Global Net Lease, Inc. has entered into a binding agreement to sell its multi-tenant portfolio of 100 non-core properties to a subsidiary of RCG Ventures Holdings, LLC for approximately $1.8 billion at an 8.4% cash cap rate. The sale would accelerate GNL’s deleveraging initiative and position the company as a pure-play, single-tenant net lease company.

GNL launched its strategic disposition initiative in 2024 to significantly reduce debt, enhance financial flexibility and lower the cost of capital. Following completion of the multi-tenant portfolio sale, GNL expects to have completed nearly $3 billion in dispositions by the end of 2025.

“We believe the proposed sale of our multi-tenant portfolio is a strategic and prudent transaction that will bolster our balance sheet and position GNL for continued success,” said Michael Weil, CEO of GNL. “The proposed transaction greatly decreases operational complexities, G&A expenses and capital expenditures associated with multi-tenant retail properties.”

Pictured: Fountain Square in Brookfield, WI, among the multi-tenant properties GNL is selling.