The board of Phoenix-based Cole Real Estate Investments has worked out its differences with American Realty Capital Properties and agreed to be purchased for more than $7 billion.
Shareholders of both companies still need to approve the deal.
The combined company will become one of the nation’s biggest landlords, with 3,732 commercial properties totaling 100 million square feet of space. Combined, the two real estate investment trusts have 600 tenants that include Walgreen Co., CVS Caremark, Citizens Bank, Home Depot and FedEx.
Read more...American Realty buys Phoenix-based Cole Real Estate Investments for $7B
