In 2014, ARCP
-- a publicly traded REIT -- was set to file its financial statement for the second quarter, when an employee told Block and McAlister that there was a methodological error in some of the firm's calculations and that its average funds from operations (or AFFO) were overstated by roughly $0.
In the case of the ARCP
, state auditors found that the DAR had used up P3.
The offering came over a month before the accounting irregularities were disclosed by ARCP
ID North Little Rock AR LLC, another affiliate of American Realty Capital Properties, acquired the 25,000-SF SCP Distributors facility at 7610 Northshore Place in North Little Rock for nearly $2.
Under the terms of the settlement, RCS Capital has agreed to pay ARCP
a negotiated break-up fee consisting of a cash payment of USD 32.
, which is led by co-founder and Chairman Nicholas Schorsch, is a sister company of RCAP; Schorsch is executive chairman of RCS Capital, which includes about 9,700 affiliated independent advisors.
, a publicly traded REIT previously sponsored by the parent of our sponsor, relating to certain ARCP
accounting misstatements, our sponsor and our dealer manager have engaged in continuous dialogue with soliciting dealers through which our offering is distributed to clarify that ARCP
is a separate publicly listed company and is not affiliated with us, and we and ARCP
have independent accounting teams and no overlapping accounting and control systems," reads an amendment to an Oct.
The purchase price comprises USD200m in cash, USD300m of ARCP
unsecured debt and USD200m in RCAP Class A common stock valued at a fixed price of USD23.
Attorney's office in New York, prior to the filing of ARCP
's Form 10-Q for the second quarter of 2014, Block, McAlister and others "came to understand that the method used by ARCP
to calculate AFFO in the first quarter of 2014 and in certain previous quarters was erroneously inflated.
chairman of ARCP
and from the ARCP
Board of Directors and the Boards of Directors of the non-traded REITs managed by Cole Capital.
Back in southwest Little Rock, ARCP
SN Mabelvale AR LLC of Phoenix acquired the 6,450-SF warehouse at 11618 Otter Creek S.
said it will continue to be led by two of its founders and current executive officers, Nicholas S Schorsch and Brian S.