Tenant Credit Risk: GNL's revenue relies heavily on the ability of its tenants to pay rent; a decline in their credit quality or financial health, including bankruptcies, could lead to lease defaults, reduced rental income, and property vacancies.

Interest Rate Volatility Risk: As a highly leveraged real estate investment trust, rising interest rates could increase GNL's borrowing costs, negatively impacting its net income, funds from operations (FFO), and ability to acquire new properties or refinance existing debt.

External Management Conflicts of Interest Risk: GNL is externally managed, and potential conflicts of interest may arise between the management company and GNL's shareholders regarding resource allocation, acquisition decisions, and compensation structures.