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ARCT Files Plans for $87M IPO

NEW YORK CITY-The REIT—which focuses on net-leasing pharmacies, banks, restaurants and convenience stores in high-traffic locations to high credit quality tenants—will be the first non-traded REIT to experience an exit since 2008, according to an ARCT spokesman.

By Jacqueline Hlavenka | Updated on February 15, 2012

NEW YORK CITY-American Realty Capital Trust filed plans to raise $87.3 million for an initial public offering and plans to offer 6.6 million shares of its common stock, SEC filings show. The move is part of a plan for the company to become a self-administered real estate investment trust and internalize the management services currently provided by American Realty Capital Advisors, LLC. 

The non-traded REIT focuses on net-leasing pharmacies, banks, restaurants and convenience stores in high-traffic locations to high credit quality tenants.

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