Realty Income announces additional transaction with Carrefour in Spain
Posted: October 14, 2021, 4:05 p.m. EDT|Update: 2 hours ago
SAN DIEGO, October 14, 2021 / PRNewswire / – Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced the closing of a portfolio transaction of 64 million euros in Spain composed of three buildings leased to Carrefour under long-term net leases. Together with the previously announced transaction with Carrefour, Realty Income has now invested around € 157 million in quality real estate at Spain.
“Our strategic expansion in Continental Europe continues to gain momentum,” said Roy Summit, President and CEO of Realty Income. “We deeply appreciate our partnerships with leading global operators like Carrefour as we establish our foundation in Spain, and we look forward to strengthening this relationship and building more as we continue to expand internationally. “
- Carrefour (XPAR: CA) holds the second largest food market share in Spain and is the eighth largest retailer in the world operating more than 13,000 stores with different formats in more than 30 countries.
- Carrefour’s non-discretionary business model includes an omnichannel strategy with proven resilience through various economic cycles, illustrated by same-store sales up + 7.8% in fiscal 2020.
About real estate income
Real Estate Income, The Monthly Dividend Company®, is an S&P 500 company and a member of the S&P 500 Dividend Aristocrats® index. We invest in people and places to deliver reliable monthly dividends that grow over time. The company is structured as a REIT and its monthly dividends are supported by the cash flows of over 6,700 real estate properties held under long term lease agreements with our business clients. To date, the company has declared 615 consecutive monthly dividends on common stock throughout its 52 years of operations and has increased the dividend 112 times since Realty Income’s IPO in 1994 (NYSE: O). Additional company information can be obtained on the company’s website at www.revenu immobilier.com.
Statements in this press release that are not strictly historical are “forward-looking” statements. Forward-looking statements involve known and unknown risks, which may cause our actual future results to differ materially from expected results. These risks include, but are not limited to, general economic conditions, domestic and foreign real estate conditions, the financial health of clients, the availability of capital to finance expected growth, volatility and uncertainty in the credit and financial markets in the country. broad sense, changes in exchange rates, real estate acquisitions and the timing of such acquisitions, the structure, timing and completion of the mergers announced between us and VEREIT, Inc. and all effects of the announcement, expectation or the completion of the announced mergers, including the expected benefits thereof, the cost of ownership deficiencies, the effects of the COVID-19 pandemic and the measures taken to limit its impact, the effects of pandemics or global epidemics contagious diseases or the fear of such epidemics, the ability of our clients to properly manage their properties and fulfill their respective lease obligations to us, and the outcome of any legal proceedings to which we are a party, as described in our records with the Securities and Exchange Commission. Therefore, forward-looking statements should be regarded only as a reflection of our current operating plans and estimates. Actual operating results may differ materially from what is expressed or expected in this press release. We assume no obligation to publicly disclose the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances occurring after the date on which such statements were made.
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SOURCE Real Estate Income Corporation
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