Spirit was acquired for around $5.3 billion.
This week’s blockbuster Realty Income/Spirit merger is another example of the demand for net lease property – both within the institutional REIT sector as evidenced by this announcement as well as within the private investor market as seen by the continued demand from that investor profile.
“Realty Income identified value within the Spirit portfolio,” Matthew Mousavi, Managing Principal, National Net Lease Group, SRS Real Estate Partners, tells GlobeSt.com.
“I’m not surprised they acquired them in a single transaction as REITs are able to deploy larger amounts of capital and realize efficiencies and cost savings doing so, and through larger multi-property portfolio acquisitions.”
For the full story, click here.