Realty Income Corporation (NYSE: O), The Monthly Dividend Company®, announced a strategic joint venture with Cloud Capital and its affiliates and a global institutional investor. The joint venture intends to invest in a diversified portfolio of stabilized hyperscale assets leased to investment-grade tenants under long-duration, triple-net leases. The joint venture has committed to acquire three data center assets, which are in strategically located markets and leased to hyperscale tenants. The programmatic joint venture will provide a platform for Realty Income to take advantage of future investments in qualifying data center developments and acquisitions within the United States and Europe.
Latham & Watkins LLP represents Realty Income in the transaction with a corporate deal team led by Real Estate partner James Mann and M&A partner Darren Guttenberg, with associates Jacob Prischak and Trevor Worby. Advice was provided on finance matters by partner Kenneth Askin, with associate Jeff Najjar, and on tax matters by partner Ana O’Brien and counsel William Kessler.
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