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Maryland-based corporation announces acquisition

Making the decision to purchase or sell a business is a complicated and often stressful process. Those making the important decision want to make sure there is actually value in the proposed acquisition. In most cases, businesses work with qualified and experienced business attorneys in order to weigh all the pros and cons of a possible business transaction. If a business owner decides to sell, attorneys can help them understand their practical ability to collect the sales price and help them meet any obligations in terms of disclosure in order to avoid future liability to the buyer.

Recently, a publicly-traded Maryland corporation announced that it closed on the acquisition of a portfolio of five buildings. The buildings, located in Michigan, are free-standing single-tenant commercial properties that are being leased to an automotive aftermarket retailer. According to reports, the acquisition price totaled approximately $4.2 million.

The Maryland corporation, called American Realty Capital Properties, Inc., says it hopes to qualify as a real estate investment trust with a concentration on acquiring single-tenant commercial properties that are free standing. They want to work with "high-credit quality tenants."

The CEO of the Maryland corporation says the acquisition of the Michigan properties will increase their "total portfolio purchase price" to more than $145 million. The company says they are quickly acquiring properties following the secondary offering in November.

The automotive aftermarket retailed, called Advanced Auto Parts, is renting properties that total about 35,000 square feet. They have a "weighted average" of 7.5 years. Their rents total about $367,000, according the reports.

Source: MarketWatch, "American Realty Capital Properties, Inc. Announces Closing of $4.2 Million Advance Auto Portfolio Acquisition," Nov. 23, 2011

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