Global Net Lease Highlights Strategic Accomplishments in 2025

Rhea-AI Summary

Global Net Lease (NYSE: GNL) reported completion of its 2025 strategic objectives, repositioning as a pure-play single-tenant net lease REIT after completing $3.3 billion of dispositions.

Key outcomes include disposal proceeds of $987 million of occupied single-tenant non-core assets (7.6% cash cap rate) and $2.0 billion of occupied multi-tenant assets (8.2% cash cap rate), the sale of the McLaren Campus for £250 million with ~£80 million gain, reduction of total debt by over $2.7 billion, repurchases of 15.4 million shares for $120 million at a weighted average price of $7.77 (~12% AFFO yield), credit rating upgrades to investment-grade by Fitch and an upgrade from S&P, completion of > 2.4 million sq ft of leases with renewal spreads > 11%, and an opportunistic refinancing of its $1.8 billion Revolving Credit Facility that lowered cost of borrowing by ~70 bps.

Positive

• $3.3 billion of dispositions completed repositioning portfolio
• Total debt reduced by over $2.7 billion
• Share repurchases of 15.4 million shares for $120 million at $7.77 (≈12% AFFO yield)
• Credit upgrades: Fitch to BBB- and S&P issuer-level upgraded to BBB-
• Completed > 2.4 million sq ft of leases with renewal spreads > 11%
• Refinanced $1.8 billion revolver, lowering cost by ~70 bps

Negative

• None.

Key Figures

Non-core asset sales $3.3 billion Strategic disposition program since 2024

Debt reduction over $2.7 billion Total debt reduced using disposition proceeds

Shares repurchased 15.4 million shares Repurchased through Dec 31, 2025 under program

Repurchase price $7.77 per share Weighted average price of repurchased shares

Repurchase spend $120 million Total capital deployed to share repurchases

Leasing volume over 2.4 million square feet New leases and renewals completed in 2025

Renewal spreads exceeding 11% Average rent uplift on 2025 lease renewals

Revolving Credit Facility $1.8 billion Refinanced revolver in August 2025

Market Reality Check

$8.95 Last Close

Volume Volume 1,676,357 vs 20-day average 1,980,609, indicating slightly lighter-than-normal trading. normal

Technical Price 8.89 is trading above 200-day MA of 7.77, reflecting an improved trend pre-announcement.

Peers on Argus

GNL gained 1.14% while peers were mixed: AAT -1.18%, AHH -1.04%, SAFE 0%, GOOD +0.18%, OLP +0.34%. Moves do not show a unified REIT rotation, pointing to company-specific drivers.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Jan 02	Common dividend	Neutral	+2.6%	Declared quarterly common dividend of $0.190 per share for Q1 2026.
Dec 23	Asset sale closed	Positive	-1.1%	Closed McLaren Campus sale, completing $3.3 billion disposition program.
Dec 18	Preferred dividends	Neutral	-1.4%	Declared quarterly dividends on four preferred series with Jan 15, 2026 pay date.
Dec 08	Asset sale agreement	Positive	-0.4%	Agreed to sell McLaren Campus with meaningful value creation since 2021 acquisition.
Nov 11	ATM clarification	Neutral	+1.0%	Reiterated ATM registration step was customary extension of expiring shelf.

Pattern Detected

Strategic asset sales and balance sheet actions have often seen price divergences, with positive disposition news followed by short-term declines, while more routine dividend and administrative updates showed modest positive or neutral reactions.

Recent Company History

Over the past few months, GNL emphasized portfolio rebalancing and capital actions. The company agreed to sell and then closed the McLaren Campus, contributing to roughly $3.3 billion in non-core asset sales aimed at debt reduction and liquidity. It maintained common and preferred dividends and clarified an ATM-related filing as customary. Today’s recap of 2025 achievements consolidates these steps into a narrative of leverage reduction, share repurchases, and operational leasing gains.

Market Pulse Summary

This announcement consolidates GNL’s 2025 transformation, highlighting $3.3 billion of non-core sales, debt reduction of over $2.7 billion, share repurchases, and refinancing of a $1.8 billion revolver. It underscores stronger credit ratings and leasing momentum with over 2.4 million square feet and renewal spreads above 11%. Investors may track future disposition activity, buyback pace, and leasing performance to see how this balance-sheet reset translates into earnings growth.

Key Terms

cash cap rate financial

"occupied single-tenant non-core assets at a 7.6% cash cap rate"

Cash cap rate is the annual cash income an asset produces divided by its purchase price or current market value, expressed as a percentage. It shows the immediate cash yield an investor gets (excluding non‑cash accounting items like depreciation), so it helps compare how much cash return one investment gives versus another — similar to comparing the rent you’d collect against the price you paid.

revolving credit facility financial

"borrowing capacity under its Revolving Credit Facility."

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

investment-grade financial

"attaining investment-grade status when Fitch Ratings upgraded its corporate"

Investment-grade describes bonds or other debt judged by credit agencies to have relatively low risk of failing to make promised interest and principal payments; think of it as a lender's report card showing financial stability. It matters to investors because these securities usually pay lower yields but reduce the chance of loss, affect portfolio risk and credit exposure, and influence how cheaply an issuer can borrow—similar to choosing a reliable car with lower repair risk over a cheaper, uncertain one.

basis points financial

"lowered its cost of borrowing ... by approximately 70 basis points."

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

AI-generated analysis. Not financial advice.

NEW YORK, Jan. 08, 2026 (GLOBE NEWSWIRE) -- Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) today announced the successful completion of its key strategic objectives in 2025, a year of significant transformation that strengthened the Company’s balance sheet, enhanced operational performance and strategically aligned its portfolio to support long-term growth and deliver sustained shareholder value.

“2025 was a pivotal year for GNL,” said Michael Weil, CEO. “We took deliberate steps to materially improve the Company’s financial and operational profile, creating a durable platform for long-term growth. Looking ahead to 2026, we are focused on driving earnings growth through share repurchases, selective acquisitions, or a combination of both, while opportunistically divesting assets when value is compelling. We plan to continue to maintain a disciplined approach to capital allocation, a prudent balance sheet and a continued focus on operational excellence.”

2025 Strategic Accomplishments:

• Strategic Disposition Program Reached $3.3 Billion: Since launching its strategic disposition program in 2024, GNL has completed approximately $3.3 billion in sales, including $987 million of occupied single-tenant non-core assets at a 7.6% cash cap rate and $2.0 billion of occupied multi-tenant assets at an 8.2% cash cap rate, repositioning the Company as a pure-play single-tenant net lease REIT. Culminating the disposition program was the sale of the McLaren Campus for £250 million at a 7.4% cash cap rate, generating approximately £80 million in value above its original acquisition price. With the disposition program now effectively complete, GNL has entered its next strategic phase, focused on prudently driving earnings growth while continuing to opportunistically divest assets when value is compelling.
• Significant Leverage Reduction: GNL has strategically applied net proceeds from its non-core asset sales to reduce outstanding debt, strengthening its balance sheet and increasing liquidity and borrowing capacity under its Revolving Credit Facility. The strategic disposition program has enabled the Company to reduce total debt by over $2.7 billion.
• Accretive Share Repurchase Program: Since initiating its Share Repurchase Program in February 2025, GNL has continued to utilize incremental net proceeds from non-core asset sales to accretively repurchase shares. Through December 31, 2025, GNL has repurchased 15.4 million shares at a weighted average price of $7.77 per share, totaling $120 million, capitalizing on the opportunity to buy back shares at an AFFO yield of approximately 12%. We believe repurchasing shares at this yield represents a more compelling use of capital relative to alternatives, such as acquisitions, which have been less attractive to date.
• Credit Rating Upgrades: GNL achieved a core objective by attaining investment-grade status when Fitch Ratings upgraded its corporate credit rating to BBB- from BB+, while S&P Global raised GNL’s corporate rating to BB+ from BB and upgraded its issuer-level rating on unsecured notes to investment-grade BBB- from BB+. These rating actions reflect the decisive steps taken to strengthen the Company’s balance sheet and credit profile through disciplined capital management and consistent execution of strategic initiatives.
• Continued Leasing Momentum: GNL continued to drive leasing momentum in 2025 through active asset management, completing over 2.4 million square feet of new leases and renewals and achieving attractive renewal spreads exceeding 11% above expiring rents. By engaging tenants early and working closely throughout the lease process, the Company has been able to maximize occupancy, retention, and rental growth across its portfolio.
• $1.8 Billion Revolving Credit Facility Refinancing: GNL opportunistically refinanced its $1.8 billion Revolving Credit Facility in August 2025, significantly improving pricing, increasing liquidity and extending its weighted-average debt maturity. Since the third quarter of 2024, the Company has lowered its cost of borrowing on the Revolving Credit Facility by approximately 70 basis points.

About Global Net Lease, Inc.
Global Net Lease, Inc. (NYSE: GNL) is a publicly traded internally managed real estate investment trust that focuses on acquiring and managing a global portfolio of income producing net lease assets across the U.S., and Western and Northern Europe. Additional information about GNL can be found on its website at www.globalnetlease.com. 

Important Notice
The statements in this press release that are not historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. The words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “expects,” “estimates,” “projects,” “potential,” “predicts,” “plans,” “intends,” “would,” “could,” “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the risks that any potential future acquisition or disposition by the Company, is subject to market conditions, capital availability and timing considerations and may not be identified or completed on favorable terms, or at all. Some of the risks and uncertainties, although not all risks and uncertainties, that could cause the Company’s actual results to differ materially from those presented in the Company’s forward-looking statements are set forth in the “Risk Factors” and “Quantitative and Qualitative Disclosures about Market Risk” sections in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and all of its other filings with the U.S. Securities and Exchange Commission, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent reports. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

Contacts:
Investor Relations
Email: investorrelations@globalnetlease.com

FAQ

How much in assets did GNL (NYSE: GNL) sell under its 2024–2025 disposition program?

GNL completed approximately $3.3 billion of sales under its strategic disposition program.

What debt reduction did GNL report for 2025 and how was it achieved?

GNL reduced total debt by over $2.7 billion by applying proceeds from non-core asset sales to pay down outstanding debt.

How many shares did GNL repurchase in 2025 and at what cost?

Through December 31, 2025 GNL repurchased 15.4 million shares for a total of $120 million at a weighted average price of $7.77.

What credit rating changes did GNL receive in 2025?

Fitch upgraded GNL to BBB-, and S&P raised the corporate rating to BB+ and upgraded issuer-level unsecured notes to BBB-.

What leasing results did GNL report for 2025 and how did they affect rents?

GNL completed over 2.4 million sq ft of new leases and renewals with renewal spreads exceeding 11% above expiring rents.