1315_Nareit Testimonials_Nelson_2023-06-27_v2
07/05/2023
| by
Nareit Staff
Jim Nelson, CEO of Global Net Lease, Inc. (NYSE: GNL), participated in a video interview at Nareit’s REITweek: 2023 Investor Conference, held in New York June 6-8.
Nelson discussed GNL’s recently announced planned merger with The Necessity Retail REIT, its leasing activity, ability to raise rents and other key metrics at mid-year, and where GNL might see the most opportunity in the next six to 12 months.
During the interview, Nelson noted that:
- The new company will have 1350 properties and almost $10 billion of assets.
- In Europe, GNL is having “great success” and can negotiate rent renewals three to five years in advance in many cases. A lot of GNL’s properties are corporate headquarters, and some companies are moving staff from satellite offices back into the main office, which benefits GNL. “We’ve had very great success on renewals over the last few years. It’s really been a positive.”
- The portfolio composition is unlikely to change much in the next six to 12 months, “but I see more opportunities for some of the other portions of the combined companies.”