KKR To Make Initial Investment Of EUR 528 Mln In Joint Venture With Realty Income

(RTTNews) - Realty Income Corporation (O, 0KUE.L) and KKR & Co. Inc. (KKR) have announced the formation of a new euro-denominated joint venture that is expected to own a portfolio of existing European net lease real estate assets contributed by Realty Income. KKR will make an initial investment of EUR 528 million to acquire a 49% equity interest in the joint venture. Realty Income will retain a 51% interest in the joint venture and manage the properties under a long-term management deal. The transaction is expected to close on September 30. Sumit Roy, CEO of Realty Income, said: "Building on the private capital foundation we have established in the U.S.