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Conversant Capital Exits GNL, Shifts to Senior Living REIT
Description
Conversant Capital, a major investor in Global Net Lease (GNL), sold off their entire stake, worth $35.8 million, despite GNLs stock climbing 16% over the past year. This move comes as Conversant Capital has been heavily investing in senior living REIT SNDA, suggesting a shift towards housing. GNL, meanwhile, has been trying to turn things around by reducing debt, increasing cash, and focusing on industrial and retail properties, but their revenue and earnings per share still dropped in the first quarter.
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