$11B American Realty Deal Creates Biggest Net-Lease REIT

Law360, New York (October 23, 2013, 6:26 PM EDT) -- American Realty Capital Properties Inc. clinched a $11.2 billion deal to merge Arizona-based Cole Real Estate Investments Inc. into one of its subsidiaries, creating the industry’s largest net-lease real estate investment trust with an enterprise value of $21.5 billion, the companies announced Wednesday.

After the acquisition, American Realty will boast a real estate portfolio 64 percent larger than the next leading net-lease REIT, with 3,732 properties leased to more than 600 tenants, it said. American Realty’s holdings will be 99 percent occupied with an average remaining...
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