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Spirit Realty, CCPT II Complete $7.4B Merger

PHOENIX-Six months after signing a definitive agreement, the merger between the two companies has been completed. The stock under the new company name, Spirit Realty Capital, begins trading on the NYSE today.

By Amy Wolff Sorter | Updated on July 17, 2013

PHOENIX-Six months after announcing their merger, Spirit Realty Capital Inc. and Cole Credit Property Trust II Inc. have finalized the $7.4 billion agreement, with the new company operating under the Spirit Realty Capital brand name. The stock, operating under the ticker symbol SRC, will begin trading today on the New York Stock Exchange.

The transaction was previously approved by both companies’ stockholders at meetings that took place on June 12. The combined company is one of the largest publicly traded net-lease real estate investment trusts (REITs) in the United States, owning approximately 1,900 properties in 48 states. As a result of the merger, the company also has significantly enhanced scale and scope, a more diversified portfolio of high-quality real estate assets and enhanced access to capital.

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