American Realty Capital Properties Lines Up $1.1 Billion of Acquisitions
Real estate investment trust American Realty Capital Properties announced (link opens a PDF) Friday that it is on target for a whopping $1.1 billion in acquisitions for the remainder of 2013.
The property portfolio is expected to be purchased at an average capitalization rate of 8%, meaning American Realty expects the purchases' overall annualized income to clock in at 8% of its total purchase price. The newest $417 million addition to the list is made up of 40 properties leased to 26 tenants across 21 industries and 20 states.
"We continue to identify a balance of long-term and mid-term leases for our portfolio and properties which enhance diversity, decrease tenant and industry concentration and further fortify our net lease portfolio with rents that are highly accretive to our dividend," said Chairman and CEO Nicholas Schorsch in a statement.
The article American Realty Capital Properties Lines Up $1.1 Billion of Acquisitions originally appeared on Fool.com.Fool contributor Justin Loiseau has no position in any stocks mentioned. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.