American Realty Capital Properties Inc (ARCP) said it would purchase American Realty Capital Trust IV (ARCT) for $3.1 billion in cash and stock to expand in the net-lease sector, where tenants pay most of the operating costs.The deal will put ARCP on track to become the second-largest net-lease real estate investment trust with an enterprise value of $10 billion.Net-leased properties are attractive to investors because tenants pick up most of the operating costs and the properties are leased for long periods, resembling a high-dividend bond.Both ARCP and ARCT are owned by the American Realty Capital group, which also sponsors five other public non-traded real estate securities offerings.
American Realty Capital Properties, Inc. is a real estate investment trust (REIT). Shares of ARCP fell by 0.67% or $-0.099/share to $14.70. In the past year, the shares have traded as low as $9.77 and as high as $16.66. On average, 3177690 shares of ARCP exchange hands on a given day and today's volume is recorded at 3799756.
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