By Denny Jacob
Realty Income Corp. announced on Friday that it had agreed to acquire real estate from subsidiaries of CIM Real Estate Finance Trust Inc. for approximately $894 million in cash.
Realty Income said the agreement is to acquire up to 185 single-tenant commercial and industrial properties from subsidiaries of the real estate investment trust.
The transaction is expected to close in the first quarter, the company said.
The transaction will be immediately accretive to earnings on a leverage-neutral basis, said Sumit Roy, managing director of Realty Income.
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