American Realty Capital – Retail Centers of America Inc., a publicly registered, non-traded real estate investment trust sponsored by AR Capital, announced that they have fully invested the proceeds raised through its primary offering.
As of June 30, 2015, the company’s portfolio consisted of 28 geographically diversified, retail properties which were acquired for approximately $905 million, including seven retail centers acquired during the second quarter of 2015 for $176 million. The portfolio includes core retail properties located throughout the United States, including lifestyle centers and power centers.
Kase Abusharkh, chief investment officer of RCA, commented, “We are pleased to have fully invested the equity capital raised in a diversified portfolio of stabilized, core retail properties which are approximately 96 percent leased to national and regional tenants.”
American Realty Capital – Retail Centers of America began raising capital in March 2012 and completed its non-listed, initial public offering in September 2014. During the term of the offering, RCA raised more than $900 million in total equity resulting from the sale of more than 90 million shares.