Global Net Lease Announces Second Quarter Rent Collection Success

Rhea-AI Summary

Global Net Lease (NYSE: GNL) reported that it has collected 98% of the second quarter cash rent due as of July 6, 2020. This includes 99% from the UK and 100% from other European assets. CEO James Nelson emphasized the importance of tenant relations during the global disruptions caused by the pandemic. The company highlights its focus on credit quality and due diligence as they navigate ongoing challenges. The press release is a positive indicator of GNL's operational resilience amidst economic uncertainty.

Positive

• 98% of second quarter cash rent collected as of July 6, 2020.
• 99% cash rent collected from UK assets.
• 100% cash rent collected from other European assets.
• Strong emphasis on building relationships with tenants during the pandemic.

Negative

• None.

NEW YORK, July 8, 2020 /PRNewswire/ -- Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") announced today that 98% of the original cash rent due for the second quarter of 2020 has been received as of July 6, 2020, including 99% of the original cash rent due from the Company's assets in the United Kingdom and 100% of the original cash rent due from the Company's assets in the rest of Europe.

"I am proud of our tremendous success collecting rent during a quarter of unprecedented global disruption," said James Nelson, CEO of GNL. "We have been in direct contact with many of our tenants over the last three months, building relationships that we believe, combined with our emphasis on credit quality, due diligence and underwriting, will continue to serve us well as the effects of the pandemic are still being felt."

About Global Net Lease, Inc.

Global Net Lease, Inc. (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE focused on acquiring a diversified global portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant, mission critical income producing net-leased assets across the United States, Western and Northern Europe. Additional information about GNL can be found on its website at www.globalnetlease.com.

Important Notice

The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results or events to be materially different. The words "anticipates," "believes," "expects," "estimates," "projects," "plans," "intends," "may," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company's control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the potential adverse effects of the ongoing global coronavirus pandemic, including actions taken to contain or treat the coronavirus, on the Company, the Company's tenants and the global economy and financial markets and that the information about second quarter 2020 rent collections includes additional rent collected with respect to April and May as compared to previously reported information due to ongoing collection efforts and second quarter 2020 rent collections may not be indicative of any future period, as well as those risks and uncertainties set forth in the Risk Factors section of the Company's Annual Report on Form 10-K for the year ended December 31, 2019 filed on February 28, 2020, the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 filed on May 7, 2020 and all other filings with the SEC after that date, as such risks, uncertainties and other important factors may be updated from time to time in the Company's subsequent reports. Further, forward looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results, unless required to do so by law.

Contacts:

Investors and Media:
Email: investorrelations@globalnetlease.com
Phone: (212) 415-6510

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SOURCE Global Net Lease, Inc.

FAQ

What percentage of rent did Global Net Lease collect in Q2 2020?

Global Net Lease collected 98% of the original cash rent due for the second quarter of 2020.

How much rent did GNL collect from its UK assets in Q2 2020?

GNL collected 99% of the original cash rent due from its assets in the UK.

What was the rent collection rate from GNL's European assets in Q2 2020?

GNL collected 100% of the original cash rent due from its assets in other European countries.

Who is the CEO of Global Net Lease?

The CEO of Global Net Lease is James Nelson.

Is GNL concerned about the impact of the pandemic on rent collection?

Yes, GNL emphasizes the ongoing effects of the pandemic, but reports strong rent collection success.