Apollo Global commits $1 billion for retail venture with commercial REIT Realty Income

+1.49% Post

-1.02% Post

Apollo Global Management Inc

APO

129.16

129.06

+1.49%

-0.08% Post

Realty Income Corporation

63.35

63.34

-1.02%

-0.02% Post

March 19 (Reuters) - Commercial real estate investment trust Realty Income O.N said on Thursday asset manager Apollo Global Management APO.N and affiliates intend to provide a $1 billion investment to acquire a 49% interest in a new joint venture that is expected to own a diversified portfolio of single-tenant retail properties subject to long-term net leases.

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