On February 26, 2013, it was announced that the merger between the non-traded REIT American Realty Capital Trust III and the traded REIT American Realty Capital Partners Inc. was approved. This merger was first announced in December 2012.
As a result of the merger each outstanding shareholder of American Realty Capital III common stock can choose to receive $12 per share in cash or 0.95 shares of American Realty Capital Properties Inc., which trades under the ticker symbol ARCP.
In a statement, investors who owned about 15.5% of the non-traded REIT’s common stock have indicated they will chose cash in a transaction expected to be completed on February 28, 2013.
Jason Doss is the owner of The Doss Firm, LLC, an Atlanta-based law firm devoted to representing consumers across the country in a variety of areas including investment disputes and consumer class action litigation. Mr. Doss earned his J.D. from Florida State University in 2002 and his B.A. from the University of Florida in 1997.