American Realty to Buy Nonlisted REIT in $3.1 Billion Deal
This article is for subscribers only.
American Realty Capital Properties Inc. agreed to buy American Realty Capital Trust IV, a nonlisted real estate investment trust under the same management company, in a deal valued at about $3.1 billion as it expands its holdings of U.S. single-tenant buildings.
American Realty Capital Properties offered 2.05 of its shares or $30 in cash for each share of the other REIT, the New York-based companies said in a statement today. The stock offer is worth about $31 per share, based on the average share price for the five trading days through yesterday, they said.