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- Global Net Lease (NYSE:GNL) has recently completed the sale of a portfolio consisting of nine
cold storage properties leased to Americold Realty Trust (COLD) for a substantial $170M. The
transaction was executed at a commendable 7.88% cash cap rate, with 3.3 years of weighted average
remaining lease term. - By divesting this portfolio, the company showcases a strategic move in line with its FY guidance,
aiming to achieve a disposition cash cap rate within the 7% to 8% range. - The generated proceeds from this sale are earmarked to reduce debt levels and fortify the company’s
financial position by curbing leverage. - This particular divestment, originally acquired by GNL for $153.4M, forms a segment of the previously
announced $567M of closed and pipeline dispositions. These strategic moves are orchestrated at an
attractive cash cap rate of 7.2%, emphasizing the company’s commitment to enhancing shareholder value.