Good morning and welcome to the Global Net Lease Third Quarter Earnings Conference Call. [Operator Instructions] I would now like to turn the conference over to Louisa Quarto Executive Vice President. Please go ahead ma'am.
Thank you operator. Good morning everyone and thank you for joining us for GNL's Third Quarter 2019 Earnings Call. This call is being webcast in the Investor Relations section of GNL's website at www.globalnetlease.com. Joining me today on the call to discuss the quarter's results are Jim Nelson Chief Executive Officer; and Chris Masterson Chief Financial Officer. 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.
Any forward-looking statements or portfolio information provided during this conference call are only made as of the date of the 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.
I'll now turn the call over to our CEO Jim Nelson.
James L. Nelson
Thanks Louisa and good morning everyone. Thank you all for joining us on today's call and a special welcome to D.A. Davidson and Aegis Capital who initiated coverage of GNL last month increasing our coverage to 5 analysts. We are pleased to report another quarter of year-over-year increases in rental revenue cash NOI adjusted EBITDA and AFFO. We had an extremely active quarter, including 102 million of primarily industrial and office acquisitions, which, combined with another significant retail disposition, progressed our strategic goals to increase our portfolio allocation to industrial properties and decrease our retail exposure. We saw a year over year decrease in our net debt to EBITDA ratio. And we also signed an agreement with a fortune top 150 tenant to buy a domestic and international portfolio properties for a total of approximately 182 million before the end of the year. In total, we have 373 million of acquisitions in our pipeline, which brings our total pipeline plus year to date acquisitions to 697 million. Finally, we improved our financial flexibility and ability to execute on acquisition opportunities as we expanded Credit facility to 1.2 billion
Executive Vice President
James L. Nelson
Chief Executive Officer and President
Chief Financial Officer, Treasurer and Secretary
Senior Vice President, Investments
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