Global Net Lease acquires Modiv Industrial for $535 million

Global Net Lease, Inc. (GNL) has completed the acquisition of Modiv Industrial, Inc., adding a $535 million portfolio of industrial net-lease properties located across the United States. The transaction, which closed on August 12, is part of GNL’s strategy to expand its industrial real estate exposure.

Following the acquisition, industrial assets now represent approximately 50% of GNL’s total straight-line rent. The company expects the deal to improve portfolio quality, diversification, and the durability of long-term cash flows.

Under the terms of the agreement, Modiv common shareholders received 1.975 newly issued GNL shares for each share held. Modiv preferred shareholders received $25 per share in cash, plus any accrued and unpaid dividends. The law firm Greenberg Traurig, LLP provided legal counsel to Global Net Lease throughout the transaction.