The Necessity Retail Reit Closes On 23 Properties, Representing $278 Million Of The Previously Announced $1.3 Billion Open-Air Shopping Center Acquisition

The Necessity Retail REIT, Inc. (Nasdaq: RTL) ("RTL" or the "Company") announced today that the Company, through its operating partnership, completed the acquisition of 23 open-air shopping centers for a $277.8 Million, excluding closing costs. The closing is the fourth and fifth tranche from the previously announced agreement to acquire a portfolio of 81 Power, Anchored and Grocery Centers1 from certain subsidiaries of CIM Real Estate Finance Trust, Inc. for $1.3 billion. To date, 79 of the 81 properties have closed.