US-based investor Realty Income splashed more than twice as much on building a portfolio in Europe in the final three months of 2023 than it did in its home country.
The firm bought 97 assets across Europe during the quarter, spending some $888.8m (£705m) – a blended yield of 7.1%. The acquisitions added 8.4m sq ft to its portfolio. In the US, the group bought 37 properties for $394.7m (a 7% yield), adding 2.2m sq ft. For the full year, US acquisitions dominated with 839 properties bought for $4.1bn. European spending totalled $3bn on 177 assets. Total acquisitions topped $7bn, with almost 32m sq ft of space added to Realty’s portfolio.
Realty, which has been investing in the UK since 2019, made its debut in France, Germany and Portugal in 2023 through a €527m (£451m) sale-and-leaseback deal with sports retailer Decathlon. The deal added 82 properties in France, Germany, Italy, Portugal and Spain to Realty’s portfolio.
