Global Net Lease completes $535 million Modiv deal

• Global Net Lease (NYSE:GNL) completed its acquisition of Modiv Industrial, adding an industrial net-lease portfolio valued at approximately $535 million.
• The transaction increases GNL’s industrial exposure to about 50% of total straight-line rent and is expected to be 4% accretive to AFFO per share.
• Modiv shareholders received 1.975 GNL shares for each common share, while Modiv preferred shareholders received $25.00 in cash plus accrued dividends.

Global Net Lease (NYSE:GNL) completed its acquisition of Modiv Industrial on August 12, 2026, adding an industrial net-lease portfolio valued at approximately $535 million and expanding its industrial property exposure.

The acquired portfolio was valued at an estimated 7.6% cash capitalization rate and 8.7% GAAP capitalization rate, while the transaction increased GNL’s industrial properties to approximately 50% of total straight-line rent.

The acquired properties include tenants with about 45% of annual base rent classified as investment-grade or implied investment-grade, a 15-year weighted average remaining lease term, and average annual rent escalations of 2.4%.

Following the transaction, GNL’s weighted average remaining lease term increased from 5.7 years to 6.6 years, and the company expects the acquisition to be immediately 4% accretive to AFFO per share on a leverage-neutral basis.

Global Net Lease owns and manages commercial real estate properties, including office, industrial, and other net-lease assets, with rental income generated through long-term tenant agreements.

The acquisition was approved by Modiv stockholders and did not require a GNL stockholder vote, with Modiv common shares converted into GNL shares and Modiv securities removed from the NYSE.