Inactive Instrument

The Necessity Retail REIT, Inc.

RTL

US02607T1097

The Necessity Retail REIT, Inc. Completes Commercial Mortgage-Backed Security Loan

August 31, 2023 at 06:00 am EDT

The Necessity Retail REIT, Inc. announced that, through its subsidiaries, the Company completed a $260 million commercial mortgage-backed security loan (the "Loan") encumbered by 29 multi-tenant properties the Company owns across the United States. The Loan has a 10-year term and is interest-only at 6.45%. The company was able to achieve this rate even though today's rates are higher, by using a SOFR swap lock of 3.54% which it proactively put in place approximately one month before completing this loan.

Proceeds from the Loan will be used to paydown the Company's credit facility ahead of the proposed merger with Global Net Lease, Inc.

Latest news about The Necessity Retail REIT, Inc.

Global Net Lease, Necessity Retail REIT Complete Merger	23-09-12	MT
The Necessity Retail REIT, Inc.(NasdaqGS:RTL) dropped from NASDAQ Composite Index	23-09-12	CI
The Necessity Retail REIT, Inc.(NasdaqGS:RTL) dropped from S&P TMI Index	23-09-12	CI
The Necessity Retail REIT, Inc.(NasdaqGS:RTL) dropped from S&P Global BMI Index	23-09-12	CI
Global Net Lease, Inc. completed the acquisition of The Necessity Retail REIT, Inc. from The Vanguard Group, Inc., BlackRock, Inc., State Street Corporation and others.	23-09-11	CI
Global Net Lease, Necessity Retail REIT Get Shareholder Nod for Merger	23-09-08	MT
Global Net Lease shareholders approve deal with Necessity Retail	23-09-08	RE
Transcript : Global Net Lease, Inc., The Necessity Retail REIT, Inc. - M&A Call	23-09-05
Global Net Lease Secures $500 Million Expansion to its Credit Facility	23-09-01	MT
The Necessity Retail REIT, Inc. Completes Commercial Mortgage-Backed Security Loan	23-08-31	CI
B. Riley Raises Necessity Retail REIT's PT to $10 From $8, Revisits Proposes Merger With Global Net Lease, Keeps Buy Rating	23-08-16	MT
Transcript : The Necessity Retail REIT, Inc., Q2 2023 Earnings Call, Aug 03, 2023	23-08-03
Earnings Flash (RTL) GLOBAL NET LEASE Posts Q2 Revenue $95.8M	23-08-03	MT
Earnings Flash (GNL) THE NECESSITY RETAIL REIT Reports Q2 Revenue From Tenants $106.7M	23-08-02	MT
The Necessity Retail REIT, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2023	23-08-02	CI
An unknown buyer acquired Portfolio of 44 Properties of The Necessity Retail REIT, Inc. for $93 million.	23-07-04	CI
Necessity Retail REIT Maintains Dividend at $0.2125 per Share; Payable on July 17 to Shareholders of Record on July 13	23-07-03	MT
Necessity Retail REIT Says 'Go-Shop' Period for Global Net Lease Merger Expired	23-06-23	MT
The Necessity Retail REIT, Inc.(NasdaqGS:RTL) dropped from Russell 2000 Value-Defensive Index	23-06-23	CI
The Necessity Retail REIT, Inc.(NasdaqGS:RTL) dropped from Russell 2000 Defensive Index	23-06-23	CI
The Necessity Retail REIT, Inc Provides Information to Shareholders	23-06-06	CI
The Necessity Retail REIT Inc Enters into Cooperation Agreement with Blackwells Capital	23-06-05	CI
Blackwells Capital Provides Information to Shareholders of The Necessity Retail REIT	23-05-24	CI
Global Net Lease to Acquire The Necessity Retail REIT in All-stock Merger Deal	23-05-24	MT
Transcript : Global Net Lease, Inc., The Necessity Retail REIT, Inc. - M&A Call	23-05-24

Chart The Necessity Retail REIT, Inc.

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Company Profile

The Necessity Retail REIT, Inc. is a real estate investment trust (REIT). The Company is focused on acquiring and managing a diversified portfolio of primarily service-oriented and traditional retail and distribution-related commercial real estate properties located primarily in the United States. It operates through two business segments: single-tenant properties and multi-tenant properties. Its assets consist primarily of freestanding single-tenant properties and other creditworthy tenants, and a portfolio of multi-tenant retail properties consisting primarily of power centers and lifestyle centers. The Company's business is conducted through the Necessity Retail REIT Operating Partnership, L.P., and its wholly owned subsidiaries. The Company owned 1,044 properties, comprised of 27.9 million rentable square feet, including 935 single-tenant net-leased commercial properties (897 of which are retail properties) and 109 multi-tenant retail properties.

Sector

Commercial REITs

Calendar

2024-05-07 - Q1 2024 Earnings Release (Projected)

More about the company

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