American Realty Capital (ARCT) Acquired $16.3M of Properties Since End of Q212
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American Realty Capital Trust, Inc. (Nasdaq: ARCT) reports that since the quarter ended June 30, 2012, the Company purchased 10 properties with approximately 60,000 leasable square feet located in five states, at an aggregate purchase price of $16.3 million (exclusive of closing costs).
These purchases are consistent with the Company's single, tenant, long term, corporate credit, net lease investment strategy and represent the first closings in connection with the previously announced $64 million of property acquisitions. These 10 properties increased the Company's overall portfolio to 63 distinct tenants by adding one new tenant, Ruby Tuesday. Currently, 74% of the portfolio's net operating income is derived from tenants carrying investment grade credit ratings. Geographically, the portfolio of properties is present in 43 states and Puerto Rico. The acquisitions are in line with ARCT's strategy to achieve a diversified portfolio with a 60% concentration in the retail sector.
These purchases are consistent with the Company's single, tenant, long term, corporate credit, net lease investment strategy and represent the first closings in connection with the previously announced $64 million of property acquisitions. These 10 properties increased the Company's overall portfolio to 63 distinct tenants by adding one new tenant, Ruby Tuesday. Currently, 74% of the portfolio's net operating income is derived from tenants carrying investment grade credit ratings. Geographically, the portfolio of properties is present in 43 states and Puerto Rico. The acquisitions are in line with ARCT's strategy to achieve a diversified portfolio with a 60% concentration in the retail sector.
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