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Mergers & AcquisitionsMediumUpdated•Originally published 4 May 2026•Updated 4 May 2026•

1 min read

Global Net Lease to Acquire Modiv Industrial in $535 Million All-Stock Merger

Key Facts

1Global Net Lease announced a definitive merger agreement to acquire Modiv Industrial in an all-stock transaction valued at an enterprise value of approximately $535 million.

2The transaction is expected to provide an immediate 4% accretion to Adjusted Funds From Operations (AFFO) per share for GNL.

about 1 month ago

Version History

Version 1about 1 month ago

What changed: Added stock tickers (GNL and MDV) and confirmed the NYSE exchange listing for both entities.

Global Net Lease (NYSE: GNL) has announced a definitive agreement to acquire Modiv Industrial (NYSE: MDV) in an all-stock transaction valued at approximately $535 million. The strategic merger aims to expand GNL's portfolio of mission-critical industrial properties through a leverage-neutral structure that requires no external capital. The transaction is projected to be immediately accretive, providing a 4% boost to GNL's Adjusted Funds From Operations (AFFO) per share. Additionally, MDV stockholders are anticipated to see a 25% increase in annual dividends following the merger's completion on the NYSE. This acquisition underscores GNL's commitment to scaling its industrial net-lease footprint while enhancing shareholder value. The deal represents a significant consolidation within the mid-cap real estate investment trust sector.