American Realty Capital Properties has purchased a TD Bank office building in Falmouth, Maine.

 
The net lease property contains 143,030 rentable square feet for a contract purchase price of USD31.0m at a capitalisation rate of 8.9 per cent.
 
"Coupled with our USD8.8m purchase of a FedEx Ground facility this past week, we have made approximately USD40m of acquisitions which reflect our focus on assembling a portfolio of strong credit tenants," says Nicholas S Schorsch (pictured), chairman and chief executive officer of ARCP. "We are pleased to have added TD Bank, a well-known nationally recognised banking institution, to our portfolio."