Preferred and Common Stock and OP Units Preferred and Common Stock and OP Units (Tables)

12 Months Ended

Dec. 31, 2014

Stockholders' Equity Note [Abstract]

Schedule of Common Stock Offerings

The following are the Company’s equity offerings of common stock and the gross proceeds of the equity offerings for each year since the Company’s initial public offering (dollars, in millions):

Type of offering	Closing Date	Number of Shares(1)	Gross Proceeds
IPO	September 7, 2011	5,574,131	$	67.4
Follow-on offering	November 2, 2011	1,497,924	15.8
Underwriters’ over-allotment	November 7, 2011	74,979	0.8
Total - Year end December 31, 2011(2)		7,147,034	$	84.0
Follow-on offering	June 18, 2012	3,250,000	$	30.3
Underwriters’ over-allotment	July 9, 2012	487,500	4.6
Total - Year end December 31, 2012(3)		3,737,500	$	34.9

Type of offering	Closing Date	Number of Shares(1)	Gross Proceeds
Registered follow on-offering	January 29, 2013	2,070,000	$	26.7
ATM	January 1 - September 30, 2013	553,300	8.9
Private placement offering	June 7, 2013	29,411,764	455.0
Private placement offering	November 12, 2013	15,126,498	186.0
Total - Year end December 31, 2013(4)		47,161,562	$	676.6
Public Offering	May 28, 2014	138,000,000	$	1,590.0
		138,000,000	$	1,590.0

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(1) Excludes 140.7 million shares of common stock that were issued to the stockholders of ARCT III’s common stock in conjunction with the ARCT III Merger.

(2) Excludes 9.8 million shares of common stock that were issued by ARCT III for gross proceeds of $102.2 million.

(3) Excludes 155.7 million and 5.4 million shares of common stock that were issued by ARCT III and ARCT IV, respectively, for gross proceeds of $1.6 billion and $255.0 million, respectively, prior to their acquisitions by ARCP.

(4)Excludes 31.0 million shares of common stock that were issued to ARCT IV stockholders in connection with the ARCT IV Merger.

Schedule of Dividends Authorized and Paid

Dividend Increase Declaration Date	Annualized Dividend Per Share	Effective Date
September 7, 2011	$0.875	October 9, 2011
February 27, 2012	$0.880	March 9, 2012
March 16, 2012	$0.885	June 9, 2012
June 27, 2012	$0.890	September 9, 2012
September 30, 2012	$0.895	November 9, 2012
November 29, 2012	$0.900	February 9, 2013
March 17, 2013	$0.910	June 8, 2013
May 28, 2013	$0.940	December 8, 2013 (1)
October 23, 2013	$1.000	February 7, 2014 (2)

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(1) The dividend increase became effective at the closing of the CapLease Merger, which was consummated on November 5, 2013.

(2) The dividend increase was contingent upon, and became effective with, the closing of the Cole Merger, which was consummated on February 7, 2014.