RCS Capital Terminates Agreement To Acquire Cole Capital - Quick Facts

(RTTNews) - RCS Capital Corp. (RCAP) announced that it has terminated definitive agreement to acquire Cole Capital Partners, LLC and Cole Capital Advisors Inc. from American Realty Capital Properties Inc. (ARCP).

In addition, concurrently with the termination of the definitive agreement to acquire Cole Capital, the previously disclosed interim sub-advisory agreements entered into on October 22, 2014 among RCAP and the five non-traded REITs sponsored and advised by Cole Capital were terminated, and the wholesaling agreements entered into on October 22, 2014 between Realty Capital Securities, LLC ("RCS"), a subsidiary of RCAP, and Cole Capital Corporation, a subsidiary of Cole Capital, whereby Cole Capital engaged RCS to act as its distribution agent for the three non-traded REITs for which it currently serves as dealer-manager, were terminated.

Last month, RCS Capital had said it agreed to acquire Cole Capital Partners, LLC and Cole Capital Advisors, Inc. from American Realty Capital Properties for $700 million plus contingent consideration.