American Realty Capital Trust, Inc. is a real estate investment trust formed to acquire a diversified portfolio of commercial real estate, primarily freestanding single tenant properties net leased to tenants on a long-term basis. It acquires and operates commercial properties. All such properties may be acquired and operated by it alone or jointly with another party. As of March 31, 2012, it owned 485 properties with 15.6 million square feet, 100% leased with a weighted average remaining lease term of 13.3 years. As of March 31, 2012, all of the properties it owned were 100% leased. As of April 30, 2012, 75% of its annualized rental income on a straight-line basis, including annualized rents for properties acquired as of March 31, 2012, were derived from investment grade tenants. In January 2012, it acquired properties including Tractor Supply V and Tractor Supply VI. In August 2012, it purchased 10 properties with approximately 60,000 leasable square feet located in five states.