Dallas, Texas 08/14/2014 (FINANCIALSTRENDS) – American Realty Capital Properties Inc (NASDAQ:ARCP) which has a market cap of $11.83 Billion recently announced its better than expected second quarter results, with $751.1 million in real estate assets, thanks to the recent management services it offers Cole Capital.
The focus of this realty player has been in the ownership and tenancy aspect of typically single-tenancies. It also works with freestanding commercial as well as real estate subjects as well. These are medium-term net leases and are worked with credit quality of tenants.
Second Quarter Results
American Realty Capital Properties Inc (NASDAQ:ARCP) has announced that the revenue rise by $382.0 million indicate the growth development of the company in the past year. The company also reported that its AFFO per share had also shown an increase by $0.24%, which was an increase of 26% for the same period of 2013.
The company has reported acquisition of $834.7 million in net lease, and has also proposed that $751.1 million in real estate assets due to management of Cole Capital management funds.
American Realty Capital Properties Inc (NASDAQ:ARCP) also announced that it has worked on its corporate governance and has invested in banking relationships with RCS Capital. It has also worked on building diversified intellectual leadership and has been able to achieve this by expanding its Board in 2014.
David S. Kay, President of ARCP commented that, “In six months, we have fully integrated the organization, achieved $38.0 million of the $77.0 million of cost synergies to come in the first year.” He also added that, “the reduced leverage, de-risked the balance sheet, lengthened debt maturities, created $11.8 billion of unencumbered assets and significantly extended and upsized our credit facility.”
However he commended the real estate team as it was able to build and close transaction on its own, bringing in small and large-scale sale-lease backs.