ARCP Picks Up TD Bank Office in Maine

FALMOUTH, ME-American Realty Capital Properties Inc. on Monday said that it had acquired an office building here, net leased to TD Bank. It contains 143,030 rentable square feet for a contract purchase price of $31 million at a capitalization rate of 8.9%.

“Coupled with our purchase of a FedEx Ground facility this past week, we have made approximately $40 million of acquisitions which reflect our focus on assembling a portfolio of strong credit tenants,” Nicholas Schorsch, chairman and CEO of ARCP, says in a release. “We are pleased to have added TD Bank, a well-known nationally recognized banking institution, to our portfolio.”