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

<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>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(d) 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"><B>Date of Report (Date of earliest event
reported) June 1, 2012 (May 31, 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 PROPERTIES, INC.<BR>
</B>(Exact name of Registrant as specified in its charter)</P>

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Maryland</B></P></TD>
    <TD STYLE="width: 36%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>001-35263</B></P></TD>
    <TD STYLE="width: 35%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>45-2482685</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.2pt 0pt 0; text-align: center">(State or other jurisdiction of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.2pt 0pt 0; text-align: center">incorporation or organization)</P></TD>
    <TD STYLE="padding-right: -0.6pt; font-size: 10pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="padding-right: -0.6pt; font-size: 10pt; text-align: center">(I.R.S. Employer Identification No.)</TD></TR>
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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; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 100%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>405
        Park Avenue</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, New York 10022</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -0.6pt; font-size: 10pt; text-align: center">(Address, including zip code, of principal executive offices)</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>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>(212)
        415-6500</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -0.6pt; font-size: 10pt; text-align: center">Registrant&rsquo;s telephone number, including area code:&nbsp;</TD></TR>
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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; text-align: justify">&nbsp;</P>

<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">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:</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></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"></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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 2.01. Completion of Acquisition
or Disposition of Assets.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Fedex Freight</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 31, 2012, American Realty Capital Properties, Inc. (the
&ldquo;Company&rdquo;) closed its acquisition of the fee-simple interest in six built-to-suit FedEx Freight distribution facilities
located in the cities and states listed below, at an aggregate contract purchase price of approximately $12.2 million, exclusive
of closing costs. The Company acquired the property through an indirect wholly-owned subsidiary of ARC Properties Operating Partnership,
L.P., its operating partnership. The seller of the FedEx Freight distribution facilities is Setzer Properties, LLC (&ldquo;Setzer&rdquo;).
Setzer does not have a material relationship with the Company and the acquisition was not an affiliated transaction. The FedEx
Freight distribution facilities were acquired pursuant to a purchase and sale agreement between Setzer and AR Capital, LLC, the
Company&rsquo;s sponsor (which assigned the purchase and sale agreement to the Company).</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">The properties total 92,935 rentable square feet. The tenant
of each of the properties is FedEx Freight, Inc., which is a wholly-owned subsidiary of FedEx Corporation (NYSE: FDX). All of the
leases are guaranteed by FedEx Corporation, which has an investment grade credit rating as determined by major credit rating agencies.
The leases have terms between seven to 15 years, with a weighted average remaining term of 4.6 years. None of the leases contains
fixed rental escalations. The leases are net whereby the tenant is required to pay substantially all operating expenses, in addition
to base rent. The aggregate annualized rental income for the properties will be $1.1 million, or $11.82 per rentable square foot.</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">The following table provides, for each of the properties, information
relating to lease commencement and termination dates, amount of lease term remaining, rentable square footage and approximate annualized
rental income and renewal options.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 11%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">Location</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 22%; border-bottom: windowtext 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Lease</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commencement</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date</B></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: windowtext 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Lease</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Termination</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date</B></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: windowtext 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Lease Term</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Remaining</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Years)</B></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 13%; border-bottom: windowtext 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Rentable Square</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Footage</B></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 13%; border-bottom: windowtext 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Approximate</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Annualized</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Rental Income</B></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 13%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">Renewal Options</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>Mt. Vernon, IL</TD>
    <TD>&nbsp;</TD>
    <TD>October 2009</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">April 2017</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">5.0</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">15,700</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">$144,000</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;Two, five year options with 5% increases</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Evansville, IN</TD>
    <TD>&nbsp;</TD>
    <TD>October 2009</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">January 2017</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4.8</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">20,200</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">$339,049</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;Two, five year options with 5% increases</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>Mt. Pleasant, PA</TD>
    <TD>&nbsp;</TD>
    <TD>October 2009</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">October 2016</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">4.5</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">20,200</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">$219,000</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;Two, five year options with 5% increases</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Chillicothe, OH</TD>
    <TD>&nbsp;</TD>
    <TD>January 2009</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">December 2015</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">3.7</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12,555</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">$138,000</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;Two, five year options with 5% increases</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>London, KY</TD>
    <TD>&nbsp;</TD>
    <TD>January 2009</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 2015</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">3.2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12,140</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">$122,400</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;Two, five year options with 5% increases</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Kankakee, IL</TD>
    <TD>&nbsp;</TD>
    <TD>January 2003</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">October 2018</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">6.5</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12,140</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">$136,200</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Two, five year options with 10% increases</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">The foregoing description of the purchase and sale agreement
is a summary and is qualified in its entirety by the terms of the purchase and sale agreement. The purchase and sale agreement
is attached to this Current Report on Form 8-K as Exhibit 10.31 and is incorporated herein by reference.</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">A copy of the press release announcing the acquisition of the
FedEx Freight distribution facilities is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein
by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>John Deere Distribution Facility</I></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">On May 31, 2012, the Company closed its acquisition of a fee-simple
interest in a John Deere distribution facility located in Davenport, Iowa, at a contract purchase price of approximately $26.1
million, exclusive of closing costs. The Company acquired the property through an indirect wholly-owned subsidiary of its operating
partnership. The sellers of the property are Davenport 1031, L.L.C. and 36 of its joint venture partners. The sellers do not have
a material relationship with the Company and the acquisition was not an affiliated transaction. The property was acquired pursuant
to a purchase and sale agreement, as amended, between the sellers and AR Capital, LLC, the Company&rsquo;s sponsor (which assigned
the purchase and sale agreement to the Company).</P>

<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">The property contains 552,960 rentable square feet and is 100%
leased to Quad City Consolidation and Distribution, a wholly-owned subsidiary of Deere &amp; Company (NYSE: DE). The lease is guaranteed
by Deere &amp; Company, which has an investment grade credit rating as determined by major credit rating agencies. The lease has
a 15-year term with 6.0 years remaining. The lease contains a fixed rental increase of 10.4% in March 2013. The lease is net, whereby
the tenant is to pay substantially all operating expenses, including all costs to maintain and repair the roof and structure of
the building, and the cost of all capital expenditures, in addition to base rent. The annualized rental income for the property
will be $2.2 million, or $3.90 per rentable square foot.</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">The foregoing description of the purchase and sale agreement,
as amended, is a summary and is qualified in its entirety by the terms of the purchase and sale agreement and amendments thereto.
The purchase and sale agreement and amendments thereto are attached to this Current Report on Form 8-K as Exhibits 10.32&mdash;10.36
and are incorporated herein by reference.</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">A copy of the press release announcing the acquisition of the
John Deere distribution facility is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.</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><I>Acquisition Financing</I></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">The Company funded the acquisition of the FedEx
Freight distribution facilities and the John Deere distribution facility at an aggregate contract purchase price of $38.3
million, exclusive of closing costs, with (a)&nbsp;a $25.4 million draw on its existing $150 million senior secured
revolving credit facility with RBS Citizens, N.A., (b) solely in respect of the FedEx Freight distribution facilities, the
issuance of 576,376 operating partnership units valued at approximately $6.4 million to Setzer as described below, (c) net
proceeds from the sale of its shares of preferred stock in the amount of approximately $5.8 million, as previously described
in the Company&rsquo;s Current Report on Form 8-K, filed on May 15, 2012, and (d) $0.7 million in proceeds from a bridge loan
made by the Company&rsquo;s sponsor, 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"><B>Item 2.03. &nbsp;&nbsp; Creation of a Direct Financial Obligation
or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</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">The Company funded a portion of the acquisition of the FedEx
Freight distribution facilities and the John Deere distribution facility through a $25.4 million draw on its existing $150 million
senior secured revolving credit facility with RBS Citizens, N.A., as described in Item 2.01 of this Current Report on Form 8-K
and is incorporated herein by reference. The terms of the senior secured revolving credit facility are set forth in the Company&rsquo;s
Registration Statement on Form S-11 filed on May 25, 2012. The credit agreement was filed as Exhibit 10.21 to the Company&rsquo;s
Registration Statement on Form S-11 filed on September 22, 2011. The description of the senior secured revolving credit facility
in this Current Report on Form 8-K is a summary and is qualified in its entirety by the terms of the credit agreement, which is
incorporated herein by reference.</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">On May 31, 2012, the Company entered into an unsecured $0.7
million bridge loan with the Company&rsquo;s sponsor. The interest-free bridge loan matures in May 2013 and is subordinate to all
existing debt of the Company. The principal balance is due at maturity and the bridge loan may be repaid 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">&nbsp;</P>

<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"></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>Item 3.02. Unregistered Sales of Equity Securities.</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">On May 31, 2012, the Company, through its operating partnership,
closed the issuance of 576,376 operating partnership units (the &ldquo;OP Units&rdquo;) valued at approximately $6.4 million to
Setzer as partial consideration for the acquisition of the FedEx Freight distribution facilities described above. The OP Units
were issued without registration in reliance on the exemption in Section&nbsp;4(2) of the Securities Act of 1933, as amended, and
Rule 506 of Regulation D thereunder, to an &ldquo;accredited investor,&rdquo; as that term is defined in Rule 501 of Regulation
D, for transactions not involving a public offering.</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: justify">As a result of the issuance of the OP Units,
Setzer was admitted as a limited partner of the operating partnership. Pursuant to the operating partnership&rsquo;s partnership
agreement, Setzer received redemption rights as a limited partner which enable Setzer, generally, after its OP Units have been
outstanding for at least one year, to cause the operating partnership to redeem its OP Units in exchange for cash or, at the option
of the operating partnership, for shares of the Company&rsquo;s common stock on a one-for-one basis. The cash redemption amount
per OP Unit will be based on the market price of the Company&rsquo;s common stock at the time of redemption.</P>

<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; text-align: justify">The foregoing description of the partnership
agreement is a summary and is qualified in its entirety by the terms of the partnership agreement. The partnership agreement was
previously filed as Exhibit 4.1 to the Company&rsquo;s Registration Statement on Form S-11 on July 5, 2011 and is incorporated
herein by reference.</P>

<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"><B>Item 9.01. Financial Statements and Exhibits.</B></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">(a) Set forth in this Item 9.01(a) are summary financial statements
of the parent guarantor to the lessees of the John Deere distribution facility described under Item 2.01 of this Current Report
on Form 8-K.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Deere &amp; Company currently files its financial statements
in reports filed with the U.S. Securities and Exchange Commission, and the following summary financial data are taken from such
filings:</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>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt"><B>Six Months</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-size: 10pt; font-weight: bold; text-align: center"></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">Ended&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year Ended&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -10pt; padding-left: 10pt; border-bottom: Black 1pt solid">(Amounts in Millions)</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">April 30,<BR> 2012</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><B>October 31,<BR> 2011</B></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><B>October 31,<BR> 2010</B></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><B>October 31,<BR> 2009</B></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -10pt; padding-left: 10pt">Condensed Statement of Consolidated Income</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: White">
    <TD STYLE="width: 44%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Net sales</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">15,523.6</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">29,466.1</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">23,573.2</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">20,756.1</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Finance, interest and other income</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,251.5</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,546.4</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,431.4</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,356.3</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Net income attributable to Deere &amp; Company</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,589.1</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,799.9</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,865.0</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">873.5</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<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; text-align: center">&nbsp;</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-indent: -10pt; padding-left: 10pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; padding-bottom: 1pt"><B>Six Months&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-indent: -10pt; padding-left: 10pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; padding-bottom: 1pt"><B>Ended</B></TD><TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><B>Year Ended</B> &nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -10pt; padding-left: 10pt; border-bottom: Black 1pt solid">(Amounts in Millions)</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">April 30,<BR> 2012</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><B>October 31,<BR> 2011</B></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><B>October 31,<BR> 2010</B></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><B>October 31,<BR> 2009</B></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; text-indent: -10pt; padding-left: 10pt">Consolidated Condensed Balance Sheet</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: White">
    <TD STYLE="width: 44%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Total assets</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">51,405.3</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">48,207.4</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">43,266.8</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">41,132.6</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-indent: -10pt; padding-left: 20pt">Long-term debt</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">18,719.4</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">16,959.9</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">16,814.5</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">17,391.7</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Total liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">44,009.3</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">41,392.5</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">36,963.4</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">36,309.8</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Total Deere &amp; Company
    stockholders&rsquo;     equity</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7,378.9</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,800.3</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,290.3</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,818.7</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



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

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify">Exhibits</TD>
</TR></TABLE>

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    <TD STYLE="width: 14%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; font-weight: bold">Exhibit No.</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 83%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; font-weight: bold">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">10.31</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"> Agreement for Acquisition and Transfer
of Real Property&nbsp;dated as of May 5, 2012 between ARC Properties Operating Partnership, L.P. and Setzer Properties, LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">10.32</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">Agreement for Purchase and Sale of Real Property dated as of February 8, 2012 between American
    Realty Capital II, LLC and Davenport 1031, L.L.C. and its 36 joint venture partners</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">10.33</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">First Amendment to Agreement for Purchase and Sale of Real Property dated as of February 28,
    2012 between AR Capital, LLC (f/k/a American Realty Capital II, LLC) and Davenport 1031, L.L.C and its 36 joint venture
    partners</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">10.34</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">Second Amendment to Agreement for Purchase and Sale of Real Property dated as of March 12,
    2012 between AR Capital, LLC (f/k/a American Realty Capital II, LLC) and Davenport 1031, L.L.C and its 36 joint venture
    partners</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">10.35</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">Third Amendment to Agreement for Purchase and Sale of Real Property dated as of May 11, 2012
    between AR Capital, LLC (f/k/a American Realty Capital II, LLC) and Davenport 1031, L.L.C and its 36 joint venture
    partners</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">10.36</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">Fourth Amendment to Agreement for Purchase and Sale of Real Property dated as of May 30,
    2012 between AR Capital, LLC (f/k/a American Realty Capital II, LLC) and Davenport 1031, L.L.C and its 36 joint venture
    partners</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">99.1</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">Press Release dated as of May 31, 2012</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>SIGNATURES</B></P>

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

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    <TD COLSPAN="2" STYLE="padding-right: -1.6pt">AMERICAN REALTY CAPITAL PROPERTIES, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 45%; padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -0.6pt">June 1, 2012</TD>
    <TD STYLE="padding-right: -0.6pt">By:</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: -0.6pt">/s/ Nicholas S. Schorsch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: -0.6pt">Name:</TD>
    <TD STYLE="padding-right: -0.6pt">Nicholas S. Schorsch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: -0.6pt">Title:</TD>
    <TD STYLE="padding-right: -0.6pt">Chief Executive Officer and</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: -0.6pt">Chairman of the Board of Directors</TD></TR>
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{"company-data": {"conformed-name": "American Realty Capital Properties, Inc.", "cik": "0001507385", "assigned-sic": "6798", "irs-number": "000000000", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-35263", "film-number": "12884293"}, "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"}}
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) June 1, 2012 (May 31, 2012)
AMERICAN REALTY CAPITAL PROPERTIES, INC.
(Exact name of Registrant as specified in its charter)
Maryland
001-35263
45-2482685
(State or other jurisdiction of
incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
405
        Park Avenue
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:
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 2.01. Completion of Acquisition
or Disposition of Assets.
Fedex Freight
On May 31, 2012, American Realty Capital Properties, Inc. (the
"Company") closed its acquisition of the fee-simple interest in six built-to-suit FedEx Freight distribution facilities
located in the cities and states listed below, at an aggregate contract purchase price of approximately $12.2 million, exclusive
of closing costs. The Company acquired the property through an indirect wholly-owned subsidiary of ARC Properties Operating Partnership,
L.P., its operating partnership. The seller of the FedEx Freight distribution facilities is Setzer Properties, LLC ("Setzer").
Setzer does not have a material relationship with the Company and the acquisition was not an affiliated transaction. The FedEx
Freight distribution facilities were acquired pursuant to a purchase and sale agreement between Setzer and AR Capital, LLC, the
Company's sponsor (which assigned the purchase and sale agreement to the Company).
The properties total 92,935 rentable square feet. The tenant
of each of the properties is FedEx Freight, Inc., which is a wholly-owned subsidiary of FedEx Corporation (NYSE: FDX). All of the
leases are guaranteed by FedEx Corporation, which has an investment grade credit rating as determined by major credit rating agencies.
The leases have terms between seven to 15 years, with a weighted average remaining term of 4.6 years. None of the leases contains
fixed rental escalations. The leases are net whereby the tenant is required to pay substantially all operating expenses, in addition
to base rent. The aggregate annualized rental income for the properties will be $1.1 million, or $11.82 per rentable square foot.
The following table provides, for each of the properties, information
relating to lease commencement and termination dates, amount of lease term remaining, rentable square footage and approximate annualized
rental income and renewal options.
Location
Lease
Commencement
Date
Lease
Termination
Date
Lease Term
Remaining
(Years)
Rentable Square
Footage
Approximate
Annualized
Rental Income
Renewal Options
Mt. Vernon, IL
October 2009
April 2017
5.0
15,700
$144,000
Two, five year options with 5% increases
Evansville, IN
October 2009
January 2017
4.8
20,200
$339,049
Two, five year options with 5% increases
Mt. Pleasant, PA
October 2009
October 2016
4.5
20,200
$219,000
Two, five year options with 5% increases
Chillicothe, OH
January 2009
December 2015
3.7
12,555
$138,000
Two, five year options with 5% increases
London, KY
January 2009
June 2015
3.2
12,140
$122,400
Two, five year options with 5% increases
Kankakee, IL
January 2003
October 2018
6.5
12,140
$136,200
Two, five year options with 10% increases
The foregoing description of the purchase and sale agreement
is a summary and is qualified in its entirety by the terms of the purchase and sale agreement. The purchase and sale agreement
is attached to this Current Report on Form 8-K as Exhibit 10.31 and is incorporated herein by reference.
A copy of the press release announcing the acquisition of the
FedEx Freight distribution facilities is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein
by reference.
John Deere Distribution Facility
On May 31, 2012, the Company closed its acquisition of a fee-simple
interest in a John Deere distribution facility located in Davenport, Iowa, at a contract purchase price of approximately $26.1
million, exclusive of closing costs. The Company acquired the property through an indirect wholly-owned subsidiary of its operating
partnership. The sellers of the property are Davenport 1031, L.L.C. and 36 of its joint venture partners. The sellers do not have
a material relationship with the Company and the acquisition was not an affiliated transaction. The property was acquired pursuant
to a purchase and sale agreement, as amended, between the sellers and AR Capital, LLC, the Company's sponsor (which assigned
the purchase and sale agreement to the Company).
The property contains 552,960 rentable square feet and is 100%
leased to Quad City Consolidation and Distribution, a wholly-owned subsidiary of Deere & Company (NYSE: DE). The lease is guaranteed
by Deere & Company, which has an investment grade credit rating as determined by major credit rating agencies. The lease has
a 15-year term with 6.0 years remaining. The lease contains a fixed rental increase of 10.4% in March 2013. The lease is net, whereby
the tenant is to pay substantially all operating expenses, including all costs to maintain and repair the roof and structure of
the building, and the cost of all capital expenditures, in addition to base rent. The annualized rental income for the property
will be $2.2 million, or $3.90 per rentable square foot.
The foregoing description of the purchase and sale agreement,
as amended, is a summary and is qualified in its entirety by the terms of the purchase and sale agreement and amendments thereto.
The purchase and sale agreement and amendments thereto are attached to this Current Report on Form 8-K as Exhibits 10.32—10.36
and are incorporated herein by reference.
A copy of the press release announcing the acquisition of the
John Deere distribution facility is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Acquisition Financing
The Company funded the acquisition of the FedEx
Freight distribution facilities and the John Deere distribution facility at an aggregate contract purchase price of $38.3
million, exclusive of closing costs, with (a) a $25.4 million draw on its existing $150 million senior secured
revolving credit facility with RBS Citizens, N.A., (b) solely in respect of the FedEx Freight distribution facilities, the
issuance of 576,376 operating partnership units valued at approximately $6.4 million to Setzer as described below, (c) net
proceeds from the sale of its shares of preferred stock in the amount of approximately $5.8 million, as previously described
in the Company's Current Report on Form 8-K, filed on May 15, 2012, and (d) $0.7 million in proceeds from a bridge loan
made by the Company's sponsor, 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.
Item 2.03.    Creation of a Direct Financial Obligation
or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The Company funded a portion of the acquisition of the FedEx
Freight distribution facilities and the John Deere distribution facility through a $25.4 million draw on its existing $150 million
senior secured revolving credit facility with RBS Citizens, N.A., as described in Item 2.01 of this Current Report on Form 8-K
and is incorporated herein by reference. The terms of the senior secured revolving credit facility are set forth in the Company's
Registration Statement on Form S-11 filed on May 25, 2012. The credit agreement was filed as Exhibit 10.21 to the Company's
Registration Statement on Form S-11 filed on September 22, 2011. The description of the senior secured revolving credit facility
in this Current Report on Form 8-K is a summary and is qualified in its entirety by the terms of the credit agreement, which is
incorporated herein by reference.
On May 31, 2012, the Company entered into an unsecured $0.7
million bridge loan with the Company's sponsor. The interest-free bridge loan matures in May 2013 and is subordinate to all
existing debt of the Company. The principal balance is due at maturity and the bridge loan may be repaid from time to time and
at any time, in whole or in part, without premium or penalty.
Item 3.02. Unregistered Sales of Equity Securities.
On May 31, 2012, the Company, through its operating partnership,
closed the issuance of 576,376 operating partnership units (the "OP Units") valued at approximately $6.4 million to
Setzer as partial consideration for the acquisition of the FedEx Freight distribution facilities described above. The OP Units
were issued without registration in reliance on the exemption in Section 4(2) of the Securities Act of 1933, as amended, and
Rule 506 of Regulation D thereunder, to an "accredited investor," as that term is defined in Rule 501 of Regulation
D, for transactions not involving a public offering.
As a result of the issuance of the OP Units,
Setzer was admitted as a limited partner of the operating partnership. Pursuant to the operating partnership's partnership
agreement, Setzer received redemption rights as a limited partner which enable Setzer, generally, after its OP Units have been
outstanding for at least one year, to cause the operating partnership to redeem its OP Units in exchange for cash or, at the option
of the operating partnership, for shares of the Company's common stock on a one-for-one basis. The cash redemption amount
per OP Unit will be based on the market price of the Company's common stock at the time of redemption.
The foregoing description of the partnership
agreement is a summary and is qualified in its entirety by the terms of the partnership agreement. The partnership agreement was
previously filed as Exhibit 4.1 to the Company's Registration Statement on Form S-11 on July 5, 2011 and is incorporated
herein by reference.
Item 9.01. Financial Statements and Exhibits.
(a) Set forth in this Item 9.01(a) are summary financial statements
of the parent guarantor to the lessees of the John Deere distribution facility described under Item 2.01 of this Current Report
on Form 8-K.
Deere & Company currently files its financial statements
in reports filed with the U.S. Securities and Exchange Commission, and the following summary financial data are taken from such
filings:
Six Months
Ended
Year Ended
(Amounts in Millions)
April 30,
2012
October 31,
2011
October 31,
2010
October 31,
2009
Condensed Statement of Consolidated Income
Net sales
$
15,523.6
$
29,466.1
$
23,573.2
$
20,756.1
Finance, interest and other income
1,251.5
2,546.4
2,431.4
2,356.3
Net income attributable to Deere & Company
1,589.1
2,799.9
1,865.0
873.5
Six Months
Ended
Year Ended
(Amounts in Millions)
April 30,
2012
October 31,
2011
October 31,
2010
October 31,
2009
Consolidated Condensed Balance Sheet
Total assets
$
51,405.3
$
48,207.4
$
43,266.8
$
41,132.6
Long-term debt
18,719.4
16,959.9
16,814.5
17,391.7
Total liabilities
44,009.3
41,392.5
36,963.4
36,309.8
Total Deere & Company
    stockholders'     equity
7,378.9
6,800.3
6,290.3
4,818.7
(d)
Exhibits
Exhibit No.
Description
10.31
Agreement for Acquisition and Transfer
of Real Property dated as of May 5, 2012 between ARC Properties Operating Partnership, L.P. and Setzer Properties, LLC
10.32
Agreement for Purchase and Sale of Real Property dated as of February 8, 2012 between American
    Realty Capital II, LLC and Davenport 1031, L.L.C. and its 36 joint venture partners
10.33
First Amendment to Agreement for Purchase and Sale of Real Property dated as of February 28,
    2012 between AR Capital, LLC (f/k/a American Realty Capital II, LLC) and Davenport 1031, L.L.C and its 36 joint venture
    partners
10.34
Second Amendment to Agreement for Purchase and Sale of Real Property dated as of March 12,
    2012 between AR Capital, LLC (f/k/a American Realty Capital II, LLC) and Davenport 1031, L.L.C and its 36 joint venture
    partners
10.35
Third Amendment to Agreement for Purchase and Sale of Real Property dated as of May 11, 2012
    between AR Capital, LLC (f/k/a American Realty Capital II, LLC) and Davenport 1031, L.L.C and its 36 joint venture
    partners
10.36
Fourth Amendment to Agreement for Purchase and Sale of Real Property dated as of May 30,
    2012 between AR Capital, LLC (f/k/a American Realty Capital II, LLC) and Davenport 1031, L.L.C and its 36 joint venture
    partners
99.1
Press Release dated as of May 31, 2012
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 PROPERTIES, INC.
June 1, 2012
By:
/s/ Nicholas S. Schorsch
Name:
Nicholas S. Schorsch
Title:
Chief Executive Officer and
Chairman of the Board of Directors