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Latham Reps Realty Income In $2.95B American Realty Deal

Law360, New York (September 6, 2012, 12:00 PM EDT) -- Realty Income Corp. will swallow up fellow investor American Realty Capital Trust in a $2.95 billion cash-and-debt acquisition, the pair said Thursday, throttling the real estate investment trust to a place among the largest in the U.S.

Through the deal, Realty Income aims to broaden its reach outside the retail sector, from which it draws a bulk of its revenue. American Realty focuses on commercial properties, but has directed efforts specifically toward health care and more industrial assets in addition to its retail holdings.

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