American Realty Capital adds $275 million commitments, three lenders

By Susanna Moon

Chicago, April 2 - American Realty Capital Properties, Inc. said it received $275 million of new commitments from three new lenders under its senior corporate credit facility to allow for $3.15 billion of total financing under its credit facilities.

The company now has $729.2 million of aggregate available borrowing capacity in the form of undrawn commitments, according to a press release.

"We expect to have ample flexibility to fund our portfolio's expansion through singular and portfolio acquisitions," David S. Kay, president of the company, said in the press release.

"The increased commitments to our senior facility are a direct reflection of the credit quality of our portfolio, our lack of sensitivity to movements in interest rates, the lengthening of our debt maturities and our recent capital transactions which have increased our unencumbered assets, lowered our cost of debt and delevered our balance sheet."

American Realty is a self-managed New York-based company focused on acquiring and owning single tenant freestanding commercial properties subject to net leases with high credit quality tenants.

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