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Inland sells $2.3B portfolio to AR Capital

Aug 09, 2013 - The Deal Pipeline

AR Capital LLC said Friday it would acquire a portfolio of 294 commercial properties from Inland American Real Estate Trust Inc. in a cash-and-debt deal valued at $2.3 billion.

Terms of the deal call for New York-based AR Capital to assume $795.3 million in debt for the portfolio of retail, office and industrial assets. Inland said it expects to realize up to $1 billion in net proceeds from the sale after repaying about $360.9 million in debt, with the Oakbrook, Ill.-based company sayin...