Live Breaking News & Updates on San Diego Realty Income
Stay updated with breaking news from San diego realty income. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
San Diego's Realty Income topped Wall Street expectations for quarterly revenue on Monday, as the company benefited from higher occupancy and increased rental revenue from its properties. ....
Print San Diego’s Realty Income, the owner of thousands of single-tenant retail and industrial buildings, has inked a deal to acquire Phoenix-based VEREIT in an all-stock transaction valued at roughly $11 billion. The mega-merger, announced Thursday, would create one of the largest Real Estate Investment Trusts in the net-lease REIT industry, with a combined 10,300 properties across the U.S., Puerto Rico and United Kingdom. Brand-name tenants include Walgreens, Dollar General, FedEx, Dollar Tree, 7-11, LA Fitness, CVS Pharmacy and Walmart. Combined annualized contractual rent is expected to total $2.5 billion. The complex transaction which calls for the spinoff of 97 office properties into a new, publicly traded REIT increases the “size, scale and diversification of Real Income’s real estate portfolio and overall platform,” said Chief Executive Sumit Roy in a conference call with analysts. ....