GNL) is making significant progress on its 2024 strategic disposition plan, which includes addressing outstanding debt and executing asset dispositions to enhance shareholder value. Group 1: Strategic Disposition Plan - GNL has completed over $321 million in dispositions through Q2 2024, including $62 million from vacant assets, which will help eliminate negative impacts on net operating income [5]. - The total dispositions, including those in the pipeline, amount to $695 million at a 7.2% cash cap rate with a weighted average lease term of 4.4 years [5]. - The company aims to use the net proceeds from these dispositions to further reduce outstanding debt and align its Net Debt to Adjusted EBITDA with net-leased peers [5]. Group 2: Debt Management - GNL has successfully addressed the remaining $155 million of outstanding debt that was scheduled to mature in 2024, resulting in zero debt maturities through July 2025 [2]. - This proactive debt management is part of the company's broader strategy to lower leverage and create long-term growth [5]. Group 3: Company Overview - Global Net Lease, Inc. is a publicly traded real estate investment trust (REIT) listed on the NYSE, focusing on acquiring and managing a global portfolio of income-producing net lease assets across the United States and Western and Northern Europe [6].