07:42 AM EDT, 06/27/2024 (MT Newswires) -- Global Net Lease ( GNL ) said Thursday it has sold nine cold storage properties currently leased to Americold Realty Trust ( COLD ) subsidiaries for $170 million.

The properties were sold at a cash cap rate of 7.88%, with an average remaining lease term of 3.3 years, Global Net Lease ( GNL ) said.

Global Net Lease ( GNL ) said it intends to use proceeds from the sale to pay down debt.

Price: 7.03, Change: +0.01, Percent Change: +0.14