Realty Income to Grow NNN Portfolio by $1.5B+

Realty Income Corp. will continue to add to its triple net portfolio this year, investing between $1.5 billion and $2 billion, according to President & CEO Sumit Roy (pictured above). He made the announcement during the San Diego, CA-based REIT’s fourth quarter earnings report.

“Our investment pipeline remains solid,” Roy noted.

Last year, Realty Income invested $1.8 billion in 764 new properties and properties under development or expansion, according to its fourth quarter earnings report.  The company, which specializes in triple net assets, ended the year with a total of 5,797 properties located in 49 states and Puerto Rico.

All the properties Realty Income acquired in 2018 are 100% leased. They have a weighted average lease term of approximately 14.8 years.

The REIT was also a seller in 2018, disposing of 28 properties for $142.3 million.

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