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REALTY INCOME CORP 8-K Report, Regulation FD Disclosure (Sep 29, 2025)

Reports
Regulation FD
Filing Date
Filed September 29, 2025
Period End
September 29, 2025
Security
O
In the record · 2016–202610-K1210-Q328-K221

O filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 221 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Oct ’18Oct ’18
  2. Deal closed8-K · Oct ’20Oct ’20
  3. Material agreement8-K · Apr ’22Apr ’22
  4. Material agreement8-K · Jul ’26Jul ’26

01—Abstract

Summary

Summary of the 8-K filed September 29, 2025. Cited figures are marked; the original filing is the authoritative source.

Realty Income Corporation (O) has announced the initial closing of its new perpetual life U.S. Open-End Core Plus Fund, successfully raising $716 milliona from third-party institutional investors.

This marks a significant milestone as the first external capital raised for the Fund, with notable participation from The Townsend Group and a diverse group of pension funds, asset managers, and investment advisors. The Company anticipates further capital raises through March 31, 2026, indicating strong investor demand and confidence in their strategy. The Fund's initial portfolio comprises 183 income-generating properties valued at approximately $1.4 billionb, contributed from Realty Income's existing portfolio.

Over half of the annualized base rent is derived from industrial properties, with the remainder primarily from retail. Following this initial closing, Realty Income will retain an indirect ownership of approximately 60%c of the Fund's limited partnership interests, ensuring continued strategic alignment and operational control while leveraging external capital to grow its investment base.

02—Key points

Key Highlights

  1. Announced initial $716 million closing for its U.S. Open-End Core Plus Fund.
  2. First time attracting third-party investment into the Fund.
  3. Key investors include The Townsend Group and a diversified base of institutional investors.
  4. Anticipates additional closings through March 31, 2026, for its cornerstone round.
  5. The Fund's seed portfolio consists of 183 properties valued at approximately $1.4 billion.
  6. Portfolio is diversified with over half of rent from industrial properties and the remainder from retail.
  7. Realty Income will indirectly own approximately 60% of the Fund's limited partnership interests after capital calls.

03—Questions

Frequently Asked Questions

  1. What is the purpose of the new U.S. Open-End Core Plus Fund?

    The Fund is designed as a perpetual life vehicle to invest in income-generating real estate assets. This initiative allows Realty Income to leverage external capital to expand its property portfolio and potentially enhance returns by diversifying its investor base.

  2. How much capital has been raised so far and what are the future expectations?

    The initial closing secured $716 million from third-party investors. Realty Income expects to hold additional closings through March 31, 2026, as part of the Fund's cornerstone round, suggesting an intent to significantly increase the Fund's capital base.

  3. What type of properties are included in the Fund's initial portfolio, and what is their approximate value?

    The Fund's seed portfolio includes 183 income-generating properties with an approximate value of $1.4 billion. The portfolio is primarily comprised of industrial (over 50% of annualized base rent) and retail properties.

  4. What is Realty Income's ownership stake in the Fund?

    Following the initial closing and assuming all initial capital commitments are called, Realty Income will indirectly own approximately 60% of the outstanding limited partnership interests in the Fund. This indicates continued significant control and alignment of interests.

04—Continue

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