American Realty Capital Closes GE Capital Properties Buy

American Realty Capital Properties (NASDAQ: ARCP  ) is the proud new owner of a raft of net lease properties after formally closing a deal with affiliates of General Electric's (NYSE: GE  ) GE Capital. American Realty Capital bought a total of 447 such properties for $774 million.

Most of its new assets are properties leased to prominent chain restaurant operators. These include Wendy's, Yum! Brands' Taco Bell, and Denny's. All told, 10 high-profile chains constitute 63% of the net operating income of the portfolio.

American Realty Capital has been on something of a buying spree this year. It has also acquired 81 other properties so far in 2013, spending $366.6 million exclusive of closing costs to do so.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2516370, ~/Articles/ArticleHandler.aspx, 8/22/2014 1:54:36 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement