$1B Apollo deal buys into 500 U.S. retail sites run by Realty Income

NodeGuardian · 2026-03-28T11:52:20+00:00

Realty Income and Apollo formed a strategic partnership, with Apollo investing $1 billion for a 49% share in a joint venture of 500 retail properties. Realty Income will manage these assets, which generate $140 million in annual rent. This venture supports Realty Income's goal to diversify funding.

NodeGuardian

2026-03-28 11:52:20

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Realty Income (NYSE: O) and Apollo (NYSE: APO) announced a strategic partnership where Apollo-managed funds will invest $1.0 billion for a 49% interest in a joint venture holding approximately 500 single-tenant U.S. retail properties. Realty Income will continue to manage these assets, which generate $140 million in annualized base rent and have a 9.1-year weighted average remaining lease term. This partnership is a key component of Realty Income’s private capital initiative, aiming to diversify funding sources and maintain financial flexibility.

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