Global Net Lease Sells Gas Station and Car Wash Assets for Tax Benefits
GNL Global Net Lease Inc
$6.58 -1.64%
View chart & analysis → - 1The sale of 15 Global Net Lease gas station, convenience store, and car wash assets for approximately $70 million recorded a 6.5% cash return rate.
- 2The Boulder Group's average single-tenant net lease cap rate of 6.92% in Q3 includes a 10 bps increase in The Boulder Group's cap rate during Q3.
- 3CEO Michael Weil stated that bonus depreciation demand contributed to maintaining prices.
So what's the key point?
Global Net Lease sold 15 buildings, such as gas stations and car washes, for approximately $70 million. The company returned the money from the asset sales to investors to increase returns.
Source CRE Daily · View original ↗
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