Global Net Lease Completes Acquisition of Modiv Industrial
Global Net Lease completed the acquisition of Modiv Industrial for $535 million, a transaction expected to be immediately 4% accretive to AFFO per share on a leverage-neutral basis. The acquisition significantly shifts GNL's portfolio strategy, increasing industrial exposure to approximately 50% of total straight-line rent and extending the weighted average lease term to 6.6 years.
Key figures
- Deal Value Usd
- 535000000
- Cash cap rate
- 7.6%
- Gaap cap rate
- 8.7%
- Affo accretion
- 4%
- Modiv walt years
- 15
- Gnl prior walt years
- 5.7
- Exchange ratio common
- 1.975
- Annual rent escalation
- 2.4%
- Gnl pro forma walt years
- 6.6
- Preferred conversion cash
- 25
- Modiv investment grade tenant pct
- 45
AI analysis
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