NEW YORK ( TheStreet) - Last March American Realty Capital Properties (ARCP) made a hostile attempt to take over Cole Real Estate Investments (COLE) for around $9 billion. Cole's board rebuffed the offer and ARCP responded with a counter proposal to pay $9.7 billion in cash, equity issuance and debt assumption. Cole Real Estate again ignored the offer and proceeded to list shares on the New York Stock Exchange in June.ARCP moved on to other targets including American Realty Capital Trust IV, a related 2,709 property portfolio, CapLease (LSE), a 64 property portfolio, and 471 properties owned by GE Capital (closed May 2013). Like a snowball plowing downhill, ARCP has grown at an amazing clip where the New York-based REIT started out in Sept. 7, 2011 with an IPO that raised just $69.75 million for the purpose of funding 63 assets (all but one being bank branches).
American Realty Capital Properties Becomes a 'Category Killer'
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