Global Net Lease Announces £61 Million U.k. Acquisition, 5-year 320,000 Square Foot Lease Renewal In Germany

Global Net Lease, Inc. (NYSE: GNL/ GNL PRA / GNL PRB) announced today that it closed on the acquisition of eight properties in the United Kingdom for a total purchase price of £61 million ($75 million in US dollars based on the exchange rate at closing) at a cap rate of 10.6%1. The properties are all leased to a wholly owned subsidiary of Walgreens Boots Alliance Inc. Walgreens has investment grade credit ratings of “BBB” and “Baa2” from S&P and Moody’s, respectively. The properties total over 325,000 square feet and have 11.5 years of lease term remaining.

Additionally, GNL announced that on December 30, 2022, it was notified by Rheinmetall, one of the Company’s tenants in Neuss, Germany, that a five-year lease extension was exercised, extending the tenant’s lease on the existing terms until the end of 2028 with no tenant improvement expenses incurred by the Company. Rheinmetall is rated “Baa2” by Moody’s. Including this lease, the Company completed 592,000 square feet of new leases, lease renewals, and tenant expansions in the fourth quarter of 2022.

“GNL is off to a great start in 2023, continuing to strengthen our portfolio through buying properties long-term leased to investment grade tenants and extending leases with existing high-quality tenants,” said James Nelson, CEO of GNL. “We acquired the portfolio of Boots properties at a very favorable cap rate and with over 11 years of remaining lease term. The lease extension with Rheinmetall was accomplished a year ahead of the prior lease’s expiration, without any expense or concessions from the Company. Our team continues to seek out and execute on transactions like these that will grow and fortify our best-in-class portfolio.”

About Global Net Lease, Inc.

Global Net Lease, Inc. (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE focused on acquiring a diversified global portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant, mission critical income producing net-leased assets across the United States, Western and Northern Europe. Additional information about GNL can be found on its website at