Global Net Lease and The Necessity Retail REIT, two publicly traded net lease REITs, have announced a merger to create a new entity with approximately $10 billion in real estate assets. The merged company will become the third-largest publicly traded net lease REIT in the United States. Specializing in sale-leaseback transactions with single tenants, the new entity will operate under the name Global Net Lease. The merger will involve GNL acquiring Necessity Retail through an all-stock deal, leading to the internalization of management functions. This move is expected to result in annual cash savings of around $54 million for the new company. The merger is set to be completed in the third quarter.
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Frequently asked questions
A full-service lease is a lease that has one, all-inclusive rental rate which includes both the base lease rate and the operating expenses combined into one figure.
A modified gross lease is a lease where the tenant pays base rent at the lease’s inception, but it takes on a proportional share of some of the other costs associated with the property as well, such as property taxes, utilities, insurance, and maintenance.
A triple net lease is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities.
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480.947.0600
4414 N. Civic Center Plaza #100 Scottsdale AZ. 85251