American Realty Capital Global Trust Acquires its First Property
NEW YORK, Oct. 30, 2012
NEW YORK, Oct. 30, 2012 /PRNewswire/ --American Realty Capital Global Trust,
Inc., ("ARC Global" or the "Company") announced today that it closed on its
first acquisition – a McDonald's restaurant located in Carlisle, United
Kingdom. The purchase price of the property was £1.6 million, exclusive of
closing costs, at a capitalization rate of 8.75% (calculated by dividing
annualized rental income on a straight-line basis plus operating expense
reimbursement revenue, less property operating expenses, by base purchase
price). The acquisition was funded with a mix of proceeds from the Company's
initial public offering and a loan from Santander.
(Logo: http://photos.prnewswire.com/prnh/20121005/NY88022LOGO )
The McDonald's restaurant contains 9,094 square feet and is leased to
McDonald's Real Estate LLP, a subsidiary of McDonald's Corporation, which
carries an investment grade rating as determined by major credit rating
"This prime property, which we acquired with the assistance of our European
partner, Moor Park Capital Partners, demonstrates our ability to identify and
purchase properties with superior cap rates in Europe," commented Nicholas S.
Schorsch, Chief Executive Officer and Chairman of the Board of Directors of
the Company. Mr. Schorsch continued, "This recent acquisition bears out our
investment thesis and demonstrates the strong rental returns we are able to
achieve in Europe currently on attractive credits, given the overall
uncertainty of the European economy, broadly speaking."
As previously announced, ARC Global's board of directors authorized, and the
Company declared, a distribution rate which will be calculated at a rate of
$0.00194520548 per day... The Company's distributions will begin to accrue 30
days following the Company's initial property acquisition which occurred
today, October 30, 2012. The distributions will be payable by the 5th day
following each month end to stockholders of record at the close of business
each day during the prior month.
About American Realty Capital
Founded in 2006, American Realty Capital ("ARC") is a full-service investment
management firm providing advisory services to retail and institutional
investors. ARC is an active sponsor and manager of public and private real
estate investments, a business development company and other investment
products. Collectively, ARC's senior team of seasoned professionals has
acquired and managed over $8 billion of real estate, as well as $5 billion of
corporate sale-leasebacks and net leased properties.
About Moor Park Capital Partners LLP
Moor Park Capital Partners LLP ("Moor Park"), founded in 2006, is a UK limited
liability partnership and is regulated by the FSA. Headquartered in London,
Moor Park is a private real estate firm which concentrates on commercial
property investment in Europe and has approximately €1.64 billion of real
estate assets currently under management. Moor Park provides a wide range of
services to its clients, including, among others, acquisition, development,
asset, property and facility management, leasing services, centralized
corporate support services and financing services. The partners of Moor Park
are Gary Wilder, Shemeel Khan & Jagdeep Kapoor and together have a combined 55
years of experience and have structured and executed €22 billion of real
estate transactions in Europe.
ARC Global is a publicly registered, non-traded real estate investment
program. Additional information about ARC Global can be found on its website
The statements in this press release that are not historical facts may be
forward-looking statements. These forward-looking statements involve risks and
uncertainties that could cause the outcome to be materially different. In
addition, words such as "anticipate," "believe," "expect" and "intend"
indicate a forward-looking statement, although not all forward-looking
statements include these words.
SOURCE American Realty Capital Global Trust, Inc.
Contact: Anthony J. DeFazio, DeFazio Communications, LLC, +1-484-532-7783,
email@example.com; or Brian S. Block, EVP & CFO, American Realty
Capital Global Trust, Inc., +1-212-415-6500, firstname.lastname@example.org
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