Deal Details
Follow-On Offering
Summary
Baird served as a co-manager in this offering.
About
Realty Income Corporation (NYSE: O) (“Realty Income” or the “Company”) recently completed a follow-on offering of 6,198,500 shares, including full exercise of the over-allotment option, of its common stock at $33.40 per share, generating gross proceeds of approximately $207.0 million. Realty Income expects to use the net proceeds from this offering to pay off borrowings under its acquisition credit facility and to fund a substantial portion of property acquisitions aggregating approximately $150 million during the third and fourth quarters of 2010.Realty Income Corporation is a fully integrated, self-administered real estate investment trust (REIT) with in-house acquisition, leasing, legal, retail research, real estate research, portfolio management and capital markets expertise. Realty Income, The Monthly Dividend Company®, is a New York Stock Exchange REIT dedicated to providing shareholders with dependable monthly income. As of June 30, 2010, the Company owned a diversified portfolio of 2,350 properties with an occupancy rate of 96.2%. Realty Income had 19.5 million square feet leased to 118 different retail and other commercial enterprises located in 49 states. Of the 2,350 properties in the portfolio, 2,339, or 99.5%, are single-tenant properties, and the remaining 11 are multi-tenant, distribution and office properties. At June 30, 2010, of the 2,339 single-tenant properties, 2,250 were leased with a weighted average remaining lease term (excluding extension options) of approximately 11.4 years.
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- Date
- September 2010
- Company
- Realty Income Corporation
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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