American Realty acquires non-traded REIT

|By:, SA News Editor

Cole Credit Property Trust is the first non-traded REIT offered by Cole Capital, ARCP's private capital management business. CCPT has been around since 2004 when it first sold shares in a private offering.

The deal adds 39 properties to ARCP's portfolio at a cash cap rate of 8.16%. Forty percent of the portfolio's rental income is derived from investment grade or implied investment grade tenants, with the weighted-average remaining lease term being seven years.