Under GAAP, acquisition fees and expenses are characterized as operating expenses in determining operating net income. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows. The Company will fund repurchases from proceeds from the sale of common stock. limited and defined acquisition period and targeted exit strategy, and hence that the use of such measures is useful to investors. The fees that may be forgiven are not deferrals and accordingly, will not be paid to the Advisor or Property Manager in cash or otherwise. Investors should note, however, that determinations of whether impairment charges have been incurred are based partly on anticipated operating performance, because estimated undiscounted future cash flows from a property, including estimated future net rental and lease revenues, net NEW YORK, Sept. 5, 2013 /PRNewswire/ -- American Realty Capital Trust V, Inc. ("ARCT V") announced today that it is has assembled a combined asset portfolio of $2.2 billion as of August 31,. This charter limitation, however, does not apply to individual real estate assets or investments. 333-187092), filed with the SEC under the Securities Act of 1933, as amended. The Registration Statement also covers up to 14.7 million shares of common stock available pursuant to a distribution reinvestment plan (the DRIP) under which our common stockholders may elect to have their distributions reinvested in additional shares of our common stock. This fee will be payable only upon the sale of assets, distributions or other event which results in the return on stockholders' capital exceeding update disclosure relating to our exit strategy; update disclosure relating to our estimated use of proceeds; update disclosure relating to our investment objectives; update disclosure relating to our affiliates; update disclosure relating to our management compensation; update Appendix C-1Subscription Agreement and Appendix C-2Multi-Offering Subscription Agreement; and. Thus, we will not continuously purchase assets and will have a limited life. Realty Income, The Monthly Dividend Company, (NYSE: O), and American Realty Capital Trust(NASDAQ: ARCT) are pleased to announce the acquisition of ARCT by Realty Income has closed.. The use of FFO is recommended by the REIT industry as a supplemental performance measure. consider more reflective of investing activities and other non-operating items included in FFO and also excludes acquisition fees and expenses that affect our operations only in periods in which properties are acquired, MFFO can provide, on a going forward basis, an indication of the sustainability (that is, the capacity to continue to be maintained) of our operating performance after the period in which we are acquiring our properties and once our portfolio is in place. No such asset management services were performed by the Advisor during the period Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. debt in the future. This cash outflow was offset by an increase of approximately $29,000 in accounts payable and accrued expenses related to professional fees and board member compensation. We have no employees. We may be deemed to be an investment company under the Investment Company Act of 1940, as amended, and thus subject to regulation under the Investment Company Act of 1940, as amended. We are required to make subjective assessments as to the useful lives of properties for purposes of determining the amount of depreciation to record on an annual basis with respect to investments in real estate. In calculating MFFO, we exclude acquisition related expenses, amortization of above and below market leases, fair value adjustments of derivative financial instruments, deferred rent receivables and the adjustments of such items related to noncontrolling interests. In order to improve operating cash flows and the ability to pay distributions from operating cash flows, the Advisor and Property Manager may elect to waive certain fees. on our consolidated financial position, results of operations or cash flows. We do not expect the adoption of this guidance to have a material impact on our consolidated financial position, results of operations or cash flows. Yes o No x. 4, is part of the prospectus of American Realty Capital Trust V, Inc., or the Company, dated April 4, 2013, or the Prospectus, as supplemented by Supplement No. We intend to elect to be taxed as a REIT under Sections 856 through 860 of the Code, effective for our taxable year ending December 31, 2013. Deferred costs consist of deferred offering costs. The Advisor and its affiliates may incur and pay costs and fees on behalf of the Company. In February 2013, the FASB issued guidance which requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. 1, dated April 10, 2013, or Supplement No. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that is attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. In February 2013, the FASB issued guidance clarifying the accounting and disclosure requirements for obligations resulting from joint and several liability arrangements for which the total amount under the arrangement is fixed at the reporting date. By providing MFFO, we believe it is presenting useful information that assists investors and analysts to better assess the sustainability of our operating performance after our IPO has been completed and our properties have been acquired. costs, general and administrative expenses, and interest costs, which may not be immediately apparent from net income. Our Advisor will consider various factors in determining the amount of liquid assets we should maintain, including but not limited to our receipt of proceeds from sales of additional calculates NAV, to per share NAV. The adoption of this guidance, which is related to disclosure only, did not have a material impact Cumulative offering costs, net of unpaid amounts, exceeded the 15.0% threshold by $0.7 million as of March 31, 2013. Assuming that we incur leverage up to 45% of the aggregate fair market value of our assets, as set forth in our investment guidelines, the minimum and maximum aggregate acquisition expenses would be $32,182 and $27,354,545, respectively. The guidance is effective for fiscal years and interim periods beginning on or after January 1, 2013 with retrospective application for all comparative periods presented. This is the first report required to be filed by Section 13 or 15(d) of the Securities and Exchange Act since that date. We may directly pay third parties for third party acquisition expenses, and our advisor or its affiliates may incur expenses for third party services, in each case from time to time. On such date, the Company received and accepted aggregate subscriptions equal to the minimum of $2.0 million in shares of common stock, broke escrow and issued shares to its initial investors who were admitted as stockholders. Upon termination or non-renewal of the advisory agreement with or without cause, the Special Limited Partner will be entitled to receive distributions from the OP equal to 15.0% of the amount by which the sum of the Company's market value plus distributions exceeds the sum of the aggregate capital contributed by investors plus an amount equal to an annual 6.0% cumulative, pre-tax, non-compounded return to investors. Selling commissions and dealer manager fee, Acquisition expenses include both third party acquisition expenses and insourced acquisition expenses. standardized a measure known as MFFO, which the IPA has recommended as a supplemental measure for publicly registered non-listed REITs and which we believe to be another appropriate supplemental measure to reflect the operating performance of a non-listed REIT having the characteristics described above. and qualifying as a. hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. See the organizational chart in this section below. billion in total portfolio assets or April 4, 2015, the per share purchase price will vary quarterly and will be equal to the NAV divided by the number of shares outstanding as of the end of business on the first day of each fiscal quarter after giving effect to any share purchases or repurchases effected in the prior quarter or per share NAV. of A m e ri c a n R e a l t y C a pi t a l Trus t V, Inc ., a M a ryl a nd c orpora t i on (t o be re na m e d A m e ri c a n F . We do not intend to fund such distributions from offering proceeds, however, if we have not generated sufficient cash flow from our operations and other sources, such as from borrowings, advances from our Advisor, our Advisor's deferral, suspension and/or waiver of its fees and expense reimbursements, to fund distributions, we may use the offering proceeds. Set forth below is a summary of the significant accounting estimates and critical accounting policies that management believes are important to the preparation of our financial statements. However, pursuant to the advisory agreement, our advisor is required to devote sufficient resources to our administration to discharge its obligations. We will depend on tenants for our revenue and, accordingly, our revenue is dependent upon the success and economic viability of our tenants. The restricted Class B Units shall not be convertible into unrestricted Class B Units until such time as the adjusted market value of the OP's assets plus applicable distributions equals the sum of the aggregate capital contributed by investors plus an amount equal to an annual 6.0% cumulative, pre-tax, non-compounded return to investors and only at such time as the capital account associated with a restricted Class B Unit equals the capital account of an unrestricted Class B Unit. We expect to use substantially all of the net proceeds from our IPO to primarily acquire a diversified portfolio of income producing real estate properties, focusing primarily on acquiring freestanding, single-tenant bank branches, convenience stores, office, industrial and retail properties net leased to investment grade and other creditworthy tenants. AMERICAN REALTY CAPITAL TRUST V, INC. 80,000 s h are s of c ommon s toc k mi n i mu m offe r i n g 68,000,000 s h are s of c ommon s toc k maxi mu m offe r i n g American Realty Capital Trust V, Inc. is a Maryland corporation formed on January 22, 2013 to acquire primarily freestanding single tenant retail properties net . Nareit's members are REITs and other businesses throughout the world that own, operate, and . contemplated by such forward-looking statements. Our MFFO calculation complies with the IPA's Practice Guideline described above. As of March 31, 2013, no shares of common stock have been repurchased. These members share responsibility for overseeing key management functions, including general management, investing, asset management, financial reporting, legal and MFFO that excludes such costs and expenses would only be comparable. As of April 30, 2013, the registrant had 226,338 shares of common stock outstanding. In no event will the total of all acquisition fees, acquisition expenses and any financing coordination fees (as described below) payable with respect to a particular investment exceed 4.5% of the contract purchase price New York, New York, May 6, 2013 American Realty Capital Trust V, Inc. ("ARCT V") announced today that it closed on its first two acquisitions - two build-to-suit Dollar General stores located in Mission, Texas and Sullivan, Missouri.The purchase price of the properties was $2.2 million, exclusive of . o Fee computed on table below per Exchange Act Rules 14a-6 (i) (4) and 0-11. 06/18/2015 | 12:00am EDT On June 18, 2015, American Realty Capital Trust V, Inc changed its name to American Finance Trust, Inc. S&P Capital IQ 2015 All news about THE NECESSITY RETAIL REIT, INC. More news Financials (USD) There is no assurance that such funds will be available, or if available, that the terms will be acceptable to us. Because we have not acquired any properties or other assets as of March 31, 2013, our management is not aware of any material trends or uncertainties, favorable or unfavorable, other than national economic conditions affecting our targeted portfolio, the retail real estate industry and real estate generally, which may be reasonably anticipated to have a material impact on the capital resources and the revenue or income to be derived from the operation of our assets. The guidance is effective for annual and interim periods beginning after December 15, 2012 with early adoption permitted. AMERICAN REALTY CAPITAL TRUST V, INC. (Exact name of Registrant as specified in its charter) _________________________ 405 Park Avenue New York, New York 10022 (Address of principal executive offices, including zip code) (212) 415-6500 (Registrant's telephone number, including area code) (Former name or former address, if changed since last report) There are no restrictions on the shares issued since these payments in lieu of cash relate to fees earned for services performed. In determining the amortization period for below-market lease intangibles, we initially will consider, and periodically evaluate on a quarterly basis, the likelihood that a lessee will execute the renewal option. These conflicts could result in unanticipated actions. There are no established limits on the amounts of net proceeds and borrowings that we may use to fund such distribution payments. The Company is externally managed by American Realty Capital Advisors V, LLC (our Advisor), MFFO is not equivalent to our net income or loss as determined under GAAP, and MFFO may not be a useful measure of the impact of long-term operating performance on value if we do not continue to operate with a limited life and targeted exit strategy, as currently intended. As disclosed elsewhere in the Prospectus, the purchase of properties, and the corresponding expenses associated with that process, is a key operational feature of our business plan to generate operational income and cash flows in order to make distributions to investors. This limitation, however, will not apply to individual real estate assets or investments. statement on Form S-11, as amended (File No. As of March 31, 2013, $0.4 million was payable to affiliated entities for advances received to fund the payment of third party professional fees and offering costs. offering, which it believes is adequate and structured in a manner to handle sales for all of the offerings for which it is the dealer manager. amortized as an increase to rental income over the remaining term and any fixed rate renewal periods provided within the respective leases. American Realty Capital Trust V Makes First Two Acquisitions . Our Advisor may also defer, suspend The total number of shares of common stock granted under the RSP shall not exceed 5.0% of the Company's outstanding shares of common stock on a fully diluted basis at any time and in any event will not exceed 3.4 million shares (as such number may be adjusted for stock splits, stock dividends, combinations and similar events). In 2017, American Finance Trust (originally American Realty Capital Trust V) merged with American Realty Capital - Retail Centers of America. Actual results may differ materially from those We sold 8,888 shares of common stock to our Special Limited Partner, an entity wholly owned by our Sponsor, under Rule 506 of Regulation D of the Securities Act of 1933, as amended, at a price of $22.50 per share for gross proceeds of $0.2 million during the period from January 22, 2013 (date of inception) to March 31, 2013. On the day the Company commences its IPO, deferred offering costs will be reclassified to stockholders' equity. FFO and MFFO are not useful measures in evaluating net asset value because impairments are taken into account in determining net asset value but not in determining FFO or MFFO. Additionally, we believe it is appropriate to disregard impairment charges, as this is a fair value adjustment that is largely based on market fluctuations and assessments regarding general market conditions which can change over time. On April 4, 2013, the Company commenced its initial public offering (the IPO) on a reasonable best efforts basis of up to 68.0 million shares of common stock, $0.01 par value per share, at a price of $25.00 per share, subject to certain volume and other discounts, pursuant to a registration Our board of directors may reduce the amount of distributions paid or suspend distribution payments at any time and therefore distribution payments are not assured. As of March 31, 2013, the Company had not reached such threshold, purchased any properties or earned any income. As noted above, MFFO may not be a useful measure of the impact of long-term operating performance on value if we do not continue to operate in this manner. Our dealer manager may face conflicts of interest arising from potential competition with these other programs for investors and Consolidated Balance Sheet as of March 31, 2013 (Unaudited), Consolidated Statement of Operations and Comprehensive Loss for the Period from January 22, 2013 (date of inception) to March 31, 2013 (Unaudited), Consolidated Statement of Stockholders' Equity for the Period from January 22, 2013 (date of inception) to March 31, 2013 (Unaudited), Consolidated Statement of Cash Flows for the Period from January 22, 2013, Notes to Consolidated Financial Statements (Unaudited). Our management uses MFFO and the adjustments used to calculate it in order to evaluate our performance against other non-listed REITs which have limited lives with short and defined acquisition periods and targeted exit strategies shortly thereafter. FFO is not equivalent to net income or loss as determined under accounting principals generally accepted in the United States (GAAP). distributions paid or suspend distribution payments at any time and therefore distributions payments are not assured. partnership interest from our operating partnership. On such date, we received and accepted aggregate subscriptions equal to the minimum of $2.0 million in shares of common stock, broke escrow and issued shares of common stock to our initial investors who were admitted as stockholders. of the operating performance of other real estate companies that are not as involved in acquisition activities. During the period from January 22, 2013 (date of inception) to March 31, 2013, we received proceeds from the sale of common stock of $0.2 million and advances from affiliates of $0.4 million to fund the payment of third party offering costs. The following are some of the risks and uncertainties, although not all risks and uncertainties, that could cause our actual results to differ materially from those presented in our forward-looking statements: We were incorporated on January 22, 2013 as a Maryland corporation that intends to qualify as a REIT for U.S. federal income tax purposes beginning with the taxable year ending December 31, 2013. We may not generate cash flows sufficient to pay our distributions to stockholders, as such we may be forced to borrow at higher rates or depend on our Advisor to waive reimbursement of certain expenses and fees to fund our operations. Under various agreements, the Company has engaged or will engage the Advisor and its affiliates to provide certain services that are essential to the Company, including asset management services, supervision of the management and leasing of properties owned by the Company, asset acquisition and disposition decisions, the sale of shares of the Company's common stock available for issue, as well as other administrative responsibilities for the Company including accounting services and investor relations. The historical accounting convention used for real estate assets requires straight-line depreciation of buildings and improvements, which implies that the value of real estate assets diminishes predictably over time, especially if such assets are not adequately maintained or repaired and renovated as required by relevant circumstances and/or is requested or required by lessees for operational purposes in order to maintain the value disclosed. By excluding expensed acquisition costs, the use of MFFO provides information consistent with management's analysis of the operating performance of the properties. If we raise substantially less than the maximum offering in our IPO, we may not be able to invest in a diversified portfolio of real estate assets and the value of an investment in us may vary more widely with the performance of specific assets. As a result, our dealer manager will have competing demands on its time and resources. The following exhibits are included, or incorporated by reference, in this Quarterly Report on Form 10-Q for the period from January 22, 2013 (date of inception) to March 31, 2013 (and are numbered in accordance with Item 601 of Regulation S-K). No such fees have been incurred during the period from January 22, 2013 (date of inception) to March 31, 2013. The Advisor and the Property Manager are wholly owned subsidiaries of, and the Dealer Manager is under common ownership with, our sponsor, AR Capital, LLC (the Sponsor), as a result of which they are related parties and each of which will receive compensation, fees and other expense No such fees were incurred during the period from January 22, 2013 (date of inception) to March 31, 2013. Improvements and replacements will be capitalized when they extend the useful life of the asset. On April 4, 2013, we commenced our IPO on a reasonable best efforts basis of up to 68.0 million shares of common stock, $0.01 par value per share, at a price of $25.00 per share, subject to certain volume and other discounts, pursuant to the Registration Statement on Form S-11, as amended (File No. In the future, the SEC, NAREIT or another regulatory body may decide to standardize the allowable adjustments across the non-listed REIT industry and we would have to adjust our calculation and characterization of FFO or MFFO. the underlying restricted shares. expenses, due diligence expenses, personnel expenses, acquisition-related administrative and advisory expenses, survey, property, contract review expenses, travel and communications expenses and other closing costs, as applicable, regardless of whether we acquire the investment. The Company received and accepted aggregate subscriptions in excess of the minimum $2.0 million, broke escrow and issued shares of common stock to the Company's initial investors who were admitted as stockholders. (1) three to six months). Our transfer agent is a related party which was recently launched as a new business. 2, and Supplement No. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). We are offering and selling to the public in our primary offering up to 68.0 million shares of our common stock, $0.01 par value per share, until the first quarter following the earlier of our acquisition of at least $1.4 billion in total portfolio assets and April 4, 2015, at a price of $25.00 per share (including the maximum allowed to be charged for commissions and fees). An entity will no longer be required to calculate the fair value of an indefinite-lived intangible asset and perform the quantitative test unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. Publicly registered, non-listed REITs typically have a significant amount of acquisition activity and are substantially more dynamic during their initial years of investment and operation. the restricted shares have lapsed. After the escrow break, our Advisor has elected to cap cumulative offering costs incurred by us, net of unpaid amounts, to 15.0% of gross common stock proceeds during the offering period. cumulative, pre-tax, non-compounded return on their capital contributions. In addition, the sum of the cost of the Company's assets multiplied by 0.1875% for a calendar year plus the amounts payable as an oversight fee for such calendar year, shall not be less than 0.75% of the cost of assets for such calendar year. Our principal demands for funds will continue to be for property acquisitions, including the purchase price of any properties, loans and securities we acquire, improvement costs, the payment of our operating and administrative expenses, continuing debt service obligations and distributions to our stockholders. Our dealer manager believes its sales team is adequate and structured in a manner to handle sales for all of the offerings for which it is the dealer manager, including those offerings that are currently in registration or that were recently declared effective, without adversely affecting its ability to act as As of March 31, 2013, we had not yet commenced active operations. Our advisor is responsible for a pro rata portion of each employees compensation based upon the approximate percentage of time the employee dedicates to our advisor. Because investment opportunities that are suitable for us may also be suitable for other American Realty Capital advised investment programs, our Advisor and its affiliates face conflicts of interest relating to the purchase of properties and other investments and such conflicts may not be resolved in our favor, meaning that we could invest in less attractive assets, which could reduce the investment return to our stockholders. This Supplement No. Due to the above factors and other unique Tangible assets include land, land improvements, buildings, fixtures and tenant improvements on an as-if vacant basis. Yes x No o.
Vegetable Platters Near Me, Rose Gold Wishbone Ring | Pandora, Madewell Floral Bikini, Ps4 Wifi Card Replacement, Mismatched Stud Earring Set, Tonka Mighty Metal Fleet Garbage Truck,
agile project management in telecommunications