Global Net Lease Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
GNL$6.85-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets as of December 31, 202 and
(In thousands, except share and per share data)
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| ASSETS | ||
| Real estate investments, at cost (Note 4): | ||
| Land | $1,172,146 | $1,430,607 |
| Buildings, fixtures and improvements | 5,293,468 | 5,842,314 |
| Construction in progress | 4,350 | 23,242 |
| Acquired intangible lease assets | 1,057,967 | 1,359,981 |
| Total real estate investments, at cost | 7,527,931 | 8,656,144 |
| Less accumulated depreciation and amortization | (1,164,629) | (1,083,824) |
| Total real estate investments, net | 6,363,302 | 7,572,320 |
| Assets held for sale | 17,406 | 3,188 |
| Cash and cash equivalents | 159,698 | 121,566 |
| Restricted cash | 64,510 | 40,833 |
| Derivative assets, at fair value (Note 9) | 2,471 | 10,615 |
| Unbilled straight-line rent | 99,501 | 84,254 |
| Operating lease right-of-use asset (Note 11) | 74,270 | 77,008 |
| Prepaid expenses and other assets | 108,562 | 121,997 |
| Deferred tax assets | 4,866 | 4,808 |
| Goodwill | 51,370 | 46,976 |
| Deferred financing costs, net | 9,808 | 15,412 |
| Total Assets | $6,955,764 | $8,098,977 |
| LIABILITIES AND EQUITY | ||
| Mortgage notes payable, net (Note 5) | $2,221,706 | $2,517,868 |
| Revolving credit facility (Note 6) | 1,390,292 | 1,744,182 |
| Senior notes, net (Note 7) | 906,101 | 886,045 |
| Acquired intangible lease liabilities, net | 76,800 | 95,810 |
| Derivative liabilities, at fair value (Note 9) | 3,719 | 5,145 |
| Accounts payable and accrued expenses | 75,735 | 99,014 |
| Operating lease liability (Note 11) | 48,333 | 48,369 |
| Prepaid rent | 28,734 | 46,213 |
| Deferred tax liability | 5,477 | 6,009 |
| Dividends payable | 11,909 | 11,173 |
| Total Liabilities | 4,768,806 | 5,459,828 |
| Commitments and contingencies (Note 11) | — | — |
| Stockholders’ Equity (Note 10): | ||
| 7.25% Series A cumulative redeemable preferred stock, $0.01 par value, liquidation preference $25.00 per share, 9,959,650 shares authorized, 6,799,467 shares issued and outstanding as of December 31, 2024 and 2023 | 68 | 68 |
| 6.875% Series B cumulative redeemable perpetual preferred stock, $0.01 par value, liquidation preference $25.00 per share, 11,450,000 shares authorized, 4,695,887 shares issued and outstanding as of December 31, 2024 and 2023 | 47 | 47 |
| 7.500% Series D cumulative redeemable perpetual preferred stock, $0.01 par value, liquidation preference $25.00 per share, 7,933,711 shares authorized, issued and outstanding as of December 31, 2024 and 2023 | 79 | 79 |
| 7.375% Series E cumulative redeemable perpetual preferred stock, $0.01 par value, liquidation preference $25.00 per share, 4,595,175 shares authorized, issued and outstanding as of December 31, 2024 and 2023 | 46 | 46 |
| Common stock, $0.01 par value, 250,000,000 shares authorized, 231,051,139 and 230,885,197 shares issued and outstanding as of December 31, 2024 and 2023, respectively | 3,640 | 3,639 |
| Additional paid-in capital | 4,359,264 | 4,350,112 |
| Accumulated other comprehensive loss income | (25,844) | (14,096) |
| Accumulated deficit | (2,150,342) | (1,702,143) |
| Total Stockholders’ Equity | 2,186,958 | 2,637,752 |
| Non-controlling interest | — | 1,397 |
| Total Equity | 2,186,958 | 2,639,149 |
| Total Liabilities and Equity | $6,955,764 | $8,098,977 |
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