While COVID-19 has had a negative impact on many businessesglobally, the chief executive officer of New York City-based GlobalNet Lease said his company—which owns 288 properties in the UnitedStates, Canada and in Europe—is thriving.

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"We are operating well and have been functioning well duringCOVID-19," CEO James Nelson tells GlobeSt.com."Our teams are working from home and managing the company. They aredoing this and refinancing and acquiring properties. It's businessas usual, despite COVID-19."

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Among its latest achievements: it closed on a multi-propertyrefinancing for $76.4 million of seven properties throughoutFrance. The company entered into a loan agreement with HSBC France.The maturity date of the loan is May 14, 2025.

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"We started 18 months ago  to refinance all of ourproperties in Europe," Nelson said. "We completed the UnitedKingdom financing and German financing and Finnish financing andFrance was the last one."

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The largest of the French companies, Sagemcom, is located on theoutskirts of Paris, Nelson said. The company specializes intechnology.

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"This gives us a stable base of financing," Nelson said. "Whatwe did is really invisible to our tenants, but what it shows isthat we are able to execute on financing with our banks at veryattractive rates which benefits our shareholders in the long run.We have tens of thousands of investors, including retail investorsand institutional investors."

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Despite the global pandemic, Nelson said, "We are very pleasedto report that, as of April 30, we collected on 98% of the rentspayable during the month."

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When looking at purchasing properties today, Nelson saidthat—because of COVID-19—"you might go back to 2008 and see howthey performed during that financial crisis It wasn't just anAmerican recession, it was a global recession."

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Nelson said the company's portfolio is comprised of"high-quality tenants with long-term leases."

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Related stories:

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Global Real Estate Investment Has BeenAnother Victim of COVID-19 Pandemic

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What a Phased-In Reopening Will LookLike

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After COVID Dip, Potential Tenants Re-StartOffice Space Searches

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Robert Storace

Robert Storace covers legal trends, lawsuits and analysis for the Connecticut Law Tribune. Follow him on Twitter @RobertSCTLaw or reach him at 203-437-5950.