Realty Income Establishes Strategic Partnership with GIC

Core Insights - Realty Income Corporation has established a strategic partnership with GIC, involving a programmatic joint venture with over $1.5 billion in capital commitments focused on high-quality logistics real estate in the U.S. [1][2] - The partnership includes a $200 million commitment for a long-term leased industrial portfolio in Mexico, marking Realty Income's first investment in the country [1][4] - GIC has become a cornerstone investor in Realty Income's U.S. Core Plus fund, enhancing the company's capital diversification strategy [1][2] Joint Venture Details - The joint venture will primarily focus on build-to-suit development of industrial assets leased to investment grade-equivalent tenants in the U.S. [3] - Realty Income will hold majority ownership of the assets purchased under the joint venture [3] Investment in Mexico - Realty Income and GIC, along with GIC's development partner Hines, will finance the construction of industrial properties in Mexico City and Guadalajara, with a total purchase price of approximately $200 million upon completion [4] Company Background - Realty Income, known as "The Monthly Dividend Company," has a portfolio of over 15,500 properties across the U.S. and several other countries, and has a history of increasing dividends for over 30 consecutive years [6] - GIC, established in 1981, manages Singapore's foreign reserves and employs a long-term investment strategy across various asset classes [7]