Realty Income, the single-tenant REIT, had a very strong first quarter. The San Diego-based firm spent nearly $210 million on 83 property acquisitions. Additionally, Realty Income’s AFFO increased 4.7 percent. And it’s revenue was at $246.9 million, rising 11.4 percent.
Net-lease, especially in retail, has been a hot sector for the commercial real estate industry throughout the recession. And it doesn’t hurt that their biggest tenant in a diversified portfolio is Walgreens.