Realty Income Corporation ( O - Free Report ) recently unveiled that it has signed a definitive agreement with subsidiaries of CIM Real Estate Finance Trust, Inc., a non-listed REIT sponsored by an affiliate of CIM Group, to acquire up to 185 single-tenant retail and industrial properties. The move resonates with the company's expansion efforts in key markets to enhance portfolio quality and scale. Reflecting broader market concerns, shares of O witnessed a marginal loss on Dec 30 normal trading session at the NYSE. The acquisition, to be worth around $894 million, will take place in cash and is anticipated to be completed in first-quarter 2023, subject to various customary closing conditions. The cash cap rate for the total portfolio is estimated to be approximately 7.1%, with a weighted average remaining lease term of roughly 9.2 years. Investment-grade-rated clients are expected to contribute around 48% of the total portfolio annualized contractual rent.