Tags: American | Realty | Capital | CapLease

American Realty Capital to Buy CapLease in $2.2 Billion Deal

Tuesday, 28 May 2013 12:50 PM

American Realty Capital Properties Inc. said it would buy CapLease Inc. for about $2.2 billion, including debt, as the real estate investment trust looks to expand its single-tenant commercial properties.

ARCP said it would pay $8.50 per share in cash, representing a premium of about 20 percent to CapLease's Friday closing.

CapLease preferred shareholders will have the right to receive $25 per share in cash plus an amount equal to any accrued and unpaid dividends, ARCP said.

ARCP said it would assume about $580 million of CapLease's $1.2 billion of debt and intends to repay the balance.

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American Realty Capital Properties Inc. said it would buy CapLease Inc. for about $2.2 billion, including debt, as the real estate investment trust looks to expand its single-tenant commercial properties.
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2013-50-28
Tuesday, 28 May 2013 12:50 PM
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