Realty Income Corp. has announced completion of "substantially all of its office assets" into a new publicly traded REIT, called Orion Office REIT.
Current shareholders will get one share of Orion stock for every ten shares of Realty Income stock they held on November 2, 2021.
The move is likely to create more focused investment vehicles according to experts and market watchers. A recent JLL report said that general REIT mergers and acquisitions had already hit $108 billion in transaction volume in the first nine months of 2021.
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