This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

American Realty Capital Properties Completes Its Third Quarter Acquisitions By Purchasing Four Properties

NEW YORK, Oct. 1, 2012 /PRNewswire/ --  American Realty Capital Properties, Inc., (NASDAQ: ARCP) ("ARCP" or the "Company") announced that, on September 28, 2012, it closed on the acquisition of three CVS pharmacies located in Georgia ( Alpharetta and Vidalia) and Nashville, Tennessee and an Iron Mountain information storage warehouse located in Columbus, Ohio, for an aggregate purchase price of $9.5 million, exclusive of customary closing costs. The weighted average capitalization rate for these acquisitions is 9.73% (calculated by dividing annualized rental income on a straight-line basis by base purchase price). The properties had a weighted average remaining lease term of 5.0 years at acquisition. The acquisitions were mainly funded by a draw from the Company's revolving credit facility.


The three CVS pharmacies contain an aggregate of 31,620 rentable square feet and are leased to wholly owned subsidiaries of CVS Caremark Corporation (NYSE: CVS), which carries an investment grade credit rating, as determined by major credit rating agencies. The Iron Mountain information storage warehouse contains 126,664 rentable square feet and is leased to a wholly owned subsidiary of Iron Mountain Incorporated (NYSE: IRM), which carries an investment grade credit rating as determined by a major credit rating agency. Iron Mountain Incorporated is a world leader in information management services, assisting more than 156,000 organizations in 35 countries on five continents with storing, protecting and managing their information.

These properties complete ARCP's acquisitions for the third quarter ended September 30, 2012, in which ARCP acquired six properties for an aggregate contract purchase price of $25.7 million, exclusive of closing costs. The third quarter acquisitions increased the portfolio's size, at cost, to $235.7 million, comprised of 124 properties.

"We are very pleased to add these properties to our portfolio, finalizing our third quarter acquisitions which were highlighted by the additions of new tenants including Mrs. Baird's, Reckitt-Benckiser and Iron Mountain," commented Nicholas S. Schorsch, Chairman and Chief Executive Officer of ARCP. "Our third quarter acquisitions further enhanced our portfolio's tenant mix and geographic diversification. We continue to take advantage of the buying opportunities in the current market, making accretive purchases which are in line with our investment strategy."

About the Company

American Realty Capital Properties, Inc., a publicly traded Maryland corporation listed on The NASDAQ Capital Market under the trading symbol "ARCP," is an externally managed real estate company that owns and acquires single tenant free standing commercial real estate properties that are primarily net leased on a medium-term basis generally to investment grade tenants.  Additional information about the Company can be found on the Company's website at

SOURCE American Realty Capital Properties, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,993.89 +281.23 1.59%
S&P 500 2,085.27 +24.25 1.18%
NASDAQ 4,941.6030 +50.3840 1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs