American Realty Closes on 536 Retail Properties from GE Capital
American Realty Capital Trust IV announced it has closed on the acquisition of 567 properties in July for a purchase price of $897.1 million. The company said its July acquisitions include 536 primarily net lease retail properties purchased on July 31, 2013, as part of a previously announced portfolio acquisition from certain affiliates of GE Capital.
The GE Capital portfolio is part of the former publicly traded Trustreet Properties portfolio. Following this closing, ARCT IV has acquired 913 properties from this GE Capital transaction for a contract purchase price of $1.35 billion; it expects to purchase the remaining 42 properties in two additional closings. ARCT IV’s July acquisitions included the following investment grade and credit tenants: Kentucky Fried Chicken, Wendy’s, CVS, Dollar General, Family Dollar, Mattress Firm, Walgreens, Rite Aid, SunTrust and Pizza Hut.