SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): February 1, 2013 (January 31, 2013)
American Realty Capital Trust IV, Inc.
(Exact Name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction of Incorporation)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Item 2.01. Completion of Acquisition or Disposition of Assets.
On January 31, 2013, American Realty Capital Trust IV, Inc. (the “Company”) closed the acquisition of the fee-simple interest in a built-to-suit Newell Rubbermaid distribution facility located in Kent, Ohio at the purchase price listed below. The Company acquired the property through an indirect wholly owned subsidiary of its operating partnership. The seller of the property is identified below. The seller has no material relationship with the Company and the acquisition was not an affiliated transaction.
The Company funded 100% of the acquisition of the property with cash from its ongoing initial public offering.
The property is 100% leased to Rubbermaid Incorporated, a wholly owned subsidiary of Newell Rubbermaid Inc. (NYSE: NWL), the guarantor of the lease, which carries an investment grade credit rating, as determined by major credit rating agencies. The lease is net whereby the tenant is required to pay substantially all operating expenses, including all costs to maintain and repair the roof and structure of the building, in addition to base rent.
The following table provides information about the property relating to the seller, lease commencement and termination dates, rentable square feet, annualized rental income, rental escalations, renewal options and the purchase price.
Item 9.01. Financial Statements
Set forth in this Item 9.01(a) are summary financial statements of Newell Rubbermaid Inc. as described under Item 2.01 of this Current Report on Form 8-K.
Newell Rubbermaid Inc. currently files its financial statements in reports filed with the U.S. Securities and Exchange Commission, and the following summary financial data regarding Newell Rubbermaid Inc. are taken from such filings:
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.