GNL completes $535M Modiv acquisition, issuing 20.4M shares and paying $42.3M cash

Filed August 13, 2026 · Period ending August 12, 2026 · ~2 min read

Key Changes

• high

  GNL closed acquisition of Modiv Industrial for $535M, issuing ~20.4M shares (1.975 per Modiv share) to common stockholders and paying $42.3M cash to preferred holders, funded via revolving credit facility.

  Item 2.01 — Completion of Acquisition or Disposition of Assets verify on EDGAR →
• high

  Transaction priced at 7.6% cash cap rate and 8.7% GAAP cap rate, expected to be 4% accretive to AFFO per share on a leverage-neutral basis.

  Exhibit 99.1 view on EDGAR →
• high

  Acquired portfolio has 15-year weighted average lease term, 45% of rent from investment-grade tenants, and 2.4% average annual rent escalations; increases GNL's industrial exposure to ~50% of total rent.

  Exhibit 99.1 view on EDGAR →