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ESCONDIDO, CALIF. — Escondido, Calif.-based Realty Income Corp. has signed a purchase agreement to acquire a retail portfolio for $250 million. The portfolio contains 136 properties occupied under triple-net leases. Realty Income will fund the purchase by tapping into its acquisition credit facility and/or with cash on hand. The deal is expected to close within the next 90 days.
In a statement, Realty Income said more details regarding the deal would be released following its closing.
If the transaction closes, it will increase the amount of property Realty Income has acquired this year to approximately $690 million.
— Coleman Wood