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American Realty Capital has line up of acquisitions

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November 5
12:58 PM 2013

Currently, Nicholas Schorsch has his hands full, as his firm American Realty Capital Properties Inc, had nearly USD5 billion in takeovers and his share price declining by 20%. Now, the maverick CEO is making his largest real estate bet as of yet.

Last month, American Realty agreed to purchase Cole Real Estate Investments Inc for almost USD7 billion in a bid to become the largest US owner of single tenant buildings. The purchase is the country's biggest real estate purchase in the past two years comes after a failed attempt for the firm to purchase a Cole company just a few months ago.

CEO Schorsch's firm had nearly USD15 billion in future acquisitions at the end of the month. According to information from Bloomberg Industries, this includes Cole Real Estate Investments, which is based out of Phoenix, AZ.  Last May, American Realty agreed to purchase CapLease Inc for nearly USD2 billion. In July, it would be purchasing American Realty Capital Trust IV for a transaction value at USD3.1 billion. The CapLease deal is set to be completed this week.

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