Global Net Lease and The Necessity Retail REIT to Merge, Creating Sector-Leading Diversified Net Lease REIT
May 23, 2023 | The Necessity Retail REIT, Inc. and Global Net Lease, Inc.
Global Net Lease Inc. (NYSE: GNL, “GNL”) and The Necessity Retail REIT Inc. (NASDAQ: RTL, “RTL”) announced today that they have entered into a definitive merger agreement (the “Merger Agreement”), under which GNL will acquire RTL in an all-stock transaction (the “Merger”). GNL and RTL have also entered into a definitive agreement that will result in the combined entity becoming internally managed, with the external asset and property management functions currently performed by affiliates of AR Global, LLC (the “External Manager”) being internalized (the “Internalization,” together with the Merger, the “Transactions”). The combined internally managed company, which will operate as Global Net Lease (“GNL Post-closing”), is expected to own and manage over 1,350 properties and have an aggregate real estate asset value of approximately $9.6 billion at the closing of the Transactions.
