ESCONDIDO, Calif., Feb. 19 /PRNewswire/ -- Realty Income Corporation
(Realty Income) (NYSE: O) today announced the pricing of a public offering of
751,174 shares of the Company's common stock which resulted in net proceeds to
the Company of approximately $19 million. The shares were sold to A.G.
Edwards & Sons, Inc. who served as the sole underwriter for the offering. Net
proceeds of the offering will be used to repay a portion of the corporate
credit facility and for other corporate purposes.
It is anticipated that the shares will be sold by A.G. Edwards & Sons,
Inc. to Nike Securities L.P., and placed in a newly-formed registered unit
investment trust comprised of a number of publicly traded real estate
investment trusts (REITs).
Realty Income owns and actively manages a portfolio of 828 commercial
properties in 43 states. By purchasing the freestanding retail store
locations of regional and national chain store operators and then leasing the
locations back to them, Realty Income provides retailers with the opportunity
to free up financial resources for expansion. The Company's acquisition and
investment activities are concentrated in highly specific target markets and
focus on middle-market retailers providing goods and services which satisfy
basic consumer needs.
SOURCE Realty Income Corporation
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