Lewis: American Realty acquisition on track

12/13/2012 | REIT.com

Realty Income's acquisition of American Realty Capital Trust is on track to be completed by the end of the year, said Tom Lewis, CEO of Realty Income, at REITWorld 2012: NAREIT's Annual Convention for All Things REIT. The transaction will be important to shareholders for several reasons, he says. "We'll add about 507 properties to the portfolio, and it will move us to about an $11.5 billion market cap. Most important is the quality of the cash flow. About 75 percent of the revenue that will come in from these properties is from investment-grade tenants."

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