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NEW YORK CITY-Five weeks after American Realty Capital Trust and Broad Street Advisors, both based here, collaborated on the acquisition of a 465,600-square-foot Home Depot distribution facility in Columbia, SC, the two companies have struck a deal for a similarly-sized facility in Topeka, KS. Neither Broad Street, which arranged the sale, nor purchaser ARCT disclosed the purchase price, citing a confidentiality agreement with the seller, an affiliate of USAA Real Estate Co.

The USAA affiliate had also developed the Columbia BTS, and signed Home Depot in a long-term lease of the Topeka facility in March. Following the success of the Columbia transaction, USAA offered “a second facility that was nearly identical,” Robert Rizzi, managing partner at Broad Street, says in a release. He says the second Home Depot deal was “a natural fit” given ARCT’s “strong desire for freestanding single-tenant assets, net leased long-term to investment grade tenants.”

Rizzi adds that “ARCT and its affiliate executed exceptionally on the deals, in each case closing early, and has quickly become one of the more active purchasers of credit tenant assets.” Broad Street sourced the transaction on behalf of ARCT and arranged the financing, which was provided by USAA.

In November, ARCT chairman and CEO Nicholas Schorsch told GlobeSt.com that the current market is offering many such opportunities for his company. “This is an unusual time in the world,” he said. “I can’t remember a time in the last 30 years when the credit markets, the capital markets and real estate were all disrupted at the same time. This is a win-win for both us and our partners, who are looking to find ways to better utilize their balance sheets in an accretive way to shareholders. The cap rates are improving, the environment on the debt side is improving and being a buyer with high levels of liquidity is also an advantage for us.”

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