James Nelson, president and CEO, Global Net Lease, Inc. (NYSE: GNL), participated in a video interview in conjunction with Nareit’s REITweek: Virtual Investor Conference (held June 2-4).
Nelson discussed some of the ways in which Global Net Lease has positioned its portfolio to withstand the current economic uncertainty. He noted that the REIT has focused on purchasing industrial and distribution properties, and a large percentage are investment grade. The company has also reduced its retail exposure.
“That diversification has played a large role in our successful rent collection in April,” Nelson said. Global Net Lease collected 98% of rents across nine countries in April. He noted that the company’s office properties have also performed well during the crisis.
As for acquisitions, Global Net Lease is primarily looking at opportunities in the United States. “We’re being very, very cautious in what we buy, but we’re still being acquisitive,” he said.