American Realty's CCIT to be sold to Select Income REIT


Cole Corporate Income Trust (CCIT) is managed by Cole Capital, ARCP's private capital management business. It's being sold to Select Income REIT (NYSE:SIR) in a deal valuing the enterprise at about $3.1B.

The deal is expected to close early next year and should generate AFFO for ARCP of about $0.02 per share through incentive and disposition fees.

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