Public, non-traded REIT American Realty Capital Global Trust, Inc. (Global Trust) announced today it plans to list on the New York Stock Exchange (NYSE) during the second quarter of 2015. Global Trust intends to file an application with the NYSE to list under the symbol “GNL” and concurrent with the listing, change its name to Global Net Lease, Inc.
The REIT completed its initial public offering in June 2014 raising $1.7 billion and since has deployed all available capital to acquire a portfolio with an aggregate cost of about $2.4 billion as of December 31, 2014.
Barclays and RCS Capital advised Global Trust on the matter and as a result, its Board of Directors determined a listing is in the best interest of the REIT and its shareholders.
“The decision to seek a liquidity event by listing on the NYSE marks an exciting milestone for the Company and its stockholders. Since its inception, the Company has successfully acquired 295 properties aggregating approximately 16 million square feet across the U.S. and Europe consistent with its corporate sale-leaseback strategy. The Company remains strategically positioned to continue its growth, and our U.S. and European management teams look forward to utilizing their expertise to capitalize on further property investments and seek to enhance long-term value for our stockholders,” commented Scott Bowman, Chief Executive Officer of Global Trust.
As of December 31, 2014, the REIT’s assets are at 100% occupancy with a remaining average lease term of 11.2 years. About 60 percent of its assets are in the U.S. and the remaining 40 percent are in four European countries; the UK at 23%, Germany at 11%, Finland at 3%, and The Netherlands at 3%.