Global Net Lease, Inc. announced it has closed on six properties in the fourth quarter 2018, representing 1.3 million square feet for approximately $211.8 million. The six properties were purchased at a weighted average going-in capitalization rate1 of 6.67%, equating to a weighted-average GAAP capitalization rate2 of 7.23%, with a weighted-average remaining lease term3 of 11.3 years. GNL funded the transactions with mortgage debt and cash on hand, which includes proceeds from a public offering of GNL's common stock completed in November 2018 and proceeds from other borrowings. GNL acquired 23 buildings for over $478 million during 2018. The properties were acquired at a weighted average going-in capitalization rate of 7.21%, equating to a weighted-average GAAP capitalization rate of 7.70%, with a weighted-average remaining lease term of 11.6 years. The first of the six properties acquired during the fourth quarter is a newly constructed Class A distribution facility which measures 606,000 square feet and serves as a distribution and cold storage facility. The building is located in Romulus, Michigan and is leased to a national logistics provider for a lease term of ten years which includes annual rent escalators. The guarantor has a Moody's rating of "Baa2. The second property is an industrial building with light manufacturing, warehouse space, and office space. The tenant is a middle-market precision metalworking company which offers its clients a full range of services including process engineering, machining, fabrication, powder coating and assembly. The 65,000 square foot facility features seven dock doors and one drive-in door. The property is located in Massachusetts and is leased for 20 years with annual rent escalations of 1.5%. The guarantor has a Moody's implied credit rating4 of "B3. The third property is a 58,181 square foot distribution building leased to a leading domestic distributor of aftermarket automotive products including collision replacement products, paint products, bumper covers and alloy wheels. The property was built in 2010 and is located in Cullman County, Alabama. It is leased to a subsidiary of the lease guarantor for 12.2 years with a rent increase of 4% in 2026 to a subsidiary of the guarantor. The guarantor has a Moody's rating of "Ba2." The last property is a 113,000 square foot industrial facility. The tenant operates in the specialty coating industry with expertise in polyuria, polyurethane, epoxy, and cementitious technologies. The property will service as the tenant's manufacturing facility and corporate headquarters. The building is located in Kansas City, Kansas and is leased to a subsidiary of the guarantor. Upon closing, the tenant signed a new 20 year lease with rent escalators of 7.5% every 5 years. The guarantor of the lease has a Moody's implied rating of Ba1.