Eric Gordon's questions to Global Net Lease Inc (GNL) leadership • Q4 2024
Question
An analyst, identified as Eric Gordon, asked if a write-down was associated with the portfolio sale, questioned why post-sale annual CapEx wasn't lower, and asked for the priority ranking for the use of proceeds.
Answer
Chief Financial Officer Christopher Masterson clarified that no write-down was taken and that the company expects to realize a gain upon closing. Chief Executive Officer Edward Weil explained that remaining CapEx is necessary due to a mix of triple-net and double-net leases. Weil stated that acquisitions are the lowest priority, with the primary focus being on leverage reduction and opportunistic share repurchases under the new $300 million authorization.