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- International Internet Lease (NYSE:GNL) bought two properties for over $122M, bringing its closings and secured agreements for tendencies to $854M at a money cap fee of seven.2% as of Aug. 31, 2024 and marking progress in its 2024 strategic disposition plan.
- The online lease REIT bought The Plant Procuring Middle in San Jose, CA, for $95M and the Foster Wheeler workplace property in Shinfield Park, Studying, U.Ok., for over $27M.
- International Internet Lease (GNL) used the proceeds from The Plant Procuring Middle sale to pay down its revolving credit score facility. The corporate divided the property into two separate parcels, retaining possession of a now-single tenant property leased to Residence Depot (HD).
- The sale of the Foster Wheeler property reduces GNL’s workplace publicity by ~100 foundation factors, reducing complete workplace publicity to 19% of its complete portfolio’s straight-line lease, the corporate mentioned.
