European Market Expansion and Strategic Entry into Poland
Realty Income entered Poland in Q2 2025, marking its eighth European country, driven by Poland's status as the second fastest-growing GDP in Europe.
Investments in Poland included distribution centers and industrial assets, such as Eko-Okna, a leading manufacturer, with initial yields around 7.3%.
The company sees Poland as a strategic growth market due to its large population, GDP growth, and favorable property laws, with plans to build a transaction pipeline in the region.
The expansion into Poland is part of broader European growth, leveraging lower euro borrowing costs (~120 basis points below U.S. debt costs) and a fragmented, less competitive landscape.
European investments now represent 17% of annualized base rent, with continued focus on industrial and retail sectors, especially in Ireland and the UK retail parks.
Rapid Expansion of International Platform, Particularly in Europe and Asia
Newmark launched its European operations around a year ago, with a significant presence at Expo Real in Munich in October.
Signed 70 brokers in Europe, with plans to expand further, leveraging success in France, UK, and other regions.
European business now accounts for over 13% of total volume, with a strategic focus on building a diversified, integrated platform to serve global corporate clients.
Dafinchi