American Realty Capital Global Trust to Purchase Wickes Warehouse in United
NEW YORK, April 25, 2013
NEW YORK, April 25, 2013 /PRNewswire/ --American Realty Capital Global Trust,
Inc. ("ARC Global") announced today that it expects to acquire in early May a
Wickes retail warehouse in the U.K. The property will be purchased for an
aggregate price of £3.9 million, or $6.0 million, using an exchange rate of
$1.53 to £1.00, representing a capitalization rate of 8.5% (calculated by
dividing annualized rental income on a straight-line basis by base purchase
price). The triple-net lease has a remaining primary term of 11.4 years and
is subject to upward rent adjustments marked to market every five years.
The retail warehouse is leased to Wickes Building Supplies Ltd., a home
improvement store, which has an implied investment grade credit rating as
determined by a major credit rating agency. Wickes Building Supplies Ltd.
operates a chain of 224 do-it-yourself stores in the U.K. and is a subsidiary
of Travis Perkins plc. (LSE: TPK), the largest supplier of building materials
in the U.K. Travis Perkins plc. has 24,000 employees and a market
capitalization of £3.53 billion.
"We are pleased to announce the pending acquisition of the Wickes Building
Supplies retail warehouse at a cap rate of 8.5%. This asset exemplifies our
ability to identify quality real estate assets, leased to credit tenants, on a
long term basis, generating superior yields. With our partner Moor Park, we
have assembled a robust pipeline of European and U.S. opportunities," stated
Nicholas S. Schorsch, Chairman and Chief Executive Officer of ARC Global.
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 £2.7 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 and Jagdeep Kapoor, and together have 60 years
plus experience structuring and executing in excess of £20 billion of real
estate transactions over their careers internationally.
ARC Global is a publicly registered, non-traded real estate investment program
that intends to qualify as a real estate investment trust for the taxable year
ending December 31, 2013. Additional information about ARC Global can be found
on its website at www.arcglobaltrust.com.
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, Diccicco Battista Communications,
email@example.com, Ph: (484-342-3600); or Brian S. Block, EVP & CFO,
American Realty Capital Global Trust, Inc., firstname.lastname@example.org, Ph:
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