American Realty Capital Trust V Provides Recent Investment Activity Update
Expected Acquisitions Bring Total Portfolio to $2.2 Billion as of August 31, 2013, Including $123.2 Million of Acquired Properties, $2.0 Billion of Acquisitions Under Executed Purchase and Sale Agreements and $101.8 Million of Acquisitions Subject to Executed Letters of Intent
Pipeline Acquisitions are Expected to be 69% Leased to Investment Grade Tenants, have a Weighted Average Lease Term of 12.1 Years and Mark Completion of ARCT V's Retail-Focused, Net Lease Acquisitions Strategy
NEW YORK, Sept. 5, 2013 /PRNewswire/ -- American Realty Capital Trust V, Inc. ("ARCT V") announced today that it is has assembled a combined asset portfolio of $2.2 billion as of August 31, 2013, including $123.2 million of acquired properties, $2.0 billion of acquisitions under executed purchase and sale agreements, and $101.8 million of acquisitions subject to executed letters of intent. The aggregate $2.2 billion portfolio includes previously announced acquisitions and, in total, will be 70% leased to investment grade tenants. The $2.2 billion portfolio's weighted average lease term is expected to be 12.3 years.
(Logo: http://photos.prnewswire.com/prnh/20130506/NY08131LOGO )
Nicholas S. Schorsch, Chairman and Chief Executive Officer of ARCT V, explained, "We are continuing to execute on our retail-focused, net lease acquisition strategy by identifying high quality assets across a wide variety of industries, tenants and locations. We are in the process of completing our buying phase early in the operations of ARCT V and are consistently and efficiently match-funding deployment of capital in a manner consistent with the our investment strategy. When completed, our $2.2 billion of assets are expected to generate 70% of their income from investment grade-rated tenants."
About ARCT V
ARCT V is a publicly registered, non-traded real estate investment trust ("REIT") that intends to qualify as a REIT for tax purposes with the taxable year ending December 31, 2013.
Important Notice
The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. In addition, words such as "anticipate," "believe," "expect" and "intend" indicate a forward-looking statement, although not all forward-looking statements include these words.
SOURCE American Realty Capital Trust V, Inc.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article