Global Net Lease ( (GNL) ) has issued an update.
Global Net Lease, Inc. reported a successful quarter in its strategic initiatives, achieving $85 million in annual cost synergies, exceeding its $75 million target. The company reduced net debt by $445 million, primarily through asset sales, and improved its Net Debt to Adjusted EBITDA ratio. GNL increased its asset disposition target, reaching $950 million in closed transactions, and enhanced its portfolio quality by selling non-core properties and reducing office sector exposure. The company also improved occupancy rates to 96%, indicating robust asset management and positioning for future growth.
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