ESCONDIDO, Calif., March 26 /PRNewswire/ -- Realty Income Corporation
(Realty Income) (NYSE: O) today announced the pricing of a public offering of
372,093 shares of the Company's common stock which resulted in net proceeds to
the Company of approximately $9.5 million. The shares were sold to EVEREN
Securities, Inc. who served as the sole underwriter for the offering. Net
proceeds of the offering will be used to acquire additional properties, pay
down the corporate credit facility and/or for other general corporate
purposes.
It is anticipated that the shares will be sold by EVEREN Securities, 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 834 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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CONTACT:
Gary Malino, Senior Vice President, Chief
Financial Officer, 760-741-2111, ext. 142, or of Tere Miller,
Vice President, Investor Relations, 760-741-2111, ext. 177, both
of Realty Income Corporation
CNOC: http://www.prnewswire.com or fax, 800-758-5804, ext.
746650
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