Strategic sale-leaseback transaction in Spain


SAN DIEGO, September 21, 2021 / PRNewswire / – Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that the company has entered into a € 93 million sale and leaseback transaction in Spain, composed of seven buildings in net long-term rental with Carrefour and its real estate subsidiary Carrefour Property. This transaction represents Realty Income’s first real estate acquisition in Continental Europe.

“We are honored to announce our first strategic expansion in Spain with Carrefour, which represents a natural evolution of our international growth strategy with leading customers ”, declared Roy Summit, President and CEO of Realty Income. “We are committed to continuing our client-centric strategy and meeting the need for a large-scale, well-capitalized institutional real estate partner offering a compelling growth opportunity for our future together. As we continue to expand our global platform in partnership with our clients, we believe we are uniquely positioned in the global net rental market given our proven platform, scalability, access and cost of capital; and our ability to provide our clients with a comprehensive solution to monetize the value of their real estate for future growth. “

“We are delighted with this transaction with a world-class investor. It reflects the value of our real estate portfolio and illustrates our dynamic asset management policy, in line with the Group’s strategy, ”said Lola Bañón, Managing Director of Carrefour Property at Spain.

This partnership with Carrefour, Europe the world’s largest food retailer, aligns with Realty Income’s long-standing investment criteria to partner with leading operators in industries with limited cash flow volatility and consistent sales trends throughout. along various economic cycles. The transaction was closed on September 16, 2021.

Carrefour profile:

  • 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 operation and has increased the dividend 112 times since Realty Income’s IPO in 1994 (NYSE: O). Additional information about the Company can be obtained on the Company’s website at

Forward-looking statements

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 do not undertake to publicly disclose the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date on which such statements were made.

SOURCE Real Estate Income Corporation

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