<SEC-DOCUMENT>0001144204-19-038245.txt : 20190807
<SEC-HEADER>0001144204-19-038245.hdr.sgml : 20190807
<ACCEPTANCE-DATETIME>20190807172519
ACCESSION NUMBER:		0001144204-19-038245
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190807
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190807
DATE AS OF CHANGE:		20190807

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Global Net Lease, Inc.
		CENTRAL INDEX KEY:			0001526113
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				452771978
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37390
		FILM NUMBER:		191006521

	BUSINESS ADDRESS:	
		STREET 1:		405 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-415-6500

	MAIL ADDRESS:	
		STREET 1:		405 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	American Realty Capital Global Trust, Inc.
		DATE OF NAME CHANGE:	20120810

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	American Realty Capital Global Daily Net Asset Value Trust, Inc.
		DATE OF NAME CHANGE:	20111014

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	American Realty Capital Global Trust, Inc.
		DATE OF NAME CHANGE:	20110719
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tv527014_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WASHINGTON, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PURSUANT TO SECTION 13 OR 15(d) OF THE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
<B>&nbsp;August 7, 2019</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Global Net Lease, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Maryland</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>001-37390</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>45-2771978</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4pt 0pt 0; text-align: center">(State or other jurisdiction</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4pt 0pt 0; text-align: center">of incorporation)</P></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4pt 0pt 0; text-align: center">(I.R.S. Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4pt 0pt 0; text-align: center">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 100%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>405 Park Avenue, 3<SUP>rd</SUP> Floor<BR>
New York, New York 10022</B></FONT></TD></TR>
<TR>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4pt 0pt 0; text-align: center">(Address, including zip code, of
        Principal Executive Offices)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4pt 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4pt 0pt 0; text-align: center"><B>Registrant&rsquo;s telephone
        number, including area code: (212) 415-6500</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 0.8pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 95%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD COLSPAN="5"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities registered pursuant to section 12(b) of the Act:</FONT></TD></TR>
<TR>
    <TD COLSPAN="5">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title of each class</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trading Symbols</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: Black 1pt solid; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name of each exchange on which registered</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common Stock, $0.01 par value</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">GNL</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York Stock Exchange</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.25% Series A Cumulative Redeemable Preferred Stock, $0.01 par value</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">GNL PR A</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York Stock Exchange</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 32.3pt 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; color: #231F20; text-align: justify">Indicate by check mark whether the
registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or
Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><FONT STYLE="font-family: Times New Roman, Times, Serif">Emerging
growth company </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; color: #231F20; text-align: justify">If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;&nbsp; <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 32.3pt 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 32.3pt 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 32.3pt 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 7.01. Regulation FD Disclosure.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Earnings Call Script</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 7, 2019, Global Net Lease, Inc.
(the &ldquo;Company&rdquo;) hosted a conference call to discuss its financial and operating results for the quarter ended June
30, 2019. A transcript of the pre-recorded portion of the conference call is furnished as Exhibit&nbsp;99.1 to this Current Report
on Form 8-K. As previously disclosed, a replay of the entire conference call is available through November 7, 2019 by telephone
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Domestic Dial-In (Toll Free): 1-877-344-7529</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">International Dial-In: 1-412-317-0088</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Canada Dial-In (Toll Free): 1-855-669-9658</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Conference Number: 10133639</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information set forth in Item 7.01
of this Current Report on Form 8-K and in the attached Exhibit 99.1 is deemed to be &ldquo;furnished&rdquo; and shall not be deemed
to be &ldquo;filed&rdquo; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;),
or otherwise subject to the liabilities of that Section. The information set forth in Item 7.01 of this Current Report on Form
8-K, including Exhibit 99.1, shall not be deemed incorporated by reference into any filing under the Exchange Act or the Securities
Act of 1933, as amended, regardless of any general incorporation language in such filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The statements in this Current Report on
Form 8-K include statements regarding the intent, belief or current expectations of the Company and members of its management team,
as well as the assumptions on which such statements are based, and generally are identified by the use of words such as &ldquo;may,&rdquo;
&ldquo;will,&rdquo; &ldquo;seeks,&rdquo; &ldquo;strives,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;believes,&rdquo; &ldquo;estimates,&rdquo;
&ldquo;expects,&rdquo; &ldquo;plans,&rdquo; &ldquo;intends,&rdquo; &ldquo;should&rdquo; or similar expressions. Actual results
may differ materially from those contemplated by such forward-looking statements, including as a result of those factors set forth
in the Risk Factors section of the Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2018 filed on February
28, 2019 and all other filings with the Securities and Exchange Commission after that date. Forward-looking statements speak only
as of the date they are made, and the Company undertakes no obligation to update or revise forward-looking statements to reflect
changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, or revise forward-looking
unless required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 9.01. Financial Statements and
Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>(d) Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit No</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><A HREF="tv527014_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tv527014_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transcript</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 261pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="3" STYLE="padding-right: 0.8pt"><B>Global Net Lease, Inc.</B></TD>
    <TD STYLE="padding-right: 0.8pt"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: August 7, 2019</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 1.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ James L. Nelson&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James L. Nelson</FONT></TD>
    <TD STYLE="width: 11%; padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Chief Executive Officer and President</I></FONT></TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Global Net Lease, Inc. (NYSE:GNL) Q2
2019 Earning Conference Call</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Executives</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">James Nelson &ndash; CEO &amp; President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chris Masterson &ndash; CFO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Louisa Quarto &ndash; Executive Vice President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Operator</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Good morning and welcome to the Global
Net Lease Second Quarter Earnings Call. [Operator Instructions]. I would now like to turn the conference over to Louisa Quarto,
Executive Vice President. Please go ahead.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Louisa Quarto</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Thank you, operator. Good morning everyone
and thank you for joining us for GNL's second quarter 2019 Earnings Call. This call is being webcast in the Investor Relations
section of GNL's website at www.globalnetlease.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Joining me today on the call to discuss
the quarter&rsquo;s results are Jim Nelson, Chief Executive Officer and Chris Masterson, Chief Financial Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following information contains forward-looking
statements, which are subject to risks and uncertainties. Should one or more of these risks or uncertainties materialize, actual
results may differ materially from those expressed or implied by the forward-looking statements. We refer all of you to our SEC
filings including the Annual Report on Form 10-K for the year ended December 31, 2018 filed on February 28, 2019 and all other
filings with the SEC after that date for a more detailed discussion of the risk factors that could cause these differences.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any forward-looking statements or portfolio
information provided during this conference call are only made as of the date of this call. As stated in our SEC filings, GNL disclaims
any intent or obligation to update or revise these forward-looking statements or portfolio information except as required by law.
During today's call, we will discuss non-GAAP financial measures, which we believe can be useful in evaluating the company's financial
performance. These measures should not be considered in isolation or as a substitute for our financial results prepared in accordance
with GAAP. A reconciliation of GAAP net income to the non-GAAP measures can be found in our earnings release, supplement and Form
10-Q, all of which are posted to our website at www.globalnetlease.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I will now turn the call over to our CEO,
Jim Nelson.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>James Nelson</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Thanks, Louisa, and good morning everyone.
Thank you all for joining us on today's call.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are pleased to report another quarter
of increases in rental revenue, adjusted EBITDA, and AFFO. We had a very active quarter including $187 million of primarily industrial,
distribution and office acquisitions which, combined with our retail disposition, increased our portfolio allocation to the industrial
and distribution properties and decreased our retail exposure. We also refinanced much of our European debt at more advantageous
rates extending the weighted-average maturity of our debt from 3.3 years to 4.6 years in the last 12 months, and, subsequent to
the quarter end, successfully completed an expansion of our primary credit facility to over $1.2 billion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total revenue for the second quarter was
$76.1 million, up 7.3% from $71.0 million in prior year quarter. AFFO also increased to $40.1 million from $35.5 million in the
second quarter of 2018 and up from $39.5 million in the prior quarter on the strength of our recent acquisitions. On a per share
basis AFFO was $0.47. Our second quarter 2019 saw the majority of the $187 million of acquisitions close in the back end of the
quarter, thus they only contributed about $1 million of the $3.2 million estimated full quarter rents to our second quarter revenue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Overall, our 288 property portfolio is
nearly fully occupied at 99.6% leased, 220 of which are located in the U.S. and 68 are in the U.K. and Western Europe, representing
58% and 42% of annualized rental revenue, respectively. Our investment grade or implied investment grade tenants make up over 72%
of the portfolio. Please refer to our earnings release for more information about what we consider to be implied investment grade
tenants. Our property mix is currently 53% office, 41% industrial and distribution and 6% retail. The portfolio has a weighted
average remaining lease term of 8.0 years with no near-term expirations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the quarter we acquired nine net
leased assets comprising about 1.6 million square feet for a contract sales price of approximately $187 million. These assets are
leased at an attractive weighted average capitalization rate of 7.67%, with a weighted average remaining lease term of 11.1 years.
These acquisitions included five industrial properties, three distribution facilities and an office building and are all located
in the United States. We are very pleased to be acquiring long-term leases at what we believe are favorable cap rates and believe
that these assets improve the mix of assets in our portfolio. I'd like to take a minute to review some of the highlights from these
acquisitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The office property we acquired during
the quarter is a 200,000 square foot headquarters office property located in Birmingham, AL which is leased to Encompass Health,
one of the United States' largest providers of post-acute healthcare services, in 36 states and Puerto Rico through its network.
The tenant has a Ba3 credit rating and the lease continues for 14.5 years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We acquired distribution facilities leased
to ComDoc, Heatcraft and Hanes/Leggett &amp; Platt totaling approximately 600,000 square feet for a total contract sales price
of just over $39 million. ComDoc is owned by Xerox and is a leading distributor of copying and printing equipment. Heatcraft is
a leader in the world of commercial refrigeration, providing climate-control solutions to customers in more than 70 countries.
They produce evaporators, condensers, merchandise display cases and other top-quality refrigeration products under six market-leading
brands. Hanes Companies, Inc., a division of Leggett &amp; Platt, is a diverse supplier, converter, and distributor of a variety
of products and services in multiple markets across North America and Europe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The industrial properties we acquired are
leased to Union Partners, the Sierra Nevada corporation, EQT Corporation and Metal Technologies. Union Partners is a Chicago based
strategic operator of metals and logistics companies. Sierra Nevada Corporation creates technology solutions for aerospace and
aviation uses and is one of America's fastest growing companies. EQT Corporation is engaged in hydrocarbon exploration and pipeline
transport. Finally, Metal Technologies is a premier&nbsp;metal&nbsp;casting company. These industrial assets total approximately
800,000 square feet and were acquired for a total contract sales price of $73.6 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Consistent with our over-arching strategy,
each of these assets serve a critical function for the underlying tenants and are subject to long-term leases. Our acquisitions
in the quarter increased annualized straight-line rent allocable to the Industrial/Distribution segment of our portfolio by 6%
over last year, reducing our retail and office concentrations by 3% each. We funded the transactions with our revolving credit
facility, mortgage debt and net proceeds from our ATM programs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, we continue to look for opportunities
to recycle capital. During the quarter, we sold 64 properties including a portfolio of 62 Family Dollar retail stores which were
sold for a gain at a 7.25% cap rate, reducing GNL's retail concentration. Prior to the sale, we owned 94 Family Dollar Stores,
including five dark stores where rent payments were still being made. Management, along with the board of directors, determined
that reducing GNL's current exposure to Family Dollar would be best for the portfolio based on recent announcements from Family
Dollar's parent company Dollar Tree. We continue to demonstrate our ability to originate and acquire strategic assets at attractive
cap rates and are confident we will continue to redeploy proceeds into attractive transactions. We believe selling the Family Dollar
assets enhances our portfolio and continues to demonstrate our discipline and asset management strength as a company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As we continue to grow and refine our asset
mix, we are focused on acquiring primarily industrial, distribution and some select office properties while limiting our ownership
of retail properties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">While Chris will provide more detail, I'll
provide a quick update on our continuing ability to refinance GNL's European debt at attractive rates. During the quarter, we completed
a &euro;51.5 million refinancing of five of our German assets. We also borrowed &euro;120 million secured by mortgages on three
properties in the Netherlands and Luxembourg that bears interest at a fixed rate of 1.38% and matures in 2024. The rate on the
previous loan was 1.58%. In addition to decreasing the interest rate of the loans, the newly negotiated terms extended the maturity
of the debt to the second quarter of 2023 in Germany and 2024 in Benelux.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also completed an expansion of our credit
facility with Key Bank subsequent to quarter end to add an additional $300+ million of commitments at lower interest rates. Simultaneously,
we extended the expiration of the revolving portion of the facility to 2023 with the option to extend to 2024. We are pleased with
the expansion as we leveraged favorable timing to extend the maturity of our existing facility. We will continue to pursue objectives
such as this one that support the growth of GNL's portfolio and provide opportunities to capitalize on any opportunities we see
to make substantive and accretive acquisitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With that, I'll turn the call over to Chris
to walk through the operating results and our balance sheet in more detail and then I will follow up with some closing remarks.
Chris?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Chris Masterson</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Thanks, Jim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Second quarter revenue was $76.1 million,
up 0.9% over the first quarter 2019 figure and FFO was $36.8 million, up 1.6% over the first quarter. Moving on, core FFO grew
5.3% over the first quarter to $38.4 million, and AFFO was $40.1 million, up 1.4% over the prior quarter. AFFO per share was down
slightly quarter over quarter due to an increase in the weighted average number of shares outstanding in the quarter. During the
quarter, we paid common stock dividends of $14.9 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On our balance sheet, we ended the second
quarter with net debt, which is debt less cash and cash equivalents, of $1.7 billion at a weighted-average interest rate of 3.0%
per annum. Our weighted-average debt maturity has lengthened to 4.6 years at the end of the second quarter, an improvement from
3.3 years at the close of 2018 second quarter. This includes $181 million of debt that matures in 2019 which we are actively addressing,
the results of which will be announced in future filings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The components of our debt include $259.5
million on the multi-currency revolving credit facility, $280.3 million on the term loan and $1.3 billion of outstanding gross
mortgage debt. This debt was approximately 84.6% fixed rate, which is inclusive of floating rate debt with in-place interest rate
swaps, an improvement over the quarter ended March 31, 2019 where 83.7% was fixed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our net debt to annualized adjusted EBITDA
improved to 7.1x from 7.4x last year, with a strong interest coverage ratio of 4.1x.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June 30, 2019, liquidity was approximately
$269.4 million which comprises $178.7 million of cash on hand and $90.7 million of availability under the revolving credit facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">GNL's net debt to enterprise value was
48.0%, with an enterprise value of $3.5 billion based on the June 28, 2019 closing share price of $19.62 for common shares and
$25.50 for Series A preferred shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Let me now turn to the European side of
our capital structure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In May we entered into a loan agreement
with Landesbank HessenTh&uuml;ringen Girozentrale and borrowed &euro;51.5 million secured by mortgages on five properties in Germany.
The loan will be interest-only with the principal due at maturity, which will be June 30, 2023. The maturity date may be extended
at the Company&rsquo;s option to February 29, 2024 subject to conditions. The loan initially bore interest at a rate of 3-month
Euribor plus 1.80% per annum, but, following the replacement of an easement on one property, the loan will bear interest going
forward at a rate of Euribor plus 1.55% per annum beginning on October 1, 2019. We also entered into a swap to fix the interest
rate for 80% of the principal amount. The net proceeds from the loan were used to repay all &euro;35.6 million outstanding in mortgage
indebtedness that previously encumbered three of the properties that secured the loan. The repaid mortgage indebtedness bore interest
at a weighted average rate of 1.62%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June we entered into a loan agreement
with Landesbank HessenTh&uuml;ringen Girozentrale and borrowed &euro;120.0 million secured by mortgages on three properties in
the Netherlands and Luxembourg. The loan bears interest at a fixed rate of 1.38% and matures on June 11, 2024. The loan is interest
only, with the principal due at maturity. At the closing of the loan, approximately &euro;80.3 million was used to repay all outstanding
indebtedness encumbering two of the properties. The repaid mortgage indebtedness bore interest at a weighted average rate of 1.58%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As Jim previously discussed, last week
we completed the recast of our corporate credit facility with KeyBank. The recast facility has received commitments of $1.2 billion,
a $318 million increase from the prior $917 million facility. There are two components to the facility: a revolver with a four-year
term plus two extension options of six months each for a total of five years and a five-year term loan. The pricing for the revolver
is 15 bps lower than the prior facility and the pricing for the term loan is 20 bps lower than the prior facility. The actual interest
rate is a sliding scale based on the amount of leverage deployed. We are very pleased with the extended timeline and lower interest
rate of this facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Finally, with respect to the dividend,
we paid dividends equating to $0.5325 per common share for the quarter. As announced on April 8<SUP>th</SUP>, we modified our dividend
policy to more closely align with our peers and started paying a quarterly dividend at the end of the second quarter. We did not
change the rate at which we pay dividends which is still an annualized rate of $2.13 per share on the common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With that, I'll turn the call back to Jim
for some closing remarks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>James Nelson</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Thanks, Chris.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We had an excellent quarter from a real
estate perspective and we believe we have put the pieces in place to record a strong second half of the year. The portfolio and
the rental income generated by the portfolio continue to grow. We are well positioned with available capital to close on our $149
million pipeline of acquisitions of long-term leased, primarily industrial assets. Selling the Family Dollar portfolio illustrates
our disciplined asset management strategy and provides the opportunity to use the net proceeds to improve our asset mix. We anticipate
growth in the portfolio when the proceeds from our second quarter dispositions are fully redeployed and will continue to be a net
acquirer of high-quality, long-term net leased office, distribution and industrial assets. Finally, as we have discussed, our ability
to negotiate favorable financings in local markets and at the corporate level meaningfully contributes to our bottom line.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With that, operator, we can open the line
for questions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Question-and-Answer Session</B></P>



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