Global Net Lease Announces $76 Million Guernsey, Channel Islands Acquisition, $456 Million Of Closed And Pipeline Acquisitions
Amount Raised
$456 Million
Description
Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") announced today that on September 2, 2021 the Company closed on the acquisition of Trafalgar Court, a premier office building leased to two tenants in Guernsey, Channel Islands, for a contract purchase price of $76.5 million1 excluding closing costs. Year to date, the Company has closed on six properties for a contract purchase price of $326.3 million1, including the previously announced acquisition of the McLaren Group headquarters in Woking, Surrey, England. The acquisitions were completed at a going-in capitalization rate2 of 9.13%, a weighted-average capitalization rate of 10.23%, and had a weighted average remaining lease term of 18.0 years at closing.