One Day, Two Different Cole Announcements

NEW YORK CITY—Two separate announcements Monday by net lease giant American Realty Capital Properties Inc. both involve entities of Phoenix-based Cole Capital, ARCP’s private capital management business. However, ARCP’s COO, Lisa Beeson, tells GlobeSt.com the two announcements are otherwise unrelated, as is their timing. ARCP’s executive chairman, Nicholas Schorsch, who is also chairman and CEO of Cole Credit Property Trust Inc., will keynote RealShare Net Lease, to be held Wednesday morning at Convene in Midtown Manhattan.

In one of these announcements, ARCP has commenced an all-cash offer to buy all 10.1 million outstanding shares of CCPT for $7.25 per share, or approximately $74 million, through a newly formed subsidiary, Desert Acquisition Inc. In the other, ARCP said Cole Corporate Income Trust Inc. has engaged Wells Fargo Securities LLC to assist in its review of potential strategic options following its $1.9-billion initial public offering late last year.