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Excel Trust Inc
Excel Trust, Inc. was a public real estate investment trust (REIT) that focused on the acquisition, financing, and development of single-tenant properties located primarily in the United States. The company's portfolio consisted of properties leased to investment-grade tenants under long-term net leases.
Excel Trust was founded in 2010 and was headquartered in San Diego, California. The company went public in 2012 and was listed on the New York Stock Exchange (NYSE) under the ticker symbol "EXL".
Excel Trust's portfolio was primarily composed of retail properties, but it also included industrial, office, and other commercial properties. The company's top tenants included well-known companies such as Walgreens, CVS, and Bank of America.
On October 7, 2015, Excel Trust announced that it had entered into a merger agreement with Realty Income Corporation (NYSE: O), a leading REIT specializing in retail properties under long-term net leases, in a transaction valued at approximately $2.7 billion, including the assumption of debt. The merger was completed on December 31, 2015, and Excel Trust ceased to exist as a separate public company.
Overall, Excel Trust was a publicly-traded REIT that specialized in single-tenant net lease properties and was acquired by Realty Income Corporation in 2015.