CONSOLIDATED STATEMENT OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2013		Jun. 30, 2012
Net loss	$ (190,365)		$ (12,198)
Adjustments to reconcile net loss to net cash provided by operating activities:
Issuance of operating partnership units for ARCT III Merger and other transaction related expenses	108,247		0
Depreciation	42,491		8,676
Amortization of intangible lease assets	10,511		1,910
Amortization of deferred costs	3,409		619
Amortization of above-market lease asset	126		0
Loss (gain) on held for sale properties	(14)		405
Equity-based compensation	6,708		330
Unrealized loss on derivative instruments	45		0
Unrealized loss on contingent value rights obligations	31,134		0
Gain on sale of investments	(451)		0
Changes in assets and liabilities:
Prepaid expenses and other assets	(6,754)		(1,819)
Accounts payable and accrued expenses	(351)		1,721
Deferred rent and other liabilities	938		814
Net cash provided by operating activities	5,674		458
Cash flows from investing activities:
Investments in real estate and other assets	(1,073,050)	[1],[2]	(512,024)	[1],[2]
Investment in direct financing leases	(67,518)		0
Capital expenditures	(30)		0
Investments in other assets	(1,041)		0
Deposits for real estate investments	(665)		(600)
Payments for purchases of other investments	(12,000)		0
Proceeds from sale of investment securities	44,188		0
Net cash used in investing activities	(1,110,116)		(512,624)
Cash flows from financing activities:
Proceeds from mortgage notes payable	4,800		139,400
Proceeds from senior secured revolving credit facility	0		32,593
Payments on senior secured revolving credit facility	(124,604)		(107)
Proceeds from senior corporate credit facility	825,000		0
Payments on senior corporate credit facility	(225,000)		0
Payments of deferred financing costs	(25,318)		(9,334)
Advance from affiliate bridge loan	0		796
Payment of affiliate bridge loan	0		(796)
Common stock repurchases	(350,396)		(116)
Proceeds from issuances of preferred shares	0		6,000
Proceeds from issuance of convertible obligations to Series C Convertible Preferred stockholders	445,000		0
Proceeds from issuances of common stock	490,584		825,246
Payments of offering costs and fees related to stock issuances	(808)		(96,209)
Contributions from non-controlling interest holders	750		0
Distributions To Non-controlling Interest Holders	3,111		179
Distributions to non-controlling interest holders	(3,035)		0
Distributions paid	(74,867)		(8,343)
Advances from affiliates, net	0		(708)
Premium payment on interest rate cap	0		(13)
Restricted cash	(468)		(1,547)
Net cash provided by financing activities	958,527		886,683
Net change in cash and cash equivalents	(145,915)		374,517
Cash and cash equivalents, beginning of period	156,873		19,331
Cash and cash equivalents, end of period	10,958		393,848
Supplemental Disclosures:
Cash paid for interest	10,995		2,895
Cash paid for income taxes	354		59
Non-cash investing and financing activities:
OP units issued to acquire real estate investment	0	[2]	6,352
Common stock issued through distribution reinvestment plan	4,895		4,257
Reclassification of deferred offering costs	$ 0		$ 5,875

[1]

[2] Excludes 47 properties comprised of $67.5 million of net investments subject to direct financing leases