American Realty Cap (ARCP) Plans to Close $54.3M of Deals in Q113
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American Realty Capital Properties, Inc. (Nasdaq: ARCP) has placed $54.8 million of properties under agreement which it intends to close in the first quarter of 2013.
The acquisitions will be made at a weighted average capitalization rate of 8.9% (calculated by dividing annualized rental income on a straight-line basis plus operating expense reimbursement revenue, less property operating expenses, by base purchase price). These properties contain leases to the following tenants with a remaining lease duration of approximately 7.0 years: CVS; Family Dollar; FedEx; Fresenius; Pilot Flying J; and Walgreens.
Following the completion of these acquisitions, the Company's portfolio will be 91% investment grade (including investment grade tenants affiliated with investment grade entities as determined by a major credit rating agent).
The acquisitions will be made at a weighted average capitalization rate of 8.9% (calculated by dividing annualized rental income on a straight-line basis plus operating expense reimbursement revenue, less property operating expenses, by base purchase price). These properties contain leases to the following tenants with a remaining lease duration of approximately 7.0 years: CVS; Family Dollar; FedEx; Fresenius; Pilot Flying J; and Walgreens.
Following the completion of these acquisitions, the Company's portfolio will be 91% investment grade (including investment grade tenants affiliated with investment grade entities as determined by a major credit rating agent).
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