On March 30, 2026, Realty Income Corporation announced a significant strategic partnership with Apollo, which is expected to close on March 31, 2026. This partnership will involve Apollo-managed funds providing a $1 billion investment in exchange for a 49% interest in a joint venture entity. This entity is anticipated to own a diversified portfolio of approximately 500 single-tenant retail properties currently held by Realty Income, all of which are subject to long-term net leases. The investment is expected to enhance Realty Income's liquidity position, which stood at $4.5 billion as of March 26, 2026. This liquidity comprises approximately $0.8 billion in cash and cash equivalents, $1.2 billion in unsettled ATM forward equity, and $2.5 billion available under its credit facilities. The company has also recently closed a $694 million unsecured term loan due January 2036 with Goldman Sachs, further bolstering its financial standing. The strategic partnership with Apollo is viewed as a positive development, likely to have a noticeable positive effect on Realty Income's stock price, as it aligns with the company's growth strategy and operational execution.

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