NYSE:GNLREITs
Global Net Lease Modiv Deal Shifts Portfolio Toward Industrial Assets
Global Net Lease (NYSE:GNL) announced a $535 million all stock deal to acquire Modiv Industrial.
The definitive merger agreement is designed to shift GNL’s portfolio further toward industrial real estate.
The transaction is described by the company as earnings accretive and leverage neutral at closing.
For investors following NYSE:GNL, this move comes with the stock around $9.12 and a mixed return profile, with a 1 year return of 27.3% and a 5 year return of 10.3%. Management is signaling a...