California-based investor Realty Income has spent $230m (£177m) on seven properties in the UK during its third quarter, as it continues to spot opportunities for growth.
It invested $658.6m in 89 properties and developments globally during the quarter, bringing its portfolio count to 6,588 properties in the US, the UK and Puerto Rico.
In the UK in the nine months ending September, the investor acquired 13 properties for $453.7m with an average WAULT of 10 years. Globally, it spent $1.3bn on 180 properties and developments during the same period.
Realty Income expects that its acquisition volume will reach $2bn for 2020, although it continues to “evaluate the impacts of the Covid-19 pandemic” on its business.
The firm collected 93.1% in rent payments during the quarter.
Sumit Roy, president and chief executive of Realty Income, said its investments primarily focused on “real estate leased to leading operators in essential and resilient industries, like the grocery, home improvement and convenience store industries”.
The investor launched in the UK in April last year after buying 12 Sainsbury’s supermarkets from British Land for £429m.
See also: Realty Income sees UK growth and cultivates industrial partners
See also: Realty Income’s £429m Sainsbury’s deal is ‘first of many’ UK investments
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