Core Insights - Global Net Lease, Inc. (GNL) successfully completed its strategic objectives in 2025, enhancing its balance sheet and operational performance while aligning its portfolio for long-term growth and shareholder value [1][2]. Strategic Accomplishments - **Strategic Disposition Program**: GNL completed approximately $3.3 billion in sales since launching its program in 2024, including $987 million of occupied single-tenant non-core assets at a 7.6% cash cap rate and $2.0 billion of occupied multi-tenant assets at an 8.2% cash cap rate. The program culminated in the sale of the McLaren Campus for £250 million at a 7.4% cash cap rate, generating about £80 million in value above its original acquisition price [5]. - **Leverage Reduction**: The company reduced total debt by over $2.7 billion by applying net proceeds from non-core asset sales, strengthening its balance sheet and increasing liquidity [5]. - **Share Repurchase Program**: GNL repurchased 15.4 million shares at a weighted average price of $7.77 per share, totaling $120 million, achieving an AFFO yield of approximately 12% [5]. - **Credit Rating Upgrades**: GNL attained investment-grade status with Fitch Ratings upgrading its corporate credit rating to BBB- from BB+, and S&P Global raising its corporate rating to BB+ from BB [5]. - **Leasing Momentum**: The company completed over 2.4 million square feet of new leases and renewals in 2025, achieving renewal spreads exceeding 11% above expiring rents [5]. - **Revolving Credit Facility Refinancing**: GNL refinanced its $1.8 billion Revolving Credit Facility in August 2025, improving pricing and increasing liquidity while lowering its cost of borrowing by approximately 70 basis points since Q3 2024 [5].