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American Realty Capital shifts to internal management

  • 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
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Comments (1)
  • Union Trade Assoc
    , contributor
    Comments (955) | Send Message
     
    To date Mr. Schorsch and Board have managed one of the finest M&A executions to occur within the REIT sector. All Shareholders benefit, both ARCP & COLE in the expansion to one of the largest and most profitable net lease REITS today, with high quality blue chip tenants, superior lease properties in growth markets and occupancy rates.
    The combined entities promise to provide shareholders superior returns in both payout of secured dividends and valuation. Executive conviction demonstrated by direct purchases of thousands of shares.
    8 Jan 2014, 04:30 PM Reply Like
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