{"id":1004800952,"date":"2026-06-04T05:27:31","date_gmt":"2026-06-04T13:27:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004800952"},"modified":"2026-06-04T05:32:56","modified_gmt":"2026-06-04T13:32:56","slug":"capital-ideas-new-partners-new-equity-for-reits","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/capital-ideas-new-partners-new-equity-for-reits\/","title":{"rendered":"Capital Ideas: New Partners, New Equity for REITs"},"content":{"rendered":"
\n
\"Photo<\/a>
Therese Fitzgerald<\/figcaption><\/figure><\/div>\n\n\n

REITs are bypassing a difficult public trading environment by accessing private capital through joint ventures and private investment funds. The trend is not brand new, but it\u2019s exciting to learn how the bigger REITs have been able to run with it.<\/p>\n\n\n\n

At Nareit’s REITweek conference, I sat down with Jonathan Pong, executive vice president, CFO & treasurer of Realty Income, the largest net lease<\/a> REIT with 15,500 properties in 92 industries, to talk about the company’s recent and growing partnerships with private investors.<\/p>\n\n\n\n

Pong told me the company has been “leaning into” relationships with investors that don’t have a REIT mandate but have real estate exposure. As a result, this year the company has accessed generous buckets of new capital for expanding its platform.<\/p>\n\n\n\n

Realty Income’s U.S. Open-End Core Plus LP fund for institutional investors held a$1.7 billion cornerstone capital raise. The fund is targeting a diversified portfolio of retail and industrial properties. “It’s an extension of what we do and have done as a public company for 32 years,” Pong said. <\/p>\n\n\n\n

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READ ALSO:<\/strong> The Allure of Data Centers, Health Care REITs<\/a><\/p>\n\n\n\n

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Realty Income also formed a $1 billion stragetic partnership with Apollo Global Management’s subsidiary Athene Holding, the largest insurance company for retirement annuities. Realty Income seeded the venture with a varied portfolio of 492 single-tenant retail properties that are 49 percent owned by Apollo and 51 percent owned by Realty Income. The return expectations on these properties for “quite low,” Pong said, but they will deliver the predictable, monthly income to investors this growing demographic seeks.<\/p>\n\n\n\n

“There’s a lot of capital coming into fixed-rate annuities,” Pong stressed.<\/p>\n\n\n\n

And Realty Income formed a $1.5 billion joint venture with Government Investment Corp. to do build-to-suit projects. The venture with GIC will target industrial projects<\/a> predominantly.<\/p>\n\n\n\n

All of the partnerships are expected to be programmatic, but they are not embedded in the company’s $9.5 billion investment volume guidance for 2026.<\/p>\n\n\n\n

Slow and steady <\/h2>\n\n\n
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\"\"<\/a>
Jonathan Pong, Executive Vice President, CFO & Treasurer of Realty Income, at Nareit’s REITWeek. Image by Therese Fitzgerald<\/figcaption><\/figure><\/div>\n\n\n

While it has been a “blessing to be a public REIT” because of the access to efficient capital, Pong explained, there is often a mismatch between the quick results public investors want and the long-term \u201cappreciate-over-time\u201d strategy that the company has pursued and that many private investors are seeking. \u201cWe\u2019re very much a sleep-at-night story,” he said.<\/p>\n\n\n\n

On the other hand, these new ventures help a company founded in 1968 and public since 1994 show it can remain nimble and aggressive amid a somewhat crowded net lease REIT space. <\/p>\n\n\n\n

\u201cWe have to prove to the market that being bigger doesn\u2019t mean you aren\u2019t going to grow as fast,\u201d Pong said.<\/p>\n\n\n\n

The company is also staying on the cutting edge by, with the help of artificial intelligence, harnessing its vast amounts of data to create proprietary and predictive analytics for underwriting acquisitions. <\/p>\n\n\n\n

“That’s something that’s unique to us and something public companies can bring to co-investors and say, ‘This is what we bring to the table,'” Pong said.<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

How publicly traded Realty Income is tapping private dollars to help fuel growth.<\/p>\n","protected":false},"author":756,"featured_media":1004706954,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21748,21783,21742,21749,21684],"tags":[41921,52823],"class_list":["post-1004800952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-industrial","category-investment","category-latest","category-retail","category-viewpoint","tag-nareit","tag-realty-income-corp"],"acf":[],"yoast_head":"\nCapital Ideas: New Partners, New Equity for REITs - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/capital-ideas-new-partners-new-equity-for-reits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capital Ideas: New Partners, New Equity for REITs\" \/>\n<meta property=\"og:description\" content=\"How publicly traded Realty Income is tapping private dollars to help fuel growth.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/capital-ideas-new-partners-new-equity-for-reits\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-04T13:27:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-06-04T13:32:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/new-headshot-copy.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"804\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Therese Fitzgerald\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/capital-ideas-new-partners-new-equity-for-reits\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/capital-ideas-new-partners-new-equity-for-reits\/\",\"name\":\"Capital Ideas: New Partners, New Equity for REITs - 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