ESCONDIDO, CA - October 16, 2003 - BUSINESS WIRE
Realty Income Corporation today announced that it anticipates substantially exceeding its previously planned target of approximately $150 million in new property acquisition activity during 2003.
The Company announced that, in addition to its planned $95 million acquisition of the Golden Gallion portfolio, it is negotiating the acquisition of an additional $135 million portfolio of properties in an industry in which the Company has previously invested. Realty Income is also actively evaluating other acquisition opportunities and one or more of these acquisitions may close during the fourth quarter of 2003.
The Company further stated that it anticipates that the majority of properties that may be acquired during the balance of 2003 will be held for long-term investment within Realty Income's real estate portfolio and the remainder of the properties will be allocated to Crest Net Lease for subsequent sale.
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