NEW YORK CITY-In a little more than a week, American Realty Capital Properties Inc. has closed on another $14 million in single tenant lease acquisitions.
The firm, which announced on April 8 that it had closed on $37.8 million in net lease deals during a three-week span, reports that since that last announcement it closed on $14 million in transactions involving six properties that total 80,000 square feet of rentable space. The properties, located in five states, are leased to CVS, Family Dollar, Hy-Vee and Advance Auto.
“Our current acquisition pipeline enables us to continue to build shareholder value by growing our earnings and the value of our portfolio through a carefully orchestrated organic purchase program, focused on individual assets, consistent with our portfolio strategy of buying long and intermediate duration properties net leased to credit tenants,” notes ARCP Chairman and CEO Nicholas S. Schorsch. “Three-and-a-half months into 2013, we are well ahead of our targeted acquisitions pace, having closed and announced 34% of our $1.1-billion objective for 2013. My view is that the market will continue to provide us ample opportunities for portfolio construction and earnings growth.”
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