and Canada, 38% Europe (based on annualized straight-line rent)Ĥ2% Office, 55% Industrial / Distribution and 3% Retail (based on an annualized straight-line rent)Ĭapital Structure and Liquidity Resources 5Īs of June 30, 2022, the Company had $111.2 million of cash and cash equivalents. The real estate portfolio metrics include:ĩ8.9% leased with a remaining weighted-average lease term of 8.3 yearsĩ4.7% of the portfolio contains contractual rent increases based on annualized straight-line rentĦ2.3% of portfolio annualized straight-line rent derived from investment grade and implied investment grade rated tenants 4Ħ2% U.S. The Company's portfolio of 311 net lease properties is located in eleven countries and territories and comprised of 39.5 million rentable square feet leased to 140 tenants across 50 industries at June 30, 2022. NAREIT defined FFO per diluted common shareĬore FFO attributable to common stockholders
NAREIT defined FFO attributable to common stockholders Net loss attributable to common stockholders Recast credit facility with new $1.45 billion revolving facility with 4.5 year term and improved pricing Over 62% of annualized straight-line rent comes from Investment Grade or implied Investment Grade tenants 4Ĭompleted eight lease renewals and two tenant expansion projects year-to-date, totaling 2.6 million square feet and adding $102 million of net new straight-line rent over the new weighted-average remaining lease term Since 2020, 82% of all acquisitions have been industrial or distribution properties office acquisitions for a total purchase price of $33.0 million at a weighted average cap rate 3 of 7.7% and with 13.6 years of weighted-average lease term remaining Portfolio 98.9% leased with 8.3 years of weighted average remaining lease term 1Ĭontractual annual rent increases in 95% 2 of leases that increase the cash rent that is due over time by an average cumulative increase of 1.2% per year, including but not limited to 61% that are fixed-rate increases and 26% that are based on Consumer Price IndexĬlosed two US industrial and one U.K. Net operating income ("NOI") grew to $87.4 million from $86.9 million in second quarter 2021Ĭore Funds from Operations ("Core FFO") grew 13.5% to $50.0 million or $0.48 per share compared to $44.0 million or $0.46 per share in second quarter 2021Īdjusted Funds from Operations ("AFFO") increased by $2.2 million to $45.0 million versus $42.8 million in the prior year quarterĪFFO per share was $0.43 compared to $0.44 per share in second quarter 2021ĭistributed $41.6 million, or $0.40 per share, in dividends to common shareholders Net loss attributable to common stockholders of $5.8 million compared to $2.4 million in prior year second quarter, or $(0.06) per share compared to $(0.14) per share Revenue was $95.2 million compared to $99.6 million in second quarter 2021 Second Quarter 2022 and Subsequent Events Highlights
Global Net Lease (PRNewsFoto/Global Net Lease, Inc.)
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