Global Net Lease completes $535 million acquisition of Modiv Industrial
Reuters2026/08/13 10:01- Global Net Lease completed its acquisition of Modiv Industrial on Aug. 12, 2026, adding a primarily industrial portfolio valued at USD 535 million.
- Assets were bought at about a 7.6% cash cap rate, about an 8.7% GAAP cap rate.
- Transaction is expected to be immediately 4% accretive to AFFO per share on a leverage-neutral basis.
- Industrial exposure rises to about 50% of straight-line rent; pro forma weighted average remaining lease term extends to 6.6 years.
- Modiv shareholders received 1,975 new GNL shares per Modiv common share; Modiv preferred converted to USD 25 cash plus accrued dividends.
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