Realty Income completed the acquisition of 415 single-tenant convenience store properties from EG Group for $1.5bn.

Realty Income, a real estate investment trust, completed the acquisition of 415 single-tenant convenience store properties from EG Group, an independent convenience retailer based in the United Kingdom, for $1.5bn. "Our core investment philosophy is to partner with leading operators in industries that have demonstrated an ability to deliver favorable risk-adjusted returns over the long term. We believe this portfolio includes brands that are among the most recognizable convenience store brands on the east coast, and the convenience store industry has long been a well-performing staple in our real estate portfolio. We are pleased with the portfolio's attractive real estate quality, store-level cash flow coverage, and average property size," Sumit Roy, Realty Income President and CEO.