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American Realty to Buy Properties From GE for $807 Million

American Realty Capital Properties Inc. agreed to buy 471 properties mainly used by restaurants from General Electric Co. for $807 million to diversify its holdings.

The buildings are mostly rented out to tenants who operate national food chains including IHOP, Jack in the Box, Burger King and Taco Bell, New York-based American Realty said in a statement today. The deal means the company has reached its target of $1.1 billion in acquisitions five months earlier than planned, American Realty said.