Realty Income, KKR form euro joint venture as KKR invests €528 million for 49% stake - O News | RalliesRealty Income, KKR form euro joint venture as KKR invests €528 million for 49% stake
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O• Realty Income and KKR form euro-denominated joint venture
- Realty Income formed a euro-denominated joint venture with KKR, extending its private capital strategy into Europe.
- KKR will invest €528 million for a 49% equity stake in a stabilized European net lease portfolio contributed by Realty Income.
- Realty Income will retain 51% ownership, manage the assets through its European platform, and control day-to-day asset management.
- The portfolio contribution was valued at a 5.9% initial cap rate post-management fees, with rating agencies expected to treat the equity as permanent.
- Closing is targeted for Sept. 30, 2026; Realty Income has a call option to redeem KKR’s stake after year 10.
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