September 7, 2016 Comments Off on ARC-Retail Centers of America Under Contract for $1.4B Views: 1568 National News, New York News, Northeast

ARC-Retail Centers of America Under Contract for $1.4B

New York-based American Finance Trust Inc. announced it will acquire American Realty Capital – Retail Centers of America Inc. for $1.4 billion. The acquisition will create a diversified retail REIT valued at approximately $3.9 billion.

Upon closing, AFIN’s portfolio will consist of 494 properties, aggregating approximately 20.8 million square feet. The merger will also help boost AFIN’s access to capital markets, provide lower leverage with manageable near-term debt maturities, and will provide liquidity to help fund future acquisitions.

The transaction is expected to close in Q1 2017.

Read More at PR Newswire

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