Global Net Lease, The Necessity Retail REIT to merge and create $9.6b global net lease REIT

Global Net Lease (GNL) and The Necessity Retail REIT (RTL), with their respective advisors and property managers and AR Global, have entered into a cooperation agreement with Blackwells Capital, alternative investment manager.

The combined company is expected to own and manage more than 1,350 properties with an aggregate real estate asset value of about $9.6 billion.

Under the terms of the cooperation agreement, the Blackwells Parties will withdraw their nomination notices and proposals at both GNL and RTL and have agreed to vote in favor of the share issuances for the previously announced merger of GNL and RTL, and internalization transactions at the GNL special meeting.

“We are pleased to have reached an agreement with Blackwells that we believe is in the best interests of the Global Net Lease and The Necessity Retail REIT shareholders,” said Michael Weil, CEO of RTL, and James Nelson, CEO of GNL. “The combination of GNL and RTL will create a leading gl