One year after its merger with Necessity Retail REIT, Global Net Lease (GNL) has successfully executed its disposition strategy, surpassing initial targets and strengthening its position as one of the largest net lease REITs in the industry. The company's ability to close the buyer-seller expectation gap has been crucial to its success, resulting in full-price asset sales and significant debt reduction.
Disposition Strategy Exceeds Expectations
In an interview with GlobeSt.com, GNL's CEO Michael Weil reported that after the REIT achieved its initial disposition target of $400-$600 million, it prompted an increase in the goal to $650-$800 million for the calendar year 2024. "At the end of the second quarter, we had just about achieved that already, so we increased our targets," Weil said.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
