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Portfolio
Portfolio Overview
Portfolio Overview
Overview table
Overview
Amount
Properties
1,277
Mult-Tenant Retail
View
Square Feet (millions)
66.9
Leased
93%
Weighted Average Remaining Lease Term
(1)
6.5 years
% of SLR derived from Investment Grade Tenants
(2)
(3)
58%
% of leases with contractual rent increases
(4)
78%
Weighted average remaining lease term in years is based on square feet as of March 31, 2024.
As used herein, Investment Grade includes both actual investment grade ratings of the tenant or guarantor, if available, or implied investment grade. Implied investment grade may include actual ratings of tenant parent, guarantor parent (regardless of whether or not the parent has guaranteed the tenant's obligation under the lease) or by using a proprietary Moody's analytical tool, which generates an implied rating by measuring a company's probability of default. The term "parent" for these purposes includes any entity, including any governmental entity, owning more than 50% of the voting stock in a tenant. Multi-tenant portfolio includes credit ratings for tenants who occupy 10,000 square feet or more. Based on annualized SLR and as of March 31, 2024, GNL’s portfolio was 34.5% actual investment grade rated and 23.7% implied investment grade rated.
Calculated as of March 31, 2024, using annualized straight-line rent converted from local currency into USD as of March 31, 2024 for the in-place lease on the property on a straight-line basis, which includes tenant concessions such as free rent, as applicable.
The percentage of leases with rent increases is based on straight line rent as of March 31, 2024. Refer to SLR definition included in the footnotes on slide 9. Contractual cash base rent increases average 1.3% per year and include fixed percent or actual increases, or country CPI-indexed increases, which may include certain floors or caps on rental increases. As of March 31, 2024, and based on straight-line rent, approximately 59.9% are fixed-rate increases, 14.1% are based on the Consumer Price Index, 4.2% are based on other measures and 21.8% do not contain any escalation provisions.
Geographic Presence
1
Note: Portfolio metrics as of March 31, 2024.
Industry Diversity
1
Metric based on annualized SLR as of March 31, 2024. Calculated as of March 31, 2024, using annualized straight-line rent converted from local currency into USD as of March 31, 2024 for the in-place lease on the property on a straight-line basis, which includes tenant concessions such as free rent, as applicable.
Asset Type Diversification
1
Metric based on SLR. Weighted by annualized SLR converted from local currency into USD as of March 31, 2024 for the in-place lease on the property on a straight-line basis, which includes tenant concessions such as free rent, as applicable.