VEREIT, Inc. was a real estate investment trust headquartered in Phoenix, Arizona that invested in single-tenant retail, restaurant, office and industrial properties. As of December 31, 2020, the company owned 3,831 properties with an aggregate of 89.7 million square feet.[1] The company was acquired by Realty Income in November 2021.
The company was formerly known as American Realty Capital Properties Inc. and it changed its name after an accounting scandal. Its name was derived for the Latin word "veritas", meaning truth.
History
The company was founded in 2010 by Nicholas Schorsch.[2]
In November 2013, the company acquired CapLease, adding 68 properties totaling over 13 million square feet.[3]
In January 2014, the company acquired 120 properties from funds managed by