American Realty Plans To Spin Off $2.2B Retail Portfolio

Law360, New York (March 13, 2014, 11:51 AM EDT) -- American Realty Capital Properties Inc. is looking to spin off $2.2 billion worth of multitenant shopping center properties into a publicly traded real estate investment trust, it said Thursday.

Under the terms of the spinoff, New York-based ARCP will retain a 25 percent ownership stake in the newly formed REIT, which will be known as American Realty Capital Centers Inc., or ARCenters, according to a statement. ARCenters is expected to trade on the Nasdaq under the symbol "ARCM."

The spinoff is expected to decrease ARCP's percentage...
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