Log in to access helpful sales tools, investor forms, and marketing materials.
Log in to access helpful sales tools, investor forms, and marketing materials.
New York, NY, October 17, 2011--American Realty Capital Trust III, Inc., (“ARCT III” or the “Company”) announced today that it had acquired two Walgreens pharmacies with a combined 26,172 square feet of space located in Staten Island, New York, and Coalinga, California, for a total purchase price, excluding acquisition costs, of approximately $9.2 million.
The Company acquired a ground leasehold interest in the 11,610 square foot Staten Island property, which is 100% leased to Walgreen Eastern Co., Inc. The lease is guaranteed by Walgreen Co. (NYSE: WAG), which is rated “A” by Standard and Poor’s. The original term of the triple net lease for the Staten Island property is 25 years with approximately 21.5 years remaining in the primary term.
The Company acquired a fee simple interest in the 14,820 square foot Coalinga property, which is 100% leased to Walgreen Co. The original term of the triple net lease for the Coalinga property is 25 years with approximately 22.1 years remaining in the primary term.
“We are very pleased to have closed these two acquisitions so quickly after completing our first purchase of the FedEx Freight build-to-suit freight distribution facility in Butte, Montana. They are consistent with our strategy of purchasing freestanding, single-tenant properties net leased to strong credit tenants diversified by geography, tenancy, lease term and industry,” said Nicholas S. Schorsch, Chairman and CEO of ARCT III. “These two acquisitions complement and further diversify our existing portfolio and increase our total assets to approximately $21.3 million.”
American Realty Capital Trust III, Inc. is a publicly registered, non-traded real estate investment program that has commenced its initial public offering of up to 150.0 million shares of common stock, at a purchase price of $10 per share, for an aggregate offering amount of up to $1.5 billion. The Company intends to use the proceeds from the offering to acquire properties that are single tenant, long-term net leased to investment-grade and creditworthy tenants. The Company is offering the shares of common stock on a reasonable best efforts basis through its affiliate, Realty Capital Securities, LLC, the dealer manager of the offering.
A registration statement relating to the offering of these securities has been filed with the U.S. Securities and Exchange Commission and declared effective. The offering will be made only by means of a prospectus. Copies of the prospectus for the offering may be obtained by contacting: Realty Capital Securities, LLC, Three Copley Place, Suite 3300, Boston, MA 02116, Tel: 1-877-373-3522 .
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to the following risks: The failure to qualify or maintain the requirements to be taxed as a REIT would reduce the amount of income available for distribution and limit the Company’s ability to make distributions to its stockholders. No public market initially exists for the Company’s shares of common stock, and one may never exist for this or any other such type of real estate program. Securities are being offered on a best efforts basis. These are speculative securities and as such involve a high degree of risk. There are substantial conflicts among an offering and its sponsor, advisor, dealer manager and property manager. There is no assurance that the value of the real estate will be sufficient to return any portion of investors' original capital. Operating results will be affected by economic and regulatory changes that have an adverse impact on the real estate market and we cannot assure you that there will be growth in the value of the properties.
To arrange interviews with executives of American Realty Capital Trust III, Inc. please contact Tony DeFazio at 484-532-7783 or tony@defaziocommunications.com.
Click here to view this press release on EON.BuisnessWire.com
If you click on this link, you will be taken to another website for a publisher that is an unrelated third party not affiliated with American Realty Capital Trust III.
This material does not constitute an offer to sell nor a solicitation of an offer to buy any securities described herein or otherwise. Only a prospectus for a specific securities offering makes such an offer. In that regard, the use of this material is authorized only when it is accompanied or preceded by a prospectus. Further, all information contained in this material is qualified by the terms of a current Prospectus of the offering of securities to which it relates, if any.
This material may contain forward-looking statements that involve assumptions, uncertainties and risks, some of which are set forth below. These statements are not guarantees and should not be regarded as representations that the results or conditions described in such statements, or that our objectives and/or plans, will be achieved.
A real estate investment program offering is subject to the following Risks: The failure to qualify, or maintain the requirements, to be taxed as a REIT would reduce the amount of income available for distribution and limit a REIT's ability to make distributions to its stockholders. No public market initially exists for a REIT's shares of common stock, and one may never exist for this or any other such type of real estate program. Securities are being offered on a best efforts basis. These are speculative securities and as such involve a high degree of risk. There are substantial conflicts among an offering and its sponsor, advisor, dealer manager and property manager. There is no assurance that the value of the real estate will be sufficient to return any portion of investors' original capital. Operating results will be affected by economic and regulatory changes that have an adverse impact on the real estate market and we cannot assure you that there will be growth in the value of the properties.
American Realty Capital CEO Nicholas Schorsch gives his outlook for the real estate market.
Nicholas S. Schorsch to Ring NASDAQ Closing Bell at First-Ever NASDAQ OMX REIT IPO Conference
American Realty Capital Adds Key Executives to Its Management Team
ARCP, Inc. Announces Closing of Follow-On Offering of Common Stock
ARC Receives the President’s Award from Real Estate Investment Securities Association
American Realty Capital Trust III Acquires Two Walgreens Pharmacies
Fox Business Interviews American Realty Capital Properties CEO on IPO
Realty Capital Securities, LLC (Member FINRA/SIPC), is the dealer-manager for all stated proprietary offerings, an affiliate. Realty Capital Securities, LLC, Three Copley Place, Suite 3300, Boston, MA 02116, T 877-373-2522
Investors should consider a fund's investment objectives, risks, charges and expenses before investing. This sales and advertising material is neither an offer to sell nor a solicitation of an offer to buy any securities. Such an offer can only be made by the Prospectus. This material must be read in conjunction with the current Prospectus for the respective offering in order to fully understand all of the implications and risks of the offering of securities to which it relates. A copy of the Prospectus must be made available to you in connection with this offering. You must meet suitability standards in order to buy any securities described herein. Refer to the details in the applicable Prospectus. The achievement of any or all goals of any offering that may be described herein is not guaranteed. Risks for these investment program offerings typically include: no public market currently exists, and one may never exist; there is no assurance that the value of the holdings will be sufficient to return any portion of the investors original capital invested in any offering of such securities; substantial fees and expenses are typically paid to an offerings advisor, its affiliates and participating broker dealers; assets acquired with leverage have risks including loss of value and limits on flexibility needed if there are changes in the business or industry. An investment in any of these investment programs should be made only after careful review of the related prospectus. All information contained in this material is qualified by the terms of applicable Prospectus.
Other than as specifically indicated on the respective page, properties depicted in the photographs are of assets held in either American Realty Capital's current offerings or past real estate investment programs sponsored by American Realty Capital.
Terms and Conditions | Privacy Policy | Business Continuity Plan | Site Map | Report a Web Site Problem
