Realty Income Corp. has formed a strategic joint venture with Cloud Capital and its affiliates and a global institutional investor. The joint venture intends to invest in a diversified portfolio of stabilized hyperscale assets leased to investment-grade tenants under long-duration, triple-net leases. The joint venture has committed to acquire three data center assets which are in strategically located markets and leased to hyperscale tenants. The programmatic nature of the joint venture will provide a platform for Realty Income to take advantage of future investments in qualifying data center developments and acquisitions within the United States and Europe.
“The combination of high-quality data center assets leased to investment-grade tenants, long-duration triple-net leases, and an attractive return profile reflects our disciplined approach to capital allocation and value creation,” said Sumit Roy, president and CEO of Realty Income.
Hossein Fateh, founder and C
