Global Net Lease closes $237M CMBS loan at 5.74% fixed rate, secured by 20 industrial properties

Global Net Lease, Inc.

Loan amount $237M, fixed rate 5.74%, 5-year interest-only term, maturing April 6, 2029.
Proceeds used to repay draws on corporate credit facility; properties removed from borrowing base.
Loan secured by first-priority mortgages on 20 U.S. industrial properties.
Guarantor must maintain net worth of $150M and liquid assets of $10M.
Prepayment allowed after April 2025 with yield maintenance; defeasance option after April 2027.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.96

Global Net Lease, Inc. entered into Environmental Indemnity Agreement with Bank of Montreal, Société Générale Financial Corporation, Barclays Capital Real Estate Inc., KeyBank National Association valued at Indemnification against environmental losses (effective 2024-04-05).

Action: entry
Agreement: credit facility
Counterparty: Bank of Montreal, Société Générale Financial Corporation, Barclays Capital Real Estate Inc., KeyBank National Association
Value: Indemnification against environmental losses
Effective: 2024-04-05

Exact text from the filing

In connection with the entry into the Loan Agreement, on April 5, 2024, the OP entered into a Guaranty Agreement (the “Guaranty”) and an Environmental Indemnity Agreement (the “Environmental Indemnity”) for the benefit of the Lenders.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.97

Global Net Lease, Inc. entered into Guaranty Agreement with Bank of Montreal, Société Générale Financial Corporation, Barclays Capital Real Estate Inc., KeyBank National Association valued at Guaranty of full repayment and indemnification (effective 2024-04-05).

Action: entry
Agreement: credit facility
Counterparty: Bank of Montreal, Société Générale Financial Corporation, Barclays Capital Real Estate Inc., KeyBank National Association
Value: Guaranty of full repayment and indemnification
Effective: 2024-04-05

Exact text from the filing

In connection with the entry into the Loan Agreement, on April 5, 2024, the OP entered into a Guaranty Agreement (the “Guaranty”) and an Environmental Indemnity Agreement (the “Environmental Indemnity”) for the benefit of the Lenders.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Global Net Lease, Inc. entered into Commercial Mortgage-Backed Security Loan Agreement with Bank of Montreal, Société Générale Financial Corporation, Barclays Capital Real Estate Inc., KeyBank National Association valued at $237 million (effective 2024-04-05).

Action: entry
Agreement: credit facility
Counterparty: Bank of Montreal, Société Générale Financial Corporation, Barclays Capital Real Estate Inc., KeyBank National Association
Value: $237 million
Effective: 2024-04-05

Exact text from the filing

On April 5, 2024, Global Net Lease, Inc. (the “Company”), through subsidiaries (collectively, the “Borrowers”) of its operating partnership, Global Net Lease Operating Partnership, L.P. (the “OP”), entered into a commercial mortgage-backed security Loan Agreement (the “Loan Agreement”), with (i) Bank of Montreal, (ii) Société Générale Financial Corporation, (iii) Barclays Capital Real Estate Inc. and (iv) KeyBank National Association (each individually, a “Lender,” and collectively, the “Lenders”), in the aggregate amount of $237 million (the “Loan”).

View on SEC.gov

419 material agreements filed in the last 30 days. Browse all material agreements →

Global Net Lease, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-045455

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.