American Realty Capital - Retail Centers Of America Inactive 10-Q8 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2014	Apr. 30, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'AMERICAN REALTY CAPITAL - RETAIL CENTERS OF AMERICA, INC.	'
Entity Central Index Key	'0001500554	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Non-accelerated Filer	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	'	25,859,343

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Real estate investments, at cost:	'	'
Land	$24,640	$28,192
Buildings, fixtures and improvements	66,254	62,702
Acquired intangible lease assets	15,940	16,599
Total real estate investments, at cost	106,834	107,493
Less: accumulated depreciation and amortization	-7,307	-6,097
Total real estate investments, net	99,527	101,396
Cash and cash equivalents	131,443	13,295
Restricted cash	688	1,018
Prepaid expenses and other assets	4,692	2,272
Deferred costs, net	1,346	1,397
Land held for sale	564	564
Total assets	238,260	119,942
LIABILITIES AND STOCKHOLDERS' EQUITY	'	'
Mortgage notes payable	63,083	63,083
Below-market lease liabilities, net	895	912
Derivatives, at fair value	143	98
Accounts payable and accrued expenses	5,510	8,211
Deferred rent and other liabilities	407	382
Distributions payable	1,019	375
Total liabilities	71,057	73,061
Preferred stock, $0.01 par value per share, 50,000,000 authorized, none issued or outstanding at March 31, 2014 and December 31, 2013	0	0
Common stock, $0.01 par value per share, 300,000,000 shares authorized, 21,031,595 and 7,253,833 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively	210	72
Additional paid-in capital	179,292	56,384
Accumulated other comprehensive loss	-143	-98
Accumulated deficit	-12,156	-9,477
Total stockholders' equity	167,203	46,881
Total liabilities and stockholders' equity	$238,260	$119,942

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, authorized (in shares)	50,000,000	50,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, authorized (in shares)	300,000,000	300,000,000
Common stock, issued (in shares)	21,031,595	7,253,833
Common stock, outstanding (in shares)	21,031,595	7,253,833

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenues:	'	'
Rental income	$2,115	$1,088
Operating expense reimbursements	684	309
Total revenues	2,799	1,397
Operating expenses:	'	'
Property operating	941	419
Acquisition and transaction related	20	7
General and administrative	107	88
Depreciation and amortization	1,644	1,145
Total operating expenses	2,712	1,659
Operating income (loss)	87	-262
Interest expense	-686	-790
Net loss	-599	-1,052
Designated derivatives, fair value adjustment	-45	0
Comprehensive loss	($644)	($1,052)
Basic and diluted weighted-average shares outstanding (in shares)	12,997,881	969,506
Basic and diluted net loss per share (in dollars per share)	($0.05)	($1.09)

CONSOLIDATED_STATEMENT_OF_CHAN

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (USD $)	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Total Stockholders' Equity
In Thousands, except Share data, unless otherwise specified	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Total Stockholders' Equity
Balance, beginning of period at Dec. 31, 2013	'	$72	$56,384	($98)	($9,477)	$46,881
Balance, beginning of period (in shares) at Dec. 31, 2013	'	7,253,833	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Issuances of common stock (in shares)	'	13,713,877	'	'	'	'
Issuances of common stock	'	137	136,255	'	'	136,392
Common stock offering costs, commissions and dealer manager fees	'	'	-13,964	'	'	-13,964
Common stock issued through distribution reinvestment plan (in shares)	'	63,385	'	'	'	'
Common stock issued through distribution reinvestment plan	603	1	602	'	'	603
Share-based compensation (in shares)	'	500	'	'	'	'
Share-based compensation	'	'	15	'	'	15
Distributions declared	'	'	'	'	-2,080	-2,080
Net loss	-599	'	'	'	-599	-599
Other comprehensive loss	'	'	'	-45	'	-45
Balance, end of period at Mar. 31, 2014	'	$210	$179,292	($143)	($12,156)	$167,203
Balance, end of period (in shares) at Mar. 31, 2014	'	21,031,595	'	'	'	'

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net loss	($599)	($1,052)
Adjustment to reconcile net loss to net cash provided by operating activities:	'	'
Depreciation	1,000	658
Amortization of in-place lease assets	638	487
Amortization of deferred costs	68	112
Amortization of above-market lease assets and accretion of below-market lease liabilities, net	214	72
Share-based compensation	15	7
Changes in assets and liabilities:	'	'
Prepaid expenses and other assets	-202	-31
Accounts payable and accrued expenses	-868	287
Deferred rent and other liabilities	25	-19
Net cash provided by operating activities	291	521
Cash flows from investing activities:	'	'
Deposits for real estate acquisitions	-425	0
Net cash used in investing activities	-425	0
Cash flows from financing activities:	'	'
Payments of deferred financing costs	-3	-7
Proceeds from issuances of common stock	134,885	4,694
Payments of offering costs and fees related to stock issuances	-15,078	-788
Distributions paid	-833	-103
Payments to affiliate, net	1,019	160
Restricted cash	330	9
Net cash provided by financing activities	118,282	3,645
Net change in cash and cash equivalents	118,148	4,166
Cash and cash equivalents, beginning of period	13,295	278
Cash and cash equivalents, end of period	131,443	4,444
Supplemental Disclosures:	'	'
Cash paid for interest	625	519
Cash paid for taxes	28	0
Non-Cash Financing Activities:	'	'
Common stock issued through distribution reinvestment plan	$603	$30

Organization

Organization	3 Months Ended
Organization	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization	'
	Organization

	American Realty Capital — Retail Centers of America, Inc. (the "Company"), incorporated on July 29, 2010, is a Maryland corporation that qualified as a real estate investment trust ("REIT") for U.S. federal income tax purposes beginning with the taxable year ended December 31, 2012. On March 17, 2011, the Company commenced its initial public offering (the "IPO") on a "reasonable best efforts" basis of up to 150.0 million shares of common stock, $0.01 par value per share, at a price of $10.00 per share, subject to certain volume and other discounts, pursuant to a registration statement on Form S-11, as amended (File No. 333-169355) (the "Registration Statement"), filed with the U.S. Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended (the "Securities Act"). The Registration Statement also covers up to 25.0 million shares available pursuant to a distribution reinvestment plan (the "DRIP") under which the Company's common stockholders may elect to have their distributions reinvested in additional shares of the Company's common stock at a price initially equal to $9.50 per share, which is 95.0% of the offering price of the IPO.

	On March 9, 2012, the Company raised proceeds sufficient to break escrow in connection with its IPO. On March 4, 2013, the Company's board of directors approved an extension of the termination date of the IPO from March 17, 2013 to March 17, 2014. On March 14, 2014, the Company filed a registration statement on Form S-11, as amended (the "Follow-On Registration Statement"), with the SEC to register a follow-on offering of up to 75.0 million shares of common stock, $0.01 par value per share, at a price of $10.00 per share, subject to certain volume and other discounts, and 12.5 million shares of common stock pursuant to the DRIP. However, as permitted by Rule 415 under the Securities Act, the Company will continue offering and selling shares in its IPO until the earlier of September 12, 2014 or the date the SEC declares the Follow-On Registration Statement effective. The Company does not expect to register any shares under the Follow-On Registration Statement that would cause the total shares registered by the Company in the IPO and the follow-on offering, in the aggregate, to exceed the $1.7 billion initial aggregate registration amount of the IPO, including shares initially registered in connection with the DRIP.

	As of March 31, 2014, the Company had 21.0 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 $208.3 million. As of March 31, 2014, the aggregate value of all issuances and subscriptions of common stock outstanding was $210.0 million based on a per share value of $10.00 (or $9.50 for shares issued pursuant to the DRIP).

	The Company has acquired and intends to acquire and own existing anchored, stabilized core retail properties, including power centers, lifestyle centers, large formatted centers with a grocery store component (with a purchase price in excess of $20.0 million) and other need-based shopping centers which are located in the United States and at least 80.0% leased at the time of acquisition. All properties will be acquired and operated by the Company or acquired and operated by the Company jointly with another party. The Company may also originate or acquire first mortgage loans secured by real estate. The Company purchased its first property and commenced active operations in June 2012. As of March 31, 2014, the Company owned three properties with an aggregate purchase price of $107.6 million, comprised of 0.5 million square feet which were 92.4% leased on a weighted-average basis.

	Substantially all of the Company's business is conducted through American Realty Capital Retail Operating Partnership, L.P. (the "OP"), a Delaware limited partnership. The Company is the sole general partner and holds substantially all the units of limited partner interests in the OP ("OP Units"). The Company's external affiliated advisor, American Realty Capital Retail Advisor, LLC (the "Advisor"), a limited partner in the OP, holds 202 OP Units, which represents a nominal percentage of the aggregate OP ownership. After holding the OP Units for a period of one year, or upon liquidation of the OP or sale of substantially all of the assets of the OP, holders of OP Units have the right to convert OP Units for the cash value of a corresponding number of shares of the Company's common stock or, at the option of the OP, a corresponding number of shares of the Company's common stock, in accordance with the limited partnership agreement of the OP. The remaining rights of the limited partner interests are limited, however, and do not include the ability to replace the general partner or to approve the sale, purchase or refinancing of the OP's assets.

	The Company has no employees. The Company has retained the Advisor to manage its affairs on a day-to-day basis. The Advisor has entered into a service agreement with an independent third party, Lincoln Retail REIT Services, LLC, a Delaware limited liability company ("Lincoln"), pursuant to which Lincoln has agreed to provide, subject to the Advisor's oversight, real estate-related services, including locating investments, negotiating financing, and providing property-level asset management services, property management services, leasing and construction oversight services and disposition services, as needed. Realty Capital Securities, LLC (the "Dealer Manager") serves as the dealer manager of the IPO. The Advisor is a wholly owned subsidiary of, and the Dealer Manager is under common ownership with, the Company's sponsor, American Realty Capital IV, LLC (the "Sponsor"), and, as a result of which, they are related parties of the Company. Each has received or may receive, as applicable, compensation, fees and expense reimbursements for services related to the IPO and for the investment and management of the Company's assets. Such entities have received or may receive fees during the offering, acquisition, operational and liquidation stages. The Advisor has paid and will continue to pay Lincoln a substantial portion of the fees payable to the Advisor for the performance of these real estate-related services.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Summary of Significant Accounting Policies

	The accompanying consolidated financial statements of the Company included herein were prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to this Quarterly Report on Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The information furnished includes all adjustments and accruals of a normal recurring nature, which, in the opinion of management, are necessary for a fair presentation of results for these interim periods. All intercompany accounts and transactions have been eliminated in consolidation. The results of operations for the three months ended March 31, 2014 are not necessarily indicative of the results for the entire year or any subsequent interim period.

	These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto as of, and for the year ended December 31, 2013, which are included in the Company's Annual Report on Form 10-K filed with the SEC on March 10, 2014. There have been no significant changes to the Company's significant accounting policies during the three months ended March 31, 2014, other than the updates described below.

	Recently Issued Accounting Pronouncements

	In February 2013, the Financial Accounting Standards Board ("FASB") issued guidance clarifying the accounting and disclosure requirements for obligations resulting from joint and several liability arrangements for which the total amount under the arrangement is fixed at the reporting date. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2013. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.

	In April 2014, the FASB amended the requirements for reporting discontinued operations. Under the revised guidance, in addition to other disclosure requirements, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results when the component or group of components meets the criteria to be classified as held for sale, disposed of by sale or other than by sale. The Company has adopted the provisions of this guidance effective January 1, 2014, and has applied the provisions prospectively. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.

Real_Estate_Investments

Real Estate Investments	3 Months Ended
	Mar. 31, 2014
Real Estate [Abstract]	'
Real Estate Investments	'
	Real Estate Investments

	There were no assets acquired or liabilities assumed during the three months ended March 31, 2014 or 2013.

	The following table reflects the number and related purchase prices of properties acquired during the years ended December 31, 2012 and 2013 and the three months ended March 31, 2014:



	Portfolio		Number of Properties		Base Purchase Price (1)
					(In thousands)
	Year ended December 31, 2012		2		$	54,182

	Year ended December 31, 2013		1		53,450

	Three months ended March 31, 2014		—		—

	Total portfolio as of March 31, 2014		3		$	107,632

	_____________________

	-1	Contract purchase price, excluding acquisition related costs.

	The following table presents future minimum base rent payments on a cash basis due to the Company over the next five years and thereafter. These amounts exclude contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to sales thresholds and increases in annual rent based on exceeding certain economic indexes among other items:



	(In thousands)		Future Minimum
			Base Rent Payments
	April 1, 2014 to December 31, 2014		$	6,612

	2015		8,478

	2016		8,128

	2017		7,815

	2018		6,371

	Thereafter		6,861

			$	44,265


	The following table lists the tenants (including, for this purpose, all affiliates of such tenants) whose annualized rental income on a straight-line basis represented 10.0% or greater of consolidated annualized rental income on a straight-line basis for all portfolio properties as of March 31, 2014 and 2013:



	Tenant		March 31, 2014		March 31, 2013
	Toys "R" Us - Delaware, Inc.		10.30%		19.80%
	The Container Store, Inc.		*		12.00%
	____________________________

	*	Tenant's annualized rental income on a straight-line basis was not greater than or equal to 10.0% of consolidated annualized rental income for all portfolio properties as of the date specified.

	The termination, delinquency or non-renewal of leases by one or more of the above tenants may have a material adverse effect on revenues. No other tenant represents 10.0% or greater of consolidated annualized rental income on a straight-line basis as of March 31, 2014 and 2013.

	The following table lists the states where the Company has concentrations of properties where annualized rental income on a straight-line basis represented 10.0% or greater of consolidated annualized rental income on a straight-line basis as of March 31, 2014 and 2013:



			March 31,
	State		2014		2013
	Missouri		46.80%		*
Texas		53.20%		100.00%
____________________________

*	State's annualized rental income on a straight-line basis was not greater than or equal to 10.0% of consolidated annualized rental income for all portfolio properties as of the period specified.

The Company did not own properties in any other state that in total represented 10.0% or greater of consolidated annualized rental income on a straight-line basis as of March 31, 2014 and 2013.

Mortgage_Notes_Payable

Mortgage Notes Payable	3 Months Ended
Mortgage Notes Payable	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Mortgage Note Payable	'
	Mortgage Notes Payable

	The Company's mortgage notes payable as of March 31, 2014 and December 31, 2013 consist of the following:



					Outstanding Loan Amount as of				Effective Interest Rate
	Portfolio		Encumbered Properties		March 31,		December 31,					Interest Rate		Maturity Date
	Portfolio		Encumbered Properties		2014		2013					Interest Rate		Maturity Date
					(In thousands)		(In thousands)
	Liberty Crossing - Refinanced Loan (1) (2)		1		$	11,000	$	11,000	4.66	%		Fixed		Jul. 2018
	Liberty Crossing - Refinanced Loan (1) (2)		1		$	11,000	$	11,000	4.66	%		Fixed		Jul. 2018
	San Pedro Crossing - Senior Loan (1)		1		17,985		17,985		3.79	%		Fixed		Jan. 2018
	San Pedro Crossing - Senior Loan (1)		1		17,985		17,985		3.79	%		Fixed		Jan. 2018
	Tiffany Springs (1)		1		34,098		34,098		3.92	%		Fixed	(3)	Oct. 2018
	Tiffany Springs (1)		1		34,098		34,098		3.92	%		Fixed	(3)	Oct. 2018
	Total		3		$	63,083	$	63,083	4.01	%	(4)
	Total		3		$	63,083	$	63,083	4.01	%	(4)
	_________________________________

	-1	Payments and obligations pursuant to these mortgage agreements are guaranteed by AR Capital, LLC, the entity that wholly owns the Company's Sponsor.

	-2	The Company refinanced the Liberty Crossing property in June 2013.

	-3	Fixed as a result of entering into a swap agreement.

	-4	Calculated on a weighted-average basis for all mortgages outstanding as of March 31, 2014.

	The following table summarizes the scheduled aggregate principal payments for the Company's mortgage notes payable subsequent to March 31, 2014:



	(In thousands)		Future Principal Payments
	April 1, 2014 to December 31, 2014		$	—
	April 1, 2014 to December 31, 2014		$	—
	2015		—
	2015		—
	2016		—
	2016		—
	2017		—
	2017		—
	2018		63,083
	2018		63,083
	Thereafter		—
	Thereafter		—
			$	63,083
			$	63,083

	The Company's mortgage notes payable agreements require the compliance of certain property-level financial covenants including debt service coverage ratios. As of March 31, 2014, the Company was in compliance with financial covenants under its mortgage notes payable agreements.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The Company determines fair value based on quoted prices when available or through the use of alternative approaches, such as discounting the expected cash flows using market interest rates commensurate with the credit quality and duration of the investment. This alternative approach also reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The guidance defines three levels of inputs that may be used to measure fair value:

Level 1 — Quoted prices in active markets for identical assets and liabilities that the reporting entity has the ability to access at the measurement date.

Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset and liability or can be corroborated with observable market data for substantially the entire contractual term of the asset or liability.

Level 3 — Unobservable inputs that reflect the entity's own assumptions about the assumptions that market participants would use in the pricing of the asset or liability and are consequently not based on market activity, but rather through particular valuation techniques.

The determination of where an asset or liability falls in the hierarchy requires significant judgment and considers factors specific to the asset or liability. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company evaluates its hierarchy disclosures each quarter and depending on various factors, it is possible that an asset or liability may be classified differently from quarter to quarter. However, the Company expects that changes in classifications between levels will be rare.

Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with those derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by the Company and its counterparties. However, as of March 31, 2014 and December 31, 2013, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of the Company's derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy.

The valuation of derivative instruments is determined using a discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves and implied volatilities. In addition, credit valuation adjustments, are incorporated into the fair values to account for the Company's potential nonperformance risk and the performance risk of the counterparties.

The following table presents information about the Company's assets and liabilities (including derivatives that are presented net) measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013, aggregated by the level in the fair value hierarchy within which those instruments fall:

(In thousands)

Quoted Prices

Significant Other

Significant

Total

in Active

Observable

Unobservable

Markets

Inputs

Level 1

Level 2

Level 3

March 31, 2014

Interest rate swap

—

(143

)

—

(143

)

December 31, 2013

Interest rate swap

—

(98

)

—

(98

)

A review of the fair value hierarchy classification is conducted on a quarterly basis. Changes in the type of inputs may result in a reclassification for certain assets. There were no transfers between Level 1 and Level 2 of the fair value hierarchy during the three months ended March 31, 2014 or the year ended December 31, 2013.

The Company is required to disclose the fair value of financial instruments for which it is practicable to estimate that value. The fair value of short-term financial instruments such as cash and cash equivalents, restricted cash, other receivables, accounts payable and distributions payable approximates their carrying value on the consolidated balance sheets due to their short-term nature. The fair values of the Company's remaining financial instruments that are not reported at fair value on the consolidated balance sheets are reported below:

Carrying Amount at

Fair Value at

Carrying Amount at

Fair Value at

(In thousands)

Level

March 31, 2014

December 31, 2013

Mortgage notes payable

63,083

62,909

63,083

62,824

The fair value of mortgage notes payable are estimated using a discounted cash flow analysis, based on the Advisor's experience with similar types of borrowing arrangements.

Derivatives_and_Hedging_Activi

Derivatives and Hedging Activities	3 Months Ended
Derivatives and Hedging Activities	Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivatives and Hedging Activities	'
	Derivatives and Hedging Activities

	Risk Management Objective of Using Derivatives

	The Company may use derivative financial instruments, including interest rate swaps, caps, options, floors and other interest rate derivative contracts, to hedge all or a portion of the interest rate risk associated with its borrowings. The principal objective of such arrangements is to minimize the risks and/or costs associated with the Company's operating and financial structure as well as to hedge specific anticipated transactions. The Company does not intend to utilize derivatives for speculative or other purposes other than interest rate risk management. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company only enters into derivative financial instruments with counterparties with high credit ratings and with major financial institutions with which the Company and its affiliates may also have other financial relationships. The Company does not anticipate that any of the counterparties will fail to meet their obligations.

	Cash Flow Hedges of Interest Rate Risk

	The Company's objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps and collars as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Interest rate collars designated as cash flow hedges involve the receipt of variable-rate amounts if interest rates rise above the cap strike rate on the contract and payments of variable-rate amounts if interest rates fall below the floor strike rate on the contract.

	The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During 2014 and 2013, such derivatives have been used to hedge the variable cash flows associated with variable-rate debt. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings.

	Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company's variable-rate debt. During the next 12 months, the Company estimates that an additional $0.5 million will be reclassified from other comprehensive income as an increase to interest expense.

	As of March 31, 2014 and December 31, 2013, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:



		March 31, 2014						December 31, 2013
	Interest Rate Derivative	Number of		Notional Amount				Number of		Notional Amount
	Interest Rate Derivative	Instruments		Notional Amount				Instruments		Notional Amount
				(In thousands)						(In thousands)
	Interest Rate Swap	1		$	34,098			1		$	34,098
	Interest Rate Swap	1		$	34,098			1		$	34,098

	The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheets as of March 31, 2014 and December 31, 2013:



	(In thousands)	Balance Sheet Location		March 31, 2014				December 31, 2013
	Derivatives designated as hedging instruments:
	Interest Rate Swap	Derivatives, at fair value		$	(143	)		$	(98	)

	The table below details the location in the consolidated financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three months ended March 31, 2014. The Company had no active derivatives during the three months ended March 31, 2013:



	(In thousands)	Three Months Ended March 31, 2014
	Amount of gain (loss) recognized in accumulated other comprehensive loss from interest rate derivatives (effective portion)	$	(169	)
	Amount of gain (loss) reclassified from accumulated other comprehensive loss into income as interest expense (effective portion)	$	(124	)
	Amount of loss recognized in income on derivative (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing)	$	—
		$	—

	Offsetting Derivatives

	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of March 31, 2014 and December 31, 2013. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the accompanying consolidated balance sheets:



													Gross Amounts Not Offset on the Balance Sheet
	(In thousands)	Gross Amounts of Recognized Liabilities				Gross Amounts Offset on the Balance Sheet				Net Amounts of Liabilities presented on the Balance Sheet			Financial Instruments		Cash Collateral Received (Posted)		Net Amount
	March 31, 2014	$	(143	)		$	—			$	(143	)	$	—	$	—	$	(143	)
	March 31, 2014	$	(143	)		$	—			$	(143	)	$	—	$	—	$	(143	)
	December 31, 2013	$	(98	)		$	—			$	(98	)	$	—	$	—	$	(98	)
	December 31, 2013	$	(98	)		$	—			$	(98	)	$	—	$	—	$	(98	)

	Derivatives Not Designated as Hedges

	Derivatives not designated as hedges are not speculative. These derivatives may be used to manage the Company's exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements to be classified as hedging instruments. The Company does not have any hedging instruments that do not qualify for hedge accounting.

	Credit-risk-related Contingent Features

	The Company has agreements with each of its derivative counterparties that contain a provision where if the Company either defaults or is capable of being declared in default on any of its indebtedness, then the Company could also be declared in default on its derivative obligations.

As of March 31, 2014, the fair value of derivatives in a net liability position including accrued interest but excluding any adjustment for nonperformance risk related to these agreements was $0.2 million. As of March 31, 2014, the Company has not posted any collateral related to these agreements and was not in breach of any agreement provisions. If the Company had breached any of these provisions, it could have been required to settle its obligations under the agreements at their aggregate termination value of $0.2 million at March 31, 2014.

Common_Stock

Common Stock	3 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Common Stock	'
	Common Stock

	As of March 31, 2014 and December 31, 2013, the Company had 21.0 million and 7.3 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 $208.3 million and $71.3 million, respectively.

	On September 19, 2011, the Company's board of directors authorized, and the Company declared, a distribution, which is calculated based on stockholders of record each day during the applicable period at a rate of $0.0017534247 per day or $0.64 annually per share of common stock. Distributions began to accrue on June 8, 2012, the date of the Company's initial property acquisition. Distributions are payable by the 5th day following each month end to stockholders of record at the close of business each day during the prior month. The board of directors may reduce the amount of distributions paid or suspend distribution payments at any time and therefore distribution payments are not assured.

	The following table summarizes the repurchases of shares under the Company's Share Repurchase Plan ("SRP") cumulatively through March 31, 2014:



		Number of Requests	Number of Shares Repurchased	Weighted-Average Price per Share
	Cumulative repurchases as of December 31, 2013	1	8,674	$	9.98

	Three Months Ended March 31, 2014	—	—	—

	Cumulative repurchases as of March 31, 2014	1	8,674	$	9.98

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies

	Litigation

	In the ordinary course of business, the Company may become subject to litigation or claims. There are no material legal proceedings pending or known to be contemplated against the Company or its properties.

	Environmental Matters

	In connection with the ownership and operation of real estate, the Company may potentially be liable for costs and damages related to environmental matters. The Company has not been notified by any governmental authority of any non-compliance, liability or other claim, and is not aware of any other environmental condition that it believes will have a material adverse effect on its financial position or results of operations.

Related_Party_Transactions_and

Related Party Transactions and Arrangements	3 Months Ended
	Mar. 31, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions and Arrangements	'
	Related Party Transactions and Arrangements

	The Sponsor and American Realty Capital Retail Special Limited Partnership, LLC, an entity controlled by the Sponsor, owned 242,222 shares of the Company's outstanding common stock as of March 31, 2014 and December 31, 2013. As of March 31, 2014 and December 31, 2013, the Advisor owned 202 OP Units.

	Fees Paid in Connection with the IPO

	The Dealer Manager receives fees and compensation in connection with the sale of the Company's common stock in the IPO. The Dealer Manager receives a selling commission of up to 7.0% of gross offering proceeds before reallowance of commissions earned by participating broker-dealers. In addition, the Dealer Manager receives up to 3.0% of the gross proceeds from the sale of common stock, before reallowance to participating broker-dealers, as a dealer-manager fee. The Dealer Manager may reallow its dealer-manager fee to such participating broker-dealers, based on such factors as the volume of shares sold by respective participating broker-dealers and marketing support incurred as compared to those of other participating broker-dealers. The following table details total selling commissions and dealer manager fees incurred by the Company during the three months ended March 31, 2014 and 2013 and payable to the Dealer Manager as of March 31, 2014 and December 31, 2013:



			Three Months Ended March 31,						Payable as of
	(In thousands)		2014			2013			March 31, 2014			December 31, 2013
	Total commissions and fees from the Dealer Manager		$	12,947		$	497		$	190		$	46


	The Advisor and its affiliates receive compensation and expense reimbursements for services relating to the IPO, including transfer agent services provided by an affiliate of the Dealer Manager. All offering costs incurred by the Company or its affiliated entities on behalf of the Company are charged to additional paid-in capital on the accompanying consolidated balance sheets. The following table details offering costs and reimbursements incurred during the three months ended March 31, 2014 and 2013 and payable to the Advisor and Dealer Manager as of March 31, 2014 and December 31, 2013:



			Three Months Ended March 31,						Payable as of
	(In thousands)		2014			2013			March 31, 2014			December 31, 2013
	Fees and expense reimbursements from the Advisor and Dealer Manager		$	422		$	511		$	3,196		$	4,609


	The Company is responsible for offering and related costs from the IPO, excluding commissions and dealer manager fees, up to a maximum of 1.5% of gross proceeds received from the IPO, measured at the end of the IPO. Offering costs in excess of the 1.5% cap as of the end of the IPO are the Advisor's responsibility. As of March 31, 2014, offering and related costs, excluding commissions and dealer manager fees, exceeded 1.5% of gross proceeds received from the IPO by $6.5 million.

	The Advisor has elected to cap cumulative offering costs incurred by the Company, net of unpaid amounts, to 15.0% of gross common stock proceeds received from the IPO. As of March 31, 2014, cumulative offering costs were $28.9 million. Cumulative offering costs, net of unpaid amounts, were less than the 15.0% threshold as of March 31, 2014.

	Fees Paid in Connection With the Operations of the Company

	The Advisor receives an acquisition fee of 1.0% of the contract purchase price of each acquired property and 1.0% of the amount advanced for any loan or other investment and is reimbursed for acquisition costs incurred in the process of acquiring properties, which is expected to be approximately 0.5% of the contract purchase price. In no event will the total of all acquisition fees and acquisition expenses (including any finance coordination fee) payable with respect to a particular investment exceed 4.5% of the contract purchase price. Once the proceeds from the IPO have been fully invested, the aggregate amount of acquisition fees and financing coordination fees (as described below) shall not exceed 1.5% of the contract purchase price and the amount advanced for a loan or other investment, as applicable, for all the assets acquired.

	If the Advisor provides services in connection with the origination or refinancing of any debt that the Company obtains and uses to acquire properties or to make other permitted investments, or that is assumed, directly or indirectly, in connection with the acquisition of properties, the Company will pay the Advisor a financing coordination fee equal to 1.0% of the amount available and/or outstanding under such financing, subject to certain limitations.

	Prior to October 1, 2013, the Company paid the Advisor an annual fee of up to 0.75% of average invested assets to provide asset management services. Average invested assets is defined as the average of the aggregate book value of assets invested, directly or indirectly, in properties, mortgage loans and other debt financing investments and other real estate-related investments secured by real estate before reserves for depreciation or bad debts or other similar non-cash reserves. However, the asset management fee was reduced by any amounts payable to the Advisor as an oversight fee, such that the aggregate of the asset management fee and the oversight fee did not exceed 0.75% per annum of average invested assets. Such asset management fee was payable, at the discretion of the Company's board, in cash, common stock or restricted stock grants, or any combination thereof. The asset management fee was reduced to the extent that the Company's funds from operations, as adjusted, during the six months ending on the last calendar quarter immediately preceding the date the asset management fee was payable was less than the distributions declared with respect to such six month period.

	Effective October 1, 2013, the payment of asset management fees in cash, shares or restricted stock grants, or any combination thereof to the Advisor and the reduction of the asset management fee to the extent, if any, that the Company's funds from operations, as adjusted, during the six months ending on the last calendar quarter immediately preceding the date the asset management fee was payable was less than the distributions declared with respect to such six month period were eliminated. Instead, the Company expects to issue (subject to periodic approval by the board of directors) to the Advisor performance-based restricted partnership units of the OP designated as "Class B Units," which are intended to be profit interests and will vest, and no longer be subject to forfeiture, at such time as: (x) the value of the OP's assets plus all distributions made equals or exceeds the total amount of capital contributed by investors plus a 7.0% cumulative, pre-tax, non-compounded annual return thereon (the "economic hurdle"); (y) any one of the following occurs: (1) the termination of the advisory agreement by an affirmative vote of a majority of the Company's independent directors without cause; (2) a listing; or (3) another liquidity event; and (z) the Advisor is still providing advisory services to the Company (the "performance condition"). Such Class B Units will be forfeited immediately if: (a) the advisory agreement is terminated other than by an affirmative vote of a majority of the Company's independent directors without cause; or (b) the advisory agreement is terminated by an affirmative vote of a majority of the Company's independent directors without cause before the economic hurdle has been met.

	The Class B Units will be issued in an amount equal to the cost of the Company's assets multiplied by 0.1875%, divided by the value of one share of common stock as of the last day of such calendar quarter, which is equal initially to $9.00 (the initial offering price in the IPO minus selling commissions and dealer manager fees). When and if approved by the board of directors, the Class B Units are expected to be issued to the Advisor quarterly in arrears pursuant to the terms of the limited partnership agreement of the OP. As of March 31, 2014, the Company cannot determine the probability of achieving the performance condition. The value of issued Class B Units will be determined and expensed when the Company deems the achievement of the performance condition to be probable. The Advisor receives distributions on the vested and unvested Class B Units it receives in connection with its asset management subordinated participation at the same rate as distributions received on the Company's common stock. Such distributions on issued Class B Units are included in general and administrative expenses in the consolidated statements of operations and comprehensive loss until the performance condition is considered probable to occur. As of March 31, 2014, the Company's board of directors has approved the issuance of 21,400 Class B Units to the Advisor in connection with this arrangement.

	In connection with property management and leasing services, unless the Company contracts with a third party, the Company will pay to an affiliate of the Advisor a property management fee of 2.0% of gross revenues from the Company's stand-alone single-tenant net leased properties which are not part of a shopping center and 4.0% of gross revenues from all other types of properties, respectively. The Company will also reimburse the affiliate for property level expenses. If the Company contracts directly with third parties for such services, the Company will pay them customary market fees and, prior to January 28, 2014, would pay the Advisor an oversight fee of up to 1.0% of the gross revenues of the property managed. In no event would the Company pay the Advisor or any affiliate both a property management fee and an oversight fee with respect to any particular property. Effective January 28, 2014 the Advisor eliminated the oversight fee.

	In connection with any construction, renovation or tenant finish-out on any property, the Company will pay the Advisor 6.0% of the hard costs of the construction, renovation and/or tenant finish-out, as applicable.

	Effective March 1, 2013, the Company entered into an agreement with the Dealer Manager to provide strategic advisory services and investment banking services required in the ordinary course of the Company's business, such as performing financial analysis, evaluating publicly traded comparable companies and assisting in developing a portfolio composition strategy, a capitalization structure to optimize future liquidity options and structuring operations. Strategic advisory fees are amortized over approximately 19 months, the estimated remaining term of the IPO, and are included in general and administrative expenses on the consolidated statements of operations and comprehensive loss.

	The following table details amounts incurred and forgiven during the three months ended March 31, 2014 and 2013 and amounts contractually due as of March 31, 2014 and December 31, 2013 in connection with the operations related services described above:



			Three Months Ended March 31,												Payable as of
			2014						2013						March 31,			December 31,
	(In thousands)		Incurred			Forgiven			Incurred			Forgiven			2014			2013
	One-time fees and reimbursements:
	Acquisition fees and related cost reimbursements		$	—		$	—		$	—		$	—		$	—		$	—

	Financing coordination fees		—			—			—			—			—			—

	Other expense reimbursements		—			—			—			—			—			—

	Ongoing fees:
	Asset management fees (1)		—			—			—			18			—			—

Property management and leasing fees		—			—			—			14			—			—

Strategic advisory fees		149			—			73			—			—			—

Total related party operation fees and reimbursements		$	149		$	—		$	73		$	32		$	—		$	—

_________________________________

-1	These fees have been waived. Effective October 1, 2013, the Company expects to issue (subject to approval by the board of directors) to the Advisor restricted performance-based Class B Units for asset management services, which will be forfeited immediately if certain conditions occur.

The Company will reimburse the Advisor's costs of providing administrative services, subject to the limitation that it will not reimburse the Advisor for any amount by which the Company's operating expenses (including the asset management fee) at the end of the four preceding fiscal quarters exceeds the greater of (a) 2.0% of average invested assets, or (b) 25.0% of net income other than any additions to reserves for depreciation, bad debt or other similar non cash reserves and excluding any gain from the sale of assets for that period. Additionally, the Company reimburses the Advisor for personnel costs in connection with other services during the operational stage; however, the Company will not reimburse the Advisor for personnel costs in connection with services for which the Advisor receives acquisition fees, acquisition expenses or real estate commissions. No reimbursements were incurred from the Advisor for providing services during the three months ended March 31, 2014 or 2013.

In order to improve operating cash flows and the ability to pay distributions from operating cash flows, the Advisor agreed to waive certain fees. Because the Advisor may waive certain fees, cash flow from operations that would have been paid to the Advisor may be available to pay distributions to stockholders. The fees that may be forgiven are not deferrals and accordingly, will not be paid to the Advisor. In certain instances, to improve the Company's working capital, the Advisor may elect to absorb a portion of the Company's general and administrative costs and/or property operating costs. The Advisor absorbed $0.3 million and $0.2 million of general and administrative costs during the three months ended March 31, 2014 and 2013, respectively. General and administrative expenses are presented net of costs absorbed by the Advisor on the accompanying consolidated statements of operations and comprehensive loss.

Fees Paid in Connection with the Liquidation or Listing of the Company's Real Estate Assets

The Company will pay a brokerage commission on the sale of property, not to exceed the lesser of 2.0% of the contract sale price of the property and one-half of the total brokerage commission paid, if a third party broker is also involved; provided, however, that in no event may the real estate commissions paid to the Advisor, its affiliates and unaffiliated third parties exceed the lesser of 6.0% of the contract sales price and a reasonable, customary and competitive real estate commission, in light of the size, type and location of the property, in each case, payable to the Advisor if the Advisor or its affiliates, as determined by a majority of the independent directors, provided a substantial amount of services in connection with the sale. No such fees were incurred during the three months ended March 31, 2014 or 2013.

If the Company is not simultaneously listed on an exchange, the Company will pay a subordinated participation in the net sales proceeds of the sale of real estate assets of 15.0% of remaining net sale proceeds after return of capital contributions to investors plus payment to investors of a 7.0% cumulative, pre-tax non-compounded return on the capital contributed by investors. The Company cannot assure that it will provide this 7.0% return but the Advisor will not be entitled to the subordinated participation in net sale proceeds unless the Company's investors have received a 7.0% cumulative non-compounded return on their capital contributions plus the 100.0% repayment of capital committed by such investors. No such amounts were incurred during the three months ended March 31, 2014 or 2013.

The Company will pay a subordinated incentive listing distribution of 15.0%, payable in the form of a non-interest bearing promissory note, of the amount by which the adjusted market value plus distributions paid prior to listing exceeds the aggregate capital contributed by investors plus an amount equal to a 7.0% cumulative, pre-tax non-compounded annual return to investors. The Company cannot assure that it will provide this 7.0% return but the Advisor will not be entitled to the subordinated incentive listing distribution unless investors have received a 7.0% cumulative, pre-tax non-compounded annual return on their capital contributions plus the 100.0% repayment of capital committed by such investors. No such amounts were incurred during the three months ended March 31, 2014 or 2013. Neither the Advisor nor any of its affiliates can earn both the subordination participation in the net proceeds and the subordinated listing distribution.

Upon termination or non-renewal of the advisory agreement, the Advisor will receive distributions from the OP, if any, payable in the form of a non-interest bearing promissory note. In addition, the Advisor may elect to defer its right to receive a subordinated distribution upon termination until either a listing on a national securities exchange or other liquidity event occurs.

Economic_Dependency

Economic Dependency	3 Months Ended
Economic Dependency	Mar. 31, 2014
Economic Dependency [Abstract]	'
Economic Dependency	'
	Economic Dependency

	Under various agreements, the Company has engaged or will engage the Advisor, its affiliates and entities under common ownership with the Advisor to provide certain services that are essential to the Company, including asset management services, supervision of the management and leasing of properties owned by the Company, asset acquisition and disposition decisions, the sale of shares of the Company's common stock available for issue, transfer agency services, as well as other administrative responsibilities for the Company including accounting services, transaction management services and investor relations.

	As a result of these relationships, the Company is dependent upon the Advisor and its affiliates. In the event that these companies are unable to provide the Company with the respective services, the Company will be required to find alternative providers of these services.

ShareBased_Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Share-Based Compensation	'
	Share-Based Compensation

	Stock Option Plan

	The Company has a stock option plan (the "Plan") which authorizes the grant of nonqualified stock options to the Company's independent directors, officers, advisors, consultants and other personnel, subject to the absolute discretion of the board of directors and the applicable limitations of the Plan. The exercise price for all stock options granted under the Plan will be fixed at $10.00 per share until the termination of the IPO, and thereafter the exercise price for stock options granted to the independent directors will be equal to the fair market value of a share on the last business day preceding the annual meeting of stockholders. A total of 0.5 million shares have been authorized and reserved for issuance under the Plan. As of March 31, 2014 and December 31, 2013, no stock options were issued under the Plan.

	Restricted Share Plan

	The Company has an employee and director incentive restricted share plan (the "RSP"), which provides for the automatic grant of 3,000 restricted shares of common stock to each of the independent directors, without any further action by the Company's board of directors or the stockholders, on the date of initial election to the board of directors and on the date of each annual stockholders' meeting. Restricted stock issued to independent directors will vest over a five-year period following the date of grant in increments of 20.0% per annum. The RSP provides the Company with the ability to grant awards of restricted shares to the Company's directors, officers and employees (if the Company ever has employees), employees of the Advisor and its affiliates, employees of entities that provide services to the Company, directors of the Advisor or of entities that provide services to the Company, certain consultants to the Company and the Advisor and its affiliates or to entities that provide services to the Company. The fair market value of any shares of restricted stock granted under the RSP, together with the total amount of acquisition fees, acquisition expense reimbursements, asset management fees, financing coordination fees, disposition fees and subordinated distributions by the OP payable to the Advisor, shall not exceed (a) 6.0% of all properties' aggregate gross contract purchase price, (b) as determined annually, the greater, in the aggregate, of 2.0% of average invested assets and 25.0% of net income other than any additions to reserves for depreciation, bad debt or other similar non-cash reserves and excluding any gain from the sale of assets for that period, (c) disposition fees, if any, of up to 3.0% of the contract sales price of all properties that the Company sells and (d) 15.0% of remaining net sales proceeds after return of capital contributions plus payment to investors of an annual 6.0% cumulative, pre-tax, non-compounded return on the capital contributed by investors. The total number of shares of common stock granted under the RSP shall not exceed 5.0% of the Company's outstanding shares of common stock on a fully diluted basis at any time and in any event will not exceed 7.5 million shares (as such number may be adjusted for stock splits, stock dividends, combinations and similar events).

	Restricted share awards entitle the recipient to receive shares of common stock from the Company under terms that provide for vesting over a specified period of time. Such awards would typically be forfeited with respect to the unvested shares upon the termination of the recipient's employment or other relationship with the Company. Restricted shares may not, in general, be sold or otherwise transferred until restrictions are removed and the shares have vested. Holders of restricted shares may receive cash distributions prior to the time that the restrictions on the restricted shares have lapsed. Any distributions payable in shares of common stock shall be subject to the same restrictions as the underlying restricted shares. The following table reflects restricted share award activity for the three months ended March 31, 2014:



		Number of Shares of Restricted Stock			Weighted-Average Issue Price Per Share
	Unvested, December 31, 2013	19,800			$	9.18

	Granted	—			—

	Vested	(1,200	)		10

	Unvested, March 31, 2014	18,600			$	9.13


	As of March 31, 2014, the Company had $0.1 million of unrecognized compensation cost related to unvested restricted share awards granted under the Company's RSP. That cost is expected to be recognized over a weighted-average period of 3.6 years.

	The fair value of the shares, which is based on the IPO price, is being expensed over the vesting period of five years, adjusted for the timing of board member resignations. Compensation expense related to restricted stock was approximately $11,000 and $7,000 during the three months ended March 31, 2014 and 2013, respectively.

	Other Share-Based Compensation

	The Company may issue common stock in lieu of cash to pay fees earned by the Company's directors, at each director's election. There are no restrictions on the shares issued since these payments in lieu of cash relate to fees earned for services performed. The following table reflects the shares of common stock issued to directors in lieu of cash compensation:



			Three Months Ended March 31,
			2014				2013
	Shares issued in lieu of cash		500				—

	Value of shares issued in lieu of cash (in thousands)		$	4			$	—

Net_Loss_Per_Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Net Loss Per Share	'
	Net Loss Per Share

	The following is a summary of the basic and diluted net loss per share computation for the three months ended March 31, 2014 and 2013:



		Three Months Ended March 31,
		2014				2013
	Net loss (in thousands)	$	(599	)		$	(1,052	)
	Basic and diluted weighted-average shares outstanding	12,997,881				969,506

	Basic and diluted net loss per share	$	(0.05	)		$	(1.09	)

	The following common stock equivalents as of March 31, 2014 and 2013 were excluded from diluted net loss per share computations as their effect would have been antidilutive:


		March 31,
		2014			2013
	Unvested restricted stock	18,600			12,600

	OP Units	202			202

	Class B Units	21,400			—

	Total common stock equivalents	40,202			12,802

Subsequent_Events

Subsequent Events

3 Months Ended

Mar. 31, 2014

Subsequent Events [Abstract]

Subsequent Events

The Company has evaluated subsequent events through the filing of this Quarterly Report on Form 10-Q, 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 April 30, 2014, the Company had 25.9 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 $256.3 million. As of April 30, 2014, the aggregate value of all share issuances was $258.3 million, based on a per share value of $10.00 (or $9.50 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)

Inception to

April 1, 2014 to

Total

31-Mar-14

30-Apr-14

Common stock

208,325

47,972

256,297

Acquisitions

The following table presents certain information about the properties that the Company acquired from April 1, 2014 to May 7, 2014:

(Dollar amounts in thousands)

Number of Properties

Base Purchase Price (1)

Rentable Square Feet

Total portfolio — March 31, 2014

107,632

546,317

Acquisitions

40,500

167,155

Total portfolio — May 7, 2014

148,132

713,472

_______________________________

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

Sale of Outparcel of Land

During April 2014, the Company completed the sale of the outparcel of land at Tiffany Springs MarketCenter that was classified as held for sale as of March 31, 2014.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2014
Accounting Policies [Abstract]	'
Recently Issued Accounting Pronouncements	'
	Recently Issued Accounting Pronouncements

	In February 2013, the Financial Accounting Standards Board ("FASB") issued guidance clarifying the accounting and disclosure requirements for obligations resulting from joint and several liability arrangements for which the total amount under the arrangement is fixed at the reporting date. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2013. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.

	In April 2014, the FASB amended the requirements for reporting discontinued operations. Under the revised guidance, in addition to other disclosure requirements, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results when the component or group of components meets the criteria to be classified as held for sale, disposed of by sale or other than by sale. The Company has adopted the provisions of this guidance effective January 1, 2014, and has applied the provisions prospectively. The adoption of this guidance did not have a material impact on the Company's consolidated financial position, results of operations or cash flows.

Real_Estate_Investments_Tables

Real Estate Investments (Tables)	3 Months Ended
	Mar. 31, 2014
Real Estate [Abstract]	'
Schedule of Business Acquisitions, by Acquisition	'
	The following table reflects the number and related purchase prices of properties acquired during the years ended December 31, 2012 and 2013 and the three months ended March 31, 2014:



	Portfolio		Number of Properties		Base Purchase Price (1)
					(In thousands)
	Year ended December 31, 2012		2		$	54,182

	Year ended December 31, 2013		1		53,450

	Three months ended March 31, 2014		—		—

	Total portfolio as of March 31, 2014		3		$	107,632

	_____________________

	-1	Contract purchase price, excluding acquisition related costs.
Schedule of Future Minimum Rental Payments for Operating Leases	'
	The following table presents future minimum base rent payments on a cash basis due to the Company over the next five years and thereafter. These amounts exclude contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to sales thresholds and increases in annual rent based on exceeding certain economic indexes among other items:



	(In thousands)		Future Minimum
			Base Rent Payments
	April 1, 2014 to December 31, 2014		$	6,612

	2015		8,478

	2016		8,128

	2017		7,815

	2018		6,371

	Thereafter		6,861

			$	44,265

Schedule of Annualized Rental Income by Major Tenants	'
	The following table lists the tenants (including, for this purpose, all affiliates of such tenants) whose annualized rental income on a straight-line basis represented 10.0% or greater of consolidated annualized rental income on a straight-line basis for all portfolio properties as of March 31, 2014 and 2013:



	Tenant		March 31, 2014		March 31, 2013
	Toys "R" Us - Delaware, Inc.		10.30%		19.80%
	The Container Store, Inc.		*		12.00%
	____________________________

	*	Tenant's annualized rental income on a straight-line basis was not greater than or equal to 10.0% of consolidated annualized rental income for all portfolio properties as of the date specified.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	'
	The following table lists the states where the Company has concentrations of properties where annualized rental income on a straight-line basis represented 10.0% or greater of consolidated annualized rental income on a straight-line basis as of March 31, 2014 and 2013:



			March 31,
	State		2014		2013
	Missouri		46.80%		*
	Texas		53.20%		100.00%
	____________________________

	*	State's annualized rental income on a straight-line basis was not greater than or equal to 10.0% of consolidated annualized rental income for all portfolio properties as of the period specified.

Mortgage_Notes_Payable_Tables

Mortgage Notes Payable (Tables)	3 Months Ended
Mortgage Notes Payable (Tables)	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Schedule of Long-term Debt Instruments	'
	The Company's mortgage notes payable as of March 31, 2014 and December 31, 2013 consist of the following:



					Outstanding Loan Amount as of				Effective Interest Rate
	Portfolio		Encumbered Properties		March 31,		December 31,					Interest Rate		Maturity Date
	Portfolio		Encumbered Properties		2014		2013					Interest Rate		Maturity Date
					(In thousands)		(In thousands)
	Liberty Crossing - Refinanced Loan (1) (2)		1		$	11,000	$	11,000	4.66	%		Fixed		Jul. 2018
	Liberty Crossing - Refinanced Loan (1) (2)		1		$	11,000	$	11,000	4.66	%		Fixed		Jul. 2018
	San Pedro Crossing - Senior Loan (1)		1		17,985		17,985		3.79	%		Fixed		Jan. 2018
	San Pedro Crossing - Senior Loan (1)		1		17,985		17,985		3.79	%		Fixed		Jan. 2018
	Tiffany Springs (1)		1		34,098		34,098		3.92	%		Fixed	(3)	Oct. 2018
	Tiffany Springs (1)		1		34,098		34,098		3.92	%		Fixed	(3)	Oct. 2018
	Total		3		$	63,083	$	63,083	4.01	%	(4)
	Total		3		$	63,083	$	63,083	4.01	%	(4)
	_________________________________

	-1	Payments and obligations pursuant to these mortgage agreements are guaranteed by AR Capital, LLC, the entity that wholly owns the Company's Sponsor.

	-2	The Company refinanced the Liberty Crossing property in June 2013.

	-3	Fixed as a result of entering into a swap agreement.

	-4	Calculated on a weighted-average basis for all mortgages outstanding as of March 31, 2014.
Schedule of Maturities of Long-term Debt	'
	The following table summarizes the scheduled aggregate principal payments for the Company's mortgage notes payable subsequent to March 31, 2014:



	(In thousands)		Future Principal Payments
	April 1, 2014 to December 31, 2014		$	—
	April 1, 2014 to December 31, 2014		$	—
	2015		—
	2015		—
	2016		—
	2016		—
	2017		—
	2017		—
	2018		63,083
	2018		63,083
	Thereafter		—
	Thereafter		—
			$	63,083
			$	63,083

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	'
	March 31, 2014 and December 31, 2013, aggregated by the level in the fair value hierarchy within which those instruments fall:



	(In thousands)	Quoted Prices				Significant Other				Significant				Total
		in Active				Observable				Unobservable
		Markets				Inputs				Inputs
		Level 1				Level 2				Level 3
	March 31, 2014
	Interest rate swap	$	—			$	(143	)		$	—			$	(143	)

	December 31, 2013
	Interest rate swap	$	—			$	(98	)		$	—			$	(98	)

Fair Value, by Balance Sheet Grouping	'
	The fair values of the Company's remaining financial instruments that are not reported at fair value on the consolidated balance sheets are reported below:



				Carrying Amount at				Fair Value at				Carrying Amount at				Fair Value at
	(In thousands)	Level		March 31, 2014				March 31, 2014				December 31, 2013				December 31, 2013
	Mortgage notes payable	3		$	63,083			$	62,909			$	63,083			$	62,824

Derivatives_and_Hedging_Activi1

Derivatives and Hedging Activities (Tables)	3 Months Ended
Derivatives and Hedging Activities (Tables)	Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Schedule of Interest Rate Derivatives	'
	As of March 31, 2014 and December 31, 2013, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:



		March 31, 2014						December 31, 2013
	Interest Rate Derivative	Number of		Notional Amount				Number of		Notional Amount
	Interest Rate Derivative	Instruments		Notional Amount				Instruments		Notional Amount
				(In thousands)						(In thousands)
	Interest Rate Swap	1		$	34,098			1		$	34,098
	Interest Rate Swap	1		$	34,098			1		$	34,098
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	'
	The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheets as of March 31, 2014 and December 31, 2013:



	(In thousands)	Balance Sheet Location		March 31, 2014				December 31, 2013
	Derivatives designated as hedging instruments:
	Interest Rate Swap	Derivatives, at fair value		$	(143	)		$	(98	)
Derivative Instruments, Gain (Loss)	'
	The table below details the location in the consolidated financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three months ended March 31, 2014. The Company had no active derivatives during the three months ended March 31, 2013:



	(In thousands)	Three Months Ended March 31, 2014
	Amount of gain (loss) recognized in accumulated other comprehensive loss from interest rate derivatives (effective portion)	$	(169	)
	Amount of gain (loss) reclassified from accumulated other comprehensive loss into income as interest expense (effective portion)	$	(124	)
	Amount of loss recognized in income on derivative (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing)	$	—
		$	—
Offsetting Assets	'
	Offsetting Derivatives

	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of March 31, 2014 and December 31, 2013. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the accompanying consolidated balance sheets:



													Gross Amounts Not Offset on the Balance Sheet
	(In thousands)	Gross Amounts of Recognized Liabilities				Gross Amounts Offset on the Balance Sheet				Net Amounts of Liabilities presented on the Balance Sheet			Financial Instruments		Cash Collateral Received (Posted)		Net Amount
	March 31, 2014	$	(143	)		$	—			$	(143	)	$	—	$	—	$	(143	)
	March 31, 2014	$	(143	)		$	—			$	(143	)	$	—	$	—	$	(143	)
	December 31, 2013	$	(98	)		$	—			$	(98	)	$	—	$	—	$	(98	)
	December 31, 2013	$	(98	)		$	—			$	(98	)	$	—	$	—	$	(98	)

Common_Stock_Tables

Common Stock (Tables)	3 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Class of Treasury Stock	'
	The following table summarizes the repurchases of shares under the Company's Share Repurchase Plan ("SRP") cumulatively through March 31, 2014:



		Number of Requests	Number of Shares Repurchased	Weighted-Average Price per Share
	Cumulative repurchases as of December 31, 2013	1	8,674	$	9.98

	Three Months Ended March 31, 2014	—	—	—

	Cumulative repurchases as of March 31, 2014	1	8,674	$	9.98

Related_Party_Transactions_and1

Related Party Transactions and Arrangements (Tables)	3 Months Ended
	Mar. 31, 2014
Related Party Transactions [Abstract]	'
Schedule of Selling Commissions and Dealer Manager Fees Payable to Affiliate	'
	The following table details total selling commissions and dealer manager fees incurred by the Company during the three months ended March 31, 2014 and 2013 and payable to the Dealer Manager as of March 31, 2014 and December 31, 2013:



			Three Months Ended March 31,				Payable as of
	(In thousands)		2014		2013		March 31, 2014		December 31, 2013
	Total commissions and fees from the Dealer Manager		$	12,947	$	497	$	190	$	46

Schedule Of Offering Costs Reimbursements to Related Party	'
	The following table details offering costs and reimbursements incurred during the three months ended March 31, 2014 and 2013 and payable to the Advisor and Dealer Manager as of March 31, 2014 and December 31, 2013:



			Three Months Ended March 31,				Payable as of
	(In thousands)		2014		2013		March 31, 2014		December 31, 2013
	Fees and expense reimbursements from the Advisor and Dealer Manager		$	422	$	511	$	3,196	$	4,609

Schedule of Amount Contractually Due and Forgiven in Connection With Operation Related Services	'
	The following table details amounts incurred and forgiven during the three months ended March 31, 2014 and 2013 and amounts contractually due as of March 31, 2014 and December 31, 2013 in connection with the operations related services described above:



			Three Months Ended March 31,								Payable as of
			2014				2013				March 31,		December 31,
	(In thousands)		Incurred		Forgiven		Incurred		Forgiven		2014		2013
	One-time fees and reimbursements:
	Acquisition fees and related cost reimbursements		$	—	$	—	$	—	$	—	$	—	$	—

	Financing coordination fees		—		—		—		—		—		—

	Other expense reimbursements		—		—		—		—		—		—

	Ongoing fees:
	Asset management fees (1)		—		—		—		18		—		—

	Property management and leasing fees		—		—		—		14		—		—

	Strategic advisory fees		149		—		73		—		—		—

	Total related party operation fees and reimbursements		$	149	$	—	$	73	$	32	$	—	$	—

	_________________________________

	-1	These fees have been waived. Effective October 1, 2013, the Company expects to issue (subject to approval by the board of directors) to the Advisor restricted performance-based Class B Units for asset management services, which will be forfeited immediately if certain conditions occur.

ShareBased_Compensation_Tables

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Schedule of Share-based Compensation, Stock Options, Activity	'
	The following table reflects restricted share award activity for the three months ended March 31, 2014:



		Number of Shares of Restricted Stock			Weighted-Average Issue Price Per Share
	Unvested, December 31, 2013	19,800			$	9.18

	Granted	—			—

	Vested	(1,200	)		10

	Unvested, March 31, 2014	18,600			$	9.13

Schedule of Share-based Compensation, Activity for Services	'
	The following table reflects the shares of common stock issued to directors in lieu of cash compensation:



			Three Months Ended March 31,
			2014				2013
	Shares issued in lieu of cash		500				—

	Value of shares issued in lieu of cash (in thousands)		$	4			$	—

Net_Loss_Per_Share_Tables

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted	'
	The following is a summary of the basic and diluted net loss per share computation for the three months ended March 31, 2014 and 2013:



		Three Months Ended March 31,
		2014				2013
	Net loss (in thousands)	$	(599	)		$	(1,052	)
	Basic and diluted weighted-average shares outstanding	12,997,881				969,506

	Basic and diluted net loss per share	$	(0.05	)		$	(1.09	)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	'
	The following common stock equivalents as of March 31, 2014 and 2013 were excluded from diluted net loss per share computations as their effect would have been antidilutive:


		March 31,
		2014			2013
	Unvested restricted stock	18,600			12,600

	OP Units	202			202

	Class B Units	21,400			—

	Total common stock equivalents	40,202			12,802

Subsequent_Events_Tables

Subsequent Events (Tables)	3 Months Ended
	Mar. 31, 2014
Subsequent Events [Abstract]	'
Schedule of Subsequent Events	'
	Total capital raised to date from the IPO and the DRIP is as follows:



	Source of Capital *(In thousands)*	Inception to			April 1, 2014 to			Total
		31-Mar-14			30-Apr-14
	Common stock	$	208,325		$	47,972		$	256,297

	The following table presents certain information about the properties that the Company acquired from April 1, 2014 to May 7, 2014:



	(Dollar amounts in thousands)	Number of Properties		Base Purchase Price (1)			Rentable Square Feet
	Total portfolio — March 31, 2014	3		$	107,632		546,317

	Acquisitions	1		40,500			167,155

	Total portfolio — May 7, 2014	4		$	148,132		713,472

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

Organization_Details

Organization (Details) (USD $)	41 Months Ended	44 Months Ended
	Dec. 31, 2013	Mar. 31, 2014		Mar. 14, 2014	Mar. 17, 2011
		sqft
		property
Operations [Line Items]	'	'		'	'
Common stock, par value (in dollars per share)	$0.01	$0.01		'	'
Common stock, authorized (in shares)	300,000,000	300,000,000		75,000,000	'
Maximum amount of offering from universal shelf registration statement	'	'		'	$1,700,000,000
Common stock, outstanding (in shares)	7,253,833	21,031,595		'	'
Proceeds from Issuance of stock	71,300,000	208,300,000		'	'
Aggregate value of all issuances and subscriptions of common stock outstanding	'	210,000,000		'	'
Total real estate investments, at cost	'	107,632,000	[1]	'	'
Number of real estate properties	'	3		'	'
Square Feet	'	546,317		'	'
Real estate property, occupancy rate	'	92.40%		'	'
Minimum	'	'		'	'
Operations [Line Items]	'	'		'	'
Total real estate investments, at cost	'	$20,000,000		'	'
Required occupancy rate for acquisition targets	'	80.00%		'	'
Common Stock	'	'		'	'
Operations [Line Items]	'	'		'	'
Shares available for issuance under initial public offering (in shares)	'	'		'	150,000,000
Common stock, par value (in dollars per share)	'	'		0.01	$0.01
Shares issued or available for issuance under initial public offering (in dollars per share)	'	$10		10	$10
Shares available for issuance under a distribution reinvestment plan (in shares)	'	'		12,500,000	25,000,000
Shares issued or available for issuance under a distribution reinvestment plan (in dollars per share)	'	$9.50		'	'
Common Stock \| Minimum	'	'		'	'
Operations [Line Items]	'	'		'	'
Shares issued or available for issuance under a distribution reinvestment plan (in dollars per share)	'	'		'	$9.50
Percent of estimated value of a share of common stock	'	'		'	95.00%
Advisor \| American Realty Capital Retail Advisor, LLC	'	'		'	'
Operations [Line Items]	'	'		'	'
OP units held (in shares)	202	202		'	'

[1]	Contract purchase price, excluding acquisition related costs.

Real_Estate_Investments_Schedu

Real Estate Investments (Schedule of Real Estate Properties) (Details) (USD $)	3 Months Ended		12 Months Ended				44 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Dec. 31, 2013		Dec. 31, 2012		Mar. 31, 2014
	property		property		property		property
Real Estate [Abstract]	'		'		'		'
Number of Properties	0		1		2		3
Base Purchase Price	$0	[1]	$53,450	[1]	$54,182	[1]	$107,632	[1]

[1]	Contract purchase price, excluding acquisition related costs.

Real_Estate_Investments_Schedu1

Real Estate Investments (Schedule of Future Minimum Rental Payments for Operating Leases) (Details) (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2014
Real Estate [Abstract]	'
April 1, 2014 to December 31, 2014	$6,612
2015	8,478
2016	8,128
2017	7,815
2018	6,371
Thereafter	6,861
Total	$44,265

Real_Estate_Investments_Schedu2

Real Estate Investments (Schedule of Annualized Rental Income by Major Tenants) (Details)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Toys R Us - Delaware, Inc.	'	'
Revenue, Major Customer [Line Items]	'	'
Major tenant rental income, as a percentage of total annualized rental income	10.30%	19.80%
The Container Store, Inc.	'	'
Revenue, Major Customer [Line Items]	'	'
Major tenant rental income, as a percentage of total annualized rental income	'	12.00%

Real_Estate_Investments_Schedu3

Real Estate Investments (Schedule of Revenue from External Customers and Long-Lived Assets, by Geographic Areas) (Details)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
MISSOURI	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'
Entity wide revenue, major state, percentage	46.80%	'
TEXAS	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'
Entity wide revenue, major state, percentage	53.20%	100.00%

Mortgage_Notes_Payable_Schedul

Mortgage Notes Payable (Schedule of Mortgage Notes Payable) (Details) (USD $)	Mar. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014		Dec. 31, 2013
Debt Instrument [Line Items]	'		'
Outstanding Loan Amount	$63,083		$63,083
Mortgage notes payable	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	3		'
Outstanding Loan Amount	63,083		63,083
Effective Interest Rate	4.01%	[1]	'
Mortgage notes payable \| Tiffany Springs	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1	[2]	'
Outstanding Loan Amount	34,098	[2]	34,098	[2]
Effective Interest Rate	3.92%	[2]	'
Senior Loans \| Mortgage notes payable \| San Pedro Crossing - Senior Loan	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1	[2]	'
Outstanding Loan Amount	17,985	[2]	17,985	[2]
Effective Interest Rate	3.79%	[2]	'
Refinanced Loan \| Mortgage notes payable \| Liberty Crossing - Refinanced Loan	'		'
Debt Instrument [Line Items]	'		'
Encumbered Properties	1	[2],[3]	'
Outstanding Loan Amount	$11,000	[2],[3]	$11,000	[2],[3]
Effective Interest Rate	4.66%	[2],[3]	'

[1]	Calculated on a weighted-average basis for all mortgages outstanding as of MarchB 31, 2014
[2]	Payments and obligations pursuant to these mortgage agreements are guaranteed by AR Capital, LLC, the entity that wholly owns the Company's Sponsor.
[3]	The Company refinanced the Liberty Crossing property in June 2013.

Mortgage_Notes_Payable_Schedul1

Mortgage Notes Payable (Schedule Of Aggregate Future Principal Payments On Mortgage Notes Payable) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]	'	'
Total	$63,083	$63,083
Mortgage notes payable	'	'
Debt Instrument [Line Items]	'	'
April 1, 2014 to December 31, 2014	0	'
2015	0	'
2016	0	'
2017	0	'
2018	63,083	'
Thereafter	0	'
Total	$63,083	$63,083

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Derivative Liability	($143)	($98)
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets Level 1 \| Interest rate swap	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Derivative Liability	0	0
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs Level 2 \| Interest rate swap	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Derivative Liability	-143	-98
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs Level 3 \| Interest rate swap	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Derivative Liability	0	0
Fair Value, Measurements, Recurring \| Total \| Interest rate swap	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Derivative Liability	($143)	($98)

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments (Fair Value, by Balance Sheet Grouping) (Details) (Significant Unobservable Inputs Level 3, Mortgage notes payable, USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Carrying Amount	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Debt, fair value	$63,083	$63,083
Total	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Debt, fair value	$62,909	$62,824

Derivatives_and_Hedging_Activi2

Derivatives and Hedging Activities (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Derivative [Line Items]	'
Interest rate derivatives, at fair value, including adjustments for nonperformance risk	$0.20
Designated as Hedging Instrument \| Interest Expense \| Cash Flow Hedging \| Interest rate swap	'
Derivative [Line Items]	'
Reclassification estimated of time to transfer	'12 months
Reclassified amount from AOCI to income	0.5
Interest rate swap \| Designated as Hedging Instrument \| Cash Flow Hedging	'
Derivative [Line Items]	'
Assets needed for immediate settlement	$0.20

Derivatives_and_Hedging_Activi3

Derivatives and Hedging Activities - Schedule of Interest Rate Derivatives (Details) (Designated as Hedging Instrument, Cash Flow Hedging, Interest Rate Swap, USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	derivative	derivative
Designated as Hedging Instrument \| Cash Flow Hedging \| Interest Rate Swap	'	'
Derivative [Line Items]	'	'
Number of Instruments	1	1
Notional Amount	$34,098	$34,098

Derivatives_and_Hedging_Activi4

Derivatives and Hedging Activities - Schedule of Derivative Instruments in Statement of Financial Position (Details) (Derivatives, at fair value, Designated as Hedging Instrument, Cash Flow Hedging, Interest Rate Swap, USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Derivatives, at fair value \| Designated as Hedging Instrument \| Cash Flow Hedging \| Interest Rate Swap	'	'
Derivative [Line Items]	'	'
Interest Rate Derivative Liabilities, at Fair Value	($143)	($98)

Derivatives_and_Hedging_Activi5

Derivatives and Hedging Activities - Derivative Instruments, Gain (Loss) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Amount of gain (loss) recognized in accumulated other comprehensive loss from interest rate derivatives (effective portion)	($45)	$0
Interest rate swap \| Cash Flow Hedging	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Amount of gain (loss) recognized in accumulated other comprehensive loss from interest rate derivatives (effective portion)	-169	'
Amount of loss recognized in income on derivative (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing)	0	'
Interest rate swap \| Interest Expense \| Cash Flow Hedging	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Amount of gain (loss) reclassified from accumulated other comprehensive loss into income as interest expense (effective portion)	($124)	'

Derivatives_and_Hedging_Activi6

Derivatives and Hedging Activities - Schedule of Offsetting Liabilities (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'	'
Gross Amounts of Recognized Liabilities	($143)	($98)
Gross Amounts Offset on the Balance Sheet	0	0
Net Amounts of Liabilities presented on the Balance Sheet	143	98
Financial Instruments	0	0
Cash Collateral Received (Posted)	0	0
Net Amount	($143)	($98)

Common_Stock_Details

Common Stock (Details) (USD $)	30 Months Ended	41 Months Ended	44 Months Ended	3 Months Ended	41 Months Ended	44 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
				Approved [Member]	Approved [Member]	Approved [Member]
				request	request	request
Class of Stock [Line Items]	'	'	'	'	'	'
Common stock, shares outstanding (in shares)	21,031,595	7,253,833	21,031,595	'	'	'
Proceeds from Issuance of stock	'	$71.30	$208.30	'	'	'
Dividends declared per day (in dollars per share)	$0.00	'	'	'	'	'
Dividends declared (in dollars per share)	$0.64	'	'	'	'	'
Number of Share Repurchase Requests	'	'	'	0	1	1
Number of Shares Repurchased (in shares)	'	'	'	0	8,674	8,674
Weighted-Average Price per Share (in dollars per share)	'	'	'	$0	$9.98	$9.98

Related_Party_Transactions_and2

Related Party Transactions and Arrangements (Details) (USD $)

44 Months Ended

3 Months Ended

In Millions, except Share data, unless otherwise specified

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Maximum

Total commissions and fees from the Dealer Manager

Strategic advisory fees

Sponsor and Entity Wholly Owned by Sponsor

Advisor

Dealer Manager

American Realty Capital IV, LLC and American Realty Capital Retail Special Limited Partnership, LLC

American Realty Capital Retail Advisor, LLC

Absorbed General and Administrative Expenses

Brokerage Commission Fees

Real Estate Commissions

Annual Targeted Investor Return

Realty Capital Securities, LLC

Contract Purchase Price

Advance on Loan or Other Investment

Amount Available or Outstanding Under Financing Arrangement

Average Invested Assets

Gross Revenue, Stand-alone Single-tenant Net Leased Properties

Gross Revenue, Excluding Stand-alone Single-tenant Net Leased Properties

Gross Revenue, Managed Properties

Hard Costs Of Construction, Renovation and/or Tenant Finish-out

Net Income, Excluding Additions to Non-cash Reserves and Gains on Sales of Assets

Net Sale Proceeds, after Return of Capital Contributions and Annual Targeted Investor Return

Excess of Adjusted Market Value of Real Estate Assets Plus Distributions Over Aggregate Contributed Investor Capita

American Realty Capital Retail Advisor, LLC

Gross Proceeds, Initial Public Offering

Gross Proceeds, Common Stock

Maximum

Contract Sales Price

Pre-tax Non-compounded Return on Capital Contribution

Maximum

Greater Of

Maximum

Related Party Transaction [Line Items]

Operating partnership units held by related party (in shares)

242,222

OP units held (in shares)

202

Commission of gross offering proceeds

7.00%

Sales commissions as a percentage of benchmark

3.00%

Liability for offering and related costs from IPO

1.50%

Aggregate costs borne by related party

$6.50

Cumulative offering cost cap

15.00%

Cumulative offering costs, net of unpaid amounts

28.9

Acquisition fees as a percentage of benchmark

1.00%

Financing advance fees as a percentage of benchmark

0.50%

1.00%

Aggregate acquisition fees and acquisition related expenses as a percentage of benchmark

4.50%

Acquisition and financing coordination fees as a percentage of benchmark

1.50%

Financing coordination fee

1.00%

Asset management fees as a percentage of benchmark

0.75%

Aggregate asset management and oversight fees as a percentage of benchmark

0.75%

Cumulative capital investment return to investors as a percentage of benchmark

7.00%

Quarterly asset management fee

0.19%

Per share value (in dollars per share)

Common stock, authorized (in shares)

21,400

Property management fees as a percentage of benchmark

2.00%

4.00%

Oversight fees as a percentage of benchmark

1.00%

Construction, renovation or tenant finish-out as a percentage of benchmark

6.00%

Amortization period

'19 months

Operating expenses as a percentage of benchmark

2.00%

25.00%

General and administrative costs

$0.30

$0.20

Real estate commissions as a percentage of benchmark

2.00%

6.00%

Subordinated participation fee earned

15.00%

Repayment of capital committed

100.00%

Subordinated incentive listing distribution as a percentage of the benchmark

15.00%

Related_Party_Transactions_and3

Related Party Transactions and Arrangements (Fees Paid in Connection with the IPO) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Total commissions and fees from the Dealer Manager \| Realty Capital Securities, LLC \| Dealer Manager	'	'	'
Related Party Transaction [Line Items]	'	'	'
Fees paid to related parties	$12,947	$497	'
Due to Affiliate	190	'	46
Fees and expense reimbursements from the Advisor and Dealer Manager \| American Realty Capital Retail Advisor, LLC and Realty Capital Securities LLC \| Advisor and Dealer Manager	'	'	'
Related Party Transaction [Line Items]	'	'	'
Fees paid to related parties	422	511	'
Due to Affiliate	$3,196	'	$4,609

Related_Party_Transactions_and4

Related Party Transactions and Arrangements (Schedule of Amount Contractually Due and Forgiven in Connection With Operation Related Services) (Details) (USD $)

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

In Thousands, unless otherwise specified

Acquisition fees and related cost reimbursements

Financing coordination fees

Other expense reimbursements

Asset management fees

Property management and leasing fees

Strategic advisory fees

Total related party operation fees and reimbursements

One-time fees and reimbursements:

Incurred

Forgiven

One-time fees and reimbursements:

Incurred

Forgiven

One-time fees and reimbursements:

Incurred

Forgiven

Ongoing fees:

Incurred

Forgiven

Ongoing fees:

Incurred

Forgiven

Ongoing fees:

Incurred

Forgiven

Incurred

Forgiven

One-time fees and reimbursements:

Ongoing fees:

Related Party Transaction [Line Items]

Related party operation fees and reimbursements

[1]

$18

[1]

$14

$149

$73

$149

$73

$32

Due to Affiliate

[1]

These fees have been waived. Effective October 1, 2013, the Company expects to issue (subject to approval by the board of directors) to the Advisor restricted performance-based Class B Units for asset management services, which will be forfeited immediately if certain conditions occur.

ShareBased_Compensation_Detail

Share-Based Compensation (Details) (USD $)	3 Months Ended		44 Months Ended
Share-Based Compensation (Details) (USD $)	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
Stock Options \| Stock Option Plan	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Options, fixed exercise price (in dollars per share)	$10	'	$10
Number of shares authorized, in shares	500,000	'	500,000
Restricted Stock \| Restricted Share Plan	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Number of shares authorized, in shares	7,500,000	'	7,500,000
Shares granted automatically upon election to board of directors, in shares	3,000	'	3,000
Vesting period	'5 years	'	'
Periodic vesting percentage	20.00%	'	20.00%
Maximum authorized amount as a percentage of shares authorized	'	'	5.00%
Unrecognized compensation cost	$100,000	'	$100,000
Unrecognized compensation cost period	'3 years 6 months 20 days	'	'
Share based compensation	$11,000	$7,000	'
Contract Purchase Price \| Maximum \| Restricted Stock \| Restricted Share Plan	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Fair value of restricted share grants	6.00%	'	6.00%
Disposition Fees \| Maximum \| Restricted Stock \| Restricted Share Plan	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Fair value of restricted share grants	3.00%	'	3.00%
Pre-tax Non-compounded Return on Capital Contribution \| Maximum \| Restricted Stock \| Restricted Share Plan	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Fair value of restricted share grants	6.00%	'	6.00%
Advisor \| Net Sale Proceeds, after Return of Capital Contributions and Annual Targeted Investor Return \| American Realty Capital Retail Advisor, LLC	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Subordinated participation fee earned	15.00%	'	15.00%
Greater Of \| Advisor \| Average Invested Assets \| American Realty Capital Retail Advisor, LLC \| Maximum	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Operating expenses as a percentage of benchmark	2.00%	'	2.00%
Greater Of \| Advisor \| Net Income, Excluding Additions to Non-cash Reserves and Gains on Sales of Assets \| American Realty Capital Retail Advisor, LLC \| Maximum	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Operating expenses as a percentage of benchmark	25.00%	'	25.00%

ShareBased_Compensation_Restri

Share-Based Compensation (Restricted Stock Activity) (Details) (Restricted Stock, USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
	Mar. 31, 2014	Restricted Share Plan	Restricted Share Plan
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Intrinsic Value [Roll Forward]	'	'	'
Beginning Balance (in shares)	'	18,600	19,800
Granted (in shares)	0	'	'
Vested (in shares)	-1,200	'	'
Ending Balance (in shares)	'	18,600	19,800
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]	'	'	'
Beginning Balance (in dollars per share)	$9.18	'	'
Granted (in dollars per share)	$0	'	'
Vested (in dollars per share)	$10	'	'
Ending Balance (in dollars per share)	$9.13	'	'

ShareBased_Compensation_Other_

Share-Based Compensation (Other Share Based Compensation) (Details) (Common Stock, USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Common Stock	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Shares issued in lieu of cash (in shares)	500	0
Value of shares issued in lieu of cash (in thousands)	$4	$0

Net_Loss_Per_Share_Details

Net Loss Per Share (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]	'	'
Net loss attributable to stockholders	($599)	($1,052)
Weighted average common shares outstanding (in shares)	12,997,881	969,506
Net loss per share attributable to stockholders, basic and diluted (in dollars per share)	($0.05)	($1.09)
Antidilutive securities excluded from computation of earnings per share (in shares)	40,202	12,802
Unvested restricted stock	'	'
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share (in shares)	18,600	12,600
OP Units	'	'
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share (in shares)	202	202
Class B Units	'	'
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share (in shares)	21,400	0

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	3 Months Ended			45 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Apr. 30, 2014	Mar. 31, 2014	Mar. 14, 2014	Mar. 17, 2011	Apr. 30, 2014
				Subsequent Event	Common Stock	Common Stock	Common Stock	Common Stock
								Subsequent Event
Subsequent Event [Line Items]	'	'	'	'	'	'	'	'
Common stock, shares outstanding (in shares)	21,031,595	'	7,253,833	25,859,343	'	'	'	'
Proceeds from issuances of common stock	$134,885,000	$4,694,000	'	$256,300,000	'	'	'	'
Aggregate value of all issuances and subscriptions of common stock outstanding	$210,000,000	'	'	$258,300,000	'	'	'	'
Per share value (in dollars per share)	'	'	'	'	$10	$10	$10	$10
Shares issued or available for issuance under a distribution reinvestment plan (in dollars per share)	'	'	'	'	$9.50	'	'	$9.50

Subsequent_Events_Schedule_of_

Subsequent Events (Schedule of Subsequent Events) (Details) (USD $)	3 Months Ended	1 Months Ended	44 Months Ended	45 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Apr. 30, 2014	Mar. 31, 2014	Apr. 30, 2014
	Common Stock	Common Stock	Common Stock	Common Stock
		Subsequent Event		Subsequent Event
Subsequent Event [Line Items]	'	'	'	'
Issuances of common stock	$137	$47,972	$208,325	$256,297

Subsequent_Events_Acquisition_

Subsequent Events (Acquisition) (Details) (USD $)	Mar. 31, 2014		7-May-14
In Thousands, unless otherwise specified	sqft		Subsequent Event
	property		property
			sqft
Property Acquisition [Roll Forward]	'		'
Beginning Balance Number of Properties	3		'
Beginning Balance Base Purchase Price	$107,632	[1]	$148,132	[1]
Beginning Balance Rentable Square Feet	546,317		'
Number of Businesses Acquired	'		1
Real Estate Investment Property, at Cost, Acquisitions	'		40,500	[1]
Area of Real Estate Property, Acquisitions	'		167,155
Ending Balance Number of Properties	3		4
Ending Balance Base Purchase Price	$107,632	[1]	'
Ending Balance Rentable Square Feet	546,317		713,472

[1]	Contract purchase price, excluding acquisition related costs.