The Real Deal Miami

American Realty offers $5.7B for REIT

March 21, 2013 02:00PM

  • Print

Nicholas Schorsch American Realty

Phoenix-based Cole Credit Property Trust III has an offer of $5.7 billion from American Realty Capital Properties, the Wall Street Journal reported.

The bid puts a value on the REIT’s share price of at least $12; its current valuation is $10 a share, according to securities filings cited by the Journal. If the deal is successful, Cole’s value would rocket in value to more than $9 billion, American Realty said. [more]

MENU