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Global Net Lease closes on $105M of purchases in Q3

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Global Net Lease closes on $105M of purchases in Q3

Global Net Lease Inc. completed the $105.4 million purchase of four properties, spanning about 1.3 million square feet, in the third quarter.

The assets are in New York; Allen, Texas; Akron, Ohio; and Greenville, N.C.

The net-lease real estate investment trust financed the purchase through amounts drawn under its revolving credit facility and cash on hand, including proceeds from a 4 million-share common stock offering.

The company's pipeline of closed and scheduled-to-close purchases in 2018 sat at $401 million at the end of the quarter, with $266.4 million of completed acquisitions and a further $134 million to close by the end of the fourth quarter.