8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 1, 2012 (September 28, 2012)

AMERICAN REALTY CAPITAL PROPERTIES, INC.

(Exact name of Registrant as specified in its charter)

Maryland	001-35263	45-2482685
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

405 Park Avenue

New York, New York 10022

(Address, including zip code, of principal executive offices)

(212) 415-6500

Registrant’s telephone number, including area code: 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

Senior Secured Revolving Credit Facility

On September 28, 2012, American Realty Capital Properties, Inc. (the “Company”) increased its aggregate commitments under its existing senior secured revolving credit facility with RBS Citizens, N.A. to $110.0 million. The Company’s borrowings under the credit facility are collateralized by 95 of the Company’s properties. Through an “accordion feature,” the Company may increase its total commitments under the credit facility to $150.0 million. The terms of the revolving credit facility are set forth in the Company’s Registration Statement on Form S-11 filed on September 22, 2011 and the credit agreement was filed as Exhibit 10.21 to such filing. The description of the revolving credit facility in this Current Report on Form 8-K is a summary and is qualified in its entirety by the terms of the credit agreement, which is incorporated herein by reference.

Item 8.01. Other Events.

Property Acquisitions

On October 1, 2012, 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 contract purchase price of $9.5 million, exclusive of closing costs. The acquisitions were mainly funded by a draw from the Company’s revolving credit facility.

By purchasing these properties, the Company completed its acquisitions for the quarter ended September 30, 2012, totaling an aggregate contract purchase price of $25.7 million, exclusive of closing costs. The Company’s third quarter acquisitions increased the portfolio’s size, at cost, to $235.7 million, comprised of 124 properties.

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 has an investment grade credit rating, as determined by a major credit rating agency.

A copy of the press release announcing the Company’s acquisition of three CVS pharmacies and an Iron Mountain information storage warehouse, which completed the Company’s third quarter acquisitions, is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Press Release, dated October 1, 2012

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	AMERICAN REALTY CAPITAL PROPERTIES, INC.
October 1, 2012	By:	/s/ Nicholas S. Schorsch
	Name:	Nicholas S. Schorsch
	Title:	Chief Executive Officer and
		Chairman of the Board of Directors

EX-99.1

CONTACTS
From: Anthony J. DeFazio	For: Brian S. Block, EVP & CFO
DeFazio Communications, LLC	American Realty Capital Properties, Inc.
tony@defaziocommunications.com	bblock@arlcap.com
Ph: 484-532-7783	Ph: 212-415-6500

FOR IMMEDIATE RELEASE

American Realty Capital Properties Completes its Third Quarter Acquisitions by Purchasing Four Properties

New York, New York, October 1, 2012 – 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 www.americanrealtycapitalproperties.com.

For more information about this announcement, please contact Tony DeFazio of DeFazio Communications, LLC at 484-532-7783 or tony@defaziocommunications.com.