GNL sells $74M in assets since Q1, reducing office to 21% ahead of $535M Modiv acquisition

Filed June 29, 2026 · Period ending June 29, 2026 · ~2 min read

Key Changes

• high

  Pending $535M Modiv Industrial acquisition expected to close Q3 2026, immediately 4% accretive to AFFO per share, leverage neutral, extending weighted average lease term from 5.9 to 6.7 years pro forma

  Exhibit 99.1 verify on EDGAR →
• high

  Sold $74M in assets since Q1 2026, including $61M in office properties (93% of occupied sales) at 7.2% cash cap rate; year-to-date dispositions total $145M at 7.5% cash cap rate on occupied assets

  Exhibit 99.1 verify on EDGAR →
• high

  Office exposure to decline to ~21% of portfolio straight-line rent upon completion of disclosed transactions, down from ~26% in Q1 2026, reflecting strategic shift toward industrial and retail

  Exhibit 99.1 verify on EDGAR →