**Global Net Lease Completes $1.1B First Phase of Portfolio Sale**
Global Net Lease, Inc. has successfully closed the first phase of its multi-tenant portfolio sale to RCG Ventures, LLC. This initial phase includes 59 unencumbered properties, generating approximately $1.1 billion in gross proceeds. The transaction involved a new loan facility with Truist and Key Bank, alongside equity investments from institutional investors such as Ares Management Alternative Credit funds, Koch Real Estate Investments, and Goldman Sachs Alternatives.
“As longtime, dedicated multi-tenant real estate investors, we have deep conviction in retail as an asset class,” said Michael Klump, founder and chairman of RCG Ventures and its parent company, Argonne Capital. “This transformative transaction more than doubles our footprint of shopping centers across the U.S., and we look forward to leveraging our vertically integrated team to attract and retain high-quality tenants and deliver value for our partners, investors, and the communities in which we operate.”
Global Net Lease remains on track to complete the sale of the remaining 41 encumbered properties in two additional phases by the end of the second quarter.
