Merger of Nicholas Schorsch's American Realty Capital Properties and Cole Real Estate Investments closes

Combined company is the largest publicly traded net-lease REIT, with value of $21.5B
MAR 13, 2014
One of the largest-ever mergers of real estate investment trusts, engineered by industry czar Nicholas Schorsch, has been completed. American Realty Capital Properties Inc.'s acquisition of Cole Real Estate Investments Inc., which closed Friday, creates the largest REIT of its kind. Shareholders approved the deal last month. Mr. Schorsch, chief executive of real estate firm American Realty Capital, first pursed the Cole REIT in March but was initially rebuffed. It then listed in June on the New York Stock Exchange, and he renewed his efforts to merge the two. The combined investment company is the largest publicly traded net lease REIT with an enterprise value of $21.5 billion. The net-lease REIT buys commercial real estate, and collects rent and other fees from tenants.

Latest News

The Stacking Strategy: How Intelligent Allocation Can Create Better Tax Outcomes
The Stacking Strategy: How Intelligent Allocation Can Create Better Tax Outcomes

What if one investment decision could create tax-saving opportunities across your entire portfolio? Chris Vizzi shares how the Stacking Strategy helps investors align tax planning, portfolio construction, and wealth preservation to maximize long-term outcomes while keeping more of what they earn.

AI could drag down RIA valuations, warns Alaris CEO Allen Darby
AI could drag down RIA valuations, warns Alaris CEO Allen Darby

Buyers spending on AI may treat less efficient sellers as overstaffed and price the cost of rightsizing into lower offers

Former Western Asset Management star bond manager fined $3 million
Former Western Asset Management star bond manager fined $3 million

Kenneth Leech pleaded guilty in June to one obstruction charge, and could face six to 12 months ⁠in ​prison.

Morningstar rolls out agentic AI platform built on its research
Morningstar rolls out agentic AI platform built on its research

Launch of Direct AI follows a model portfolio tie-up with Envestnet as advisors juggle AI adoption and private-market due diligence.

Advisor moves: Osaic draws Equitable advisor overseeing $245 million in assets
Advisor moves: Osaic draws Equitable advisor overseeing $245 million in assets

Meanwhile, Cetera's streak of Commonwealth recruitment continues in Washington, and an LPL advisor hops over to Raymond James in Maine.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor