Attached files
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| EX-10.15 - New York REIT Liquidating LLC | v198356_ex10-15.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date of Report (Date of earliest event
reported): October 1, 2010
American
Realty Capital New York Recovery REIT, Inc.
(Exact
Name of Registrant as Specified in Charter)
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Maryland
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333-163069
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27-1065431
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(State
or other jurisdiction
of
incorporation or organization)
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(Commission
File Number)
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(I.R.S.
Employer
Identification
No.)
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405
Park Avenue
New
York, New York 10022
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(Address,
including zip code, of Principal Executive Offices)
Registrant's
telephone number, including area code: (212)
415-6500
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
1.01 Entry into a Material Definitive Agreement
On
October 1, 2010, American Realty Capital New York Recovery REIT, Inc. (the
“Company”), through its sponsor, American Realty Capital III, LLC, entered into
a purchase and sale agreement (the “Purchase and Sale Agreement”) to acquire a
portfolio of five retail condominiums (the “Portfolio”) located on Bleecker
Street in the Greenwich Village neighborhood of Manhattan, New
York. The Portfolio is 100% leased to a roster of high-end fashion
tenants, including Marc Jacobs, Michael Kors, Burberry, Mulberry and
A.P.C. The five leases have maturities ranging from 2016 to 2022 and
all have 3% annual rent escalations. The seller consists of Bleecker
Street Condo, LLC, 382/384 Bleecker, LLC, 382/384 Perry Retail, LLC and BCS 387,
LLC.
The
purchase price for the Portfolio is $34,000,000, exclusive of closing
costs. The closing of the acquisition will occur on or before
December 1, 2010.
The
Company expects to fund the acquisition of the Portfolio with proceeds from its
ongoing offering. The Company may finance the acquisition post
closing, however, there is no guarantee that it will be able to obtain financing
on terms that it believes are favorable or at all.
The
foregoing description of the Purchase and Sale Agreement does not purport to be
complete and is qualified in its entirety by reference to the complete text of
the Purchase and Sale Agreement filed as Exhibit 10.15 to this Current Report on
Form 8-K and is incorporated by reference herein.
Item 9.01
Financial Statements and Exhibits
(a)(4)
The audited financial statements relating to the Portfolio required by Rule 3-14
of Regulation S-X are not included in this Current Report on Form 8-K. The
Company will file such audited Financial Statements with the U.S. Securities and
Exchange Commission within 71 calendar days of the date of this Current Report
on Form 8-K.
(d) Exhibits
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Exhibit
No.
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Description
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10.15
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Purchase
and Sale Agreement, dated as of October 1, 2010, by and between
Bleecker
Street Condo, LLC, 382/384 Bleecker, LLC, 382/384 Perry Retail, LLC and
BCS 387, LLC, as Seller and American Realty Capital III, LLC, as
Purchaser
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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AMERICAN
REALTY CAPITAL TRUST, INC.
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Date: October
6, 2010
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By:
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/s/ Nicholas
S. Schorsch
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Nicholas
S. Schorsch
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Chief
Executive Officer and
Chairman
of the Board of
Directors
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