Global Net Lease, Inc. announced on October 9, 2024, that it had completed nearly $569 million in dispositions through the third quarter of 2024. This progress is part of the company's strategic disposition plan, which aims to optimize its portfolio and strengthen its financial position.
Including its pipeline, total dispositions reached $870 million as of September 30, 2024. The dispositions included approximately $111 million of vacant assets, which eliminates their negative impact on net operating income.
The net sale proceeds from these dispositions are being used to reduce outstanding debt, enhancing GNL’s financial flexibility and positioning the company for long-term growth. The occupied assets were sold at a favorable cash cap rate of 7.2%.
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