Cole Real Estate Investments
After Cole Real Estate Investments rejected American Realty Capital Properties’ multiple acquisition offers earlier this year, the firm signed a definitive agreement in October to merge the two companies in a deal valued at $11.2 billion. The merger creates the largest net lease REIT in the country, with an enterprise value of $21.5 billion, according to National Real Estate Investor. (Cole CEO Marc Nemer is pictured here on left, shaking hands with Schorsch.)
The deal came six months after American Realty Capital had tried to buy the same entity. Then, American Realty Capital attempted to purchase Cole Credit Property Trust III Inc. (CCPT III) for $9 billion. That offer was rebuffed and instead CCPT III acquired Cole Holdings Corp., a real estate investment management firm, changed its name to Cole Real Estate Investments and announced plans to pursue a listing on the New York Stock Exchange. Cole completed its IPO in late June.