Global Net Lease will acquire Modiv Industrial in an all-stock transaction valued at an enterprise value of approximately $535 million. The transaction, once completed, will provide GNL with an attractive portfolio of high-quality mission-critical industrial properties across the United States while also providing Modiv stockholders with an immediate 25 percent expected increase in annual dividends and the opportunity to participate in the future growth of the combined company.
The transaction is expected to be immediately 4 percent accretive to GNL’s AFFO per share while remaining leverage neutral, fully preserving GNL’s balance sheet strength and financial flexibility. GNL intends to fully repay all of Modiv’s existing balance sheet debt and pay off Modiv’s preferred stock using its revolving credit facility and cash on hand, requiring no external capital to complete the transaction.
“We believe this transaction is a compelling opportunity for GNL to expedi
