Two Nationwide REITs To Combine in $4 Billion Deal

Global Net Lease and The Necessity Retail REIT, two publicly traded real estate investment trusts focused on properties where tenants pay taxes, insurance and maintenance, agreed to combine in an all-stock transaction valued at $4 billion.

The deal creates a powerhouse in the market for net-lease arrangements that can be popular with some investors because they provide steady income from tenants, typically retailers, picking up more costs and reducing the risk of ownership for landlords. Global Net Lease said the combined company will be the third-largest publicly traded REIT behind Realty Income and W.P. Carey.

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