Baird served as co-manager on this offering
AboutAmerican Realty Capital Properties, Inc. (the “Company”) (NASDAQ: ARCP) recently completed a follow-on offering of 138,000,000 shares of common stock at a price of $12.00 per share, generating gross proceeds of approximately $1.7 billion. The Company intends to use the net proceeds from the offering to repay outstanding indebtedness under its existing credit facility and for general corporate purposes.
American Realty Capital Properties, Inc. is a self-managed and self-administered real estate company that operates two business segments, real estate investment, or REI, and a private capital management business, Cole Capital. Through the REI segment, the Company acquires, owns and operates single-tenant, freestanding commercial real estate properties, primarily subject to net leases with high credit quality tenants. The Company focuses on investing in properties that are net leased to credit tenants, which are generally large public companies with investment-grade ratings and other creditworthy tenants. As of March 31, 2014, the Company owned 3,809 properties consisting of 101.8 million square feet for a total asset base of approximately $21.0 billion, which properties were 98.9% leased with a weighted average remaining lease term of 10.2 years. The Company is headquartered in San Diego, California.
For additional information about this transaction, please contact:
- May 2014
- American Realty Capital Properties, Inc.
- Real Estate
- Target Location
- North America