Blackwells Capital Gives Rationale for GNL-RTL Merger
Alternative investment manager Blackwells Capital LLC, a shareholder of both Global Net Lease Inc. (NYSE: GNL) and The Necessity Retail REIT Inc. (NASDAQ: RTL), gave its rationale for supporting a proposed merger of the two.
The combination will result in a pro forma entity with nearly $10 billion in real estate assets, making GNL one of the largest publicly traded net lease REITs, Blackwells said in a statement.
Blackwells said it expects that the increased scale, diversity and efficiency, combined with internalization of management and impressive governance enhancements, will position the company to create immediate and long-term value for all shareholders.