American Realty Capital Closes GE Capital Properties Buy
American Realty Capital Properties is the proud new owner of a raft of net lease properties after formally closing a deal with affiliates of General Electric's GE Capital. American Realty Capital bought a total of 447 such properties for $774 million.
Most of its new assets are properties leased to prominent chain restaurant operators. These include Wendy's, Yum! Brands' Taco Bell, and Denny's. All told, 10 high-profile chains constitute 63% of the net operating income of the portfolio.
American Realty Capital has been on something of a buying spree this year. It has also acquired 81 other properties so far in 2013, spending $366.6 million exclusive of closing costs to do so.
The article American Realty Capital Closes GE Capital Properties Buy originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool owns shares of General Electric. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.