1315_Nareit Testimonial Reitweek Weil 20240613 v2

Michael Weil, CEO of Global Net Lease, Inc. (NYSE: GNL), sat down for a video interview at Nareit’s REITweek: 2024 Investor Conference, held in New York from June 3-6. He highlighted key elements of the company’s latest earnings report, emphasizing the strategic moves it is making to secure long-term value.

"We did over 1.4 million square feet of new leasing in the quarter, with the average term of the lease being a little over 10 years," Weil said, pointing out the expected $17 million in annual NOI from these leases.

Weil also elaborated on the REIT’s disposition plan, noting the significant progress made in the first quarter.

"We had announced a disposition plan for the year targeting $400 to $600 million, and through the first quarter, our pipeline and closed deals total almost $550 million," he said, highlighting the swift execution of these goals.

Looking ahead, Weil indicated that Global Net Lease would prioritize leveraging capital generated from asset dispositions to deleverage and strengthen its portfolio. He expressed confidence in the continued demand for their high-quality assets and the anticipated benefits from potential rate cuts in the near future.

"Our business plan isn’t solely dependent upon rate cuts. There’s a lot that we are executing on and will continue to," he added.