American Realty Pays $601M For Fortress RE Portfolio

Law360, New York (January 9, 2014, 4:38 PM EST) -- American Realty Capital Partners has finished its acquisition of 120 commercial properties from Fortress Investment Group affiliates for $601 million, it announced Thursday.

The properties, whose locations were not disclosed, are fully leased to 17 tenants, according to the company's 8K statement. The sale is part of a bigger acquisition of 196 properties from Fortress for $972.5 million.

The portfolio of 120 has 1.6 million combined square feet of space and 44 of the properties are "leasehold only."

"With the acquisition of this portfolio from Fortress,...
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