Global Net Lease(US:GNL)2022-02-24 17:55Portfolio Highlights - GNL's portfolio boasts a high occupancy rate of 990%[3], with 309 properties and 393 million square feet[6] - The portfolio is diversified with 138 tenants across 51 industries[3,6] - 63% of portfolio annualized straight-line rent is derived from Investment Grade rated tenants[3] - 937% of leases have contractual rent increases[6] Leasing Activity & Acquisitions - In 2021, GNL completed lease extensions and expansions totaling 15 million square feet, adding approximately $96 million of net straight-line rent[3,10] - GNL closed on ten acquisitions in 2021 for $4972 million at a weighted average cap rate of 89% and a weighted average remaining lease term of 172 years[4] Financial Performance - GNL collected 100% of original cash rent for the fifth consecutive quarter[31] - Q4 2021 Adjusted Funds From Operations (AFFO) was $460 million, or $044 per share[31,33] - GNL had ample liquidity of $140 million as of December 31, 2021[31] Strategic Focus - GNL focuses on acquiring single-tenant industrial and distribution properties in North America and Continental Europe[17] - The company targets markets with quality sovereign debt ratings[15] - GNL aims to limit the impact of adverse currency and interest rate movements through a comprehensive hedging program[46]