Realty Income Corp. and Apollo have announced that Apollo-managed funds and affiliates intend to provide a $1 billion investment to Realty Income to acquire a 49 percent interest in a new joint venture entity that is expected to own a diversified portfolio of single-tenant retail properties subject to long-term net leases. Realty Income will continue to manage the portfolio, which includes approximately 500 retail assets that benefit from stable, contractual cash flows and are supported by Realty Income's operating platform and long-standing asset management expertise.
“We are pleased to announce Apollo’s targeted equity investment in a highly diversified, income-producing portfolio. As real estate partner to the world’s leading companies®, we expect this partnership will serve as a template for a multi-billion-dollar, programmatic co-investing relationship in the United States. Our size, scale, and longstanding commitment to providing dependable mo
