Apollo Invests $1B for 49% Stake in Realty Income Net Lease JV
Apollo-managed funds will invest $1.0 billion for a 49% interest in a new joint venture that will own a diversified portfolio of approximately 500 single-tenant net-lease retail properties, with Realty Income continuing to manage; the deal supports Realty Income's private capital initiative and is expected to close March 31, 2026. The arrangement includes permanent equity treatment from Moody's and S&P and a call option to redeem Apollo after year 7, under predefined terms.
