Financial Woes Pile Up at American Realty Capital
American Realty Capital Properties Inc. is unraveling after a spate of financial woes, beginning with last Wednesday’s disclosure that the real estate investment trust (REIT) intentionally concealed accounting errors.
Lower Manhattan buildings are seen on Sept. 11. Commercial real estate company ARCP incorrectly included some Q1 income to calculate adjusted funds from operations for Q2.
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