American Realty Capital Properties Inc. agreed to buy American Realty Capital Trust III Inc., a non-traded real estate investment trust, to expand its holdings of properties leased to single tenants.
American Realty Capital Trust III shareholders may receive $12 a share in cash or 0.95 of a share of American Realty Capital Properties, equal to $12.26 based on the Dec. 14 closing price, New York-based American Realty Capital Properties said in a statement today. The cash consideration will be capped at 30 percent of American Realty Capital Trust shares outstanding.
