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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">_________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d)&nbsp;of
the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of report (Date of earliest event reported):
<B>March 27, 2012 (March 21, 2012)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>American Realty Capital Daily Net Asset
Value Trust, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Maryland</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or Other Jurisdiction of Incorporation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 49%; vertical-align: top; padding-right: 3.2pt; font-weight: bold; text-align: center"><B>333-169821</B></TD>
    <TD STYLE="width: 3%; vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 48%; vertical-align: top; padding-right: 3.2pt; font-weight: bold; text-align: center"><B>27-3441614</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; text-align: center">(IRS Employer Identification No.)</TD></TR>
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    <TD STYLE="width: 100%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.4pt 0pt 0; text-align: center"><B>405 Park Avenue, 15th Floor</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.4pt 0pt 0; text-align: center"><B>New York, New York 10022</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.2pt; font-size: 10pt; text-align: center">(Address, including zip code, of Principal Executive Offices)&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.4pt; font-size: 10pt; font-weight: bold; text-align: center"><B>(212) 415-6500</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.4pt; font-size: 10pt; text-align: center">(Registrant&rsquo;s Telephone Number, Including Area Code)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form&nbsp;8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 5%; padding-right: 3.2pt; padding-left: 9pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="width: 95%; padding-right: 3.2pt; padding-left: 9pt">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.2pt; padding-left: 9pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="padding-right: 3.2pt; padding-left: 9pt">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.2pt; padding-left: 9pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="padding-right: 3.2pt; padding-left: 9pt">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.2pt; padding-left: 9pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="padding-right: 3.2pt; padding-left: 9pt">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<TD STYLE="width: 0px"></TD><TD STYLE="width: 72px; text-align: left"><B>Item 2.01.</B></TD><TD STYLE="text-align: justify"><B>Completion of Acquisition or Disposition of Assets.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 21, 2012, American Realty Capital
Daily Net Asset Value Trust, Inc. (the &ldquo;Company&rdquo;) closed its acquisition of a fee-simple interest in a build-to-suit
FedEx Freight distribution facility located in Chili, New York. The Company acquired the property though an indirect wholly owned
subsidiary of its operating partnership. The seller of the property was SunCap Centres FE Rochester, LLC. The seller does not have
a material relationship with the Company and the acquisition was not an affiliated transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company funded the acquisition of the
property with (a) a $9.7 million mortgage loan, (b) a $4.9 million mezzanine loan and (c) a $5.0 million bridge loan, each as described
below in Item 2.03&mdash;Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a
Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The property contains 111,865 rentable square
feet and is 100% leased to FedEx Freight, Inc., which is a wholly-owned subsidiary FedEx Corp. (NYSE: FDX).&nbsp;&nbsp;The lease
is guaranteed by FedEx Corp., which has an investment grade credit rating as determined by major credit rating agencies.&nbsp;&nbsp;The
original lease term is 15 years with 14.9 years currently remaining on the lease.&nbsp;&nbsp;The lease contains fixed rental escalations
of 2.5% every five years. The lease contains two renewals option of five years each.&nbsp;&nbsp;The lease is net whereby the tenant
is required to pay substantially all operating expenses, in addition to base rent.&nbsp;&nbsp;The annualized rental income for
the initial lease term is approximately $1.5 million, or $13.57 per rentable square foot.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0px"></TD><TD STYLE="width: 72px; text-align: left"><B>Item 2.03.</B></TD><TD STYLE="text-align: justify"><B>Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement of a Registrant.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 21, 2012, in connection with the
acquisition of the FedEx Freight distribution facility, the Company, through a wholly owned subsidiary of its operating partnership,
entered into a loan agreement with Capital One, National Association (&ldquo;Capital One&rdquo;), under which the Company borrowed
(i) approximately $9.7 million as a mortgage loan (the &ldquo;Mortgage Loan&rdquo;) and (ii) approximately $4.9 million as a mezzanine
loan (the &ldquo;Mezzanine Loan&rdquo;), each secured by the property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Mortgage Loan bears interest at a floating
rate, but, through an interest rate swap that the Company entered into with Capital One, pursuant to the terms of the loan, the
loan bears interest at a per annum fixed rate of 3.99%. The Mortgage Loan matures in March 2017 and provides for monthly interest-only
payments, with all principal outstanding being repaid on the maturity date.&nbsp;The Mortgage Loan may be prepaid from time to
time and at any time, in whole or in part, without premium or penalty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Mezzanine Loan bears interest at LIBOR
plus 5.0%. The Mezzanine Loan matures in March 2013 and provides for monthly interest-only payments, with all principal outstanding
being repaid on the maturity date. The Mezzanine Loan may be prepaid from time to time and at any time, in whole or in part, without
premium or penalty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 21, 2012, the Company
entered into an unsecured $5.0 million bridge loan with an unaffiliated third party. The bridge loan bears a fixed interest
rate of 8.0% per annum and matures in March 2012. The bridge loan has two one-year extension options. The bridge loan
requires monthly interest payments with the principal balance due at maturity. The bridge loan may be repaid from time to
time and at any time, in whole or in part, without premium or penalty. The Company is also required to pay an exit fee equal
to 1% of the original loan amount upon final payment of the loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 72px; font-size: 10pt; font-weight: bold">Item 5.02</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold">Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As part of management&rsquo;s ongoing effort
to minimize potential conflicts of interests amongst American Realty Capital-sponsored net lease programs, which may compete with
the Company for acquisition opportunities, Edward G. Rendell resigned as a member of the Board of Directors of the Company, effective
March 27, 2012.&nbsp; Mr. Rendell is expected to be appointed to the board of American Realty Capital Global Daily Net Asset Value
Trust, Inc. (&ldquo;GDNAV&rdquo;), a non-traded, American Realty Capital-sponsored REIT, upon effectiveness of GDNAV&rsquo;s Registration
Statement filed with the Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Simultaneous with Mr. Rendell&rsquo;s resignation,
the Board of Directors of the Company appointed Stanley Perla, effective March 27, 2012, as a member of the Board of Directors
and Audit Committee in accordance with the terms of the Company&rsquo;s Bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Mr. Perla, like the Company&rsquo;s
other independent directors, will participate in the Company&rsquo;s compensation program for independent directors and the
director incentive restricted share plan. The Company pays to each of its independent directors a retainer of $30,000 per
year, plus $2,000 for each board or board committee meeting the director attends in person ($2,500 for attendance by the
chairperson of the audit committee at each meeting of the audit committee), $750 for each meeting the director attends
virtually and $1,500 for each meeting the director attends by telephone. If there is a meeting of the board and one or more
committees in a single day, the fees will be limited to $2,500 per day ($3,000 for the chairperson of the audit committee if
there is a meeting of such committee). Under the restricted share plan, Mr. Perla will be entitled to receive an award of
3,000 restricted shares of common stock upon joining the board and on the date of each annual stockholder&rsquo;s meeting.
Restricted stock issued to independent directors vest over a five-year period following the first anniversary of the date of
grant in increments of 20% per annum</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<TD STYLE="width: 0px"></TD><TD STYLE="width: 72px; text-align: left"><B>Item 9.01.</B></TD><TD STYLE="text-align: justify"><B>Financial Statements and Exhibits.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a) Financial Statements of Business Acquired (Lessees)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Set forth in this Item 9.01(a) are summary
financial statements of the lessor of the Fed Ex property described under Item 2.01 of this Current Report on Form 8-K. FedEx Corp.
curr<FONT STYLE="color: black">ently </FONT>files its financial statements in reports filed with the U.S. Securities and Exchange
Commission, and the following summary financial data regarding FedEx Corp., Inc. are taken from such filings:
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year Ended</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">(Amounts in Millions)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended <BR>February 29, 2012<BR> (Unaudited)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">May 31, 2011<BR> (Audited)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">May 31, 2010<BR> (Audited)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">May 31, 2009 <BR>(Audited)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Statements of Operations Data</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #B6DDE8">
    <TD STYLE="width: 40%">Revenues</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">31,672</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">39,304</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">34,734</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">35,497</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Operating income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,330</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,378</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,198</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">747</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #B6DDE8">
    <TD STYLE="text-align: left">Net income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,482</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,452</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,184</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">(Amounts in Millions)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">February 29, 2012<BR> (Unaudited)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font-weight: bold; text-align: center"><B>May 31, 2011</B>&nbsp;<BR> <B>(Audited)</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font-weight: bold; text-align: center"><B>May 31, 2010</B>&nbsp;<BR> <B>(Audited)</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font-weight: bold; text-align: center"><B>May 31, 2009<BR> </B>&nbsp;<B>(Audited)</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Consolidated Condensed Balance Sheets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #B6DDE8">
    <TD STYLE="width: 40%; text-align: left">Total assets</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">28,752</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">27,385</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">24,902</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">24,244</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Long-term debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,251</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,667</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,668</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,930</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #B6DDE8">
    <TD STYLE="text-align: left">Total common stockholders&rsquo; investment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,569</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,220</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,811</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,626</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: center; text-indent: -0.75in"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 11.2pt; padding-left: 9pt; font-weight: bold"><B>AMERICAN REALTY CAPITAL DAILY NET ASSET VALUE TRUST, INC.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 38%; padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.2pt">Date: March 27, 2012</TD>
    <TD STYLE="padding-right: 3.2pt; padding-left: 9pt">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid; padding-right: 0.1in">/s/ Nicholas S. Schorsch&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.2pt">Name:</TD>
    <TD STYLE="padding-right: 3.2pt">Nicholas S. Schorsch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.2pt">Title:</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.2pt 0pt 0">Chief Executive Officer and</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.2pt 0pt 0">Chairman of the Board of Directors</P></TD></TR>
</TABLE>
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{"company-data": {"conformed-name": "American Realty Capital Daily Net Asset Value Trust, Inc.", "cik": "0001501745", "assigned-sic": "6798", "irs-number": "711036971", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-169821", "film-number": "12717614"}, "business-address": {"street1": "405 PARK AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "212-415-6500"}, "mail-address": {"street1": "405 PARK AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10022"}, "former-company": {"former-conformed-name": "American Realty Capital Trust II, Inc.", "date-changed": "20100921"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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):
March 27, 2012 (March 21, 2012)
American Realty Capital Daily Net Asset
Value Trust, Inc.
(Exact Name of Registrant as Specified in
Its Charter)
Maryland
(State or Other Jurisdiction of Incorporation)
333-169821
27-3441614
(Commission File Number)
(IRS Employer Identification No.)
405 Park Avenue, 15th Floor
New York, New York 10022
(Address, including zip code, of Principal Executive Offices)
(212) 415-6500
(Registrant's Telephone Number, Including Area Code)
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 (see General
Instruction A.2. below):
£
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
£
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
£
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
£
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.01.
Completion of Acquisition or Disposition of Assets.
On March 21, 2012, American Realty Capital
Daily Net Asset Value Trust, Inc. (the "Company") closed its acquisition of a fee-simple interest in a build-to-suit
FedEx Freight distribution facility located in Chili, New York. The Company acquired the property though an indirect wholly owned
subsidiary of its operating partnership. The seller of the property was SunCap Centres FE Rochester, LLC. The seller does not have
a material relationship with the Company and the acquisition was not an affiliated transaction.
The Company funded the acquisition of the
property with (a) a $9.7 million mortgage loan, (b) a $4.9 million mezzanine loan and (c) a $5.0 million bridge loan, each as described
below in Item 2.03—Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
The property contains 111,865 rentable square
feet and is 100% leased to FedEx Freight, Inc., which is a wholly-owned subsidiary FedEx Corp. (NYSE: FDX).  The lease
is guaranteed by FedEx Corp., which has an investment grade credit rating as determined by major credit rating agencies.  The
original lease term is 15 years with 14.9 years currently remaining on the lease.  The lease contains fixed rental escalations
of 2.5% every five years. The lease contains two renewals option of five years each.  The lease is net whereby the tenant
is required to pay substantially all operating expenses, in addition to base rent.  The annualized rental income for
the initial lease term is approximately $1.5 million, or $13.57 per rentable square foot.
Item 2.03.
Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement of a Registrant.
On March 21, 2012, in connection with the
acquisition of the FedEx Freight distribution facility, the Company, through a wholly owned subsidiary of its operating partnership,
entered into a loan agreement with Capital One, National Association ("Capital One"), under which the Company borrowed
(i) approximately $9.7 million as a mortgage loan (the "Mortgage Loan") and (ii) approximately $4.9 million as a mezzanine
loan (the "Mezzanine Loan"), each secured by the property.
The Mortgage Loan bears interest at a floating
rate, but, through an interest rate swap that the Company entered into with Capital One, pursuant to the terms of the loan, the
loan bears interest at a per annum fixed rate of 3.99%. The Mortgage Loan matures in March 2017 and provides for monthly interest-only
payments, with all principal outstanding being repaid on the maturity date. The Mortgage Loan may be prepaid from time to
time and at any time, in whole or in part, without premium or penalty.
The Mezzanine Loan bears interest at LIBOR
plus 5.0%. The Mezzanine Loan matures in March 2013 and provides for monthly interest-only payments, with all principal outstanding
being repaid on the maturity date. The Mezzanine Loan may be prepaid from time to time and at any time, in whole or in part, without
premium or penalty.
On March 21, 2012, the Company
entered into an unsecured $5.0 million bridge loan with an unaffiliated third party. The bridge loan bears a fixed interest
rate of 8.0% per annum and matures in March 2012. The bridge loan has two one-year extension options. The bridge loan
requires monthly interest payments with the principal balance due at maturity. The bridge loan may be repaid from time to
time and at any time, in whole or in part, without premium or penalty. The Company is also required to pay an exit fee equal
to 1% of the original loan amount upon final payment of the loan.
Item 5.02
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers
As part of management's ongoing effort
to minimize potential conflicts of interests amongst American Realty Capital-sponsored net lease programs, which may compete with
the Company for acquisition opportunities, Edward G. Rendell resigned as a member of the Board of Directors of the Company, effective
March 27, 2012.  Mr. Rendell is expected to be appointed to the board of American Realty Capital Global Daily Net Asset Value
Trust, Inc. ("GDNAV"), a non-traded, American Realty Capital-sponsored REIT, upon effectiveness of GDNAV's Registration
Statement filed with the Securities and Exchange Commission.
Simultaneous with Mr. Rendell's resignation,
the Board of Directors of the Company appointed Stanley Perla, effective March 27, 2012, as a member of the Board of Directors
and Audit Committee in accordance with the terms of the Company's Bylaws.
Mr. Perla, like the Company's
other independent directors, will participate in the Company's compensation program for independent directors and the
director incentive restricted share plan. The Company pays to each of its independent directors a retainer of $30,000 per
year, plus $2,000 for each board or board committee meeting the director attends in person ($2,500 for attendance by the
chairperson of the audit committee at each meeting of the audit committee), $750 for each meeting the director attends
virtually and $1,500 for each meeting the director attends by telephone. If there is a meeting of the board and one or more
committees in a single day, the fees will be limited to $2,500 per day ($3,000 for the chairperson of the audit committee if
there is a meeting of such committee). Under the restricted share plan, Mr. Perla will be entitled to receive an award of
3,000 restricted shares of common stock upon joining the board and on the date of each annual stockholder's meeting.
Restricted stock issued to independent directors vest over a five-year period following the first anniversary of the date of
grant in increments of 20% per annum
Item 9.01.
Financial Statements and Exhibits.
(a) Financial Statements of Business Acquired (Lessees)
Set forth in this Item 9.01(a) are summary
financial statements of the lessor of the Fed Ex property described under Item 2.01 of this Current Report on Form 8-K. FedEx Corp.
curr
ently
files its financial statements in reports filed with the U.S. Securities and Exchange
Commission, and the following summary financial data regarding FedEx Corp., Inc. are taken from such filings:
Year Ended
(Amounts in Millions)
Nine Months Ended
February 29, 2012
(Unaudited)
May 31, 2011
(Audited)
May 31, 2010
(Audited)
May 31, 2009
(Audited)
Statements of Operations Data
Revenues
$
31,672
$
39,304
$
34,734
$
35,497
Operating income
2,330
2,378
1,198
747
Net income
1,482
1,452
1,184
98
(Amounts in Millions)
February 29, 2012
(Unaudited)
May 31, 2011
(Audited)
May 31, 2010
(Audited)
May 31, 2009
(Audited)
Consolidated Condensed Balance Sheets
Total assets
$
28,752
$
27,385
$
24,902
$
24,244
Long-term debt
1,251
1,667
1,668
1,930
Total common stockholders' investment
16,569
15,220
13,811
13,626
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.
AMERICAN REALTY CAPITAL DAILY NET ASSET VALUE TRUST, INC.
Date: March 27, 2012
By:
/s/ Nicholas S. Schorsch
Name:
Nicholas S. Schorsch
Title:
Chief Executive Officer and
Chairman of the Board of Directors