Revenue of $94.1M up 213% from a year ago, with AFFO up 153% to $55.8M. AFFO per share up 108% to $0.25.
The Cole acquisition is already paying off, with the combined ARCP and Cole teams expected to surpass the high end of the previously projected $2B-$3B of acquisitions targeted for 2014. More than $1B is anticipated to close in Q1 at an average cap rate of 8.3%. Private Capital Management business is on pace to raise $950M of capital during this period, faster than previous projections.
2014 AFFO guidance is reaffirmed at $1.13-$1.19 per share.
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