Global Net Lease announced continued progress on its strategic disposition plan. Through Dec. 9, 2024, GNL has closed $620 million of dispositions, and, together with its pipeline of potential asset sales, dispositions currently total $1.1 billion1.

“We are pleased with the progress of our disposition plan as we enter the final month of the year,” said Michael Weil, CEO of GNL. “With $620 million in closed dispositions and a substantial amount anticipated to close by year-end, we expect to exceed the upper range of our disposition guidance while approaching the most favorable end of our cash cap rate range of 7.0%.

"Looking ahead, we currently have over $200 million in asset sales slated to close during the first half of 2025. We believe this achievement underscores the quality of our broader portfolio, with non-core assets achieving favorable cap rates, including a 7.8% cash cap rate on occupied office assets. Our strategic focus on maximizing asset value through dispositions has enabled us to make significant strides in reducing our outstanding debt balance. We remain committed to delivering strong results and positioning GNL for sustained growth through the end of the year and into 2025," he added.

GNL has furnished slides detailing the progress of its 2024 strategic disposition plan as an exhibit to its Current Report on Form 8-K submitted with the Securities and Exchange Commission on the date hereof.