No. of Recommendations: 3
Realty Income Corporation (O), the Monthly Dividend Company®, today announced that the company has signed a definitive agreement to acquire, from a joint venture of affiliates of J Sainsbury PLC (JSAIY) ("Sainsbury's") and British Land PLC, 12 properties located in the United Kingdom ("UK") for £429 million under long-term net lease agreements with Sainsbury's. The transaction is Realty Income's first international real estate acquisition.

"We are excited to announce this strategic transaction, which supplements our robust domestic investment pipeline and represents a natural evolution of the company's strategy," said Sumit Roy, President and Chief Executive Officer. "We believe that the size of the European net lease market and a need for a large-scale, well-capitalized institutional real estate partner creates a very propitious environment for us to increase our addressable market. Our company is ideally positioned to pursue these additional growth avenues in Europe given our position as the leader in the net lease industry, sector-leading cost of capital, and ability to complete large-scale sale-leaseback transactions without creating tenant or industry concentration issues."


Read on:

https://seekingalpha.com/pr/17483450-realty-income-announces...

And here is Reitster Brad Thomas' take on the news:

https://www.forbes.com/sites/bradthomas/2019/04/23/the-month...

David
Long O
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