Realty Income, a real estate investment trust, completed the acquisition of VEREIT, a full-service real estate operating company which owns and manages one of the largest portfolios of single tenant commercial properties in the US, for $11.1bn. "We believe the merger with VEREIT will generate immediate earnings accretion and value creation for Realty Income's shareholders while enhancing our ability to execute on our ambitious growth initiatives. Together, our company will enjoy increased size, scale, and diversification, continuing to distance Realty Income as the leader in the net lease industry. VEREIT's real estate portfolio is highly complementary to ours, which we expect to further enhance the consistency and durability of our cash flows," Sumit Roy, Realty Income President and CEO. On August 12, 2021, Realty Income and VEREIT announced that the stockholders approved all of the proposals necessary for closing.