Global Net Lease completes $535 million acquisition of Modiv Industrial

Global Net Lease completed its acquisition of Modiv Industrial on Aug. 12, 2026, adding a primarily industrial portfolio valued at $535 million.

Assets were bought at about a 7.6% cash cap rate and about an 8.7% GAAP cap rate.

The transaction is expected to be immediately 4% accretive to AFFO per share on a leverage-neutral basis.

Industrial exposure rises to about 50% of straight-line rent; pro forma weighted average remaining lease term extends to 6.6 years.

Modiv shareholders received 1,975 new GNL shares per Modiv common share; Modiv preferred converted to $25 cash plus accrued dividends.