This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

American Realty Capital Global Trust Acquires Wickes Warehouse In United Kingdom

NEW YORK, May 7, 2013 /PRNewswire/ --  American Realty Capital Global Trust, Inc. ("ARC Global") announced today that on May 3, 2013 it acquired a Wickes Building Supplies retail warehouse in the U.K.  The property was purchased for a base purchase price of $6.1 million, representing a capitalization rate of 8.5% (calculated by dividing annualized rental income on a straight-line basis by base purchase price).  The triple-net lease to which the property is subject had a remaining primary term of 11.4 years at acquisition; it is further subject to upward only rent adjustments marked to market every five years.  The acquisition was funded with proceeds from ARC Global's initial public offering and a loan from Santander.

(Logo: http://photos.prnewswire.com/prnh/20121005/NY88022LOGO

The retail warehouse is leased to Wickes Building Supplies Limited., a home improvement store, which has an implied investment grade credit rating as determined by a major credit rating agency.  Wickes Building Supplies Limited operates a chain of 224 do-it-yourself stores in the U.K. and is a subsidiary of Travis Perkins plc (LSE: TPK), the largest supplier of building materials in the U.K.  Travis Perkins plc has 24,000 employees and a market capitalization of £3.53 billion.

"We are pleased to announce the acquisition of a Wickes Building Supplies retail warehouse at a cap rate of 8.5%. This asset purchase further exemplifies our ability to identify quality properties leased to strong credit tenants on a long term basis, generating superior risk-adjusted yields. With our partner, Moor Park, we have assembled a robust pipeline of European and U.S. opportunities that fit our company's investment strategy," stated Nicholas S. Schorsch, Chairman and Chief Executive Officer of ARC Global.

ARC Global currently owns two properties purchased for $8.6 million. The two properties, which are located in the U.K., are 100% leased and comprise 38,773 rentable square feet.

About American Realty Capital

Founded in 2006, American Realty Capital ("ARC") is a full-service investment management firm providing advisory services to retail and institutional investors. ARC is an active sponsor and manager of public and private real estate investments, a business development company and other investment products. Collectively, ARC's senior team of seasoned professionals has acquired and managed over $8 billion of real estate, as well as $5 billion of corporate sale-leasebacks and net leased properties. http://www.americanrealtycap.com

About Moor Park Capital Partners LLP

Moor Park Capital Partners LLP ("Moor Park"), founded in 2006, is a UK limited liability partnership and is regulated by the FSA. Headquartered in London, Moor Park is a private real estate firm which concentrates on commercial property investment in Europe and has approximately £2.7 billion of real estate assets currently under management. Moor Park provides a wide range of services to its clients, including, among others, acquisition, development, asset, property and facility management, leasing services, centralized corporate support services and financing services. The partners of Moor Park are Gary Wilder, Shemeel Khan and Jagdeep Kapoor, and together have 60 years plus experience structuring and executing in excess of £20 billion of real estate transactions over their careers internationally. http://www.moorparkcapital.com

Important Notice

ARC Global is a publicly registered, non-traded real estate investment program that intends to qualify as a real estate investment trust for the taxable year ending December 31, 2013. Additional information about ARC Global can be found on its website at www.arcglobaltrust.com .

The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. In addition, words such as "anticipate," "believe," "expect" and "intend" indicate a forward-looking statement, although not all forward-looking statements include these words.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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