Market Opportunity

GNL is well-positioned to capitalize on incremental investment opportunities in the U.S. and Western Europe.

  • $6.9 trillion of owner-occupied real estate in the U.S. and Europe creates large scale net lease opportunities for GNL.
    • Target market opportunity in the U.S. and Europe is nearly 3x larger than the U.S. market alone.
    • Lack of dedicated net lease investors in Europe creates less competitive acquisition environment and opportunity to acquire high-quality assets at attractive yields.
    • The EU and the U.S. account for nearly 47% of the world’s GDP(1)
    • 142 Fortune 500 companies are located in Europe (11% more than the U.S.)(2)

$6.9 Trillion Global Net Lease Opportunity

Europe Real Estate Investment

Market Focus(4)

Strong Credit Investment

Historical Spread Between Cap Rates and 10-YR Government Bonds

Highest Cap Rate

Generally speaking, as the spread between ten-year government bonds and average cap rates widens, total achievable yield on real estate investments increases as does its attractiveness to investors. As the chart illustrates, current spreads in Germany, the U.S., the U.K. and France have widened.

  1. Eurostat - Tables, Graphs and Maps Interface (TGM) Table
  2. Fortune 500 - Global 2014
  3. CBRE for the year ending 12/31/2013.
  4. Standard’s & Poor’s Rating Agency as of 12/31/2015

Source: Bloomberg and Real Capital Analytics