12:32 PM EDT, 06/11/2025 (MT Newswires) -- Global Net Lease ( GNL ) said Wednesday that it closed the second phase of its multi-tenant portfolio sale, consisting of 28 encumbered properties, to RCG Ventures for gross proceeds of about $400 million.

The real estate investment trust said it expects to complete the third and final phase of the multi-tenant portfolio sale, which will include 12 encumbered properties, by the end of Q2.

Global Net Lease ( GNL ) said it plans to use the incremental net proceeds from the final two phases to pay down the outstanding balance on its revolving credit facility.

The first phase of the multi-tenant portfolio sale was completed in March, generating about $1.1 billion in gross proceeds, the company said.

Shares were up 1% in recent trading.

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