Realty Buys Diageo Properties

Realty Income Corporation has acquired the winery and vineyard properties of Diageo Chateau & Estate Wines for $269m.

Under the agreement, Realty Income will acquire the properties subject to 20-year, triple-net lease agreements with Diageo.

The properties are located throughout the Napa Valley in Napa County, California, and comprise the Sterling Vineyards winery and the Beaulieu Vineyards winery with a combined leasable space of approximately 400,000ft².