Global Net Lease Announces $835 Million of Closed Dispositions in 2024

Core Insights - Global Net Lease, Inc. successfully executed its 2024 strategic disposition plan, closing transactions totaling $835 million, which exceeded the high end of its guidance of$ 650 million to $800 million [1][2] - The closed transactions achieved a cash cap rate of 7.1%, reaching the high end of the targeted cap rate range, thereby reinforcing the company's financial position and enhancing its balance sheet [2] - The CEO emphasized the importance of reducing outstanding debt and lowering the Net Debt to Adjusted EBITDA ratio through the sale of non-core assets with near-term debt or lease maturities [2] Financial Performance - The total amount from closed transactions was$ 835 million, which is significantly above the previously set guidance range [1][2] - The cash cap rate of 7.1% reflects a strong performance in asset disposition, indicating effective management of the company's portfolio [2] Company Overview - Global Net Lease, Inc. is a publicly traded real estate investment trust (REIT) focused on acquiring and managing income-producing net lease assets across the United States and parts of Europe [3]