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NEW YORK--(BUSINESS WIRE)--American Realty Capital Trust, Inc. (“ARCT” or the “Company”) announced today the successful completion of acquisitions for its portfolio of properties.
“We could not be more pleased that the $1.7 billion of equity we raised for ARCT, especially in the months leading up to our closing in July, has been substantially invested consistent with our strategy. Our real estate team has worked overtime in making certain that these sums were put to work on behalf of our investors with no ‘style drift,’” offered Nicholas S. Schorsch, Chairman and CEO of ARCT.
“The Company’s strategy began with a focus on retail and commercial properties net leased long term to a diversified group of credit worthy companies,” explained William M. Kahane, President and COO of ARCT. “We have built a portfolio of 479 properties, approximately $2.1 billion of purchase price, 74% investment grade tenants when measured by NOI. Our cap rate is north of 8% and we are borrowing on average at about 5.25%. Our average remaining primary term is just under 14 years. We have never waivered from our core investment values.”
| Portfolio Highlights | December 5, 2011 | |||||
| Total Assets (Base Purchase Price) | $2.1 Billion | |||||
| Total Capital Raised | $1.7 Billion | |||||
| Net Operating Income (Measured on a GAAP basis) | $170 million | |||||
| Number of Properties | 479 | |||||
|
States and U.S. Territories (including Puerto Rico) |
42 + Puerto Rico | |||||
| Number of Tenants | 60 | |||||
| Number of Industries | 21 | |||||
| Percent Investment Grade Tenants | 74% | |||||
| Capitalization Rate (Weighted Average) | 8.14% | |||||
| Average Mortgage Interest Rate | 5.27% | |||||
| Average Remaining Lease Term | 13.6 | |||||
ARCT is a public, non-traded, real estate investment trust with a core investment strategy to acquire, own and manage a portfolio of retail and commercial properties leased to a diversified group of credit worthy companies. ARCT was formed by Nicholas S. Schorsch and William M. Kahane, both of whom have extensive backgrounds in real estate with particular expertise in net leased properties, transaction structuring, capital markets and public listed and non-listed companies. The Company has acquired single-tenant, freestanding properties, net-leased on a long-term basis to investment-grade and other creditworthy tenants. ARCT’s targeted properties enjoy a strong location on “Main Street, USA,” e.g., pharmacies, banks, restaurants, gas/convenience stores, or are situated along high traffic transit corridors at locations carefully selected by the corporate tenant to support operationally essential corporate distribution/warehouse and logistical facilities.
For more information, visit www.americanrealtycap.com.
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 various factors.
To arrange interviews with American Realty Capital executives, please contact Tony DeFazio at 484-532-7783 or tony@defaziocommunications.com.
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.
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.
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