Global Net Lease, Inc. — Form 8-K

Global Net Lease completed its acquisition of Modiv Industrial on August 12, 2026, issuing 1.975 newly issued GNL shares for each Modiv common share and $25.00 cash per preferred share. The $535M industrial portfolio addition raises GNL's industrial exposure to ~50% of straight-line rent, extends weighted average lease term from 5.7 to 6.6 years, and is expected to be immediately 4% accretive to AFFO per share on a leverage-neutral basis at 7.6% cash cap rate and 8.7% GAAP cap rate. The partnership agreement was amended to grant GNL's OP a call right on OP units issued to Modiv limited partners, with enhanced redemption amounts (1.25x for two years post-close, 1.50x if called within two years).