Cole Credit Completes Sponsor Purchase After Spurning Rival
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Cole Credit Property Trust III, an owner of more than 900 U.S. properties, completed the purchase of the company that sponsored it after rejecting a $6.7 billion buyout offer from American Realty Capital Properties Inc.
Cole Credit plans to list its shares on the New York Stock Exchange in June, the Phoenix-based company said today in a statement. Cole Holdings manages more than $12 billion of real estate assets for about 160,000 individual investors.