Realty Income Announces Strategic Partnership with Apollo

Summary

Realty Income Corporation announced on March 30, 2026, that it expects to close a strategic partnership with Apollo on March 31, 2026. Under the terms of the partnership, Apollo-managed funds will provide a $1.0 billion investment to Realty Income in exchange for a 49% interest in a joint venture entity owning a diversified portfolio of approximately 500 single-tenant retail properties. Additionally, Realty Income announced the closing of a $694 million term loan with an affiliate of The Goldman Sachs Group, Inc., due January 2036, and executed a cross-currency swap for a portion of the proceeds. As of March 26, 2026, the company had $4.5 billion of liquidity, consisting of cash, unsettled ATM forward equity, and credit facility availability.