Global Net Lease to acquire Modiv Industrial in $535M all-stock deal, boosting earnings and portfolio quality.

Global Net Lease, Inc. (GNL) announced it will acquire Modiv Industrial, Inc. (Modiv) in an all-stock transaction valued at approximately $535 million. The deal is expected to be immediately accretive to GNL’s AFFO per share by 4% while maintaining leverage neutrality, enhancing GNL’s portfolio with high-quality industrial net-lease assets. Modiv shareholders will receive 1.975 GNL shares per Modiv share, representing a 17% premium, and a 25% increase in annual dividends. The transaction, expected to close in Q3 2026, strengthens GNL’s portfolio diversification and long-term growth prospects without requiring external capital.