Global Net Lease, Inc. (GNL) reported a net loss attributable to common stockholders of $269.2 million for the fiscal year ending December 31, 2025, compared to a loss of $175.3 million in the previous year. The company's total revenue from tenants decreased to $495.3 million from $569.8 million, primarily due to significant property dispositions, including the sale of its Multi-Tenant Retail Portfolio. The Industrial & Distribution segment generated $225.7 million in revenue, down from $237.6 million, while the Retail segment saw a decline from $165.6 million to $132.8 million. The Office segment also experienced a decrease in revenue, falling from $143.6 million to $136.8 million.
In terms of operational changes, GNL completed the sale of 200 properties during 2025, generating net proceeds of $711.7 million. This was part of a strategic initiative to reduce leverage and focus on core assets. The company also underwent a significant merger with The Necessity Retail REIT, which was finalized on September 12, 2023. As of December 31, 2025, GNL owned 820 properties across the U.S. and Europe, with a total of 40.7 million rentable square feet, maintaining a 97% occupancy rate and a weighted-average remaining lease term of 6.1 years.
The company reported a total gross debt of $2.6 billion as of December 31, 2025, down from $4.7 billion the previous year. This reduction was attributed to strategic dispositions and a focus on managing leverage. GNL's interest expense decreased to $194.7 million from $255.7 million, reflecting lower debt levels and a reduced weighted-average effective interest rate of 4.2%. The company also recorded impairment charges of approximately $157.5 million for 106 properties, indicating a significant decline in their estimated fair value.
Looking ahead, GNL plans to continue managing its leverage through strategic dispositions and is currently evaluating additional opportunities for property sales. The company has entered into purchase and sale agreements totaling $68.7 million and has a share repurchase program authorized for up to $300 million. GNL's management remains focused on generating stable cash flows and maintaining its REIT status, which requires distributing at least 90% of its taxable income to shareholders. The company’s outlook remains cautious, given the potential impact of market conditions and economic challenges on its operations and financial performance.
About Global Net Lease, Inc.
Global Net Lease, Inc. is a REIT specializing in acquiring and managing a diversified portfolio of income-producing net lease properties across the U.S. and Europe. Its core assets include single-tenant and multi-tenant retail, industrial, and office properties leased to investment-grade tenants. The company focuses on long-term leases, geographic and industry diversification, and stable cash flows, operating through internal management and strategic asset dispositions.
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