Inland Sells Core Lease Assets To AR Capital In $2.3B Deal

Law360, New York (August 9, 2013, 4:03 PM EDT) -- Three real estate investment trusts under the umbrella of American Realty Capital Properties Inc. have agreed to acquire a portfolio of 294 net lease properties from Illinois nontraded REIT Inland American Real Estate Trust Inc. in a deal valued at $2.3 billion, the companies said Friday.

New York-based American Realty, the real estate investment giant controlled by Nick Schorsch, will pick up a $1.45 billion portfolio of net lease properties and assume $795.3 million of Inland American's debt. The portfolio is 68 percent leased to investment-grade...
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