American Realty to buy properties from GE Capital
American Realty buying portfolio of net lease properties from GE Capital for $807 million
NEW YORK (AP) -- American Realty Capital Properties Inc. is paying $807 million to GE Capital for some properties that are mostly leased to operators of restaurants such as IHOP, Burger King and Wendy's.
The deal includes a portfolio of 471 net lease properties.
New York-based American Realty said Friday that the transaction helps to diversify its net lease properties and is keeping in line with its plan to buy $1.1 billion of properties. The single tenant net lease real estate investment trust anticipates surpassing that mark by the second quarter's end — five months earlier than expected.
On Tuesday American Realty announced that it was buying fellow REIT CapLease in a deal the companies valued at about $2.2 billion.
