American Realty Capital Properties Inc. is buying some properties from GE Capital that are mostly leased to operators of restaurants such as IHOP, Burger King and Wendy's.
The deal includes an $807 million portfolio of 471 net lease properties.
New York-based American Realty said Friday that the transaction helps to diversify its net lease properties and is keeping in line with its plan to buy $1.1 billion of properties. The single tenant net lease real estate investment trust anticipates surpassing that mark by the second quarter's end — five months earlier than expected.
On Tuesday American Realty announced that it was buying fellow REIT CapLease in a deal the companies valued at about $2.2 billion.
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