NYSE:ORetail REITs
How Realty Income’s Apollo JV and 2036 Financing Package Could Reframe the Capital Story for (O) Investors
In March 2026, Realty Income Corporation announced a US$1.00 billion joint venture with Apollo for a 49% interest in a roughly 500-property single-tenant retail portfolio, alongside closing a US$694 million unsecured term loan due 2036 at a 4.91% fixed rate and executing a cross-currency swap that reduced the effective borrowing rate to 4.34% on US$500 million of proceeds.
An interesting angle is that this private capital partnership with Apollo, paired with long-dated, fixed-rate financing...