{"id":1004075339,"date":"2013-06-03T09:53:50","date_gmt":"2013-06-03T17:53:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004075339"},"modified":"2022-12-06T21:40:17","modified_gmt":"2022-12-07T05:40:17","slug":"schorsch-strikes-again-with-second-ge-net-lease-deal-for-1-5b","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/schorsch-strikes-again-with-second-ge-net-lease-deal-for-1-5b\/","title":{"rendered":"Schorsch Strikes Again with Second GE Net Lease Deal for $1.5B"},"content":{"rendered":"

By Anna Spiewak, News Editor<\/em><\/p>\n

\"\"<\/a><\/p>\n

Nicholas Schorsch\u2019s company is on a shopping spree this past week, with no immediate end in sight. As the ink is still drying from a Friday deal ARCP closed with GE Capital on the purchase of an $807 million portfolio of 471 net lease properties<\/a>, today its affiliate American Realty Capital Trust IV announced agreeing to buy from GE a 986-property retail portfolio for $1.45 billion. The deal comes on the heels of ARCP announcing early last week the purchase of CapLease for $2.2 billion<\/a>.<\/p>\n

Similar to Friday\u2019s deal, today\u2019s purchase agreement entails retail-concentrated tenants, including popular fast-food restaurants such as Wendy\u2019s, Applebee\u2019s, Burger King, Pizza Hut, KFC, Taco Bell, among others. The portfolio is mostly made up of long-term leases, with the weighted average remaining lease duration of 10.6 years.<\/p>\n

\u201cThis acquisition exemplifies our focus on building one of the best-in-class, lowest leveraged, long-term, retail focused net lease portfolios in the REIT industry\u2019s history,\u201d said Schorsch in a news release. \u201cThe completion of our acquisition program positions us to commence our active review of strategic alternatives in a market that has proved extremely supportive to net lease companies.\u201d<\/p>\n

ARCT IV plans to finish its initial purchase stage in the next 60 days, with an assembled portfolio of around $2.3 billion, which entails the newly acquired $1.45 billion GE Capital portfolio, and $590 million of previously acquired properties. The REIT plans to conclude the major portion of GE Capital purchase within 30 days, using existing proceeds from its recently completed $1.7 billion equity raise, in addition to some portion of its $750 million recently announced commitments, as needed, per release.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

American Realty Capital Trust IV announced agreeing to buy from GE a 986-property retail portfolio for $1.45 billion.<\/p>\n","protected":false},"author":952,"featured_media":1004075342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004075339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest"],"acf":[],"yoast_head":"\nSchorsch Strikes Again with Second GE Net Lease Deal for $1.5B - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/schorsch-strikes-again-with-second-ge-net-lease-deal-for-1-5b\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Schorsch Strikes Again with Second GE Net Lease Deal for $1.5B\" \/>\n<meta property=\"og:description\" content=\"American Realty Capital Trust IV announced agreeing to buy from GE a 986-property retail portfolio for $1.45 billion.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/schorsch-strikes-again-with-second-ge-net-lease-deal-for-1-5b\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-06-03T17:53:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T05:40:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/06\/ARCP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2883\" \/>\n\t<meta property=\"og:image:height\" content=\"2144\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schorsch-strikes-again-with-second-ge-net-lease-deal-for-1-5b\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schorsch-strikes-again-with-second-ge-net-lease-deal-for-1-5b\\\/\"},\"author\":{\"name\":\"Anna Spiewak\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"headline\":\"Schorsch Strikes Again with Second GE Net Lease Deal for $1.5B\",\"datePublished\":\"2013-06-03T17:53:50+00:00\",\"dateModified\":\"2022-12-07T05:40:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schorsch-strikes-again-with-second-ge-net-lease-deal-for-1-5b\\\/\"},\"wordCount\":282,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schorsch-strikes-again-with-second-ge-net-lease-deal-for-1-5b\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/06\\\/ARCP.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schorsch-strikes-again-with-second-ge-net-lease-deal-for-1-5b\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schorsch-strikes-again-with-second-ge-net-lease-deal-for-1-5b\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/schorsch-strikes-again-with-second-ge-net-lease-deal-for-1-5b\\\/\",\"name\":\"Schorsch Strikes Again with Second GE Net Lease Deal for $1.5B - 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