Global Net Lease to acquire Modiv Industrial in $535M all-stock deal boosting industrial real estate portfolio

Global Net Lease (GNL) announced a $535 million all-stock merger to acquire Modiv Industrial (MDV), aiming to expand its industrial real estate holdings. The deal is expected to be immediately accretive to earnings and leverage-neutral, with Modiv shareholders receiving nearly two GNL shares per Modiv share. This merger will reduce GNL's office exposure and increase its industrial asset base, with anticipated $6 million annual cost synergies. The transaction is set to close in Q3 2026, pending Modiv shareholder approval, and is expected to enhance long-term earnings growth and dividend income for investors.