Property Sales and Dispositions - The company completed the sale of 59 multi-tenant retail properties for approximately $1.780 billion, with the remaining properties expected to close in two additional phases during Q2 2025[220]. - The company has entered into purchase and sale agreements and non-binding letters of intent totaling $188.8 million for property dispositions[268]. - During the three months ended March 31, 2025, the company sold 16 properties for an aggregate contract price of $24.1 million[271]. - Subsequent to March 31, 2025, the company disposed of 46 properties for an aggregate price of $96.3 million[273]. Financial Performance - For the three months ended March 31, 2025, the net loss attributable to common stockholders was $200.3 million, compared to $34.7 million for the same period in 2024[229]. - Total consolidated revenue from tenants for Q1 2025 was $132.4 million, down from $147.9 million in Q1 2024, primarily due to revenue losses from dispositions[230]. - Revenue from the Industrial & Distribution segment decreased to $58.0 million in Q1 2025 from $62.0 million in Q1 2024, attributed to a loss of approximately $3.9 million from property dispositions[231]. - Revenue from the Retail segment fell to $37.0 million in Q1 2025 from $42.6 million in Q1 2024, primarily due to a loss of approximately $4.8 million from dispositions[232]. - The Office segment saw an increase in revenue to $37.4 million in Q1 2025 from $35.1 million in Q1 2024, driven by higher revenue from properties owned in both periods[234]. Operating Expenses - Total consolidated property operating expenses for Q1 2025 were $13.9 million, down from $17.8 million in Q1 2024[235]. - Property operating expenses in the Industrial & Distribution segment increased to $5.3 million in Q1 2025 from $4.6 million in Q1 2024, while Retail segment expenses decreased to $3.9 million from $5.1 million[236][237]. - General and administrative expenses increased to $16.2 million for the three months ended March 31, 2025, up from $14.7 million in the same period of 2024[242]. - Equity-based compensation expense rose to $3.1 million for the three months ended March 31, 2025, compared to $2.0 million for the same period in 2024[243]. Impairment Charges - The company recorded an impairment charge of approximately $60.3 million for 69 properties during the three months ended March 31, 2025[239]. - The company incurred impairment charges of $60,315 thousand in Q1 2025, significantly higher than the $4,327 thousand recorded in Q1 2024[299]. Cash Flow and Financing Activities - The company reported a net cash provided by operating activities of $59.2 million for the three months ended March 31, 2025, compared to $92.2 million in 2024[261][262]. - Net cash provided by investing activities was $900.7 million for the three months ended March 31, 2025, primarily from net proceeds of $910.5 million from property dispositions[263]. - Net cash used in financing activities was $975.6 million for the three months ended March 31, 2025, resulting from net paydowns of borrowings and dividend payments[265]. - The company had outstanding borrowings under its Revolving Credit Facility of $547.4 million as of March 31, 2025, down from $1.4 billion as of December 31, 2024[282]. Debt and Leverage - As of March 31, 2025, total gross debt outstanding was $3.9 billion, with a weighted-average interest rate of 4.4%[276]. - The debt leverage ratio was 62.3% as of March 31, 2025[278]. - Interest expense decreased to $53.4 million for the three months ended March 31, 2025, down from $64.6 million in 2024, attributed to lower gross debt outstanding of $3.4 billion[249]. Dividend Information - The Board approved a reduction in the Common Stock dividend rate to an annual rate of $0.76 per share, effective from April 2025, down from $1.10 per share[305]. - Total dividends paid to common stockholders for Q1 2025 amounted to $63,942 thousand, with cash flows from operations contributing $59,167 thousand, representing 79.0% of the total[311]. - Cash generated from operations covered 79% of dividends paid during the three months ended March 31, 2025[268]. REIT Status and Taxation - The company elected to be taxed as a REIT effective for the taxable year ended December 31, 2013[313]. - To maintain REIT status, the company must distribute at least 90% of its REIT taxable income annually[313]. - The company is not subject to federal corporate income tax on distributed REIT taxable income if it continues to qualify as a REIT[313]. - The company may still be subject to certain state and local taxes on its income and properties[313]. - The company must comply with various organizational and operational requirements to maintain REIT status[313].

Financial Data and Key Metrics Changes - For Q1 2025, the company recorded revenue of $132.4 million and a net loss attributable to common stockholders of $200.3 million, which is expected to improve significantly upon closing the remainder of the multi-tenant portfolio sale [19][20] - The gross outstanding debt balance was $3.9 billion at the end of Q1 2025, down by $1.3 billion from the end of Q1 2024 [20] - The net debt to adjusted EBITDA ratio was 6.7 times at the end of Q1 2025, improved from 8.4 times at the end of Q1 2024 [21] Business Line Data and Key Metrics Changes - The company achieved a milestone with the signing of a definitive agreement for the sale of its multi-tenant portfolio, generating $1.1 billion in gross proceeds from the first phase, which included 59 unencumbered properties [8] - The portfolio's occupancy stood at 95% at the end of Q1 2025, with a weighted average remaining lease term of 6.3 years [12] - Following the departure of Contractor Steel, the company sold five vacant properties for a combined $60 million, which helped minimize vacancy downtime [13] Market Data and Key Metrics Changes - Geographically, 76% of straight-line rent is earned in North America and 24% in Europe, providing diversification across economic cycles [15] - The portfolio features a stable tenant base, with 60% of tenants receiving an investment grade or implied investment grade rating [15] Company Strategy and Development Direction - The company is focused on reducing leverage and enhancing financial flexibility, with a goal of achieving an investment grade credit rating [5][9] - A $300 million share repurchase program was approved, with 7.9 million shares repurchased at a weighted average price of $7.5, reflecting a strategic approach to capitalize on undervalued stock [11] - The company is strategically scaling back its exposure to the gas and convenience store sector, reallocating capital toward higher growth sectors [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating market volatility and highlighted the importance of a strong balance sheet for future growth [5][24] - The company reaffirmed its AFFO per share guidance range of $0.90 to $0.96 for 2025, indicating a positive outlook despite current market conditions [23] Other Important Information - The company has a closed plus disposition pipeline totaling $2.1 billion, with total asset sales expected to reach nearly $3 billion by the end of 2025 [9][10] - The weighted average interest rate on debt stood at 4.4%, with an interest coverage ratio of 2.5 times [20] Q&A Session Summary Question: Can you break down the remaining $300 million in the disposition pipeline by sector or geography? - Management indicated that the remaining pipeline consists of non-core dispositions identified since the end of 2024, continuing the deleveraging strategy [29][30] Question: How will market volatility impact asset sales and pricing? - Management believes there will still be opportunities to sell assets, leveraging relationships with local brokers to navigate the market [31][32] Question: Is the 12% AFFO yield the hurdle rate for future buybacks? - Management expressed satisfaction with the current buyback execution and indicated that they will continue to monitor AFFO accretion for future buybacks [33][34] Question: What is the capital allocation strategy regarding share buybacks versus debt repayment? - Management emphasized a focus on reducing leverage and opportunistic share buybacks, while also maintaining a disciplined approach to capital allocation [40][41] Question: Can you share insights on credit rating upgrades and potential savings? - Management noted that conversations with credit agencies are confidential but acknowledged the positive credit watch status and the long-term goal of accessing investment grade debt opportunities [46][47] Question: What types of dispositions are being targeted moving forward? - Management mentioned looking at retail opportunities and continuing to evaluate the portfolio for potential sales, particularly in the gas and convenience store sector [49][50] Question: Did Contractor Steel pay any rent in Q1? - Management confirmed that Contractor Steel did not pay any rent in Q1 [78] Question: How should investors think about the run rate for AFFO in the back half of the year? - Management explained that the income statement already accounts for discontinued operations related to the multi-tenant portfolio, and they expect a decrease in G&A expenses due to the sale [82] Question: Are there more vacant assets available for future proceeds? - Management indicated that after the completion of the multi-tenant sale, the portfolio would be nearly 98% occupied, suggesting limited future vacant asset sales [86]

Financial Data and Key Metrics Changes - For Q1 2025, the company recorded revenue of $132.4 million and a net loss attributable to common stockholders of $200.3 million, which is expected to improve significantly upon closing the remainder of the multi-tenant portfolio sale [19][20] - AFFO was reported at $66.2 million or $0.29 per share [19] - The gross outstanding debt balance decreased by $1.3 billion from Q1 2024 to $3.9 billion at the end of Q1 2025 [20] - The net debt to adjusted EBITDA ratio improved from 8.4 times in Q1 2024 to 6.7 times in Q1 2025 [20] Business Line Data and Key Metrics Changes - The company completed the first phase of the multi-tenant portfolio sale, generating $1.1 billion in gross proceeds from 59 unencumbered properties, with net proceeds used to pay down $850 million on the revolving credit facility [7][9] - The portfolio's occupancy rate was reported at 95%, with a pro forma occupancy of 98% after selling five vacant properties for $60 million [12][13] - The weighted average remaining lease term for the portfolio is 6.3 years, with an average annual rent increase of 1.5% [6][12] Market Data and Key Metrics Changes - Geographically, 76% of straight-line rent is earned in North America and 24% in Europe, providing diversification across economic cycles [14] - The tenant base is stable, with 60% of tenants receiving an investment grade or implied investment grade rating [14] Company Strategy and Development Direction - The company aims to achieve an investment grade credit rating as part of its strategy to reduce the cost of capital and enhance financial stability [8][9] - A $300 million share repurchase program was approved, with 7.9 million shares repurchased at a weighted average price of $7.5, reflecting a strategic approach to capitalize on undervalued stock [11] - The company is strategically reducing exposure to the gas and convenience store sector, reallocating capital towards higher growth sectors [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating market volatility and highlighted the importance of a strong balance sheet for future growth [5][10] - The company reaffirmed its AFFO per share guidance range of $0.90 to $0.96 for 2025, indicating a positive outlook despite current market uncertainties [22] Other Important Information - The company has a robust pipeline of non-core dispositions totaling $2.1 billion, contributing to deleveraging efforts [9] - The weighted average interest rate on debt is 4.4%, with an interest coverage ratio of 2.5 times [20] Q&A Session Summary Question: Can you break down the remaining $300 million in the disposition pipeline by sector or geography? - Management indicated that the remaining dispositions are part of ongoing efforts to reduce leverage and are identified as non-core assets [28] Question: How will market volatility impact your ability to sell or pricing? - Management believes there will continue to be opportunities to sell assets, leveraging relationships with local brokers [29][30] Question: Is the 12% AFFO yield the hurdle rate for future buybacks? - Management expressed satisfaction with the current buyback execution and indicated that they will continue to monitor AFFO accretion [31][32] Question: What is the strategy for capital allocation regarding share buybacks, debt repayment, and future asset purchases? - Management emphasized a focus on reducing leverage and opportunistic share buybacks, while being cautious about new asset purchases [37][40] Question: Can you share insights on credit rating upgrades and potential savings? - Management noted that conversations with credit agencies are confidential but acknowledged the positive credit watch status [44][45] Question: What types of dispositions are being targeted moving forward? - Management mentioned looking at retail and office opportunities for future dispositions, while maintaining a focus on long-term goals [47][48] Question: Did Contractors Steel pay any rent in Q1? - Management confirmed that Contractors Steel did not pay rent in the first quarter [71] Question: How should we think about the run rate for AFFO in the back half of the year? - Management indicated that the income statement already accounts for the multi-tenant portfolio sale and expects a decrease in G&A expenses due to the sale [75] Question: Are there more vacant assets available for future proceeds? - Management stated that after the completion of the multi-tenant sale, the portfolio will be nearly 98% occupied, indicating limited vacancy left [81]

Strategic Transaction & Portfolio Transformation - GNL successfully closed Phase I of the Multi-Tenant Portfolio Sale in Q1 2025, generating $1.1 billion from 59 unencumbered properties[39] - The Multi-Tenant Portfolio represented 28% of Total GNL SLR before the disposition[14] - The transaction transforms GNL into a pure-play net lease REIT, with a pro-forma asset diversification of 100% single-tenant properties[17] - The strategic sale is expected to reduce annual Capex from $46 million to $10 million[19] Leverage & Liquidity - The transaction is projected to reduce Net Debt / Adj EBITDA by 0.8x[23] - The transaction is projected to increase liquidity by over $1 billion[23] - GNL reduced net debt by $833 million in Q1'25, lowering Net Debt to Adjusted EBITDA to 6.7x[40] - Liquidity totaled $499 million in Q1'25[42] Portfolio Metrics & Performance - The pro-forma % Leased is expected to increase by 100 bps to 98%[19] - The pro-forma NOI Margin is expected to increase by 700 Bps to 89%[19] - 60% of SLR is derived from Investment Grade Tenants[57]

[Financial Performance & Position](index=6&type=section&id=Financial%20Performance%20%26%20Position) This section provides an overview of the company's financial results, balance sheet, and key performance indicators for the reporting period [Key Metrics](index=6&type=section&id=Key%20Metrics) The company reported a net loss and specific AFFO for Q1 2025, alongside key portfolio and leverage statistics - **Q1 2025 Key Financial and Portfolio Metrics** | Metric | Value | | :--- | :--- | | **Financial Results** | | | Revenue from tenants | $132.4 million | | Net loss attributable to common stockholders | $(200.3) million | | Basic and diluted net loss per share | $(0.87) | | AFFO attributable to common stockholders | $66.2 million | | Adjusted EBITDA | $138.4 million | | **Balance Sheet & Capitalization** | | | Gross asset value | $6.81 billion | | Net debt | $3.72 billion | | Net debt to annualized adjusted EBITDA | 6.7x | | Weighted-average interest rate cost | 4.2% | | **Real Estate Portfolio** | | | Number of properties | 1,045 | | Leased percentage | 95% | | Weighted-average remaining lease term | 6.3 years | - The quarterly dividend per share was **$0.275** for Q1 2025, with a new annualized rate of **$0.76** commencing in Q2 2025[25](index=25&type=chunk) [Consolidated Financial Statements](index=7&type=section&id=Consolidated%20Financial%20Statements) The company's Q1 2025 financial statements reflect a significant net loss and a decrease in total assets due to impairment and discontinued operations [Consolidated Statements of Operations](index=8&type=section&id=Consolidated%20Statements%20of%20Operations) The Q1 2025 statement of operations shows a net loss primarily driven by impairment charges and discontinued operations - **Q1 2025 Statement of Operations (in thousands)** | Account | Q1 2025 | | :--- | :--- | | Revenue from tenants | $132,415 | | Total expenses | $158,611 | | *Impairment charges* | *$60,315* | | *Goodwill impairment* | *$7,134* | | Operating loss | $(27,874) | | Loss from continuing operations | $(95,168) | | Loss from discontinued operations | $(94,211) | | **Net loss** | **$(189,379)** | | **Net loss attributable to common stockholders** | **$(200,315)** | | **Net loss per share** | **$(0.87)** | [Consolidated Balance Sheets](index=7&type=section&id=Consolidated%20Balance%20Sheets) The balance sheet as of March 31, 2025, indicates a reduction in total assets and liabilities, largely due to discontinued operations - **Balance Sheet Comparison (in thousands)** | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total real estate investments, net | $4,362,187 | $4,622,033 | | Assets related to discontinued operations | $670,483 | $1,816,131 | | **Total Assets** | **$5,789,334** | **$6,955,764** | | Revolving credit facility | $547,406 | $1,390,292 | | Liabilities related to discontinued operations | $495,515 | $551,818 | | **Total Liabilities** | **$3,873,782** | **$4,768,806** | | **Total Equity** | **$1,915,552** | **$2,186,958** | [Reconciliation of Non-GAAP Measures](index=9&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) This section reconciles GAAP net loss to key non-GAAP metrics, including Adjusted EBITDA, FFO, and AFFO - **Reconciliation to Adjusted EBITDA and Cash NOI (Q1 2025, in thousands)** | Metric | Amount | | :--- | :--- | | Net loss | $(189,379) | | Adjustments (Depreciation, Interest, Taxes, Impairments, etc.) | +$327,795 | | **Adjusted EBITDA** | **$138,416** | | Further Adjustments (G&A, etc.) | +$17,458 | | **NOI** | **$155,874** | | Non-cash rent adjustments | $(5,075) | | **Cash NOI** | **$150,799** | - **Reconciliation to FFO and AFFO (Q1 2025, in thousands)** | Metric | Amount | | :--- | :--- | | Net loss attributable to common stockholders | $(200,315) | | Adjustments (Depreciation, Impairments, etc.) | +$233,276 | | **FFO attributable to common stockholders** | **$32,961** | | Core Adjustments (Merger costs, etc.) | +$1,998 | | **Core FFO attributable to common stockholders** | **$34,967** | | Further Adjustments (Straight-line rent, non-cash items, etc.) | +$31,253 | | **AFFO attributable to common stockholders** | **$66,220** | [Debt & Lease Profile](index=11&type=section&id=Debt%20%26%20Lease%20Profile) This section details the company's debt structure, maturity schedule, and future minimum lease obligations [Debt Overview](index=11&type=section&id=Debt%20Overview) The company's debt profile as of March 31, 2025, includes total debt, weighted-average maturity, and interest rate characteristics - **Debt Maturity Schedule (as of March 31, 2025)** | Year of Maturity | Total Outstanding Balance (in thousands) | Percent | | :--- | :--- | :--- | | 2025 (remainder) | $458,982 | 13.5% | | 2026 | $653,020 | 19.2% | | 2027 | $663,191 | 19.5% | | 2028 | $819,505 | 24.1% | | 2029 | $663,313 | 19.5% | | Thereafter | $140,061 | 4.1% | | **Total Debt** | **$3,398,072** | **100%** | - As of March 31, 2025, **91.4%** of the company's total combined debt was fixed-rate or swapped to a fixed rate, with the remaining **8.6%** being floating rate[38](index=38&type=chunk) [Future Minimum Lease Rents](index=12&type=section&id=Future%20Minimum%20Lease%20Rents) The company's future minimum base rent payments total approximately $3.57 billion under existing lease agreements - **Future Minimum Base Rent Payments (in thousands)** | Period | Amount | | :--- | :--- | | 2025 (remainder) | $379,983 | | 2026 | $483,542 | | 2027 | $435,471 | | 2028 | $396,052 | | 2029 | $333,207 | | 2030 | $259,435 | | Thereafter | $1,280,677 | | **Total** | **$3,568,367** | [Portfolio Analysis](index=13&type=section&id=Portfolio%20Analysis) This section analyzes the company's real estate portfolio by diversification, top tenants, and lease expiration schedule [Portfolio Diversification](index=13&type=section&id=Portfolio%20Diversification) The company's portfolio exhibits diversification across property types, tenant industries, and geographic regions [Diversification by Property Type](index=13&type=section&id=Diversification%20by%20Property%20Type) The portfolio is primarily concentrated in Industrial & Distribution properties, followed by Retail and Office segments - **Portfolio by Property Type (Based on Annualized SL Rent)** | Property Type/Segment | SL Rent Percent | Sq. ft. Percent | | :--- | :--- | :--- | | Industrial & Distribution | 40% | 62% | | Retail | 25% | 14% | | Office | 22% | 13% | | Multi-Tenant Retail Portfolio | 13% | 11% | | **Total** | **100%** | **100%** | [Diversification by Tenant Industry](index=14&type=section&id=Diversification%20by%20Tenant%20Industry) The tenant base is diversified across various industries, with no single industry dominating the annualized straight-line rent - **Top 5 Tenant Industries (Based on Annualized SL Rent)** | Industry Type | SL Rent Percent | | :--- | :--- | | Financial Services | 8% | | Auto Manufacturing | 8% | | Gas/Convenience | 5% | | Healthcare | 5% | | Freight | 5% | [Diversification by Geography](index=16&type=section&id=Diversification%20by%20Geography) The portfolio's geographic exposure is concentrated in the United States, with significant international presence in the United Kingdom - **Geographic Diversification (Based on Annualized SL Rent)** | Region | SL Rent Percent | | :--- | :--- | | United States | 75.9% | | United Kingdom | 12.1% | | Netherlands | 3.2% | | Finland | 2.5% | | Germany | 1.9% | | Other | 4.4% | | **Total** | **100%** | [Top Twenty Tenants](index=15&type=section&id=Top%20Twenty%20Tenants) The top 20 tenants represent a moderate concentration of the portfolio's annualized straight-line rent - **Top 5 Tenants by Annualized SL Rent** | Tenant / Lease Guarantor | SL Rent Percent | | :--- | :--- | | FedEx | 4.3% | | Imperial Reliance, LLC | 4.2% | | McLaren | 3.7% | | Whirlpool | 2.7% | | Government Services Administration (GSA) | 2.2% | - The top 20 tenants collectively account for **38.6%** of the total portfolio's annualized straight-line rent[47](index=47&type=chunk) [Lease Expirations](index=17&type=section&id=Lease%20Expirations) The company maintains a staggered lease expiration schedule, with a weighted-average remaining lease term of 6.3 years - **Lease Expiration Schedule by Annualized SL Rent** | Year of Expiration | Annualized SL Rent Percent | | :--- | :--- | | 2025 (Remainder) | 5.6% | | 2026 | 8.1% | | 2027 | 8.1% | | 2028 | 11.0% | | 2029 | 13.3% | | 2030 | 10.7% | | Thereafter (>2030) | 43.2% | [Non-GAAP Financial Measures Definitions](index=3&type=section&id=Non-GAAP%20Financial%20Measures%20Definitions) This section defines the non-GAAP financial measures used by the company to assess its operational performance [Overview of Non-GAAP Measures](index=3&type=section&id=Overview%20of%20Non-GAAP%20Measures) The company utilizes various non-GAAP measures to provide a clearer view of operating performance, complementing GAAP results - The primary non-GAAP measures used are **Funds from Operations (FFO)**, **Core FFO**, **Adjusted Funds from Operations (AFFO)**, **Adjusted EBITDA**, **Net Operating Income (NOI)**, and **Cash NOI**[4](index=4&type=chunk) - These non-GAAP measures should not be considered more relevant than GAAP methodology, and comparability with other REITs may be limited due to differing calculations[5](index=5&type=chunk)[6](index=6&type=chunk) [FFO, Core FFO, and AFFO](index=3&type=section&id=FFO%2C%20Core%20FFO%2C%20and%20AFFO) This section details the calculation and purpose of FFO, Core FFO, and AFFO as key performance indicators - **FFO** is defined according to NAREIT standards, excluding real estate-related depreciation, amortization, and gains/losses from property sales[10](index=10&type=chunk) - **Core FFO** adjusts FFO by excluding non-core items such as merger, transaction, and debt extinguishment costs[14](index=14&type=chunk) - **AFFO** further refines Core FFO by excluding non-cash items like straight-line rent and amortization of lease intangibles to reflect recurring operational performance[16](index=16&type=chunk)[17](index=17&type=chunk) [Adjusted EBITDA, NOI, and Cash NOI](index=5&type=section&id=Adjusted%20EBITDA%2C%20NOI%2C%20and%20Cash%20NOI) This section defines Adjusted EBITDA, NOI, and Cash NOI, highlighting their roles in assessing debt service capacity and property-level performance - **Adjusted EBITDA** is used as a measure of the company's ability to incur and service debt[18](index=18&type=chunk) - **NOI** is a property-level performance measure reflecting income and expense items incurred at the property, excluding corporate-level costs[20](index=20&type=chunk) - **Cash NOI** adjusts NOI by excluding non-cash revenues such as straight-line rent adjustments and amortization of lease intangibles[21](index=21&type=chunk)

Core Insights - Global Net Lease, Inc. (GNL) successfully closed the first phase of a multi-tenant portfolio sale, generating $1.1 billion in gross proceeds and is on track to complete the remaining phases by the end of Q2 2025 [1][5] - The company reduced its net debt by $833 million in Q1 2025, improving its net debt to adjusted EBITDA ratio to 6.7x [1][9] - GNL repurchased 7.9 million shares at an average price of $7.50, totaling $59 million as of May 2, 2025 [1][18] - The company reaffirmed its 2025 guidance for adjusted funds from operations (AFFO) per share in the range of $0.90 to $0.96 and net debt to adjusted EBITDA between 6.5x and 7.1x [6] Financial Performance - Revenue for Q1 2025 was $132.4 million, down from $147.9 million in Q1 2024, primarily due to asset dispositions [5][31] - The net loss attributable to common stockholders was $200.3 million in Q1 2025, compared to a net loss of $34.7 million in Q1 2024, largely due to the timing and purchase price allocation related to the multi-tenant portfolio sale [5][31] - Core Funds from Operations (Core FFO) for Q1 2025 was $35.0 million, down from $56.6 million in Q1 2024 [5][31] - Adjusted Funds from Operations (AFFO) was $66.2 million, or $0.29 per share, compared to $75.0 million, or $0.33 per share in Q1 2024 [5][31] Portfolio and Asset Management - As of March 31, 2025, GNL's portfolio consisted of 1,045 net lease properties across ten countries, totaling 51.3 million rentable square feet [8] - The company has a closed plus disposition pipeline totaling $2.1 billion at a cash cap rate of 8.3% and a weighted average lease term of 5.2 years [5][13] - 60% of annualized straight-line rent comes from investment-grade or implied investment-grade tenants, indicating a strong tenant quality [10][5] Capital Structure and Liquidity - GNL had liquidity of $499.1 million and $1.4 billion of capacity under its revolving credit facility as of March 31, 2025 [9] - The company successfully reduced its net debt by $1.5 billion since Q1 2024, including the recent $833.2 million reduction [5][9] - The weighted average interest rate on total combined debt was 4.2%, with 91% of the debt being fixed rate [10][9]

Core Viewpoint - Global Net Lease, Inc. (GNL) is set to release its financial results for the first quarter of 2025 on May 7, 2025, after market close [1] Group 1: Financial Results Announcement - The financial results for the first quarter ended March 31, 2025, will be announced on May 7, 2025 [1] - A conference call will be held on May 8, 2025, at 11:00 a.m. ET to discuss the results and business performance [2] Group 2: Conference Call Details - The conference call will be conducted by GNL's management team, followed by a question-and-answer session [2] - Dial-in instructions for the live call and replay are provided, with a toll-free domestic number of 1-877-407-0792 and an international number of 1-201-689-8263 [3][4] 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 income-producing net lease assets globally [5]

Core Viewpoint - Global Net Lease, Inc. has received a notice from the Government Services Administration revoking its previous termination notice, allowing the existing lease agreement to remain in effect [1]. Company Overview - Global Net Lease, Inc. is a publicly traded real estate investment trust listed on the NYSE, focusing on acquiring and managing a global portfolio of income-producing net lease assets across the United States, United Kingdom, and Western and Northern Europe [3]. Relationship with GSA - The company expressed gratitude towards the GSA for being a valued partner and looks forward to maintaining a strong relationship in the future [2].

Company Overview - Global Net Lease, Inc. is a publicly traded real estate investment trust 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 [3] Dividend Announcement - The Company declared a dividend of $0.190 per share of common stock, payable on April 16, 2025, to common stockholders of record at the close of business on April 11, 2025 [1] - Dividends are authorized by the Company's board of directors and are paid on a quarterly basis in arrears during the first month following the end of each fiscal quarter [2]

NEW YORK, April 01, 2025 (GLOBE NEWSWIRE) -- Global Net Lease, Inc. ("GNL" or the "Company") (NYSE: GNL / GNL PRA / GNL PRB / GNL PRD / GNL PRE) announced today that it declared a dividend of $0.190 per share of common stock payable on April 16, 2025, to common stockholders of record at the close of business on April 11, 2025. Dividends authorized by the Company's board of directors and declared by the Company are paid on a quarterly basis in arrears during the first month following the end of each fiscal q ...