American Realty Capital Properties, Inc. is a real estate investment trust (REIT). The Company owns and acquires single-tenant, freestanding commercial real estate that is net leased on a medium-term basis, to investment grade credit rated and other creditworthy tenants. Its business is conducted through ARC Properties Operating Partnership, L.P. It is managed by its affiliates ARC Properties Advisors, LLC (the Manager) and AR Capital, LLC. In April 2013, it closed lease acquisitions, including nine properties located in four states plus Puerto Rico with approximately 200,000 total rentable square feet. In April 2013, it closed an additional single tenant net lease acquisitions, including six properties leased to four investment grade or credit-worthy tenants, including CVS, Family Dollar, Hy-Vee and Advance Auto.