**Global Net Lease Completes Second Phase of Multi-Tenant Portfolio Sale**
Global Net Lease, Inc. (GNL) has successfully completed the second phase of the sale of its multi-tenant property portfolio to RCG Ventures, LLC. This phase included 28 encumbered properties and generated approximately $400 million in gross proceeds. The first phase of the transaction, which closed in March, brought in $1.1 billion.
Michael Weil, CEO of GNL, remarked on the milestone:
“The successful closing of the second phase of our multi-tenant portfolio sale is another important step in GNL’s transformation. The overall initiative reflects our commitment to executing our strategic plan, specifically lowering leverage and completing the transformation to a dedicated single-tenant portfolio, reinforcing our balance sheet and maintaining strong liquidity.”
GNL is on schedule to complete the third and final phase of the portfolio sale — involving 12 encumbered properties — by the end of the second quarter. Net proceeds from the second and third phases of the sale are expected to be used primarily for leverage reduction.
This strategic shift underscores GNL’s focus on optimizing its asset base and enhancing financial stability as it moves toward a streamlined, single-tenant portfolio model.
