Weil, Proskauer Aid American Realty On $6B REIT Offer

Law360, New York (March 20, 2013, 2:26 PM EDT) -- American Realty Capital Properties Inc. said Wednesday it has offered to buy real estate investment trust Cole Credit Property Trust III Inc. for $5.7 billion in cash and stock and asked the REIT to hold off on acquiring its adviser, Cole Holdings Corp.

The deal — which American Realty valued at $9 billion when including the assumption of debt and said would create one of the largest net-lease REITs — is superior to Phoenix-headquartered Cole Credit's March 6 proposal to buy Cole Holdings, whose affiliates manage...
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