- As promised, American Realty Capital Properties (ARCP -1%) today shifts from being externally managed to being self-managed. The management agreement with ARC Properties Advisors is terminated effective today, though certain services of the manager will be used through the completion of the Cole Real Estate (COLE -1.2%) purchase. The deal is close this month, eight weeks earlier than expected.
- ARCP will continue to be led by founders Nicholas Schorsch and Brian Block.
- Press release
at Investor's Business Daily (Jan 8, 2015)