ARCP Profile
American Realty Capital Properties, Inc. (ARCP) was a real estate investment trust (REIT) that focused on acquiring and owning single-tenant, freestanding commercial real estate properties in the United States. The company was founded in 2011 and was based in New York City. ARCP's portfolio primarily consisted of retail, office, and industrial properties, with tenants ranging from convenience stores to corporate headquarters.
In 2014, ARCP was hit with an accounting scandal that led to the resignation of its CEO and the discovery of $3 billion in accounting errors. The scandal led to a significant drop in ARCP's stock price and a loss of investor confidence. In an effort to restore investor confidence, ARCP changed its name to Vereit, Inc. in 2015 and implemented significant corporate governance reforms.
Vereit continued to own and manage single-tenant commercial properties, but also expanded its focus to include multi-tenant properties and properties in Europe. The company was acquired by Realty Income Corporation in 2021, and its properties were integrated into Realty Income's portfolio.
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