ARC’s Retail Centers of America Declares $9.00 NAV Per Share

March 16, 2016

Mar 15 2016 | By DI Wire

American Realty Capital — Retail Centers of America Inc., a publicly registered, non-traded real estate investment trust, announced that its board of directors approved an estimated net asset value of $9.00 per share of common stock. This is the first time that the board has determined an estimated per-share NAV for the company.

American Realty Capital Retail Advisor, the REIT’s advisor, engaged Duff & Phelps LLC, an independent third-party real estate advisory firm, to perform appraisals of the company’s real estate assets and to provide valuations of the company’s debt and remaining liabilities.

Duff & Phelps’ method complied with the Investment Program Association guidelines and included a range of $8.76 – $9.23 per share on a fully diluted basis. The midpoint in that range was $9.00.

American Realty Capital — Retail Centers of America commenced its initial public offering in March 2011 for up to 150 million shares of common stock at a price of $10.00 per share. The IPO closed in September 2014, but the company registered an additional 25 million shares of common stock to be used under its distribution reinvestment plan. The company offered DRIP shares at $9.50 per share.

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Gil Armour, CFP
February 3, 2016

I have been using Blue Vault Partners for the past five years.  I have found them to be a valuable, unbiased resource when it comes to evaluating and comparing non-traded REITs.  The reports help me analyze which sponsors are doing a responsible job of managing their offerings.  This allows me to limit my REIT recommendations to only the most competitive products, and then track those REITs throughout their life cycle.