ARCP Begins Offer For CCPT Shares - Quick Facts

(RTTNews) - American Realty Capital Properties Inc. (ARCP), through a recently formed wholly-owned subsidiary, Desert Acquisition, Inc., said it has commenced an offer to buy all the shares of Cole Credit Property Trust, Inc. or "CCPT" for $7.25, net to the seller in cash, without any interest, and subject to any required withholding tax. The offer would expire at 12:00 midnight New York City time on April 25, 2014, unless it is extended.

The CCPT board unanimously determined to urge that the CCPT stockholders tender their shares in response to the offer. The offer is subject to certain conditions in addition to the Minimum Tender Condition, including the receipt of certain third-party consents.

Regarding the offer, Cole Capital Corporation is the Information Agent and DST Systems, Inc. is the Depositary. Proskauer Rose LLP and Venable LLP are acting as legal counsel to ARCP and Morris, Manning & Martin, LLP and Miles & Stockbridge P.C. are acting as legal counsel to CCPT pertaining to the transaction.