Market Overview

Spirit Realty Capital and Cole Credit Property Trust II Announce Merger

Spirit Realty Capital (NYSE: SRC) and Cole
Credit Property Trust II (“CCPT II”) announced today that their Boards
of Directors have unanimously approved a definitive agreement to merge
their companies to create the second largest publicly traded
triple-net-lease REIT in the United States with a pro forma enterprise
value of approximately $7.1 billion.

The combined company, which will retain the Spirit Realty name and trade
on the New York Stock Exchange under the ticker symbol “SRC,” will own
or have an interest in 2,012 properties in 48 states. It will have a
significantly enhanced scale and scope, a more broadly diversified
portfolio of high-quality real estate assets and enhanced access to
capital. The

See full press release

Posted-In: News Guidance Contracts Asset Sales Management M&A

 

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