The American Realty Capital Trust Inc to filed plans to offer up to $87.3 million in stock in an initial public offering as the real estate investment trust's operating partnership looks to repay indebtedness and for general working capital purposes and the company is offering 6.6 million shares but didn't specify a price range in its filing with the Securities and Exchange Commission and the american Realty owns single-tenant free-standing retail, distribution warehouse and office properties that are primarily leased to investment grade-rated credit tenants, which include FedEx Corp. (FDX), Walgreen Co. (WAG) and CVS Caremark Corp. (CVS).
In Jan. 31, the company's property portfolio was 100% occupied and consisted of 485 properties located in 43 states and Puerto Rico. The company owns its properties through American Realty Capital Operating Partnership LP and owned nearly all of the outstanding operating partnership's units as of Dec 31 in the company will contribute the proceeds of the offering to its operating partnership in exchange for operating partnership units to the year ended Dec 31, American Realty's loss widened amid higher expenses, though revenue nearly tripled.
In Jan. 31, the company's property portfolio was 100% occupied and consisted of 485 properties located in 43 states and Puerto Rico. The company owns its properties through American Realty Capital Operating Partnership LP and owned nearly all of the outstanding operating partnership's units as of Dec 31 in the company will contribute the proceeds of the offering to its operating partnership in exchange for operating partnership units to the year ended Dec 31, American Realty's loss widened amid higher expenses, though revenue nearly tripled.
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