RCG Ventures: Global Net Lease Successfully Closes First Phase of Multi-Tenant Portfolio Sale

NEW YORK, March 26, 2025 (GLOBE NEWSWIRE) -- Global Net Lease, Inc. (NYSE:GNL) ("GNL" or the "Company") announced the successful closing of the first phase of the sale of its multi-tenant portfolio to RCG Ventures, LLC on March 25, 2025. This initial phase includes 59 unencumbered properties, totaling approximately $1.1 billion in gross proceeds upon closing.GNL expects to remain on schedule to complete the sale of the 41 encumbered properties in two additional phases by the end of the second quarter of 2025. GNL intends to use the net proceeds from the multi-tenant portfolio sale to significantly reduce leverage and pay down the outstanding balance on GNL's Revolving Credit Facility."We are pleased with the progress of the multi-tenant portfolio sale, as demonstrated by the closing of the unencumbered portfolio," said Michael Weil, CEO of GNL. "Completing this first phase reflects our disciplined execution of the plan we outlined on our Q4 2024 earnings call. This important milestone of our strategic transaction accelerates our deleveraging plan and further strengthens our balance sheet and liquidity. ...Full story available on Benzinga.com