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): August 5, 2013
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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
On August 5, 2013, American Realty Capital Properties, Inc. issued a press release announcing that, in addition to its large portfolio acquisitions to date and consistent with its organic acquisitions strategy, it had acquired 26 net lease properties for $25.3 million, exclusive of closing costs, since July 1, 2013.
A copy of the press release announcing the foregoing 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 August 5, 2013 |
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. | ||
August 5, 2013 | By: | /s/ Nicholas S. Schorsch |
Name: | Nicholas S. Schorsch | |
Title: | Chief Executive Officer and | |
Chairman of the Board of Directors |
FOR IMMEDIATE RELEASE
American Realty Capital Properties Has Acquired $25.3 Million of Net Lease Properties Since July 1
Acquired Properties are 80% Leased to Investment Grade Tenants, Purchased at an 8.6% Cap Rate and Demonstrative of ARCP’s Success in Executing its Organic Acquisitions Strategy
New York, New York, August 5, 2013 – American Realty Capital Properties, Inc. (“ARCP”) (NASDAQ: ARCP) announced today that it had closed upon the acquisition of 26 net lease properties for $25.3 million, exclusive of closing costs. The 26 properties are 80% net leased to investment grade tenants, as determined by a major credit rating agency, including Dollar General, Family Dollar and Walgreens. The properties were purchased at a weighted average cap rate of 8.6% (calculated by dividing annualized rental income on a straight-line basis plus operating expense reimbursement revenue, less property operating expenses, by base purchase price) and contain leases with a weighted average remaining duration of 9.4 years.
Nicholas S. Schorsch, Chairman and Chief Executive Officer of ARCP added, “In addition to the large portfolio acquisitions that we have announced and completed to date, these $25 million of acquisitions since July 1st demonstrate our acquisition team’s ability to execute consistently on our organic growth strategy, allowing us to purchase efficiently single assets and small portfolios in line with our investment focus. We are pleased to announce the purchase of these high quality real estate assets which are 80% net leased to investment grade tenants and purchased at strong cap rates in the mid 8.0% range.”
About ARCP
ARCP is a publicly traded Maryland corporation listed on The NASDAQ Global Select Market that qualified as a real estate investment trust for U.S. federal income tax purposes for the taxable year ended December 31, 2011, focused on acquiring and owning single tenant freestanding commercial properties subject to net leases with high credit quality tenants. Additional information about ARCP can be found on its website at www.arcpreit.com. ARCP may disseminate important information regarding ARCP and its operations, including financial information, through social media platforms such as Twitter, Facebook and LinkedIn.
Important Notice
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.
Contacts
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Anthony J. DeFazio | Brian S. Block, EVP & CFO |
DDCWorks | American Realty Capital Properties, Inc. |
tdefazio@ddcworks.com | bblock@arlcap.com |
Ph: 484-342-3600 | Ph: 212-415-6500 |