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Apollo-Realty Income joint venture signals shift in how major REITs finance acquisitions

Firms strike $1 billion partnership, bypassing public markets for cheaper private capital
Apollo Global Management is acquiring a 49% stake in roughly 500 single-tenant retail properties, including dollar stores, pharmacies and grocery-anchored centers. (iStock)
Apollo Global Management is acquiring a 49% stake in roughly 500 single-tenant retail properties, including dollar stores, pharmacies and grocery-anchored centers. (iStock)
CoStar News
March 20, 2026 | 7:46 P.M.

Apollo Global Management is putting $1 billion to work in everyday retail real estate — properties with tenants such as Dollar General, CVS and grocery stores — through a new joint venture with net-lease giant Realty Income.

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News | Apollo-Realty Income joint venture signals shift in how major REITs finance acquisitions