American Realty Capital Properties, Inc. closed its previously announced transaction to acquire American Realty Capital Trust IV, Inc. Following the untimely death of Dr. Walter P. Lomax, Jr. in October 2013, ARCP's board of directors appointed William G. Stanley, the lead independent director of ARCT IV prior to the merger close, as an independent director of ARCP effective upon the closing of the ARCT IV merger to ensure that the ARCP board would be comprised of a majority of independent directors and in light of Mr. Stanley's leadership skills and ample experience as an independent director on various boards. Mr. Stanley joined Leslie D. Michelson, Scott J. Bowman and Governor Edward G. Rendell as independent board members of ARCP along with the three interested board members, Nicholas S. Schorsch, Chairman, William M. Kahane and Edward M. Weil, Jr.