BUZZ-Global Net Lease rises on $1.8 billion portfolio sale, $300 million buyback plan
ReutersFeb 26, 2025 1:50 PM
Shares of real estate investor Global Net Lease GNL.N rise 6.2% to $7.75 premarket
Co says it is selling its multi-tenant portfolio to subsidiary of RCG Ventures Holdings for about $1.8 bln
GNL plans to use proceeds to lower balance on its Revolving Credit Facility, aiming for investment-grade credit rating
Co says it is expecting to save $6.5 million annually in G&A expenses
GNL's board also has approved $300 mln share repurchase program
Co says it plans to sell almost $3 billion in properties by end of 2025
Stock fell 26.6% in 2024
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