Global Net Lease cuts office exposure, reduces debt by $1.3B, and plans $535M Modiv Industrial acquisition.

Global Net Lease reported Q1 2026 results, highlighting a $1.3 billion net debt reduction and a strategic shift away from office properties, with 68% of $132 million asset sales in office sector. The company entered a $535 million all-stock deal to acquire Modiv Industrial, expected to boost AFFO per share by 4% immediately and maintain leverage neutrality. Revenue was $109.3 million, with AFFO per share at $0.21, and full-year AFFO guidance reaffirmed at $0.80 to $0.84, excluding the Modiv deal impact. The acquisition aims to strengthen the portfolio with high-quality industrial assets and enhance earnings growth in 2026.