SAN
DIEGO, Feb. 7, 2024 /PRNewswire/ -- Realty Income
Corporation (Realty Income, NYSE: O), The Monthly Dividend
Company®, announced a sale-leaseback transaction for 82
retail properties leased to affiliates of Decathlon SE, one of the
world's leading sports companies and sporting goods retailers. The
portfolio includes properties located in Germany, France, Spain, Italy,
and Portugal.
Founded in 1976 by Michel
Leclercq, Decathlon is majority owned by AFIR and
Association Familiale Mulliez, the largest retail conglomerate in
France. In 2022, Decathlon
recorded €15.4 billion of sales across 1,751 stores. Decathlon,
which is investment grade rated, operates in more than 70
territories worldwide, including 27 in Europe, 14 in Asia, and four in Latin America.
"Decathlon exemplifies the type of leading operator Realty
Income is proud to partner with," said Neil
Abraham, President, Realty Income International.
"Decathlon's market leading position and financial strength make it
an attractive partner, and it has demonstrated its dedication to
sustainable growth by announcing a public commitment to reduce its
absolute CO2 emissions by 20% by 2026 across the entire
value chain. We are pleased to own high performing assets that
Decathlon is committed to for the long term. On average, the stores
in the portfolio have operated for 18 years and Decathlon has
operated in the portfolio countries for more than 20 years. We hope
that this is the first step in a long and mutually beneficial
global relationship between Decathlon and Realty Income."
Lazard and Savills served as transaction advisors to Realty
Income. Rothschild & Co. served as transaction advisor to
Decathlon.
About Realty Income
Realty Income, The Monthly
Dividend Company®, is an S&P 500 company and member
of the S&P 500 Dividend Aristocrats® index. We
invest in people and places to deliver dependable monthly dividends
that increase over time. The company is structured as a REIT, and
its monthly dividends are supported by the cash flow from over
13,250 real estate properties primarily owned under long-term net
lease agreements with commercial clients. To date, the company has
declared 643 consecutive common stock monthly dividends
throughout its 55-year operating history and increased the dividend
123 times since Realty Income's public listing in 1994 (NYSE: O).
Additional information about the company can be obtained from the
corporate website at www.realtyincome.com.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Exchange
Act of 1934, as amended. When used in this press release, the words
"estimated," "anticipated," "expect," "believe," "intend,"
"continue," "should," "may," "likely," "plans," and similar
expressions are intended to identify forward-looking statements.
Forward-looking statements include discussions of our business and
portfolio (including our growth strategies, our intention to
acquire or dispose of properties including anticipated partners);
future operations and results; plans and the intentions of
management; trends in our business, including trends in the market
for long-term net leases of freestanding, single-client properties.
Forward-looking statements are subject to risks, uncertainties, and
assumptions about us which may cause our actual future results to
differ materially from expected results. Some of the factors that
could cause actual results to differ materially are, among others,
our continued qualification as a real estate investment trust;
general domestic and foreign business, economic, or financial
conditions; competition; fluctuating interest and currency rates;
inflation and its impact on our clients and us; access to debt and
equity capital markets and other sources of funding; continued
volatility and uncertainty in the credit markets and broader
financial markets; other risks inherent in the real estate business
including our clients' defaults under leases, increased client
bankruptcies, potential liability relating to environmental
matters, illiquidity of real estate investments, and potential
damages from natural disasters; impairments in the value of our
real estate assets; changes in domestic and foreign income tax laws
and rates; our clients' solvency; property ownership through joint
ventures and partnerships which may limit control of the underlying
investments; current or future epidemics or pandemics, measures
taken to limit their spread, the impacts on us, our business, our
clients (including those in the theater and fitness industries),
and the economy generally; the loss of key personnel; the outcome
of any legal proceedings to which we are a party or which may occur
in the future; acts of terrorism and war; the realization of the
anticipated benefits from the merger with Spirit Realty Capital,
Inc.; and those additional risks and factors discussed in our
reports filed with the U.S. Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on
forward-looking statements. Forward-looking statements are not
guarantees of future plans and performance and speak only as of the
date of this press release. Actual plans and operating results may
differ materially from what is expressed or forecasted in this
press release. We do not undertake any obligation to update
forward-looking statements or publicly release the results of any
forward-looking statements that may be made to reflect events or
circumstances after the date these statements were made.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/realty-income-announces-527-million-inaugural-pan-european-sale-and-leaseback-with-decathlon-one-of-the-worlds-leading-sports-brands-302056627.html
SOURCE Realty Income Corporation