Nontraded REIT and traded REIT seal deal

American Capital Properties REIT merger OK'd

By Bruce Kelly

Feb 26, 2013 @ 2:42 pm (Updated 2:48 pm) EST

REIT, nontraded REIT, real estate investment trust

Shareholders of nontraded real estate investment trust American Realty Capital Trust III and traded REIT American Realty Capital Partners Inc. on Tuesday announced their approval of their merger, which had been announced in December.

Each outstanding shareholder of American Realty Capital III common stock can choose to receive $12 per share in cash or 0.95 shares of American Realty Capital Properties Inc., which trades under the ticker symbol ARCP. Those shares were trading at $14.30 on Tuesday afternoon.

Investors who owned about 15.5% of the nontraded REIT's common stock have indicated they will chose cash, the companies said in a statement. The transaction is expected to be completed by the end of day on Feb. 28.

  @IN Wire

Apr 16 04:54PM
Cool infographic on robo advisers + story + google hangout: http://t.co/pg34RksmzN
Apr 16 04:39PM
Quantity does not equal quality: Expanding 'disclosure events' on BrokerCheck a bad idea http://t.co/BVfmEpvivA

Career Center

Explore your opportunities and be informed for your next move.

Company Type
Firm Type
Clearing Firm
Presented by