Global Net Lease, Inc 8-K, filed Apr 20, 2021
Global Net Lease, Inc. (GNL)
About this 8-K
Global Net Lease, Inc filed this 8-K on April 20, 2021.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 7.01. Regulation FD Disclosure.
On April 20, 2021, Global Net Lease, Inc. (the “Company”) issued a press release, a copy of which is attached hereto as Exhibit 99.1. The information set forth in Item 7.01 of this Current Report on Form 8-K and in the attached Exhibit 99.1 is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information set forth in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing.
Item 8.01. Other Events.
Acquisition Pipeline
On April 20, 2021, the Company announced that one of the acquisitions in its previously announced forward acquisition pipeline of definitive purchase and sale agreements (“PSAs”) is a PSA to acquire three net lease properties located in the United Kingdom for an aggregate contract purchase price of approximately $234.6 million (based on exchange rates on April 16, 2021). The properties serve as the world headquarters for the McLaren Group’s Automotive, Racing and Applied divisions and are being acquired in a sale-leaseback transaction. The PSA is subject to conditions and there can be no assurance the Company will complete this acquisition, or any future acquisitions, on a timely basis or on acceptable terms and conditions, if at all.
Forward-Looking Statements
The statements in this Current Report on Form 8-K that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. In addition, words such as “anticipates,” “believes,” “expects,” “estimates,” “projects,” “plans,” “intends,” “may,” “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 COVID-19 pandemic, including actions taken to contain or treat COVID-19, on the Company, the Company’s tenants and the global economy and financial markets, as well as those set forth in the Risk Factors section of the Company’s most recent Annual Report on Form 10-K for the year ended December 31, 2020 filed on February 26, 2021 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 over time, unless required by law.
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits |
| Exhibit No | Description | |
| 99.1 | Press Release dated April 20, 2021 | |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GLOBAL NET LEASE, INC. | |||
| Date: April 20, 2021 | By: | /s/ James L. Nelson | |
| Name: | James L. Nelson | ||
| Title: | Chief Executive Officer and President | ||
Exhibit 99.1
GLOBAL NET LEASE to acquire mclaren Group Headquarters
in £170 million, 20-year sale-leaseback
NEW YORK – April 20, 2021 – Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) announced today1 that the Company has agreed to acquire a three property office and industrial campus in Woking, Surrey, England that serves as the world headquarters for McLaren’s Automotive, Racing, and Applied divisions (the “McLaren Group Headquarters”). The contract purchase price for the combined 840,000 square foot campus is £170 million with a 20-year, NNN lease. The transaction is expected to close in the second quarter of 2021.
“We are excited to announce that this world-class facility will become part of the GNL portfolio,” said James Nelson, CEO of GNL “The McLaren Group Headquarters’ state of the art buildings have won numerous awards, were designed by renowned architect Norman Foster, and are the type of mission-critical, net-leased properties that make up the GNL portfolio. We are very pleased to have been able to collaborate and work with the management team of the McLaren Group to effect this transaction. We look forward to the long-term partnership with McLaren and the benefits this transaction will have to GNL. The acquisition exemplifies GNL’s ability to source large scale and accretive sale-leaseback opportunities in a competitive marketplace that add significant value to our overall portfolio. We believe our global presence as a leading net lease REIT will continue to provide attractive acquisition opportunities that complement our best-in-class portfolio.”
About the McLaren Group Headquarters
The McLaren Technology Center is a campus in Woking, Surrey, England which includes the McLaren Technology Centre, McLaren Production Centre and McLaren Thought Leadership Centre. The award-winning campus was designed by world-renowned architects, Foster & Partners, has easy access to Central London and Heathrow Airport, and hosts approximately 1,000 workers. The Technology Centre is home to the McLaren Formula One constructor. The campus has many environmentally conscious features. In 2010, the campus, which includes several lakes which assist in cooling efforts, earned Carbon Trust Standard certification from the Carbon Trust. The buildings have self-cleaning roofs that use a high-pressure drainage system to collect rainwater which is then used to refill the lake. In 2011 McLaren Racing was announced as the first ever carbon neutral team in Formula 1. The firm has also planted more than 100,000 trees at the site and created a wildlife sanctuary for otters and kingfishers.
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 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, 2020 filed on February 26, 2021, 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.
1.This acquisition is part of GNL's previously disclosed acquisition pipeline.
Contacts:
Investors and Media:
Email: investorrelations@globalnetlease.com
Phone: (212) 415-6510