Global Net Lease, Inc. reported a net loss of $16.0 million for the first quarter of 2026, a significant improvement compared to a net loss of $200.3 million in the same period of 2025. The company’s revenue from tenants decreased to $109.3 million, down from $132.4 million year-over-year. This decline was primarily attributed to the loss of revenue from property dispositions, particularly in the Industrial & Distribution and Retail segments, which saw revenues drop by approximately $8.8 million and $7.6 million, respectively. Despite these challenges, the company recorded a net gain of $7.9 million from the sale of 11 properties during the quarter.
Total assets as of March 31, 2026, were reported at $4.15 billion, a decrease from $4.35 billion at the end of 2025. The decline in total assets was largely due to a reduction in real estate investments, which fell to $3.71 billion from $3.81 billion. The company’s liabilities also decreased, totaling $2.59 billion compared to $2.68 billion at the end of the previous year. The reduction in liabilities was driven by a decrease in mortgage notes payable and revolving credit facilities, which were $1.22 billion and $290.0 million, respectively, as of March 31, 2026.
In terms of operational metrics, Global Net Lease owned 809 properties with a total of 40.3 million rentable square feet, achieving a 97% occupancy rate. The portfolio consisted of 47% Industrial & Distribution properties, 27% Retail properties, and 26% Office properties. The weighted-average remaining lease term across the portfolio was 5.9 years, with approximately 64.4% of rental income derived from investment-grade tenants. The company did not acquire any new properties during the quarter but continued to manage its existing portfolio actively.
Looking ahead, Global Net Lease has entered into a merger agreement with Modiv Industrial, Inc., which is expected to close in the third quarter of 2026, subject to customary closing conditions. The merger is anticipated to enhance the company’s portfolio and operational scale. Management remains focused on maintaining liquidity and capital resources, with cash and cash equivalents totaling $125.5 million as of March 31, 2026. The company expects that cash generated from operations will be sufficient to fund its dividend payments and capital expenditures in the near term.
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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