Acquisitions

A TRUSTED CAPITAL PARTNER

Realty Income focuses on acquiring freestanding, single-unit properties leased to industry-leading operators under long-term, net lease agreements. Our retail properties are primarily leased to clients with a service, non-discretionary and/or low price point component to their business. Additionally, we also target industrial and distribution properties leased to Fortune 1000, investment-grade rated companies.

Our acquisition strategy is to act as a source of capital to industry-leading domestic and international commercial clients by acquiring and leasing back their real estate locations. In addition, we frequently acquire large portfolios of properties net leased to multiple clients in a variety of industries. We are a unique source of capital to real estate sellers through sale-leasebacks, build-to-suits, existing leases and large portfolios. Our *#operating-history-years#*-year track record along with size, scale and access to capital, enable us to be an effective partner for companies to capitalize on their strategic business objectives.

$ 740.1 M

Investment Volume in Q3 2024

$ 48.5 B

Property Level Investment Volume Since 2010

> 72 %

Of Investment Volume is Relationship-Driven

Data presented as of *#end-of-quarter-date#*

OUR APPROACH

We have an internal team dedicated to sourcing opportunities, often using our relationships with various clients, owners/developers and advisors to uncover and secure transactions. We undertake thorough research and analysis to identify what we consider to be appropriate industries, clients and property locations for investment. This research expertise is instrumental in uncovering net lease opportunities in markets where our investment adds value.

Our business model and conservative strategy are supported by the acquisition of properties leased to industry-leading clients with reliable and sustainable cash flow.

OUR CRITERIA

PROPERTY TYPE

Primarily freestanding retail and industrial properties

LEASE TERM

Ideally 10+ years but amenable to shorter terms

REAL ESTATE

Strong visibility and high-density population centers

FINANCING STRUCTURE

All cash, mortgage assumption and/or OP unit issuance

RETAIL CLIENTS

Clients with a service, non-discretionary, and/or low price point component to their business

NON-RETAIL CLIENTS

Primarily industrial & distribution properties leased to Fortune 1000, investment-grade rated companies

DEVELOPMENT FINANCING

Capital provider for expansions or build-to-suit new developments with identified client lease in place

Working With Realty Income

Realty Income offers a *#operating-history-years#*-year operating history marked by *#years-as-publicly-traded-company#* years as a publicly traded company under the ticker symbol "O" on the New York Stock Exchange. Our team is seeking to acquire assets of all sizes in *#generic-geographies#*. We offer the following key advantages:

Capabilities to achieve immediate funding through *#credit-facility-capacity-without-accordion#* revolving credit facility and *#commercial-paper-program-capacity#* commercial paper program
Capabilities for providing built-to-suit development financing
Access to public equity and debt capital markets
Options for tax-deferral through operating partnership units
Moody's *#moodys-credit-rating#* and S&P *#sandp-credit-rating#* investment-grade credit ratings
No financing contingencies
No financial covenants