Global Net Lease ( (GNL) ) has issued an update.
Global Net Lease, Inc. reported its third-quarter 2024 financial performance, showcasing strong progress with significant cost synergies and debt reduction. The company exceeded its $75 million cost synergy target by achieving $85 million, and reduced net debt by $445 million, improving its financial leverage. GNL’s occupancy increased to 96%, and the disposition pipeline reached $950 million, aiming to reduce debt further. Despite a net loss, the company reaffirmed its 2024 financial guidance, highlighting robust leasing activities and strategic asset disposals, promising a positive momentum for the year-end.
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