Global Net Lease Acquisition to Create $3.3B Mega-REIT
By
ING Bank in Amsterdam, an American Realty Capital Global Trust II property
New York—Global Net Lease Inc. (GNL) is set to acquire American Realty Capital Global Trust II, the two companies announced upon both of their board of directors unanimous approval. The acquisition will create a global mega-REIT with an enterprise value of approximately $3.3 billion. Upon closing, Global II shareholders will own a 14 percent slice of the resulting company.
By acquiring the outstanding common stock of Global II for approximately $247 million, GNL will put together two net lease portfolios with a combined 345 properties with 99 tenants. The resulting asset base—with properties in the U.S. and six European countries—will comprise approximately 23 million square feet. The combined occupancy rate of the portfolio is almost 100 percent…
