RCG Ventures to acquire a multi-tenant portfolio of 100 non-core properties from Global Net Lease for $1.8bn.

RCG Ventures, a privately funded real estate investment group, agreed to acquire a multi-tenant portfolio of 100 non-core properties from Global Net Lease, a real estate investment trust company, for $1.8bn. "We believe the proposed sale of our multi-tenant portfolio is a strategic and prudent transaction that will bolster our balance sheet and position GNL for continued success. The proposed transaction greatly decreases operational complexities, G&A expenses and capital expenditures associated with multi-tenant retail properties. The announcement marks a pivotal milestone in our strategic disposition initiative, offering a range of benefits with a clear emphasis on long-term value. The transaction reflects a disciplined and measured approach to accelerating debt reduction, driving a significant decrease in Net Debt to Adjusted EBITDA. We believe the resulting improvement in our capital structure strengthens our position to achieve an investment-grade credit rating, which may further reduce our cost of capital and enhance financial flexibility to support long-term growth," Michael Weil, GNL CEO.