Crystallizing Value Creation & Market Overview
Proven Track Record of Value-Add Asset and Portfolio Management
REALTY INCOME
Strong client retention rates are a testament to real estate quality, operator quality,
active asset management and mutually beneficial client relationships(1)
85%
77%
91%
94%
93%
94%
81%
2015
2016
2017
2018
2019
2020
Rents at or below market at acquisition result in
above 100% recapture ratios at expiration.
Re-leased over 3,200 properties at 100.8%
recapture rate (2) since 1996.
One of the few net lease companies that report
re-leasing results.
(1) Based on number of leases re-leased to same clients each year.
(2) Reflects cash rent recapture inclusive of client improvement spend (immaterial).
YTD 2021
Strong client retention supports
industry-leading leasing spreads
Accretive Re-Leasing Activity is
a Result of Prudent Underwriting (2)
104.5%
105.5%
103.3%
105.5%
100.9%
102.6%
100.0%
2015
2016
2017
2018
2019
2020
YTD 2021
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