for everyone today’s you, us to on And again thanks call. Thank joining Louisa.
and unprecedented times start efforts and effects like our families and your express these discussion leading remain safe heroic for hope frontline of and healthcare the healthy colleagues workers, GNL’s would to quarterly I COVID-XX efforts heartfelt to who appreciation we results, the the that during Before pandemic. on are the address our our you, offer of the
by portfolio. resiliency We improving see strength our across encouraged the many situation and of signs are and
While our tenants, our remains our teams safety preserving the business long-term our health and and is priority of stockholders. focus and driving value for on partners,
results, potential Although the this any the best XXXX call portfolio. pandemic where to on our and quarter is discuss begin is place I will currently impact focused, on has first our everyone which is think COVID-XX had
cash pleased over XX, report XXXX, cash of are from of payable the payable XXX% collected that April XX% to were We during we’ve in tenants month, our rent portfolio. top-XX as of rents the the that including
emphasis our Further, on of we rent, a are this the collect contact quality, performance. look credit that with tenants to due is in Our portfolio’s difference and diligence continue making outstanding underwriting historic in the tremendous and balance. constitute we remaining X% to
GNL UK-based a our from from our cash from collected XXX% tenants payable other assets. and the basis, of geographic assets, our U.S.-based rent On European XX% XX%
we our underwritten. and rated investment-grade and full of will we economic mission-critical pandemic, this unknown to balance concentration cannot much still predict continue exposure high believe distribution is and there While perform retail limited industrial as the assets, of impact
disruptive We believe arise inevitably we crisis, such opportunities will on from emerge that event. to the from well widespread positioned this capitalize a
our this during manage steps flexibility financial As uncertain risk GNL and has to previously time. enhance disclosed, taken
ahead. for under availability positions $XXX.X the at of on liquidity facility a we these the future end sheet balance million totaled favorably quarter, borrowings credit cash months the our which of the for steps, our As company result or first and believe
credit facility crisis became the as scope apparent. of position enhance we March, to on cash In drew the our our
of rate the in change an beginning annualized or quarterly per in $X.XX the Additionally, the a quarter per approved second Board stock XXXX. share common share $X.XX to dividend
in was quarter quarter action as Our preservation environment per of that capital. we the prioritize believe strengthen flow per was AFFO We this share. $X.XX first and current over million cash will by prudent $XX GNL’s
on stockholder Board who interest their us strategy In portfolio stock of continues market of along consider plan to that believes the acquiring The our investment adopted well that and run. company. of rights to are April, to a discourage owning accumulation the properties committed be remain for to We properties in executing position actions the well-diversified recently operations. GNL’s these short-term leased other to trading. the open business critical the the plan, high-quality our with believe Board foundation through solid long tenants our We to a global best announced of long-term
North Given evolving our to spans be opportunities and capitalize Europe, macroeconomic from believe that capital on our platform markets estate and arise. we conditions, to they real select America well-positioned resources we as will
health While middle our innings resiliency and shown as thus impressive continue crisis, may move we be the portfolio its believe will to global ahead. demonstrate we still has of a far, strength in we
XX including average remaining term the of the X.X%. weighted an we XX.X discussed sale-leaseback Whirlpool Italy purchase a of completion We were price aggregate our on rate the U.S., years the lease and Canada and contract have properties at acquisitions Turning an call. in of acquired of acquired to quarter. now located last first cap for average The $XXX million,
and signed carrier also the Finnish for properties largest to Finland in leased government. and flag the extensions lease majority-owned We airline by X Finnair,
Including a flow term to weighted our X.X leased, is remaining average at were year a years average has and to of stability property lease extend XX from years, XX.X% further XXX X these term $X.X the to properties lease weighted able fully We closings, occupied nearly increased portfolio years, providing X.X remaining up from billion, GNL. the ago. on years and cash
and embedded UK Western XXXX respectively. the U.S. and XX% properties expirations Europe, XXX and of XX lease representing are in XX% XX% rent We are rent annualized contractual our is have leases. and revenue, of and no growth in in the Canada, of
XX% acquisitions year of retail reflection retail industrial and and X% our XX% X% as success We XX.X% industrial emphasis top the is reduction the exposure dispositions our our straight-line retail rent industrial focus focus distribution, on over and on our property to from of has tenants. a currently portfolio, this or environment, office, Our last of XX% current acquisitions our the credit. in office, ago, and the including aided industrial to and XX% compared that investment-grade retail tenants, year. has on XX believe XX% distribution, and mix a tenant of comes implied investment-grade Across
uncertain rates stance as opportunities are we prudent potential we during acquisition time. adopting this with forward, a Going historical reevaluate cap
adjusted carefully risk for potential the new all determining cap we’ll rate our appropriate that and meet targets going acquisitions criteria. are assets revised forward, We ensure
Net pleased quarter year-over-year total to tenants increases, look at and XXXX, the in was and X.X% from revenue $XX.X Adjusted increased EBITDA in million. operating from also to previous the a first $XX.X million we EBITDA financial X% adjusted and XXXX, income $XX.X and to $XX revenue million Taking million X.X% from up the are first quarter. to NOI. million increased report quarter highlights, in $XX.X
share were AFFO quarter quarter to which fourth this of due this our a B per decreased was shares, on fourth fund issued used per of flat to the which year. in of preferred were primarily AFFO proceeds the to share $X.XX year-over-year the over On Series the quarter dividends largely share, help first was preferred but XXXX. acquisitions per basis, during
to turn that, the walk With in I’ll more closing up the before Chris results some detail to call with operating over follow through Chris? I remarks.
