Global Net Lease has announced a $1.8 billion deal to sell its portfolio of 100 non-core properties to a subsidiary of RCG Ventures Holdings. The portfolio, which is primarily made up of multi-tenant properties, will be sold at an 8.4% cash cap rate. The sale is a key part of GNL's ongoing strategy to focus on its core business of single-tenant net lease properties.

In addition to the portfolio sale, GNL is also looking to reduce its debt. The company has set a goal of completing $3 billion in total property dispositions by the end of 2025. GNL plans to use the proceeds from the sale to pay down its revolving credit facility. The company's board of directors has also authorized a $300 million share repurchase program.

The 100 properties being sold are considered non-core to GNL's overall portfolio. By divesting these assets, GNL hopes to streamline its operations and focus on its single-tenant net lease properties. The company believes that this will help it to reduce its general and administrative expenses and capital expenditures. GNL is also aiming to improve its key portfolio metrics and increase its overall occupancy rate.