Global Net Lease to Sell Multi-Tenant Portfolio in $1.8 Billion Deal

Paul, Weiss is advising Global Net Lease, Inc., (GNL) on the sale of its portfolio of 100 non-core multi-tenant shopping center properties to a subsidiary of RCG Ventures Holdings, LLC, for approximately $1.8 billion, reflecting an 8.4% cash capitalization rate. The transaction accelerates GNL’s deleveraging initiative and positions the company as a pure-play, single-tenant net lease company.

The Paul, Weiss team is led by partners Jeffrey Marell and Peter Fisch and includes real estate partner Ida Nowaid and tax partner Scott Sontag.