Necessity Retail REIT, Inc. - 10-K filing on 2014-03-10

Subsequent Events

11 Months Ended

Dec. 31, 2013

The Company has evaluated subsequent events through the filing of this Annual Report on Form 10-K, and determined that there have not been any events that have occurred that would require adjustments to, or disclosures in, the consolidated financial statements except for the following disclosures:

Sales of Common Stock

As of February 28, 2014, the Company had 63.4 million shares of common stock outstanding, including unvested restricted shares and shares issued pursuant to the DRIP, and had received total proceeds from the IPO and the DRIP of $1.6 billion. As of February 28, 2014, the aggregate value of all shares outstanding was $1.6 billion, based on a per share value of $25.00 (or $23.75 for shares issued pursuant to the DRIP).

Total capital raised to date from the IPO and the DRIP is as follows:



Source of Capital (In thousands)	Period from January 22, 2013 (date of inception) to December 31, 2013		January 1, 2014 to February 28, 2014		Total as of February 28, 2014
Common stock	$	1,557,511	$	10,351	$	1,567,862

Acquisitions

The following table presents certain information about the properties that the Company acquired from January 1, 2014 to March 6, 2014:



(Dollar amounts in thousands)	Number of Properties	Base Purchase Price ⁽¹⁾		Rentable Square Feet
Total portfolio — December 31, 2013	239	$	1,146,141	7,473,631
Acquisitions	49	291,040		3,340,553
Total portfolio — March 6, 2014	288	$	1,437,181	10,814,184

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(1) Contract purchase price, excluding acquisition related costs.

Mortgage Financings

From January 1, 2014 to March 6, 2014, the Company assumed $107.3 million of mortgage notes payable in connection with the property acquisitions during such period.

Investment Securities

From January 1, 2014 to March 6, 2014, the Company sold $7.3 million of investments in redeemable preferred stock and senior notes for a realized loss of $0.2 million.