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News Breaks | | | | September 10, 2012 | | 17:55 EDT |  | ARCP | American Realty announces approximately $15.2M additional acquisitions
American Realty Capital Properties announced that it intends to acquire approximately $15.2M of properties, exclusive of closing costs, consistent with its single tenant, medium term, corporate credit, net lease investment strategy. The acquisitions are in addition to the $5.6M of properties under contract previously announced. The properties under contract consist of three CVS pharmacies located in Georgia (Alpharetta and Vidalia) and Nashville, Tennessee, and a Pilot Flying J travel center located in Carnesville, Georgia. The properties have an average remaining lease term of approximately 5.9 years and are priced at an average cap rate of 9.5%. The acquisitions would add two new tenants to the ARCP property portfolio, bringing the company's total number of discrete tenants to 16. These properties represent the second portion of the $25M of acquisitions anticipated to close in the third quarter of 2012, included in the company's previously announced guidance. | |
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