GNL Reduces Debt with $170M Sale of Americold-Leased Properties
Portfolio Pulse from Benzinga Newsdesk
Global Net Lease, Inc. (NYSE:GNL) has sold a portfolio of nine cold storage properties leased to Americold Realty Trust, Inc. (NYSE:COLD) for $170 million. The sale aligns with GNL's strategic disposition initiative and 2024 guidance, and the proceeds will be used to reduce debt.
June 27, 2024 | 10:05 am
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POSITIVE IMPACT
Global Net Lease, Inc. (NYSE:GNL) has sold nine cold storage properties for $170 million, aligning with its strategic disposition initiative and 2024 guidance. The proceeds will be used to reduce debt.
The sale of properties for $170 million will help GNL reduce its outstanding debt, which is a positive move for the company's financial health. This aligns with their strategic goals and 2024 guidance, likely boosting investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Americold Realty Trust, Inc. (NYSE:COLD) is the lessee of the nine cold storage properties sold by GNL for $170 million. The sale does not directly impact COLD's operations but may influence investor perception.
While COLD is the lessee of the properties sold by GNL, the transaction does not directly impact COLD's operations. However, it may influence investor perception of COLD's leasing agreements.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50