VEREIT (VER) 10-Q/A13 Mar 152014 Q1 Quarterly report (amended)Financial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2014	7-May-14
Document And Entity Information [Abstract]
Document Type	10-Q/A
Amendment Flag	TRUE
Amendment Description	This Amendment No. 2 on Form 10-Q/A (this â€œAmendment No. 2â€) amends our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2014 that was filed with the U.S. Securities and Exchange Commission (â€œSECâ€) on May 8, 2014 and amended by Amendment No. 1 thereto on Form 10-Q/A filed with the SEC on March 2, 2015 (the â€œAmended Filingâ€). We are filing this Amendment No. 2 to update Part II, Item 6 and provide Exhibit 101 to the Amended Filing. Except as set forth in Part II, Item 6 below and in any exhibits attached hereto, no other changes are made to the Amended Filing. The Amended Filing continues to speak as of the date of the Amended Filing. Unless expressly stated, this Amendment No. 2 does not reflect events occurring after the filing date of the Amended Filing, nor does it modify or update in any way the disclosures contained in the Amended Filing.
Document Period End Date	31-Mar-14
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q1
Trading Symbol	ARCP
Entity Registrant Name	AMERICAN REALTY CAPITAL PROPERTIES, INC.
Entity Central Index Key	1507385
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		769,995,602

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2014		Dec. 31, 2013		Mar. 31, 2013		Dec. 31, 2012
In Thousands, unless otherwise specified	Mar. 31, 2014		Dec. 31, 2013		Mar. 31, 2013		Dec. 31, 2012
Real estate investments, at cost:
Land	$3,224,257	[1]	$1,380,308	[1]	$337,606
Buildings, fixtures and improvements	11,836,655	[1]	5,297,400	[1]	1,683,373
Land and construction in progress	40,459	[1]	21,839	[1]	0
Acquired intangible lease assets	2,209,902	[1]	759,595	[1]	266,723
Total real estate investments, at cost	17,311,273	[1]	7,459,142	[1]	2,287,702
Less: accumulated depreciation and amortization	-428,566	[1]	-267,278	[1]	-83,282
Total real estate investments, net	16,882,707	[1]	7,191,864	[1]	2,204,420
Investment in unconsolidated entities	105,775	[1]	0
Investment in direct financing leases, net	65,723	[1]	66,112	[1]
Investment securities, at fair value	213,803	[1]	62,067	[1]	61,604
Loans held for investment, net	98,185	[1]	26,279	[1]
Cash and cash equivalents	83,216	[1]	52,725	[1]	1,119,507	[1]	292,575	[1]
Restricted cash	55,559	[1]	35,921	[1]	1,287
Intangible assets, net	371,634	[1]	0
Deferred costs and other assets, net	304,097	[1]	281,326	[1]	228,622
Goodwill	2,298,677	[1]	92,789	[1]
Due from affiliates	8,719	[1]	0
Total assets	20,488,095	[1]	7,809,083	[1]	3,615,440
LIABILITIES AND EQUITY
Mortgage notes payable, net	4,234,074	[1]	1,301,114	[1]	265,118
Corporate bonds, net	2,545,884	[1]	0
Convertible debt, net	973,737	[1]	972,490	[1]
Credit facilities	2,415,800	[1]	1,969,800	[1]	640,000
Other debt, net	148,809	[1]	104,804	[1]
Below-market lease liabilities, net	286,579	[1]	77,169	[1]
Accounts payable and accrued expenses	149,542	[1]	730,571	[1]	647,061
Deferred rent, derivative and other liabilities	206,105	[1]	40,271	[1]	5,556
Distributions payable	11,233	[1]	10,903	[1]	6,773
Due to affiliates	2,614	[1]	103,434	[1]	1,569
Total liabilities	10,974,377	[1]	5,310,556	[1]	1,571,089
Common stock, $0.01 par value, 1,500,000,000 and 750,000,000 shares authorized and 769,931,938 and 239,234,725 issued and outstanding at March 31, 2014 and December 31, 2013, respectively	7,699	[1]	2,392	[1]	1,904
Additional paid-in capital	10,302,168	[1]	2,940,907	[1]	2,236,339
Accumulated other comprehensive income	8,463	[1]	7,666	[1]	-4,683
Accumulated deficit	-1,358,743	[1]	-877,957	[1]	-311,906
Total stockholders' equity	8,960,014	[1]	2,073,430	[1]	1,922,074
Non-controlling interests	284,405	[1]	155,798	[1]	122,277
Total equity	9,244,419	[1]	2,229,228	[1]	2,044,351
Total liabilities and equity	20,488,095	[1]	7,809,083	[1]	3,615,440
Series D preferred stock [Member]
LIABILITIES AND EQUITY
Preferred stock	269,299	[1]	269,299	[1]
Convertible Preferred Stock [Member]
LIABILITIES AND EQUITY
Preferred stock	$427	[1]	$422	[1]	$420

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2014		Dec. 31, 2013		Sep. 15, 2013	Mar. 31, 2013
Common stock, par value	$0.01	[1]	$0.01	[1]	$0.01	$0.01
Common stock, shares authorized	1,500,000,000	[1]	750,000,000	[1]		240,000,000
Common stock, issued	769,931,938	[1]	239,234,725	[1]		154,322,183
Common stock, outstanding	769,931,938	[1]	239,234,725	[1]		154,322,183
Series D preferred stock [Member]
Convertible preferred stock, par value	$0.01	[1]	$0.01	[1]	$0.01
Convertible preferred stock, shares authorized	21,735,008	[1]	21,735,008	[1]
Convertible preferred stock, issued	21,735,008	[1]	21,735,008	[1]
Convertible preferred stock, outstanding	21,735,008	[1]	21,735,008	[1]
Convertible Preferred Stock [Member]
Convertible preferred stock, par value	$0.01	[1]	$0.01	[1]		$0.01
Convertible preferred stock, shares authorized	100,000,000	[1]	100,000,000	[1]		100,000,000
Convertible preferred stock, issued	42,654,919	[1]	42,199,547	[1]		35,863,711
Convertible preferred stock, outstanding	42,654,919	[1]	42,199,547	[1]		35,863,711

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Revenues:
Rental income	$244,415	[1]	$40,987	[1]
Direct financing lease income	1,006	[1]	0	[1]
Operating expense reimbursements	21,476	[1]	1,910	[1]
Cole Capital revenue	54,257	[1]	0	[1]
Total revenues	321,154	[1]	42,897	[1]
Operating expenses:
Cole Capital reallowed fees and commissions	34,436	[1]	0	[1]
Acquisition related (including $1,539 and $6,936 to affiliates, respectively)	13,417	[1]	10,327	[1]
Merger and other non-routine transactions (including $137,738 and $106,680, respectively, to affiliates)	160,298	[1],[2]	123,568	[1],[2]
Property operating	29,755	[1]	2,549	[1]
Management fees to affiliates	13,888	[1],[3]	12,493	[1],[3]
General and administrative (including $15,592 and $5,209, respectively, to affiliates)	56,492	[1]	7,772	[1]
Depreciation and amortization	173,842	[1]	26,753	[1]
Total operating expenses	482,128	[1]	183,462	[1]
Operating loss	-160,974	[1]	-140,565	[1]
Other (expense) income:
Interest expense, net	-120,951	[1]	-6,801	[1]
Extinguishment of debt, net	-9,399	[1],[4]	0	[1],[4]
Other income, net	10,210	[1]	999	[1]
Loss on derivative instruments, net	-7,121	[1]	-5	[1]
Loss on disposition of properties, net	-17,605	[1],[5]	0	[1],[5]
Gain on sale of investments	0	[1]	451	[1]
Total other expenses, net	-144,866	[1]	-5,356	[1]
Loss from continuing operations	-305,840	[1]	-145,921	[1]
Discontinued operations:
Loss from operations of held for sale properties	0	[1]	-16	[1]
Net loss from discontinued operations	0	[1]	-16	[1]
Net loss	-305,840	[1]	-145,937	[1]
Net loss attributable to non-controlling interest	14,396	[1]	2,057	[1]
Net loss attributable to the Company	($291,444)	[1]	($143,880)	[1]
Basic and diluted net loss per share attributable to common stockholders	($0.58)	[1]	($0.86)	[1]

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	This line item caption has been updated to merger and other non-routine transactions in the accompanying consolidated statements of operations.
[3]	This line item caption has been updated to management fees to affiliates in the accompanying consolidated statements of operations.
[4]	This line item caption has been added and is included in the accompanying consolidated statements of operations for the period ended March 31, 2014.
[5]	This line item caption has been updated to loss on disposition of properties, net in the accompanying consolidated statements of operations.

CONSOLIDATED_STATEMENTS_OF_OPE1

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Income Statement [Abstract]
Affiliate acquisition related	$1,539	[1]	$6,936	[1]
Affiliate merger and other one-time transactions	137,738	[1]	106,680	[1]
Affiliates general and administrative	$15,592	[1]	$5,209	[1]

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Statement of Comprehensive Income [Abstract]
Net loss	($305,840)	[1]	($145,937)	[1]
Other comprehensive income (loss):
Designated derivatives, fair value adjustments	-2,298	[1]	-1,177	[1]
Unrealized gain on investment securities, net	3,095	[1]	428	[1]
Total other comprehensive income (loss)	797	[1]	-749	[1]
Total comprehensive loss	-305,043	[1]	-146,686	[1]
Comprehensive income (loss) attributable to non-controlling interests	14,396	[1]	2,057	[1]
Total comprehensive loss attributable to the Company	($290,647)	[1],[2]	($144,629)	[1],[2]

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	This line item caption has been added and is included in the accompanying statement of comprehensive loss for the period ended March 31, 2014.

CONSOLIDATED_STATEMENT_OF_CHAN

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (USD $)		Total	Preferred Stock [Member]		Preferred Stock [Member]	Common Stock [Member]		Common Stock [Member]	Additional Paid-in Capital [Member]		Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]		Accumulated Deficit [Member]		Accumulated Deficit [Member]		Accumulated Deficit [Member]		Parent [Member]		Parent [Member]	Parent [Member]		Parent [Member]		Non-Controlling Interests [Member]		Non-Controlling Interests [Member]	Non-Controlling Interests [Member]	Total Equity [Member]		Total Equity [Member]		Total Equity [Member]
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (USD $)		Total	Preferred Stock [Member]		Convertible Preferred Stock [Member]	Common Stock [Member]		Op Units [Member]	Additional Paid-in Capital [Member]		Op Units [Member]	Convertible Preferred Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]		Accumulated Deficit [Member]		Convertible Preferred Stock [Member]		Less: Dividends attributable to participating securities		Parent [Member]		Op Units [Member]	Convertible Preferred Stock [Member]		Less: Dividends attributable to participating securities		Non-Controlling Interests [Member]		Op Units [Member]	Convertible Preferred Stock [Member]	Total Equity [Member]		Convertible Preferred Stock [Member]		Less: Dividends attributable to participating securities
Value, outstanding, beginning balance at Dec. 31, 2012	[1]		$70,000			$1,846,000			$1,778,883,000				($3,934,000)		($124,286,000)						$1,652,579,000							$16,181,000				$1,668,760,000
Shares, outstanding, beginning balance at Dec. 31, 2012	[1]		6,990,328			184,553,676
Increase (Decrease) in Stockholders' Equity
Issuances of stock (shares)	[1]				35,035,239	32,689,878
Issuances of stock	[1]				350,000	327,000			1,481,603,000												1,481,930,000			350,000								1,481,930,000		350,000
Excess of ARCT IV Merger considerations over historical cost	[1]								-531,172,000												-531,172,000											-531,172,000
Offering costs	[1],[2]								-152,937,000												-152,937,000											-152,937,000
Common stock issued through dividend reinvestment plan, shares	[1]					545,867
Common stock issued through dividend reinvestment plan	[1]					5,000			7,492,000												7,497,000											7,497,000
Common stock repurchases (in shares)	[1]					-27,697,412
Common stock repurchases	[1]					-277,000			-350,245,000												-350,522,000											-350,522,000
Equity based compensation (in shares	[1]					331,692
Distribution to preferred share holders and participating securities		-193,000
Equity based compensation	[1]					3,000			2,715,000												2,718,000							615,000				3,333,000
Distributions declared	[1]														-43,740,000						-43,740,000											-43,740,000
Issuance of OP Units	[1]																											107,771,000				107,771,000
Contributions from non-controlling interest holders	[1]																											750,000				750,000
Distributions to non-controlling interest holders	[1]																											-983,000				-983,000
Net loss	[1]	-145,937,000													-143,880,000						-143,880,000							-2,057,000				-145,937,000
Other comprehensive income	[1]												-749,000								-749,000											-749,000
Value, outstanding, beginning balance (As Restated) at Mar. 31, 2013		2,044,351,000	420,000	[1]		1,904,000	[1]		2,236,339,000	[1]			-4,683,000	[1]	-311,906,000	[1]					1,922,074,000	[1]						122,277,000	[1]			2,044,351,000	[1]
Shares, outstanding, beginning balance (As Restated) at Mar. 31, 2013	[1]		42,025,567			190,423,701
Value, outstanding, beginning balance at Dec. 31, 2013	[1]	2,229,228,000	422,000			2,392,000			2,940,907,000				7,666,000		-877,957,000						2,073,430,000							155,798,000				2,229,228,000
Shares, outstanding, beginning balance at Dec. 31, 2013	[1]		42,199,547			239,234,725
Increase (Decrease) in Stockholders' Equity
Issuances of stock (shares)	[1]					524,305,318
Issuances of stock	[1]					5,243,000			7,324,217,000												7,329,460,000											7,329,460,000
Offering costs	[1],[3]								-1,485,000												-1,485,000											-1,485,000
Conversion of Common OP Units to common stock, shares	[1]							951,708
Conversion of Common OP Units to common stock	[1]							10,000			13,444,000												13,454,000							-13,454,000
Conversion of Preferred OP Units to Series F Preferred Stock, shares	[1]				455,372
Conversion of Preferred OP Units to Series F Preferred Stock	[1]				5,000							9,404,000												9,409,000							-9,409,000
Distribution to preferred share holders and participating securities		-23,432,000															-22,427,000	[1]	-1,005,000	[1]				-22,427,000	[1]	-1,005,000	[1]							-22,427,000	[1]	-1,005,000	[1]
Equity based compensation	[1]								17,456,000												17,456,000							4,118,000				21,574,000
Distributions declared	[1]														-165,910,000						-165,910,000											-165,910,000
Issuance of OP Units	[1]																											152,484,000				152,484,000
Contributions from non-controlling interest holders	[1]																											279,000				279,000
Distributions to non-controlling interest holders	[1]																											-15,781,000				-15,781,000
Non-controlling interests retained in Cole Merger	[1]																											24,766,000				24,766,000
Net loss	[1]	-305,840,000													-291,444,000						-291,444,000							-14,396,000				-305,840,000
Other comprehensive income	[1]												797,000								797,000											797,000
Issuance of RSUs, net, shares	[1]					5,440,187
Issuance of RSUs, net	[1]					54,000			-1,775,000												-1,721,000											-1,721,000
Value, outstanding, beginning balance (As Restated) at Mar. 31, 2014	[1]	$9,244,419,000	$427,000			$7,699,000			$10,302,168,000				$8,463,000		($1,358,743,000)						$8,960,014,000							$284,405,000				$9,244,419,000
Shares, outstanding, beginning balance (As Restated) at Mar. 31, 2014	[1]		42,654,919			769,931,938

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	Includes $136.0 million to affiliates of the Former Manager (as defined in Note 1) for the three months ended March 31, 2013.
[3]	Includes $150,000 to affiliates of the Former Manager (as defined in Note 1) for the three months ended March 31, 2014.

CONSOLIDATED_STATEMENT_OF_CHAN1

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Parenthetical) (Affiliated Entity [Member], USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Affiliated Entity [Member]
Offering costs	$150,000	$136,000,000

CONSOLIDATED_STATEMENT_OF_CASH

CONSOLIDATED STATEMENT 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	($305,840)	[1]	($145,937)	[1]
Adjustments to reconcile net loss to net cash used in operating activities:
Issuance of OP Units	92,884	[1]	107,771	[1]
Depreciation and amortization	214,040	[1],[2]	28,642	[1]
Loss on disposition of properties	17,605	[1]	0	[1]
Equity-based compensation	21,574	[1]	3,333	[1]
Equity in income of unconsolidated entities	-251	[1]	0	[1]
Distributions from unconsolidated entities	941	[1],[3]	0	[1],[3]
Loss on derivative instruments	7,121	[1]	5	[1]
Gain on sale of investments, net	0	[1]	-451	[1]
Loss on extinguishment of debt	-19,628	[1]	0	[1]
Changes in assets and liabilities:
Investment in direct financing leases	389	[1]	0	[1]
Deferred costs and other assets	7,945	[1]	-4,710	[1]
Due from affiliates	-8,318	[1]	0	[1]
Accounts payable and accrued expenses	-73,395	[1]	-2,444	[1]
Deferred rent and other liabilities	-36,631	[1]	1,024	[1]
Due to affiliates	-41,264	[1]	1,569	[1]
Net cash used in operating activities	-122,828	[1]	-11,198	[1]
Cash flows from investing activities:
Investments in real estate and other assets	-634,541	[1]	-411,587	[1]
Acquisition of a real estate business, net of cash acquired	-683,240	[1]	0	[1]
Capital expenditures	-3,112	[1]	0	[1]
Real estate developments	-13,044	[1],[3]	0	[1],[3]
Principal repayments received from borrowers	3,062	[1]	0	[1]
Investments in unconsolidated entities	-2,500	[1]	0	[1]
Proceeds from disposition of properties	60,785	[1]	0	[1]
Investment in intangible assets	-258	[1]	0	[1]
Deposits for real estate investments	-38,213	[1]	-7,769	[1]
Uses and refunds of deposits for real estate investments	137,688	[1]	0	[1]
Purchases of investment securities	0	[1]	-63,269	[1]
Line of credit advances to affiliates	-1,000	[1]	0	[1]
Line of credit repayments from affiliates	3,900	[1]	0	[1]
Proceeds from sale of investment securities	0	[1]	44,198	[1]
Change in restricted cash	-3,934	[1]	0	[1]
Net cash used in investing activities	-1,174,407	[1]	-438,427	[1]
Cash flows from financing activities:
Proceeds from mortgage notes payable	669,336	[1]	0	[1]
Payments on mortgage notes payable	-739,680	[1]	0	[1]
Payments on other debt	-4,938	[1]	0	[1]
Proceeds from credit facilities	2,131,000	[1]	675,000	[1]
Payments on credit facilities	-2,994,000	[1]	-159,604	[1]
Proceeds from corporate bonds	2,545,760	[1]	0	[1]
Payments of deferred financing costs	-66,834	[1]	-25,543	[1]
Common stock repurchases	0	[1]	-350,522	[1]
Proceeds from issuances of common stock	0	[1]	1,317,389	[1]
Payments of offering costs and fees related to stock issuances	-2,133	[1]	-138,651	[1]
Contributions from non-controlling interest holders	279	[1]	750	[1]
Distributions to non-controlling interest holders	-9,488	[1]	-921	[1]
Distributions paid	-201,576	[1]	-40,636	[1]
Payments to affiliates, net	0	[1]	-526	[1]
Change in restricted cash	0	[1]	-179	[1]
Net cash provided by financing activities	1,327,726	[1]	1,276,557	[1]
Net change in cash and cash equivalents	30,491	[1]	826,932	[1]
Cash and cash equivalents, beginning of period	52,725	[1]	292,575	[1]
Cash and cash equivalents, end of period	83,216	[1]	1,119,507	[1]
Supplemental Disclosures:
Cash paid for interest	52,332	[1]	1,363	[1]
Cash paid for income taxes	7,616	[1]	222	[1]
Non-cash investing and financing activities:
Common stock issued through distribution reinvestment plan	$0	[1]	$7,498	[1]

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	These five depreciation and amortization line item captions have been consolidated into one line item caption named depreciation and amortization in the accompanying consolidated statements of cash flows.
[3]	This line item caption has been added and is included in the accompanying consolidated statements of cash flows for the period ended March 31, 2014.

Organization

Organization	3 Months Ended
Organization	Mar. 31, 2014
Accounting Policies [Abstract]
Organization	Note 1 — Organization
	American Realty Capital Properties, Inc. (the “Company” or “ARCP”) is a self-managed Maryland corporation incorporated on December 2, 2010 that qualified as a real estate investment trust (“REIT”) for U.S. federal income tax purposes beginning in the taxable year ended December 31, 2011. On September 6, 2011, the Company completed its initial public offering (the “IPO”). The Company’s common stock trades on the NASDAQ Global Select Market (“NASDAQ”) under the symbol “ARCP”.
	The Company operates through two business segments, Real Estate Investment (“REI”) and its private capital management business, Cole Capital (“Cole Capital”), as further discussed in Note 6 — Segment Reporting (As Restated). Substantially all of the Company’s REI segment is conducted through ARC Properties Operating Partnership, L.P., a Delaware limited partnership (the “OP”). The Company is the sole general partner and holder of 96.9% of the equity interests in the OP as of March 31, 2014. As of March 31, 2014, certain affiliates of the Company and certain unaffiliated investors are limited partners and owners of 2.5% and 0.6%, respectively, of the equity interests in the OP. Under the LPA, after holding units of limited partner interests in the OP (“OP Units”) for a period of one year, unless otherwise consented to by the Company, holders of OP Units have the right to redeem the 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. The remaining rights of the holders of OP Units 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. Substantially all of the Cole Capital segment is conducted through Cole Capital Advisors, Inc. (“CCA”), an Arizona corporation. CCA is treated as a taxable REIT subsidiary (“TRS”) under Section 856 of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”).
	Prior to January 8, 2014, ARC Properties Advisors, LLC (the Company’s “Former Manager”), a wholly owned subsidiary of AR Capital, LLC (“ARC”), managed the Company’s affairs on a day-to-day basis, with the exception of certain acquisition, accounting and portfolio management services performed by employees of the Company. In August 2013, the Company’s board of directors determined that it was in the best interests of the Company and its stockholders to become self-managed, and the Company completed its transition to self-management on January 8, 2014. In connection with becoming self-managed, the Company terminated the management agreement with its Former Manager. See Note 20 — Related Party Transactions and Arrangements (As Restated) for further discussion.
	The Company has advanced its investment objectives by not only growing its net lease portfolio through organic acquisitions but also through strategic mergers and acquisitions. See Note 3 — Mergers and Acquisitions (As Restated) for further discussion.

Restatement_of_Previously_Issu

Restatement of Previously Issued Financial Statements	3 Months Ended
Restatement of Previously Issued Financial Statements	Mar. 31, 2014
Accounting Changes and Error Corrections [Abstract]
Restatement of Previously Issued Financial Statements	Note 2 — Restatement of Previously Issued Financial Statements
	The Company has restated its consolidated balance sheets as of March 31, 2014 and December 31, 2013 and its consolidated statements of operations, consolidated statements of comprehensive loss, consolidated statements of changes in equity and consolidated statements of cash flows for the three months ended March 31, 2014 and 2013, along with certain related notes to such restated consolidated financial statements. In addition, the December 31, 2013 and March 31, 2013 balance sheets, as disclosed in Note 3 —Mergers and Acquisitions (As Restated), have been recast in applying the carryover basis of accounting to include the effects of the merger with American Realty Capital Trust IV, Inc. (“ARCT IV”).
	The Company determined that the restatement was necessary after an investigation was conducted by the Audit Committee of the Company’s Board of Directors (the “Audit Committee”) with the assistance of independent counsel and forensic accountants. The Audit Committee initiated the investigation in response to concerns regarding accounting practices and other matters that were first reported to it on September 7, 2014. The restatement corrects errors that were identified as a result of the investigation, as well as certain other errors that were identified by the Company. In addition, the restatement reflects corrections of certain immaterial errors and certain previously identified errors that were identified by the Company in the normal course of business and were determined to be immaterial, both individually and in the aggregate, when the consolidated financial statements for the three months ended March 31, 2014 were originally issued. In connection with the restatement, the Company has determined that it would be appropriate to correct such errors.

	Year ended December 31, 2013 Error Corrections
	Corrections to the Company’s consolidated financial statements for the year ended December 31, 2013 are disclosed within Amendment No. 2 to the Company’s Annual Report on Form 10-K/A for the year ended December 31, 2013 filed with the SEC (the “Amended 10-K”). The corrections reported in the Amended 10-K relate primarily to bonus accruals, real estate impairments, goodwill, merger and acquisition related expenses, transfer tax accrual and the accounting and reporting of non-controlling interests.
	Three Months Ended March 31, 2013 Error Corrections
	Merger and Other Non-routine Transaction Related
	In light of the findings of the investigation conducted by the Audit Committee, the Company performed an internal review of all acquisition, merger and other non-routine transaction-related expenses. The work resulted in the identification of the following errors:

		•		The Company improperly classified $5.4 million of expenses as “merger-related” for the three months ended March 31, 2013. As restated, the amount has been reclassified from merger and other non-routine transaction-related expenses to general and administrative expenses.

		•		Upon consummation of the ARCT III Merger, the OP entered into an agreement with an affiliate to acquire certain furniture, fixtures, equipment (“FF&E”) and other assets. The Company originally capitalized $4.1 million of FF&E costs and expensed $1.7 million of costs. The Company has concluded that there was no evidence of the receipt and it could not support the value of the FF&E. As such, the Company has expensed the amount originally capitalized and recognized the expense in merger and other non-routine transaction-related expense for the period ended March 31, 2013. See Note 20 — Related Party Transactions and Arrangements (As Restated) for further discussion.

		•		The Company identified $1.0 million of expenses that were improperly classified as merger and other non-routine transaction-related expenses that should have been capitalized as deferred financing costs and amortized accordingly. As such, an adjustment to properly record the deferred financing costs has been made for the period ended March 31, 2013. As a result of capitalizing these deferred financing costs, additional interest expense of $0.6 million was recorded for the period ended March 31, 2013.

		•		The Company identified $13.0 million of management fees that were improperly classified as merger and other non-routine transaction-related expenses. Such amount has been properly classified as management fees to affiliates for the period ended March 31, 2013.

		•		The Company has determined that it should have recorded a controlling interest transfer tax liability totaling $1.1 million upon consummation of the ARCT III Merger. The accrual and corresponding merger and other non-routine transaction related expense are recorded for the three months ended March 31, 2013.
	The Company has updated the caption to “merger and other non-routine transactions” to appropriately include non-recurring costs that may not have been incurred solely for a merger transaction. See Note 4 —Summary of Significant Accounting Policies (As Restated) for a further breakout of the merger and other non-routine transactions.
	In addition, the Company has concluded that $881,000 in equity-based compensation previously reported on a separate line item should instead be reported within general and administrative expenses.
	Operating Fees to Affiliate
	The Company identified $0.5 million of expense that was incorrectly recorded as operating fees to affiliate. As a result, the Company decreased operating fees to affiliate by this amount for the period ended March 31, 2013 and recorded the amount to the proper balance sheet account.
	This line item caption has been updated to “management fees to affiliates” in the accompanying consolidated statements of operations.

	Net Loss Attributable to Non-Controlling Interests
	The original calculation of the net loss attributable to non-controlling interest holders for the three months ended March 31, 2013 excluded expenses that were improperly recorded at the Company’s level. These expenses were incurred by the OP, and therefore should have been included in the Company’s determination of the net loss attributable to its non-controlling interest holders. In addition, the net loss attributable to the non-controlling interest holders has been adjusted to reflect the impact of the cumulative restatement adjustments discussed and presented herein. As a result, the Company recorded an adjustment of $1.6 million for the three months ended March 31, 2013 for net loss attributable to non-controlling interest holders and a corresponding change in net loss attributable to stockholders.
	Three Months Ended March 31, 2014 Error Corrections
	Merger and Other Non-routine Transaction Related
	In light of the findings of the investigation conducted by the Audit Committee, the Company performed an internal review of all acquisition, merger and other non-routine transaction-related expenses. The work resulted in the identification of the following errors:

		•		The Company identified a net amount of $16.1 million of merger and other non-routine transaction-related expenses that were improperly recorded in the period ended March 31, 2014. Of this amount, a net amount of $14.5 million has been properly recorded for the year ended December 31, 2013 and a net amount of $1.6 million has been properly recorded in the period ended June 30, 2014.

		•		Upon consummation of the ARCT IV Merger (as defined in Note 3 — Mergers and Acquisitions (As Restated)), the OP entered into an agreement with an affiliate to acquire certain furniture, fixtures, equipment (“FF&E”) and other assets. The Company originally capitalized $2.1 million of FF&E costs. The Company has concluded that there was no evidence of the receipt and it could not support the value of the FF&E. As such, the Company has expensed the amount originally capitalized and recognized the expense in merger and other non-routine transaction-related expense. See Note 20 — Related Party Transactions and Arrangements (As Restated) for further discussion.

		•		The Company identified $20.6 million of expenses that were improperly recorded as merger and other non-routine transaction-related expenses that should have been capitalized as deferred financing costs and amortized accordingly. As such, an adjustment to capitalize and amortize the deferred financing costs has been properly recorded. As a result of deferred financing costs being capitalized, additional interest expense of $8.7 million and extinguishment of debt expense of $2.3 million was recorded.

		•		The Company originally improperly classified $9.4 million of expenses as merger related. However the Company has determined that such amounts should have been accounted for as general and administrative expenses. As such, the Company properly recorded such amount as general and administrative expense.

		•		Upon consummation of the ARCT III Merger and CapLease Merger (each, as defined in Note 3 – Merger and Acquisitions (As Restated)) in 2013, the Company did not properly accrue a controlling interest transfer tax liability for each respective merger. As such, the Company properly recorded an estimated $8.9 million as of December 31, 2013. The Company considered its existing accrual amount for such liabilities, in determining the liability amounts for the ARCT IV and Cole mergers that were consummated, noting that it had over accrued for such liabilities, and as a result recorded too much expense. Therefore, the Company properly reduced the expense recorded in the period by $4.0 million.

		•		The Company identified $13.9 million of management fee expenses that were improperly classified as merger and other non-routine transaction related expenses. Such amounts have been properly recorded as management fees to affiliates.
	The Company also updated the caption from “merger and other transaction related” to “merger and other non-routine transactions” to appropriately include non-recurring costs that may not have been incurred solely for a merger transaction. See Note 4 - Summary of Significant Accounting Policies (As Restated) for a further breakout of the merger costs and other non-routine transactions.

	Acquisition-Related
	The Company identified a net amount of $0.9 million of acquisition-related salary expense had been improperly recorded as general and administrative expense. As such, the Company properly recorded the amount as acquisition-related for the three months ended March 31, 2014.
	General and Administrative
	The Company identified a net amount of $1.7 million of general and administrative expenses that were recorded in the incorrect period. As such, the Company recorded this amount as additional expense in the three months ended March 31, 2014.
	Equity-Based Compensation
	The investigation found that equity awards made to Nicholas S. Schorsch and Brian S. Block in connection with the Company’s transition from external to internal management contained vesting provisions that, as drafted, were more favorable to them than the Compensation Committee had authorized. In addition, the investigation found that the Compensation Committee’s intention in respect of the OPP was that the maximum award pool opportunity should have been based upon the Company’s equity market capitalization as of the date of the approval of the OPP in October 2013, equaling approximately $120.0 million, rather than the $218.1 million which was derived from a pro forma equity market capitalization giving effect to the closing of various transactions as of the Company’s transition to self-management. These items resulted in a decrease of $6.3 million to stock-based compensation reported in general and administrative expense for the three months ended March 31, 2014.
	In addition, the Company assessed its accrual for distributions recorded on LTIP units, noting distributions had not been properly recorded. As a result, the Company increased the distributions recorded in equity and the distributions payable on LTIP awards by $6.2 million for the three months ended March 31, 2014.
	The Company also determined that the documentation of awards granted to its directors provided for accelerated vesting of shares upon voluntary resignation of the directors. As a result, the Company determined there was no required service period for the vesting of such awards and $3.3 million has been recorded as a general and administrative expense during the three months ended March 31, 2014. Based upon the findings of the Audit Committee and the Company in connection with the recent review of the Company’s previously issued financial statements, the Company has subsequently modified such awards to provide that voluntary resignation would not accelerate the vesting of such awards.
	The Company originally reported $22.5 million in equity-based compensation its own line item, however it now reports such compensation as general and administrative expenses.
	Depreciation and Amortization
	The Company identified that its depreciation expense and acquisition related expenses were under expensed by $2.3 million and $0.6 million, respectively, based on its accounting for certain properties acquired in 2013. As such, the Company properly recorded additional depreciation expense and acquisition related expense by the respective amounts.
	In addition, the Company identified that it did not properly record $6.0 million of depreciation expense for real estate properties acquired during the period. Therefore, the Company properly recorded the expense.
	Gain (Loss) on Disposition of Properties and Held for Sale Assets
	Subsequent to the CapLease and Cole Mergers (as defined in Note 3 - Mergers and Acquisitions (As Restated)), the Company disposed of certain properties acquired in those mergers. The disposition of such properties resulted in a net loss on disposition; however, the Company incorrectly adjusted its purchase price allocation by increasing its goodwill recorded in connection with the mergers by $13.6 million. The Company has determined that there was not sufficient evidence to support adjusting its goodwill as a measurement period adjustment. As a result, the Company reversed the measurement period adjustments that were made to goodwill and recognized a net loss on dispositions for the period ended March 31, 2014.
	In addition, the Company assigned goodwill associated with the certain mergers to the Company’s REI segment. However, the Company determined that it did not properly account for disposals of real estate because a portion of goodwill was not included in the carrying amount of the associated real estate in its determination of the gain or loss on disposition. To correct the accounting, the Company allocated $7.0 million of goodwill to real estate dispositions in the three months ended March 31, 2014, which increased the loss on disposition of properties recognized.

	Gain (Loss) on Derivative Instruments
	The Company determined that a portion of one of its interest rate swaps was incorrectly designated as effective, rather than ineffective for the three months ended March 31, 2014. Therefore, the Company incorrectly recorded the ineffective portion of the hedge through other comprehensive income (“OCI”), rather than earnings. As such, the Company recorded a gain on derivative instruments of $1.0 million and reversed the same amount from OCI.
	As part of the Cole Merger, the Company acquired a derivative liability in the amount of $10.0 million for interest rate swaps. The swaps were subsequently settled in connection with the extinguishment of the related debt. This settlement should have been recorded as a reduction of the derivative liability acquired, however it was improperly recorded as a loss on derivative instruments. As such, the Company reversed the amount recorded as a loss on derivative instruments and adjusted goodwill to be properly recorded for the period.
	In addition, The Company identified $2.1 million of expenses which were originally improperly reported as loss on derivative instruments, rather than interest expense. As such, the Company reported the respective amount as interest expense for the three months ended March 31, 2014.
Interest Expense
The Company determined that breakage costs incurred on an interest rate lock were improperly recorded as interest expense rather than OCI. As such, the Company properly recorded $3.9 million of breakage costs as OCI for the three months ended March 31, 2014.
The Company concluded that the interest expense related to a swap was underestimated by $1.4 million. As such, the Company recorded additional interest expense for the respective amount for the three months ended March 31, 2014.
In addition, the Company concluded that $7.8 million of debt extinguishment costs, which were originally reported as interest expense, should be reported as its own line item caption within the consolidated statements of operations for the three months ended March 31, 2014.
Net Loss Attributable to Non-Controlling Interests
The original calculation of the net loss attributable to non-controlling interest holders for the three months ended March 31, 2014 excluded substantial expenses that were improperly recorded at the Company’s level, but were, in fact, incurred by the OP, and therefore should have been included in the Company’s determination of the net loss attributable to its non-controlling interest holders. The 2014 restated consolidated financial statements reflect an adjustment of $2.4 million during the three months ended March 31, 2014 for net loss attributable to non-controlling interest holders.
Other Expense
As a result of the restatement corrections, the Company updated its tax provision calculation which resulted in an additional tax benefit of $1.2 million for the three months ended March 31, 2014.
Other Changes
Along with restating the consolidated financial statements to correct the errors discussed above, the Company recorded adjustments for certain previously identified immaterial accounting errors related to the three months ended March 31, 2014 and 2013. When these consolidated financial statements were originally issued, the Company assessed the impact of these errors and concluded that they were not material to the consolidated financial statements. However, in conjunction with the need to restate the consolidated financial statements as a result of the errors noted above, the Company determined that it would be appropriate to make adjustments for all such previously unrecorded adjustments.
The original calculation of net loss per share for the three months ended March 31, 2014 was based on an incorrect weighted average share count. The original weighted average share count treated a portion of certain restricted share awards as outstanding common stock prior to the actual vesting date of such awards, and as a result, the weighted average share count was overstated. Therefore, the 2014 restated consolidated financial statements reflect a decrease of 311,475 shares to the weighted average share count used in the net loss per share calculation for the three months ended March 31, 2014.
The Company also recorded certain reclassifications to update the presentation of its consolidated statement of operations for the three months ended March 31, 2014 and 2013.

In addition to the restatement of the consolidated financial statements, the Company has also restated the following notes for the three months ended March 31, 2014 and March 31, 2013 to reflect the error corrections noted above.

	•		Note 3 – Mergers and Acquisitions

	•		Note 4 – Summary of Significant Accounting Policies

	•		Note 5 – Acquisitions of CapLease and Cole

	•		Note 6 – Segment Reporting

	•		Note 7 – Real Estate Investments

	•		Note 10 – Deferred Costs and Other Assets

	•		Note 15 – Derivatives and Hedging Activities

	•		Note 16 – Accounts Payable and Accrued Expenses

	•		Note 19 – Equity-based Compensation

	•		Note 20 – Related Party Transactions and Arrangements

	•		Note 22 – Net Loss Per Share

	•		Note 24 – Income Taxes

	•		Note 25 – Subsequent Events
The following tables present the combined impact of all changes, as described above, to the applicable line items in the consolidated financial statements to the Company’s previously issued consolidated financial statements for the periods ended March 31, 2014 and 2013 and the year ended December 31, 2013 (in thousands, except share and per share amounts):
March 31, 2014 and December 31, 2013 Restated Consolidated Balance Sheets


		March 31, 2014												December 31, 2013
		As			Reclassifications			Restatement			As Restated			As			Reclassifications			Restatement			As
		Previously						Adjustments						Previously						Adjustments			Restated
		Reported												Reported (1)
ASSETS
Real estate investments, at cost:
Land		$	3,226,615		$	—		$	(2,358	)	$	3,224,257		$	1,379,453		$	—		$	855		$	1,380,308
Buildings, fixtures and improvements			11,841,722			(3,565	)		(1,502	)		11,836,655			5,291,031			—			6,369			5,297,400
Land and construction in progress			40,459			—			—			40,459			21,839			—			—			21,839
Acquired intangible lease assets			2,209,747			382			(227	)		2,209,902			758,376			382			837			759,595

Total real estate investments, at cost			17,318,543			(3,183	)		(4,087	)		17,311,273			7,450,699			382			8,061			7,459,142
Less: accumulated depreciation and amortization			(422,355	)		(167	)		(6,044	)		(428,566	)		(267,352	)		(155	)		229			(267,278	)

Total real estate investments, net			16,896,188			(3,350	)		(10,131	)		16,882,707			7,183,347			227			8,290			7,191,864
Investment in unconsolidated entities			105,775			—			—			105,775			—			—			—			—
Investment in direct financing leases, net			65,723			—			—			65,723			66,112			—			—			66,112
Investment securities, at fair value			213,803			—			—			213,803			62,067			—			—			62,067
Loans held for investment, net			98,185			—			—			98,185			26,279			—			—			26,279
Cash and cash equivalents			83,067			—			149			83,216			52,725			—			—			52,725
Derivative assets, at fair value (2)			—			—			—			—			9,189			(9,189	)		—			—
Restricted cash			55,559			—			—			55,559			35,921			—			—			35,921
Intangible assets, net			371,634			—			—			371,634			—			—			—			—
Deferred costs and other assets, net			294,694			3,350			6,053			304,097			—			281,326			—			281,326
Prepaid expenses and other assets,			—			—			—			—			187,930			(186,726	)		(1,204	)		—
net (2)			—			—			—			—			187,930			(186,726	)		(1,204	)		—
Goodwill			2,287,122			—			11,555			2,298,677			102,419			—			(9,630	)		92,789
Due from affiliates			8,550			—			169			8,719			—			—			—			—
Deferred costs, net (2)			—			—			—			—			81,311			(84,973	)		3,662			—
Assets held for sale			—			—			—			—			679			(665	)		(14	)		—

Total assets		$	20,480,300		$	—		$	7,795		$	20,488,095		$	7,807,979		$	—		$	1,104		$	7,809,083

LIABILITIES AND EQUITY
Mortgage notes payable, net		$	4,234,668		$	—		$	(594	)	$	4,234,074		$	1,301,114		$	—		$	—		$	1,301,114
Corporate bonds, net			2,545,884			—			—			2,545,884			—			—			—			—
Convertible debt, net			973,737			—			—			973,737			972,490			—			—			972,490
Senior corporate credit facilities (3)			—			—			—			—			1,819,800			(1,819,800	)		—			—
Secured credit facility (3)			—			—			—			—			150,000			(150,000	)		—			—
Credit facilities			2,415,800			—			—			2,415,800			—			1,969,800			—			1,969,800
Other debt, net			148,809			—			—			148,809			104,804			—			—			104,804
Below-market lease liabilities, net			287,199			—			(620	)		286,579			77,789			—			(620	)		77,169
Derivative liabilities, at fair value (4)			—			—			—			—			18,455			(18,455	)		—			—
Accounts payable and accrued expenses			143,860			—			5,682			149,542			808,900						(78,329	)		730,571
Deferred rent, derivative and other liabilities			195,826			—			10,279			206,105			21,816			18,455			—			40,271
Distributions payable			4,414			—			6,819			11,233			10,278			—			625			10,903
Due to affiliates			217			—			2,397			2,614			—						103,434			103,434

Total liabilities			10,950,414			—			23,963			10,974,377			5,285,446			—			25,110			5,310,556

Series D preferred stock, $0.01 par value, 21,735,008 shares (part of 100,000,000 aggregate preferred shares authorized) issued and outstanding at March 31, 2014 and December 31, 2013, respectively		$	269,299		$	—		$	—		$	269,299		$	269,299		$	—		$	—		$	269,299
Preferred stock (excluding Series D Preferred Stock), $0.01 par value, 100,000,000 shares authorized and 42,654,919 and 42,199,547 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively			427			—			—			427			422			—			—			422
Common stock, $0.01 par value, 1,500,000,000 and 750,000,000 shares authorized and 769,931,938 and 239,234,725 issued and outstanding at March 31, 2014 and December 31, 2013, respectively			7,699			—			—			7,699			2,392			—			—			2,392
Additional paid-in capital			10,305,815			(4,437	)		790			10,302,168			2,939,287			—			1,620			2,940,907
Accumulated other comprehensive income			13,397			—			(4,934	)		8,463			7,666			—			—			7,666
Accumulated deficit			(1,365,467	)		269			6,455			(1,358,743	)		(864,516	)		—			(13,441	)		(877,957	)

Total stockholders’ equity			8,961,871			(4,168	)		2,311			8,960,014			2,085,251			—			(11,821	)		2,073,430
Non-controlling interests			298,716			4,168			(18,479	)		284,405			167,983			—			(12,185	)		155,798

Total equity			9,260,587			—			(16,168	)		9,244,419			2,253,234			—			(24,006	)		2,229,228

Total liabilities and equity		$	20,480,300		$	—		$	7,795		$	20,488,095		$	7,807,979		$	—		$	1,104		$	7,809,083


	-1	These financial statements have been recast in applying the carryover basis of accounting to include the effects of the merger with ARCT IV.
	-2	This line item caption has been reclassified and included within deferred costs and other assets, net in the accompanying consolidated balance sheets for the period ended March 31, 2014.
	-3	This line item caption has been reclassified and included within credit facilities in the accompanying consolidated balance sheets for the period ended March 31, 2014.
	-4	This line item caption has been reclassified and included within deferred rent, derivative and other liabilities in the accompanying consolidated balance sheets for the period ended March 31, 2014.

March 31, 2013 Restated Consolidated Balance Sheet


		March 31, 2013
		As Previously			ARCT IV			Reclassifications			Restatement			As Restated
		Reported			Adjustments (1)			Reclassifications			Adjustments			As Restated
ASSETS
Real estate investments, at cost:
Land		$	298,280		$	39,326		$	—		$	—		$	337,606
Buildings, fixtures and improvements			1,521,505			161,868			—			—			1,683,373
Land and construction in progress			—			—			—			—			—
Acquired intangible lease assets			241,501			24,875			347			—			266,723

Total real estate investments, at cost			2,061,286			226,069			347			—			2,287,702
Less: accumulated depreciation and amortization			(81,207	)		(1,954	)		(121	)					(83,282	)

Total real estate investments, net			1,980,079			224,115			226			—			2,204,420
Investment securities, at fair value			4			61,600			—			—			61,604
Cash and cash equivalents			52,412			1,067,095			—			—			1,119,507
Restricted cash			1,287			—			—			—			1,287
Deferred costs and other assets, net			—			—			229,320			(698	)		228,622
Prepaid expenses and other assets, net			15,397			6,129			(21,526	)		—			—
Receivable for issuances of common stock			—			169,097			(169,097	)		—			—
Deferred costs, net			38,244			—			(38,244	)		—			—
Assets held for sale			679			—			(679	)		—			—

Total assets		$	2,088,102		$	1,528,036		$	—		$	(698	)	$	3,615,440

LIABILITIES AND EQUITY
Mortgage notes payable, net		$	265,118		$	—		$	—		$	—		$	265,118
Senior corporate credit facilities			640,000			—			—			—			640,000
Derivative liabilities, at fair value			5,012			—			—			—			5,012
Accounts payable and accrued expenses			6,589			641,094			(138	)		(484	)		647,061
Deferred rent and other liabilities			5,270			148			138			—			5,556
Distributions payable			92			6,619			—			62			6,773
Due to affiliates			—			—			—			1,569			1,569

Total liabilities			922,081			647,861			—			1,147			1,571,089

Series A convertible preferred stock, $0.01 par value, 545,454 shares (liquidation preference $11.00 per share) authorized, issued and outstanding at March 31, 2013			5			—			(5	)		—			—
Series B convertible preferred stock, $0.01 par value, 283,018 shares (liquidation preference $10.60 per share) authorized, issued and outstanding at March 31, 2013			3			—			(3	)		—			—
Preferred stock (excluding Series D Preferred Stock), $0.01 par value, 100,000,000 shares authorized and 35,863,711 shares issued and outstanding at March 31, 2013			—			412			8			—			420
Common stock, $0.01 par value, 240,000,000 shares authorized, 154,322,183 issued and outstanding at March 31, 2013			1,543			361			—			—			1,904
Additional paid-in capital			1,335,863			898,056			(615	)		3,035			2,236,339
Accumulated other comprehensive income			(5,018	)		335			—			—			(4,683	)
Accumulated deficit			(290,484	)		(18,989	)		—			(2,433	)		(311,906	)

Total stockholders’ equity			1,041,912			880,175			(615	)		602			1,922,074
Non-controlling interests			124,109			—			615			(2,447	)		122,277

Total equity		$	1,166,021		$	880,175		$	—		$	(1,845	)	$	2,044,351

Total liabilities and equity		$	2,088,102		$	1,528,036		$	—		$	(698	)	$	3,615,440


-1	Adjustments to financial statements in order to apply the carryover basis of accounting to include the effects of the merger with ARCT IV.

Restated Consolidated Statements of Operations


		March 31, 2014												March 31, 2013
		As			Reclassifications			Restatement			As Restated			As Previously			Reclassifications			Restatement			As Restated
		Previously						Adjustments						Reported						Adjustments
		Reported
Revenues:
Rental income		$	244,445		$	—		$	(30	)	$	244,415		$	40,987		$	—		$	—		$	40,987
Direct financing lease income			1,006			—			—			1,006			—			—			—			—
Operating expense reimbursements			21,096			—			380			21,476			1,910			—			—			1,910
Cole Capital revenue			54,067			190			—			54,257			—			—			—			—

Total revenues			320,614			190			350			321,154			42,897			—			—			42,897

Operating expenses:
Cole Capital reallowed fees and commissions			34,436			—			—			34,436			—			—			—			—
Acquisition related			11,884			—			1,533			13,417			10,327			—			—			10,327
Merger and other transaction related (1)			222,192			—			(61,894	)		160,298			137,769			—			(14,201	)		123,568
Property operating			29,627			31			97			29,755			2,549			—			—			2,549
Operating fees to affiliate (2)			—			—			13,888			13,888			—			—			12,493			12,493
General and administrative			26,839			(31	)		29,684			56,492			1,454			—			6,318			7,772
Equity-based compensation (3)			22,510			—			(22,510	)		—			881			—			(881	)		—
Depreciation and amortization			165,363			—			8,479			173,842			26,753			—			—			26,753

Total operating expenses			512,851			—			(30,723	)		482,128			179,733			—			3,729			183,462

Operating loss			(192,237	)		190			31,073			(160,974	)		(136,836	)		—			(3,729	)		(140,565	)

Other (expense) income:
Interest expense, net			(116,712	)		(3,653	)		(586	)		(120,951	)		(6,056	)		(146	)		(599	)		(6,801	)
Extinguishment of debt, net (4)			—			—			(9,399	)		(9,399	)		—			—			—			—
Other income, net			5,512			3,463			1,235			10,210			853			146			—			999
Loss on derivative instruments, net			(20,197	)		—			13,076			(7,121	)		(5	)		—			—			(5	)
Gain on disposition of properties, net (5)			2,979			—			(20,584	)		(17,605	)		—			—			—			—
Gain on sale of investments			—			—			—			—			451			—			—			451

Total other expenses, net			(128,418	)		(190	)		(16,258	)		(144,866	)		(4,757	)		—			(599	)		(5,356	)

Net loss from continuing operations			(320,655	)		—			14,815			(305,840	)		(141,593	)		—			(4,328	)		(145,921	)

Discontinued operations:
Loss from operations of held for sale properties			—			—			—			—			(16	)		—			—			(16	)
Gain on held for sale properties			—			—			—			—			14			—			(14	)		—

Net loss from discontinued operations			—			—			—			—			(2	)		—			(14	)		(16	)
Net loss			(320,655	)		—			14,815			(305,840	)		(141,595	)		—			(4,342	)		(145,937	)
Net loss attributable to non-controlling interest			11,974			—			2,422			14,396			432			—			1,625			2,057

Net loss attributable to the Company		$	(308,681	)	$	—		$	17,237		$	(291,444	)	$	(141,163	)	$	—		$	(2,717	)	$	(143,880	)

Basic and diluted net loss per share attributable to common stockholders		$	(0.61	)	$	—		$	0.03		$	(0.58	)	$	(0.84	)	$	—		$	(0.02	)	$	(0.86	)

-1	This line item caption has been updated to merger and other non-routine transactions in the accompanying consolidated statements of operations.

-2	This line item caption has been updated to management fees to affiliates in the accompanying consolidated statements of operations.
-3	As disclosed above, this line item caption has been reclassified into general and administrative in the accompanying consolidated statements of operations.
-4	This line item caption has been added and is included in the accompanying consolidated statements of operations for the period ended March 31, 2014.
-5	This line item caption has been updated to loss on disposition of properties, net in the accompanying consolidated statements of operations.
Restated Statements of Comprehensive Loss


		March 31, 2014												March 31, 2013
		As			Reclassifications			Restatement			As Restated			As			Reclassifications			Restatement			As Restated
		Previously						Adjustments						Previously						Adjustments
		Reported												Reported
Net loss (1)		$	(320,655	)	$	—		$	14,815		$	(305,840	)	$	(141,595	)	$	—		$	(4,342	)	$	(145,937	)
Other comprehensive income (loss):
Designated derivatives, fair value adjustments			2,636			—			(4,934	)		(2,298	)		(1,177	)		—			—			(1,177	)
Unrealized gain (loss) on investment securities			3,095			—			—			3,095			428			—			—			428

Total other comprehensive income (loss)			5,731			—			(4,934	)		797			(749	)		—			—			(749	)

Total comprehensive loss			(314,924	)		—			9,881			(305,043	)		(142,344	)		—			(4,342	)		(146,686	)
Comprehensive loss attributable to non-controlling interests			11,974			—			2,422			14,396			432			—			1,625			2,057

Total comprehensive income attributable to the Company (2)		$	(302,950	)	$	—		$	12,303		$	(290,647	)	$	(141,912	)	$	—		$	(2,717	)	$	(144,629	)


-1	The statement of comprehensive loss previously began with net loss attributable to common stockholders . The statement has been updated to begin with net loss to properly show the total comprehensive loss.
-2	This line item caption has been added and is included in the accompanying statement of comprehensive loss for the period ended March 31, 2014.
Restated Statements of Cash Flows


		March 31, 2014												March 31, 2013
		As			Reclassifications			Restatement			As Restated			As			Reclassifications			Restatement			As Restated
		Previously						Adjustments						Previously						Adjustments
		Reported												Reported
Cash flows from operating activities:
Net loss		$	(320,655	)	$	—		$	14,815		$	(305,840	)	$	(141,595	)	$	—		$	(4,342	)	$	(145,937	)
Adjustments to reconcile net loss to net cash used in operating activities:
Issuance of OP Units			153,884			—			(61,000	)		92,884			108,247			—			(476	)		107,771
Depreciation and amortization (1)			—			185,177			28,863			214,040			—			—			—			—
Depreciation (1)			111,015			(111,015	)		—			—			21,474			—			599			22,073
Amortization of intangible lease assets (1)			40,159			(40,159	)		—			—			5,279			—			—			5,279
Amortization of deferred costs (1)			38,064			(38,064	)		—			—			1,222			—			—			1,222
Amortization of above- and below-market lease asset (1)			358			(358	)		—			—			68			—			—			68
Amortization of intangible assets (1)			13,992			(13,992	)		—			—			—			—			—			—
Amortization of discounts and premiums (1)			(18,411	)		18,411			—			—			—			—			—			—
Gain (loss) on disposition of properties			(2,979	)		—			20,584			17,605			(14	)		—			14			—
Equity-based compensation		$	22,510		$	—		$	(936	)	$	21,574		$	3,260		$	—		$	73		$	3,333
Equity in income of unconsolidated entities			(251	)		—			—			(251	)		—			—			—			—
Distributions from unconsolidated entities(2)			—			—			941			941			—			—			—			—
Net direct financing lease adjustments (3)			—			—			—			—			—			—			—			—
Loss (gain) on derivative instruments			8,048			—			(927	)		7,121			5			—			—			5
Loss (gain) on sale of investments, net			—			—			—			—			(451	)		—			—			(451	)
Loss on extinguishment of debt			15,681			—			(35,309	)		(19,628	)		—			—			—			—
Changes in assets and liabilities:
Investment in direct financing leases			(3,104	)		—			3,493			389			—			—			—			—
Deferred costs and other assets			3,348			—			4,597			7,945			(4,710	)		—			—			(4,710	)
Due from affiliates			(8,349	)		—			31			(8,318	)		—			—			—			—
Accounts payable and accrued expenses			(148,052	)		—			74,657			(73,395	)		(1,960	)		—			(484	)		(2,444	)
Deferred rent and other liabilities			(12,365	)		—			(24,266	)		(36,631	)		1,024			—			—			1,024
Due to affiliates			981			—			(42,245	)		(41,264	)		—			—			1,569			1,569

Net cash used in operating activities			(106,126	)		—			(16,702	)		(122,828	)		(8,151	)		—			(3,047	)		(11,198	)

Cash flows from investing activities:
Investments in real estate and other assets			(672,856	)		—			38,315			(634,541	)		(412,628	)		—			1,041			(411,587	)
Acquisition of a real estate business, net of cash acquired			(681,510	)		—			(1,730	)		(683,240	)		—			—			—			—
Capital expenditures			(4,796	)		—			1,684			(3,112	)		—			—			—			—
Real estate developments (2)			—			—			(13,044	)		(13,044	)		—			—			—			—
Return of investment from unconsolidated entities (3)			941			—			(941	)		—						—			—			—
Principal repayments received from borrowers			3,062			—			—			3,062			—			—			—			—
Investments in unconsolidated entities			(2,500	)		—			—			(2,500	)		—			—			—			—
Proceeds from disposition of properties			60,036			—			749			60,785			—			—			—			—
Investment in intangible assets			(258	)		—			—			(258	)		—			—			—			—
Deposits for real estate investments			(55,029	)		—			16,816			(38,213	)		(7,769	)		—			—			(7,769	)
Uses and refunds of deposits for real estate investments			137,688			—			—			137,688			—			—			—			—
Purchases of investment securities			—			—			—			—			(63,269	)		—			—			(63,269	)
Line of credit advances to affiliates			(36,000	)		—			35,000			(1,000	)		—			—			—			—
Line of credit repayments from affiliates			39,100			—			(35,200	)		3,900			—			—			—			—
Proceeds from sale of investment securities			—			—			—			—			44,198			—			—			44,198
Change in restricted cash			—			—			(3,934	)		(3,934	)		—			—			—			—

Net cash used in investing activities			(1,212,122	)		—			37,715			(1,174,407	)		(439,468	)		—			1,041			(438,427	)

Cash flows from financing activities:
Proceeds from mortgage notes payable		$	669,336		$	—		$	—		$	669,336		$	—		$	—		$	—		$	—
Payments on mortgage notes payable			(739,087	)		—			(593	)		(739,680	)		—			—			—			—
Payments on other debt			(4,938	)		—			—			(4,938	)		—			—			—			—
Proceeds from credit facilities			2,131,000			—			—			2,131,000			675,000			—			—			675,000
Payments on credit facilities			(2,994,000	)		—			—			(2,994,000	)		(159,604	)		—			—			(159,604	)
Proceeds from corporate bonds			2,545,760			—			—			2,545,760			—			—			—			—
Payments of deferred financing costs			(43,037	)		—			(23,797	)		(66,834	)		(24,587	)		—			(956	)		(25,543	)
Common stock repurchases			—			—			—			—			(350,522	)		—			—			(350,522	)
Proceeds from issuances of common stock			—			—			—			—			1,317,389			—			—			1,317,389
Payments of offering costs and fees related to stock issuances			(1,715	)		—			(418	)		(2,133	)		(138,578	)		—			(73	)		(138,651	)
Consideration to Former Manager for internalization			—			—			—			—			(3,035	)		—			3,035			—
Contributions from non-controlling interest holders			279			—			—			279			750			—			—			750
Distributions to non-controlling interest holders			(9,589	)		—			101			(9,488	)		(921	)		—			—			(921	)
Distributions paid			(201,485	)		—			(91	)		(201,576	)		(40,636	)		—			—			(40,636	)
Payments to affiliates, net			—			—			—			—			(526	)		—			—			(526	)
Change in restricted cash			(3,934	)		—			3,934			—			(179	)		—			—			(179	)

Net cash provided by financing activities			1,348,590			—			(20,864	)		1,327,726			1,274,551			—			2,006			1,276,557

Net change in cash and cash equivalents			30,342			—			149			30,491			826,932			—			—			826,932
Cash and cash equivalents, beginning of period			52,725			—			—			52,725			292,575			—			—			292,575

Cash and cash equivalents, end of period		$	83,067		$	—		$	149		$	83,216		$	1,119,507		$	—		$	—		$	1,119,507

Supplemental Disclosures:
Cash paid for interest		$	52,518		$	—		$	(186	)	$	52,332		$	1,363		$	—		$	—		$	1,363
Cash paid for income taxes		$	—		$	—		$	7,616		$	7,616		$	222		$	—		$	—		$	222

Non-cash investing and financing activities:
Common stock issued through distribution reinvestment plan		$	—		$	—		$	—		$	—		$	7,498		$	—		$	—		$	7,498

-1	These five depreciation and amortization line item captions have been consolidated into one line item caption named depreciation and amortization in the accompanying consolidated statements of cash flows.
-2	This line item caption has been added and is included in the accompanying consolidated statements of cash flows for the period ended March 31, 2014.
-3	This line item has been removed from the accompanying consolidated statements of cash flows for the period ended March 31, 2014.

Mergers_and_Acquisitions_As_Re

Mergers and Acquisitions (As Restated)	3 Months Ended
Mergers and Acquisitions (As Restated)	Mar. 31, 2014
Business Combinations [Abstract]
Mergers and Acquisitions (As Restated)	Note 3 — Mergers and Acquisitions (As Restated)
	American Realty Capital Trust III, Inc. Merger
	On December 14, 2012, the Company entered into an Agreement and Plan of Merger (the “ARCT III Merger Agreement”) with American Realty Capital Trust III, Inc. (“ARCT III”) and certain subsidiaries of each company. The ARCT III Merger Agreement provided for the merger of ARCT III with and into a subsidiary of the Company (the “ARCT III Merger”). The ARCT III Merger was consummated on February 28, 2013.
	Pursuant to the terms and subject to the conditions set forth in the ARCT III Merger Agreement, each outstanding share of common stock of ARCT III, including restricted shares which became vested, was converted into the right to receive (i) 0.95 of a share of the Company’s common stock (the “ARCT III Exchange Ratio”) or (ii) $12.00 in cash. In addition, each outstanding unit of equity ownership of ARCT III’s operating partnership (the “ARCT III OP”) was converted into the right to receive 0.95 of the same class of unit of equity ownership in the OP.
	Upon the closing of the ARCT III Merger on February 28, 2013, the Company paid an aggregate of $350 million in cash for 29.2 million shares that elected cash consideration, or 16.5% of the then outstanding shares of ARCT III’s common stock (which is equivalent to 27.7 million shares of the Company’s common stock based on the ARCT III Exchange Ratio). In addition, 140.7 million shares of the Company’s common stock were issued in exchange for 148.1 million shares of ARCT III’s common stock adjusted for the ARCT III Exchange Ratio.
	Upon the consummation of the ARCT III Merger, American Realty Capital Trust III Special Limited Partner, LLC (the “ARCT III Special Limited Partner”), the holder of the special limited partner interest in the ARCT III OP, was entitled to subordinated distributions of net sales proceeds from the ARCT III OP which resulted in the issuance of units of limited partner interests in the ARCT III OP, when after applying the ARCT III Exchange Ratio, resulting in the issuance of an additional 7.3 million OP Units to affiliates of the Former Manager. The parties had agreed that such OP Units would be subject to a minimum one-year holding period from the date of issuance before being exchangeable into the Company’s common stock.
	Also in connection with the ARCT III Merger, the Company entered into an agreement with ARC and its affiliates to internalize certain functions performed by them prior to the ARCT III Merger, reduce certain fees paid to affiliates and pay certain merger related fees. See Note 20 — Related Party Transactions and Arrangements (As Restated).
	Accounting Treatment for the ARCT III Merger
	The Company and ARCT III, from inception to the ARCT III Merger date, were considered to be entities under common control. Both entities’ advisors were wholly owned subsidiaries of ARC. ARC and its related parties had significant ownership interests in the Company and ARCT III through the ownership of shares of common stock and other equity interests. In addition, the advisors of both entities were contractually eligible to receive potential fees for their services to both of the companies including asset management fees, incentive fees and other fees and continued to receive fees from the Company prior to the Company’s transition to self-management. Due to the significance of these fees, the advisors and ultimately ARC were determined to have a significant economic interest in both companies in addition to having the power to direct the significant activities of the companies through advisory/management agreements, which qualified them as affiliated companies under common control in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The acquisition of an entity under common control is accounted for on the carryover basis of accounting, whereby the assets and liabilities of the companies are recorded upon the merger on the same basis as they were carried by the companies on the ARCT III Merger date. In addition, U.S. GAAP requires the Company to present historical financial information for all periods that entities were under common control. Therefore, the accompanying consolidated financial statements including the notes thereto are presented as if the ARCT III Merger had occurred at inception.
	CapLease, Inc. Merger
	On May 28, 2013, the Company entered into an Agreement and Plan of Merger (the “CapLease Merger Agreement”) with CapLease, Inc., a Maryland corporation (“CapLease”), and certain subsidiaries of each company. The CapLease Merger Agreement provided for the merger of CapLease with and into a subsidiary of the Company (the “CapLease Merger”).

	On November 5, 2013, the Company completed the CapLease Merger. Pursuant to the terms of the CapLease Merger Agreement, each outstanding share of common stock of CapLease, other than shares owned by the Company, CapLease or any of their respective wholly owned subsidiaries, was converted into the right to receive $8.50. Each outstanding share of preferred stock of CapLease, other than shares owned by the Company, CapLease or any of their respective wholly owned subsidiaries, was converted into the right to receive an amount in cash equal to the sum of $25.00 plus all accrued and unpaid dividends on such shares of preferred stock. In addition, in connection with the merger of CapLease, LP with and into the OP, each outstanding unit of equity ownership of CapLease’s operating partnership, other than units owned by CapLease or any wholly owned subsidiary of CapLease, was converted into the right to receive $8.50. Vesting of CapLease’s outstanding restricted stock was accelerated and restricted stock and any outstanding performance shares were fully earned and received $8.50 per share. In total, cash consideration of $920.7 million was paid to CapLease’s common and preferred shareholders.
	Accounting Treatment for the CapLease Merger
	The CapLease Merger has been accounted for under the acquisition method of accounting under U.S. GAAP. Under the acquisition method of accounting, the assets acquired and liabilities assumed from CapLease have been recorded as of the acquisition date at their respective fair values. Any excess of purchase price over the fair values is recorded as goodwill. Results of operations for CapLease are included in the Company’s consolidated financial statements from the date of acquisition.
	American Realty Capital Trust IV, Inc. Merger
	On July 1, 2013, the Company entered into an Agreement and Plan of Merger, as amended on October 6, 2013 and October 11, 2013 (the “ARCT IV Merger Agreement”), with ARCT IV, and certain subsidiaries of each company. The ARCT IV Merger Agreement provided for the merger of ARCT IV with and into a subsidiary of the OP (the “ARCT IV Merger”). The Company consummated the ARCT IV Merger on January 3, 2014.
	Pursuant to the terms of the ARCT IV Merger Agreement, as amended, each outstanding share of common stock of ARCT IV, including unvested restricted shares that vested in conjunction with the ARCT IV Merger, was exchanged for (i) $9.00 in cash, (ii) 0.5190 of a share of the Company’s common stock (the “ARCT IV Exchange Ratio”) and (iii) 0.5937 of a share of a new series of preferred stock of the Company designated as the 6.70% Series F Cumulative Redeemable Preferred Stock (“Series F Preferred Stock”) and each outstanding unit of ARCT IV’s operating partnership (each, an “ARCT IV OP Unit”), other than ARCT IV OP Units held by American Realty Capital Trust IV Special Limited Partner, LLC (the “ARCT IV Special Limited Partner”) and American Realty Capital Advisors IV, LLC (the “ARCT IV Advisor”) was exchanged for (i) $9.00 in cash, (ii) 0.5190 of an OP Unit and (iii) 0.5937 of an OP Unit designated as Series F Preferred Units (“Series F OP Units”). In total, the Company paid $651.4 million in cash, issued 36.9 million shares of common stock and 42.2 million shares of Series F Preferred Stock, and issued 0.7 million Series F OP units and 0.6 million OP Units to the former ARCT IV shareholders and ARCT IV OP Unit holders in connection with the consummation of the ARCT IV Merger. In addition, each outstanding ARCT IV Class B Unit (as defined below) and each outstanding ARCT IV OP Unit held by the ARCT IV Special Limited Partner and the ARCT IV Advisor was converted into 2.3961 OP Units, resulting in the Company issuing 1.2 million OP Units.

	On January 3, 2014, the OP entered into a Contribution and Exchange Agreement (the “ARCT IV Contribution and Exchange Agreement”) with the ARCT IV OP, ARCT IV Special Limited Partner and ARC Real Estate Partners, LLC (“ARC Real Estate”), an entity affiliated with the Former Manager. The ARCT IV Special Limited Partner was entitled to receive certain distributions from the ARCT IV OP, including the subordinated distribution of net sales proceeds resulting from an “investment liquidity event” (as defined in the agreement of limited partnership of the ARCT IV OP). The ARCT IV Merger constituted an “investment liquidity event,” as a result of which the ARCT IV Special Limited Partner, in connection with management’s successful attainment of the 6.0% performance hurdle and the return to ARCT IV’s stockholders of approximately $358.3 million in addition to their initial investment, was entitled to receive a subordinated distribution of net sales proceeds from the ARCT IV OP equal to approximately $63.2 million. Pursuant to the ARCT IV Contribution and Exchange Agreement, the ARCT IV Special Limited Partner contributed its interest in the ARCT IV OP, inclusive of the subordinated distribution proceeds received, to the ARCT IV OP in exchange for 2.8 million equity units of the ARCT IV OP, based on a price per share of $22.50. The fair value of these units at date of issuance was $78.2 million and has been included in merger and other non-routine transaction costs in the accompanying consolidated statement of operations for the three months ended March 31, 2014. Upon consummation of the ARCT IV Merger, these equity units were immediately converted to 6.7 million OP Units after application of the exchange ratio of 2.3961 per share. In conjunction with the ARCT IV Merger Agreement, the ARCT IV Special Limited Partner agreed to a minimum two-year holding period for these OP units before converting them to shares of Company common stock.
	In addition, as part of the ARCT IV Contribution and Exchange Agreement, ARC Real Estate Partners, LLC, contributed $750,000 in cash to the ARCT IV OP, effective prior to the consummation of the ARCT IV Merger, in exchange for ARCT IV OP Units. Upon the consummation of the ARCT IV Merger, these equity units converted at an exchange ratio of 2.3961 OP Units per ARCT IV OP Unit, resulting in the Company issuing 0.1 million OP Units.
	Accounting Treatment for the ARCT IV Merger
	The Company and ARCT IV, from inception to the ARCT IV Merger date, were considered to be entities under common control. Both entities’ advisors were wholly owned subsidiaries of ARC. ARC and its related parties had ownership interests in the Company and ARCT IV through the ownership of shares of common stock, OP Units and other equity interests. In addition, the advisors of both entities were contractually eligible to receive potential fees for their services to both of the companies including asset management fees, incentive fees and other fees and had continued to receive fees from the Company prior to the Company’s transition to self-management. Due to the significance of these fees, the advisors and ultimately ARC were determined to have a significant economic interest in both companies in addition to having the power to direct the activities of the companies through advisory/management agreements, which qualified them as affiliated companies under common control in accordance with U.S. GAAP. The acquisition of an entity under common control is accounted for on the carryover basis of accounting, whereby the assets and liabilities of the companies are recorded upon the merger on the same basis as they were carried by the companies on the ARCT IV Merger date. In addition, U.S. GAAP requires the Company to present historical financial information for all periods that entities were under common control. Therefore, the accompanying consolidated financial statements including the notes thereto are presented as if the ARCT IV Merger, including the impact of the equity transactions entered to consummate the merger, had occurred at inception.

	Fortress Portfolio Acquisition
	On July 24, 2013, ARC and another related entity, on behalf of the Company and certain other entities sponsored directly or indirectly by ARC, entered into a purchase and sale agreement with affiliates of funds managed by Fortress Investment Group LLC (“Fortress”) for the purchase of 196 properties owned by Fortress, for an aggregate contract purchase price of $972.5 million, subject to adjustments set forth in the purchase and sale agreement and exclusive of closing costs, which were allocated to the Company based on the pro rata fair value of the properties acquired by the Company relative to the fair value of all 196 properties to be acquired from Fortress. Of the 196 properties, 120 properties were allocated to and assigned by the Company (the “Fortress Portfolio”). On October 1, 2013, the Company closed on 41 of the 120 properties with a total purchase price of $200.3 million, exclusive of closing costs. During the three months ended March 31, 2014, the Company closed the acquisition of the remaining 79 properties in the Fortress Portfolio for an aggregate contract purchase price of $400.9 million, exclusive of closing costs. The total purchase price of the Fortress Portfolio was $601.2 million, exclusive of closing costs.
	Cole Real Estate Investments, Inc. Merger
	On October 22, 2013, the Company entered into an agreement and plan of merger (the “Cole Merger Agreement”) with Cole Real Estate Investments, Inc. (“Cole”), a Maryland corporation, and a wholly owned subsidiary of the Company. The Cole Merger Agreement provided for the merger of Cole with and into a wholly owned subsidiary of the Company (the “Cole Merger”). The Company consummated the Cole Merger on February 7, 2014 (the “Cole Acquisition Date”).
	Pursuant to the terms of the Cole Merger Agreement, each share of common stock of Cole issued and outstanding immediately prior to the effectiveness of the Cole Merger, including unvested restricted stock units (“RSUs”) and performance stock units that vested in conjunction with the Cole Merger, other than shares owned by the Company, any subsidiary of the Company or any wholly owned subsidiary of Cole, was converted into the right to receive either (i) 1.0929 shares of common stock, par value $0.01 per share, of the Company (the “Stock Consideration”) or (ii) $13.82 in cash (the “Cash Consideration,” and together with the Stock Consideration, the “Merger Consideration”). Approximately 98% of all outstanding Cole holders received Stock Consideration and approximately 2% of outstanding Cole shares elected to receive Cash Consideration, pursuant to the terms of the Cole Merger Agreement, resulting in the Company issuing approximately 520.8 million shares of Company common stock and paying $181.8 million to holders of Cole shares based on their elections.
	In addition, the Company issued approximately 2.8 million shares of Company common stock, in the aggregate, to certain executives of Cole pursuant to letter agreements entered into between the Company and such individuals concurrently with the execution of the Cole Merger Agreement, as previously disclosed by the Company. Additionally, effective as of the Cole Acquisition Date, the Company issued, but has not yet allocated, 0.4 million shares with dividend equivalent rights commensurate with the Company’s common stock.
	Accounting Treatment for the Cole Merger
	The Cole Merger has been accounted for under the acquisition method of accounting under U.S. GAAP. Under the acquisition method of accounting, the assets acquired and liabilities assumed from Cole have been recorded as of the acquisition date at their respective fair values. Any excess of purchase price over the fair values is recorded as goodwill. Results of operations for Cole are included in the Company’s consolidated financial statements subsequent to the Cole Acquisition Date.
	Inland Portfolio Acquisition
	On August 8, 2013, ARC and another related entity, on behalf of the Company and certain other entities sponsored directly or indirectly by ARC, entered into a purchase and sale agreement with Inland American Real Estate Trust, Inc. (“Inland”) for the purchase of the equity interests of 67 companies owned by Inland for an aggregate contract purchase price of approximately $2.3 billion, subject to adjustments set forth in the purchase and sale agreement and exclusive of closing costs. Of the 67 companies, the equity interests of 10 companies (the “Inland Portfolio”) were allocated to the Company for a purchase price of approximately $501.0 million, subject to adjustments set forth in the purchase and sale agreement and exclusive of closing costs, which was allocated to the Company based on the pro rata fair value of the Inland Portfolio relative to the fair value of all 67 companies to be acquired from Inland by the Company and the other entities sponsored directly or indirectly by ARC. The Inland Portfolio is comprised of 33 properties. As of March 31, 2014, the Company had closed on 32 of the 33 properties for a total purchase price of $288.2 million, exclusive of closing costs. The Company does not consider it probable to close on the remaining one property.
	Abandoned Spin-off of Multi-Tenant Shopping Center Portfolio
	On March 13, 2014, the Company announced its intention to spin off its multi-tenant shopping center business (“MT Spin-off”) into a publicly traded REIT, American Realty Capital Centers, Inc., which was expected to operate under the name “ARCenters” and to trade on the NASDAQ Global Market under the symbol “ARCM.” The OP was expected to retain 25% ownership of ARCM. The spin-off was expected to be effectuated through a pro rata taxable special distribution of one share of ARCM common stock for every 10 shares of the Company’s common stock and every 10 OP Units held by third parties in the OP. On April 4, 2014, ARCM filed a Registration Statement on Form 10 to register ARCM’s common stock, par value $0.01 per share, pursuant to Section 12(b) of the Exchange Act so that, upon consummation of the spin-off, shares of ARCM received by holders of the Company’s common stock, or OP Units, as applicable, could freely trade their newly received ARCM common stock. ARCM was expected to be externally managed by the Company. On May 21, 2014, the Company announced that it had reassessed its plans for the multi-tenant shopping center portfolio and entered into a letter of intent to sell such portfolio to Blackstone, expecting to finalize pertinent documentation related thereto within 30 days of such date. The properties included in such sale were the same properties that would have been spun off into ARCM and, consequently, the Company abandoned its proposed spin-off at such time. On June 11, 2014, indirect subsidiaries of the Company entered into an Agreement of Purchase and Sale with BRE DDR Retail Holdings III LLC, an entity indirectly jointly owned by affiliates of Blackstone Real Estate Partners VII L.P. and DDR Corp., pursuant to which the parties definitively documented the sale of the Company’s multi-tenant shopping center portfolio. The properties to be sold pursuant to such agreement were the same properties that the Company had previously intended to spin off into an externally managed, NASDAQ traded REIT, American Realty Capital Centers, Inc. In light of the Company’s entry into such agreement, it abandoned its previously contemplated spin-off.

Summary_of_Significant_Account

Summary of Significant Accounting Policies (As Restated)

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

Summary of Significant Accounting Policies (As Restated)

Note 4 — Summary of Significant Accounting Policies (As Restated)

The consolidated financial statements of the Company included herein were prepared in conformity with U.S. GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. 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 the interim periods. 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 consolidated 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 of the Company, which are included in the Amended 10-K. There have been no significant changes to these policies during the three months ended March 31, 2014, other than the updates described below.

Principles of Consolidation and Basis of Presentation

The consolidated financial statements include the accounts of the Company, consolidated joint venture arrangements and its subsidiaries. The portions of the consolidated joint venture arrangements not owned by the Company are presented as non-controlling interests. In addition, as described in Note 1 — Organization, certain affiliates and non-affiliated third parties have been issued OP Units. Holders of OP Units are considered to be non-controlling interest holders in the OP and their ownership interest is reflected as equity in the consolidated balance sheets. In addition, a portion of the earnings and losses of the OP are allocated to non-controlling interest holders based on their respective ownership percentages. Upon conversion of OP Units to common stock, any difference between the fair value of common shares issued and the carrying value of the OP Units converted is recorded as a component of equity. As of March 31, 2014 and December 31, 2013, there were 24,836,863 and 9,591,174 OP Units outstanding, respectively. In addition, as discussed in Note 3 — Mergers and Acquisitions (As Restated), the historical information of ARCT III and ARCT IV has been presented as if the mergers had occurred from the earliest date of common control for each Merger.

The Company evaluates its relationships and investments to determine if it has variable interests. A variable interest is an investment or other interest that will absorb portions of an entity’s expected losses or receive portions of the entity’s expected residual returns. The Company’s evaluation includes consideration of the qualitative and quantitative significance of fees the Company earns from certain of its relationships and investments. If the Company determines that it has a variable interest in an entity, it evaluates whether such interest is in a variable interest entity (“VIE”). A VIE is broadly defined as an entity where either (1) the equity investors as a group, if any, lack the power through voting or similar rights to direct the activities of an entity that most significantly impact the entity’s economic performance or (2) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support.

A variable interest holder is considered to be the primary beneficiary of a VIE if it has the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and has the obligation to absorb losses of, or the right to receive benefits from, the entity that could potentially be significant to the VIE. The Company qualitatively assesses whether it is (or is not) the primary beneficiary of a VIE. Consideration of various factors include, but are not limited to, the Company’s ability to direct the activities that most significantly impact the entity’s economic performance, its form of ownership interest, its representation on the entity’s governing body, the size and seniority of its investment, its ability and the rights of other investors to participate in policy making decisions and to replace the manager of and/or liquidate the entity. The Company consolidates any VIEs when it is determined to be the primary beneficiary of the VIE’s operations and the difference between consolidating the VIE and accounting for it on the equity method would be material to the Company’s financial statements.

The Company continually evaluates the need to consolidate joint ventures and the managed investment programs based on standards set forth in GAAP as described above.

Investment in Unconsolidated Entities

Investment in Unconsolidated Joint Ventures

Investment in unconsolidated joint ventures as of March 31, 2014 consisted of the Company’s interest in six joint ventures that owned six properties (the “Unconsolidated Joint Ventures”). As of March 31, 2014, the Company owned aggregate equity investments of $100.7 million in the Unconsolidated Joint Ventures. The Company accounts for the Unconsolidated Joint Ventures using the equity method of accounting as the Company has the ability to exercise significant influence, but not control, over operating and financial policies of these investments. The equity method of accounting requires the investment to be initially recorded at cost and subsequently adjusted for the Company’s share of equity in the joint ventures’ earnings and distributions.

Investment in Managed REITs

As of March 31, 2014, the Company owned aggregate equity investments of $5.1 million in the following publicly registered, non-traded REITs: Cole Credit Property Trust, Inc. (“CCPT”); Cole Credit Property Trust IV, Inc. (“CCPT IV”); Cole Corporate Income Trust, Inc. (“CCIT”); Cole Real Estate Income Strategy (Daily NAV), Inc. (“INAV”); Cole Office & Industrial REIT (CCIT II), Inc. (“CCIT II”); and Cole Credit Property Trust V, Inc. (“CCPT V,” and collectively with CCPT, CCPT IV, CCIT, INAV and CCIT II, the “Managed REITs”). The Company accounts for these investments using the equity method of accounting, which requires the investment to be initially recorded at cost and subsequently adjusted for the Company’s share of equity in the respective Managed REIT’s earnings and distributions.

Leasehold Improvements and Property and Equipment

The Company leases its office facilities under operating leases. Leasehold improvements related to these are recorded at cost less accumulated amortization. Leasehold improvements are amortized over the lesser of the estimated useful life or remaining lease term.

Property and equipment, which primarily include office furniture, fixtures and equipment and computer hardware and software, are stated at cost less accumulated depreciation. Property and equipment are depreciated on a straight-line method over the estimated useful lives of the assets, which range from five to seven years. The Company reassesses the useful lives of its property and equipment and adjusts the future monthly depreciation expense based on the new useful life, as applicable. If the Company disposes of an asset, the asset and related accumulated depreciation are written off upon disposal.

Impairments

Investment in Unconsolidated Entities

The Company is required to determine whether an event or change in circumstances has occurred that may have a significant adverse effect on the fair value of any of its investment in the unconsolidated entities. If an event or change in circumstance has occurred, the Company is required to evaluate its investment in the unconsolidated entity for potential impairment and determine if the carrying amount of its investment exceeds its fair value. An impairment charge is recorded when an impairment is deemed to be other-than-temporary. To determine whether an impairment is other-than-temporary, the Company considers whether it has the ability and intent to hold the investment until the carrying amount is fully recovered. The evaluation of an investment in an unconsolidated entity for potential impairment requires the Company’s management to exercise significant judgment and to make certain assumptions. The use of different judgments and assumptions could result in different conclusions.

No impairment losses were recorded related to the Company’s unconsolidated entities for the period from the Cole Acquisition Date to March 31, 2014.

Leasehold Improvements and Property and Equipment

Leasehold improvements and property and equipment are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If this review indicates that the carrying amount of the asset is not recoverable, the Company records an impairment loss, measured at fair value by estimated discounted cash flows or market appraisals. The Company identified two properties during the three months ended March 31, 2014 with impairment indicators. However, the undiscounted future cash flows expected as a result of the use and eventual disposition of the real estate and related assets was in excess of the carrying amounts, and as such no impairment charges were incurred.

Goodwill

In the case of a business combination, after identifying all tangible and intangible assets and liabilities, the excess consideration paid over the fair value of the assets and liabilities acquired and assumed, respectively, represents goodwill. Goodwill that arose as a result of the Company’s mergers and acquisitions was recorded in the Company’s consolidated financial statements.

In the event the Company disposes of a property that constitutes a business under U.S. GAAP from a reporting unit with goodwill, the Company will allocate a portion of the reporting unit’s goodwill to that business in determining the gain or loss on the disposal of the business. The amount of goodwill allocated to the business will be based on the relative fair value of the business to the fair value of the reporting unit. The REI segment and Cole Capital each comprise one reporting unit.

The Company will evaluate goodwill for impairment annually or more frequently when an event occurs or circumstances change that indicate the carrying value, by reporting unit, may not be recoverable. The Company’s annual testing date is during the fourth quarter. The Company will test goodwill for impairment by first comparing the book value of net assets to the fair value of each reporting unit. If the fair value is determined to be less than the book value or if qualitative factors indicate that it is more likely than not that goodwill is impaired, a second step is performed to compute the amount of impairment as the difference between the estimated fair value of goodwill and the carrying value. The Company will estimate the fair value of the reporting units using discounted cash flows and relevant competitor multiples. The evaluation of goodwill for potential impairment requires the Company’s management to exercise significant judgment and to make certain assumptions. The use of different judgments and assumptions could result in different conclusions.

The following summarizes the Company’s goodwill activity during the three months ended March 31, 2014 by segment (in thousands):

REI Segment

Cole Capital

Consolidated

Balance as of January 1, 2014

92,789

—

92,789

Cole Merger (1)

1,654,085

558,835

2,212,920

Goodwill allocated to dispositions (2)

(7,032

)

—

(7,032

)

Balance as of March 31, 2014

1,739,842

558,835

2,298,677

-1

Goodwill recognized from the Cole Merger was assigned to the REI segment and Cole Capital based on the excess consideration paid over the fair value of the assets and liabilities acquired and assumed in each segment. Refer to Note 5 — Acquisitions of CapLease and Cole (As Restated) for further discussion.

-2

Goodwill allocated to the cost basis of properties sold or classified as held for sale is included in loss on held for sale assets and disposition of properties, net, in the consolidated statement of operations.

Program Development Costs

The Company pays for organization, registration and offering expenses associated with the sale of common stock of the Managed REITs. The reimbursement of these expenses by the Managed REITs is limited to a certain percentage of the proceeds raised from their offerings, in accordance with their respective advisory agreement and charter. Such expenses paid by the Company on behalf of the Managed REITs in excess of these limits that are expected to be collected are recorded as program development costs. The Company assesses the collectability of the program development costs, considering the offering period and historical and forecasted sales of shares under the Managed REITs’ respective offering and reserves for any balances considered not collectible. No reserves were recorded as of March 31, 2014, as the Company expects to be reimbursed for all of the program development costs by the Managed REITs as additional proceeds from their respective offerings are raised. Program development costs are included in deferred costs and other assets, net in the accompanying consolidated balance sheets.

Acquisition Related Expenses and Merger and Other Non-routine Transaction Related Expenses

All direct costs incurred as a result of a business combination are classified as acquisition costs or merger and other non-routine transaction costs and expensed as incurred. In addition, indirect costs, such as internal salaries, that are tracked and documented in a manner that clearly indicate that the activities driving the cost directly relate to activities necessary to complete, or effect, a business combination are classified as acquisition related expenses. Similar costs incurred in relation to mergers with entities under common control (which are not accounted for as acquisitions) are included in the caption “merger and other non-routine transactions.” Acquisition related expenses include legal and other transaction related costs incurred in connection with self-originated acquisitions including purchases of portfolios. Other non-routine transaction costs are also presented within the line item merger and other non-routine transactions in the consolidated statements of operations.

Merger and other non-routine transaction related expenses include the following costs (amounts in thousands):

Three Months Ended March 31,

2014

2013

(As Restated)

Merger related costs:

Strategic advisory services

32,615

10,299

Transfer taxes

5,109

1,085

Legal fees and expenses

2,984

1,680

Multi-tenant spin off

2,321

Other fees and expenses

1,330

2,865

Personnel costs and other reimbursements

751

384

Other non-routine costs:

Subordinated distribution fees

78,244

98,360

Post-transaction support services

14,251

2,000

Furniture, fixtures and equipment

14,085

5,800

Legal fees and expenses

1,826

950

Personnel costs and other reimbursement

2,443

Other fees and expenses

4,339

145

Total

160,298

123,568

Due from Affiliates

The Company receives or may be entitled to receive compensation and reimbursement for services primarily relating to the Managed REITs’ offerings and the investment, management, financing and disposition of their respective assets. Refer to Note 20 — Related Party Transactions and Arrangements (As Restated) for further explanation.

Reportable Segments

The Company has concluded that it has two reportable segments as it has organized its operations into two segments for management and internal financial reporting purposes, Real Estate Investment and Cole Capital. The identification and aggregation of reportable segments requires the Company’s management to exercise certain judgments. Refer to Note 5 — Segment Reporting (As Restated) for further information.

Revenue Recognition - Cole Capital

Revenue consists of securities sales commissions and dealer manager fees, real estate acquisition fees, property management fees, advisory fees, asset management fees and performance fees for services relating to the Managed REITs’ offerings and the investment and management of their respective assets, in accordance with the respective advisory and dealer manager agreements. The Company records revenue related to acquisition fees, securities sales commissions and dealer manager fees upon completion of a transaction and advisory, asset and property management fees as services are performed. The Company is also reimbursed for certain costs incurred in providing these services. Securities sales commission and dealer manager reimbursements are recorded as revenue as the expenses are incurred. Other reimbursements are recorded as revenue when reimbursements are reasonably assured.

Income Taxes

The Company currently qualifies and has elected to be taxed as a REIT for federal income tax purposes under Sections 856 through 860 of the Internal Revenue Code. As a REIT, except as discussed below, the Company generally is not subject to federal income tax on taxable income that it distributes to its stockholders so long as it distributes at least 90% of its annual taxable income (computed without regard to the dividends paid deduction and excluding net capital gains). REITs are subject to a number of other organizational and operational requirements. Even if the Company maintains its qualification for taxation as a REIT, it may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income.

The Company conducts substantially all of its Cole Capital business operations through a taxable REIT subsidiary (“TRS”). A TRS is a subsidiary of a REIT that is subject to corporate federal, state and local income taxes, as applicable. The Company’s use of a TRS enables it to engage in certain business activities while complying with the REIT qualification requirements and to retain any income generated by these businesses for reinvestment without the requirement to distribute those earnings. The Company conducts all of its business in the United States, and as a result, the Company files income tax returns in the U.S. federal jurisdiction and various state and local jurisdictions. Certain of the Company’s inter-company transactions that have been eliminated in consolidation for financial accounting purposes are also subject to taxation.

The Company provides for income taxes in accordance with current authoritative accounting and tax guidance. The tax expense or benefit related to significant, unusual or extraordinary items is recognized in the quarter in which those items occur. In addition, the effect of changes in enacted tax laws, rates or tax status is recognized in the quarter in which the change occurs. The accounting estimates used to compute the provision for income taxes may change as new events occur, additional information is obtained or the tax environment changes.

Repurchase Agreements

In certain circumstances the Company may obtain financing through a repurchase agreement. The Company evaluates the initial transfer of a financial instrument and the related repurchase agreement for sale accounting treatment. In instances where the Company maintains effective control over the transferred securities, the Company accounts for the transaction as a secured borrowing, and accordingly, both the securities and related repurchase agreement payable are recorded separately in the accompanying consolidated balance sheets in investment securities, at fair value and other debt, net, respectively. In instances where the Company does not maintain effective control over the transferred securities, the Company accounts for the transaction as a sale of securities for proceeds consisting of cash and a forward purchase contract.

Recent Accounting Pronouncements

In April 2014, the U.S. Financial Accounting Standards Board issued Accounting Standards Update, 2014-08 Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”), which amends the reporting requirements for discontinued operations by updating the definition of a discontinued operation to be a component of an entity that represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results, resulting in fewer disposals that qualify for discontinued operations reporting yet the pronouncement also requires expanded disclosures for discontinued operations. The Company adopted ASU 2014-08 effective January 1, 2014. Starting with the first quarter of 2014, the results of operations for all qualifying disposals and properties classified as held for sale that were not previously reported in discontinued operations in the Amended 10-K for the year ended December 31, 2013 will be presented within income from continuing operations on the accompanying consolidated statements of income.

Acquisitions_of_CapLease_and_C

Acquisitions of CapLease and Cole (As Restated)	3 Months Ended
Acquisitions of CapLease and Cole (As Restated)	Mar. 31, 2014
Business Combinations [Abstract]
Acquisitions of CapLease and Cole (As Restated)	Note 5 — Acquisitions of CapLease and Cole (As Restated)
	CapLease Acquisition
	On November 5, 2013 (the “CapLease Acquisition Date”), the Company completed the CapLease Merger, an acquisition of a real estate investment trust that primarily owned and managed a diversified portfolio of single tenant commercial real estate properties subject to long-term leases, the majority of which were net leases, to high credit quality tenants, by acquiring 100% of the outstanding common stock and voting interests of CapLease. The acquisition was accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations. The Company’s consolidated financial statements include the results of operations of CapLease subsequent to the CapLease Acquisition Date.
	The purchase price includes a cash payment of $920.7 million, which was funded by the Company through additional borrowings under its revolving credit facility and the credit facility assumed from CapLease. See Note 13 — Other Debt and Note 14 — Credit Facilities.
	The purchase price allocation for the CapLease Merger is considered preliminary, and additional adjustments may be recorded during the measurement period in accordance with U.S. GAAP. The purchase price allocation will be finalized as the Company receives additional information relevant to the acquisition, including a final valuation of the assets purchased and liabilities assumed.

	The preliminary purchase price for the acquisition was allocated to assets acquired and liabilities assumed based on their estimated fair value and reflects a goodwill adjustment identified in the Amended 10-K in Note 2 — Restatement of Previously Issued Financial Statements. The following table presents the allocation of the purchase price to the estimated fair value of the assets acquired and liabilities assumed at the CapLease Acquisition Date (in thousands):


			As of the CapLease
			Acquisition Date (1)
	Fair value of consideration given		$	920,697

	Assets purchased, at fair value:
	Land		$	235,843
	Buildings, fixtures and improvements			1,596,481
	Land and construction in process			12,352
	Acquired intangible lease assets			191,964

	Total real estate investments			2,036,640

	Cash and cash equivalents			41,799
	Investment securities			60,730
	Loans held for investment			26,457
	Restricted cash			29,119
	Deferred costs and other assets, net			21,574

	Total identifiable assets purchased			2,216,319

	Liabilities assumed, at fair value:
	Mortgage notes payable			1,037,510
	Secured credit facility			121,000
	Other debt			114,208
	Below-market leases			57,058
	Derivative liabilities			158
	Accounts payable and accrued expenses			49,291
	Deferred rent, derivative and other liabilities			8,619

	Total liabilities assumed			1,387,844

	Non-controlling interest retained by third party			567

	Net identifiable assets acquired by Company			827,908

	Goodwill		$	92,789


	-1	As reported in the Amended 10-K.
	Management is in the process of further evaluating the purchase price accounting. The fair value of real estate investments and below-market leases have been estimated by the Company with the assistance of third party valuation firms. Based on a preliminary analysis received to date, the estimated fair value of these assets and liabilities total $2.0 billion and $57.1 million, respectively. The recorded values represent the estimated fair values related to such assets and liabilities. Upon completion of the analysis, including a review of the appraisals and assessment of current market rates, changes to the estimated fair values may result. Such post-closing adjustments are customary in nature in accordance with ASC 805, Business Combinations.
	The ascribed value of the non-controlling interest has been estimated based on the fair value of the percentage ownership of The Woodlands, Texas development activity not held by the Company. See Note 7 — Real Estate Investments (As Restated).
	The fair value of the remaining CapLease assets and liabilities have been calculated in accordance with the Company’s policy on purchase price allocation, as disclosed in the Amended 10-K for the year ended December 31, 2013.
	Goodwill of approximately $92.8 million is expected to be assigned to the REI segment upon completion of the valuation. The goodwill recognized is attributed to the enhancement of the Company’s year-round rental revenue stream, expected synergies and the assembled work force at CapLease.
	The pro forma consolidated statements of operations in Note 7 — Real Estate Investments (As Restated) are presented as if CapLease had been included in the consolidated results of the Company for the entire periods ended March 31, 2014 and 2013.

	Cole Acquisition
	On February 7, 2014, the Company completed its acquisition of Cole, as discussed in Note 3 — Mergers and Acquisitions (As Restated). The Company accounted for the Cole Merger as a business combination under the acquisition method of accounting. Therefore, the Company’s consolidated financial statements include the results of operations of Cole subsequent to the Cole Acquisition Date.
	Fair Value of Consideration Transferred
	The Company is in the process of gathering certain additional information in order to finalize its assessment of the fair value of the consideration transferred; thus, the fair values of currently recorded assets and liabilities are subject to change. The estimated fair value of the consideration transferred at the Cole Acquisition Date totaled approximately $7.5 billion and consisted of the following (in thousands):


			As of Cole Acquisition
			Date (Preliminary)
	Estimated Fair Value of Consideration Transferred:
	Cash		$	181,775
Common stock			7,285,868

Total consideration transferred		$	7,467,643

The fair value of the 520.8 million shares of common stock issued, excluding those common shares transferred to former Cole executives, was determined based on the closing market price of the Company’s common stock on the Cole Acquisition Date.
Allocation of Consideration
The consideration transferred pursuant to the Cole Merger Agreement was allocated to the assets acquired and liabilities assumed for the REI segment and Cole Capital, based upon their preliminary estimated fair values as of the Cole Acquisition Date. The Company is in the process of gathering certain additional information in order to finalize its assessment of the fair value of certain intangible assets; thus, the provisional measurements of intangible assets and goodwill are subject to change. Such post-closing adjustments are customary in nature in accordance with ASC 805, Business Combinations. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed by segment at the Cole Acquisition Date (in thousands):


		Preliminary
		REI Segment			Cole Capital		Total as of Cole
		REI Segment			Cole Capital		Acquisition Date
Identifiable Assets Acquired at Fair Value:
Land		$	1,737,839		$	—	$	1,737,839
Buildings, fixtures and improvements			5,901,827			—		5,901,827
Intangible lease assets			1,324,217			—		1,324,217

Total real estate investments			8,963,883			—		8,963,883
Investment in unconsolidated entities			100,659			3,307		103,966
Investment securities			151,197			—		151,197
Loans held for investment			72,326			—		72,326
Cash and cash equivalents			129,552			20,413		149,965
Restricted cash			15,704			—		15,704
Intangible assets			—			385,368		385,368
Deferred costs and other assets			43,774			50,893		94,667
Due from affiliates			—			3,301		3,301

Total identifiable assets acquired			9,477,095			463,282		9,940,377

Identifiable Liabilities Assumed at Fair Value:
Mortgage notes payable			2,706,585			—		2,706,585
Credit facilities			1,309,000			—		1,309,000
Other debt			49,013			—		49,013
Below-market lease liabilities			212,433			—		212,433
Accounts payable and accrued expenses			87,628			54,615		142,243
Deferred rent, derivative and other liabilities			67,841			167,458		235,299
Dividends payable			6,271			—		6,271
Due to affiliates			—			44		44

Total liabilities assumed			4,438,771			222,117		4,660,888

Non-controlling interests			24,766			—		24,766

Net identifiable assets acquired			5,013,558			241,165		5,254,723
Goodwill			1,654,085			558,835		2,212,920

Net assets acquired		$	6,667,643		$	800,000	$	7,467,643

The fair value of real estate investments and below-market lease liabilities allocated to the REI segment have been estimated by the Company with the assistance of a third party valuation firm. Based on a preliminary analysis received to date, the estimated fair value of these assets and liabilities total $9.0 billion and $212.4 million, respectively. The recorded values represent the estimated fair values related to such assets and liabilities. Upon completion of the analysis, including a review of the appraisals and assessment of current market rates, changes to the estimated fair values may result.
The intangible assets acquired primarily consist of management and advisory contracts that the Company has with the Managed REITs and are subject to an estimated useful life of approximately four years. The Company recorded $14.0 million of amortization expense for the period from the Cole Acquisition Date to March 31, 2014. The estimated amortization expense for the remainder of the year ending December 31, 2014 is $72.6 million. The estimated amortization expense for each of the years ending December 31, 2015, 2016 and 2017 is $96.3 million and the estimated amortization expense for the year ending December 31, 2018 is $9.8 million.
Goodwill of approximately $1.7 billion is expected to be assigned to the REI segment upon completion of the external valuation. The goodwill recognized is attributed to the enhancement of the Company’s year-round rental revenue stream, realized and expected synergies, the impact of the merger on lowering the Company’s cost of capital, as well as the benefits of critical mass, improved portfolio diversification and enhanced access to capital markets. Goodwill of approximately $558.8 million is expected to be assigned to Cole Capital upon completion of the external valuation. The goodwill is primarily supported by management’s belief that Cole Capital brings an established management platform with numerous strategic benefits including growth from new income streams and the ability to offer new products. None of the goodwill is expected to be deductible for income tax purposes.
The fair value of the remaining Cole assets and liabilities have been calculated in accordance with the Company’s policy on purchase price allocation, as disclosed in the Amended 10-K for the year ended December 31, 2013.

The amounts of revenue and net income related to Cole property acquisitions and Cole Capital included in the accompanying consolidated statements of operations from the Cole Acquisition Date to the period ended March 31, 2014 was $162.6 million and $0.7 million respectively.
The pro forma consolidated statements of operations in Note 7 — Real Estate Investments (As Restated) are presented as if Cole had been included in the consolidated results of the Company for the entire periods ended March 31, 2014 and 2013.

Segment_Reporting_As_Restated

Segment Reporting (As Restated)	3 Months Ended
Segment Reporting (As Restated)	Mar. 31, 2014
Segment Reporting [Abstract]
Segment Reporting (As Restated)	Note 6 — Segment Reporting (As Restated)
	The Company operates under two segments, REI and Cole Capital.
	REI – Through its REI segment, the Company acquires, owns and operates a diverse portfolio of core commercial real estate investments primarily consisting of single-tenant, freestanding commercial real estate properties. The Company focuses on investing in properties that are net leased to credit tenants, which are generally large public companies with investment-grade ratings and other creditworthy tenants. The Company’s long-term business strategy is to acquire a diverse portfolio consisting of approximately 70.0% long-term leases and 30.0% medium-term, with an average portfolio remaining primary lease term of approximately 10 to 12 years. The Company considers properties that are leased on a “medium-term” basis to mean properties originally leased long-term (10 years or longer) that currently have a primary remaining lease duration of generally three to eight years, on average. The Company expects this investment strategy to provide for stable income from credit tenants and to provide for growth opportunities from re-leasing of current below market leases. As of March 31, 2014, the Company owned 3,809 properties comprising 101.8 million square feet of single and multi-tenant retail and commercial space located in 49 states, which include properties owned through consolidated joint ventures. As of March 31, 2014, the rentable space at these properties was 98.9% leased with a weighted average remaining lease term of 10.2 years. As of March 31, 2014, the Company also owned 25 commercial mortgage-backed securities (“CMBS”), 14 loans held for investment and, through the Unconsolidated Joint Ventures, had interests in six properties comprising 1.6 million rentable square feet of commercial and retail space.
	Cole Capital – Cole Capital is contractually responsible for managing the Managed REITs’ affairs on a day-to-day basis, identifying and making acquisitions and investments on the Managed REITs’ behalf, and recommending to each of the Managed REIT’s respective board of directors an approach for providing investors with liquidity. Cole Capital serves as the dealer manager and distributes shares of common stock for certain Managed REITs and advises them regarding offerings, manages relationships with participating broker-dealers and financial advisors and provides assistance in connection with compliance matters relating to the offerings. Cole Capital receives compensation and reimbursement for services relating to the Managed REITs’ offerings and the investment, management, financing and disposition of their respective assets, as applicable. Cole Capital also develops new REIT offerings, including obtaining regulatory approvals from the SEC, the Financial Industry Regulatory Authority, Inc. (“FINRA”) and various jurisdictions for such offerings.

	The Company allocates certain operating expenses, such as audit and legal fees, board of director fees, employee related costs and benefits and general overhead expenses between its two segments. The following tables present a summary of the comparative financial results and total assets for each business segment (in thousands):


			Three Months Ended March 31,
			2014				2013
			(As Restated)				(As Restated)
	REI:
	Rental income		$	244,415			$	40,987
	Direct financing lease income			1,006				—
	Operating expense reimbursements			21,476				1,910

	Total real estate investment revenues			266,897				42,897

	Acquisition related			13,417				10,327
	Merger and other non-routine transactions			159,794				123,568
	Property operating expenses			29,755				2,549
	Management fees to affiliates			13,888				12,493
	General and administrative expenses			35,661				7,772
	Depreciation and amortization			159,483				26,753

	Total operating expenses			411,998				183,462

	Operating loss			(145,101	)			(140,565	)

	Interest expense, net			(120,951	)			(6,801	)
	Extinguishment of debt			(9,399	)			—
	Other income, net			3,959				999
	Loss on derivative instruments, net			(7,121	)			(5	)
	Loss on disposition of properties, net			(17,605	)			—
	Gain on sale of investments			—				451

	Total other expenses, net			(151,117	)			(5,356	)

	Net loss from continuing operations			(296,218	)			(145,921	)

	Discontinued operations:
	Loss from operations of held for sale properties			—				(16	)
	Gain on held for sale properties			—				—

	Net loss from discontinued operations			—				(16	)

	Net loss		$	(296,218	)		$	(145,937	)

	Cole Capital:
	Dealer manager and distribution fees, selling commissions and offering reimbursements		$	42,453			$	—
	Transaction service fees			4,559				—
	Management fees and reimbursements			7,245				—

	Total Cole Capital revenues			54,257				—

	Cole Capital reallowed fees and commissions			34,436				—
	Merger and other non-routine transactions			504				—
	General and administrative expenses			20,831				—
	Depreciation and amortization			14,359				—

	Total operating expenses			70,130				—

	Total other income			6,251				—

Net loss from continuing operations		$	(9,622	)		$	—

Total Company
Total revenues		$	321,154			$	42,897
Total operating expenses			482,128				183,462
Total other expense			(144,866	)			(5,356	)
Loss from continuing operations			(305,840	)			(145,921	)
Loss from discontinued operations			—				(16	)

Net loss		$	(305,840	)		$	(145,937	)


		Total Assets
		March 31, 2014				December 31, 2013
		(As Restated)				(As Restated)
Real Estate Investment		$	19,487,003			$	7,809,083
Cole Capital			1,001,092				—

Total Company		$	20,488,095			$	7,809,083

Real_Estate_Investments_As_Res

Real Estate Investments (As Restated)	3 Months Ended
Real Estate Investments (As Restated)	Mar. 31, 2014
Real Estate [Abstract]
Real Estate Investments (As Restated)	Note 7 — Real Estate Investments (As Restated)
	Excluding the Cole Merger and the ARCT IV Merger, the Company acquired interests in 215 commercial properties, including five land parcels, for an aggregate purchase price of $936.1 million during the three months ended March 31, 2014 (the “2014 Acquisitions”). The Company is in the process of obtaining and reviewing the final third party appraisals for the 2014 Acquisitions, as such, the fair value of the related assets acquired and liabilities assumed during the three months ended March 31, 2014 are provisionally allocated. The following table presents the allocation of the fair value of the assets acquired and liabilities assumed during the periods presented (dollar amounts in thousands):


			Three Months Ended March 31,
			2014				2013
	Real estate investments, at cost:
	Land		$	133,903			$	74,700
	Buildings, fixtures and improvements			694,935				291,664

	Total tangible assets			828,838				366,364

	Acquired intangible assets:
	In-place leases			120,421				45,223
	Above-market leases			11,559				—
	Assumed intangible liabilities:
	Below-market leases			(1,156	)			—
	Fair value adjustment of assumed notes payable			(23,589	)			—

	Total purchase price of assets acquired, net			936,073				411,587

	Notes payable assumed			(301,532	)			—
	Cash paid for acquired real estate investments		$	634,541			$	411,587

	Number of properties acquired			215				112

	The following table presents unaudited pro forma information as if all of the 2014 Acquisitions and the Cole Merger and ARCT IV Merger, as discussed in Note 3 — Mergers and Acquisitions (As Restated), were completed on January 1, 2013 for each period presented below. These amounts have been calculated after applying the Company’s accounting policies and adjusting the results of acquisitions to reflect the additional depreciation and amortization and interest expense that would have been charged had the acquisitions occurred on January 1, 2013. Additionally, the unaudited pro forma net loss attributable to stockholders was adjusted to exclude acquisition related expenses of $13.4 million and $10.3 million for the three months ended March 31, 2014 and 2013, respectively and merger and other non-routine transaction related expenses of $160.3 million and $123.6 million for the three months ended March 31, 2014 and 2013, respectively. These costs were recognized in the pro forma information for the three months ended March 31, 2013 (in thousands):


			Three Months Ended March 31,
			2014				2013
			As Restated				As Restated
	Pro forma revenues		$	414,320			$	44,330
	Pro forma net income attributable to stockholders		$	(2,937	)		$	3,146

	Future Lease Payments
	The following table presents future minimum base rental cash payments 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				Future Minimum
			Operating Lease				Direct Financing
			Base Rent Payments				Lease Payments (1)
	April 1, 2014 - December 31, 2014		$	921,815			$	3,802
	2015			1,152,446				4,757
	2016			1,127,440				4,674
	2017			1,075,967				4,273
	2018			1,021,150				3,183
	Thereafter			7,251,560				10,052

	Total		$	12,550,378			$	30,741


	-1	47 properties are subject to direct financing leases and, therefore, revenue is recognized as direct financing lease income on the discounted cash flows of the lease payments. Amounts reflected are the cash rent on these respective properties.
	Net Investment in Direct Financing Leases
	The components of the Company’s net investment in direct financing leases as of March 31, 2014 and December 31, 2013 are as follows (in thousands):


			March 31, 2014				December 31, 2013
	Future minimum lease payments receivable		$	31,001			$	33,729
	Unguaranteed residual value of property			47,089				46,172
	Unearned income			(12,367	)			(13,789	)

	Net investment in direct financing leases		$	65,723			$	66,112

Development Activities
During the three months ended March 31, 2014, the Company acquired five land parcels, upon which single-tenant commercial properties will be developed. Based on budgeted construction costs, the remaining costs to complete the buildings is estimated to be $7.9 million in aggregate. The land acquired for an aggregate amount of $4.6 million is included in land in the accompanying consolidated balance sheet. In addition, during the three months ended March 31, 2014, the Company substantially completed the development of a 450,000 square foot distribution warehouse in Columbia, South Carolina. The build-to-suit project has an estimated total investment of $22.0 million. As of March 31, 2014, the Company had a total investment of $20.1 million, including capitalized interest of $37,000, and estimated remaining investment of $1.9 million related to the development project.

Prior to the CapLease Acquisition Date, CapLease entered into an agreement with a major Texas-based developer to develop a 150,000 square foot speculative office building in The Woodlands, Texas, adjacent to and part of the same development as an existing office building owned by CapLease since 2012. Costs of the project, which are budgeted to be $34.0 million, are scheduled to be funded by equity contributions from the Company and its developer partner, and $17.0 million of advances during the construction period under a development loan entered into with Amegy Bank. All equity contributions are scheduled to be borne as follows: the Company, 90%; and the developer, 10%; except for cost overruns, which will be borne 50% by each. Because the Company has a controlling financial interest in the investment, it consolidates the investment for financial accounting purposes. The Company has an option to purchase, and the developer the option to sell to the Company, in each case at fair market value, the developer’s interest in the project upon (i) substantial completion of the project and (ii) leases being entered into for 95% of the square footage of the project. Construction activity and funding of the project commenced during the quarter ended September 30, 2013 and was expected to be completed during the second half of 2014. As of March 31, 2014, the Company had a total investment of $12.3 million, including capitalized interest of $45,000, and estimated remaining investment of $21.7 million related to the development project.
Tenant Concentration
The following table lists the tenants of the Company whose annualized rental income, determined on a straight-line basis, represented greater than 10% of consolidated annualized rental income as of March 31, 2013. Annualized rental income for net leases is rental income as of the period reported, which includes the effect of tenant concessions such as free rent, as applicable. There were no tenants exceeding 10% of consolidated annualized rental income March 31, 2014.


		March 31,
Tenant		2014				2013
Walgreens			15.6	%			*
Dollar General			*				12	%
Citizens Bank			*				12	%

*	The tenants’ annualized rental income was not greater than 10% of total consolidated annualized rental income for all portfolio properties as of the period specified.
No other tenant represents more than 10% of total consolidated annualized rental income for the periods presented.
Geographic Concentration
As of March 31, 2014, properties located in Texas represented 12.1% of consolidated annualized rental income determined on a straight-line basis. There were no geographic concentrations exceeding 10% of consolidated annualized rental income at March 31, 2013.

Investment_Securities_at_Fair_

Investment Securities, at Fair Value	3 Months Ended
Investment Securities, at Fair Value	Mar. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Investment Securities, at Fair Value	Note 8 — Investment Securities, at Fair Value
	Investment securities are considered available-for-sale and, therefore, increases or decreases in the fair value of these investments are recorded in accumulated other comprehensive income (loss) as a component of equity on the consolidated balance sheets unless the securities are considered to be other than temporarily impaired at which time the losses are reclassified to expense.

	The following tables detail the unrealized gains and losses on investment securities as of March 31, 2014 and December 31, 2013 (in thousands):


		March 31, 2014
		Amortized Cost		Gross Unrealized		Gross Unrealized			Fair Value
		Amortized Cost		Gains		Losses			Fair Value
	Investments in real estate fund	$	1,605	$	43	$	—		$	1,648
	CMBS		209,076		3,546		(467	)		212,155

	Total	$	210,681	$	3,589	$	(467	)	$	213,803


		December 31, 2013
		Amortized Cost		Gross Unrealized		Gross Unrealized			Fair Value
		Amortized Cost		Gains		Losses			Fair Value
	Investments in real estate fund	$	1,589	$	—	$	(105	)	$	1,484
	CMBS		60,452		498		(367	)		60,583

	Total	$	62,041	$	498	$	(472	)	$	62,067

	CMBS
	In connection with the Cole Merger, the Company acquired 15 CMBS with an estimated aggregate fair value of $151.2 million as of the Cole Acquisition Date. As of March 31, 2014, the Company owned 25 CMBS with an estimated aggregate fair value of $212.2 million. As of March 31, 2014, certain of these securities were pledged as collateral under repurchase agreements (the “Repurchase Agreements”), as discussed in Note 13 — Other Debt. As of December 31, 2013, the Company owned 10 CMBS with an estimated aggregate fair value of $60.6 million.
	As of March 31, 2014, the fair value of six CMBS were below their amortized cost. The Company evaluated each of the securities for other-than-temporary impairment at March 31, 2014, and determined that no other-than-temporary impairment charges on its securities were appropriate. The Company believes that none of the unrealized losses on investment securities are other-than-temporary because management expects the Company will receive all contractual principal and interest related to these investments. In addition, the Company did not have the intent to sell the securities or believe it would be required to sell them as of March 31, 2014.
	The scheduled maturity of the Company’s CMBS as of March 31, 2014 is as follows (in thousands):


		March 31, 2014
		Amortized Cost		Fair Value
	Due within one year	$	—	$	—
	Due after one year through five years		1,325		1,348
	Due after five years through 10 years		178,885		181,055
	Due after 10 years		28,866		29,752

		$	209,076	$	212,155

	Investment in Real Estate Fund
	As of March 31, 2014, the Company had investments in a real estate fund that is sponsored by an affiliate of the Former Manager of the Company and which invests primarily in equity securities of other publicly traded REITs.

Loans_Held_for_Investment

Loans Held for Investment	3 Months Ended
Loans Held for Investment	Mar. 31, 2014
Receivables [Abstract]
Loans Held for Investment	Note 9 — Loans Held for Investment
	During the three months ended March 31, 2014, in connection with the Cole Merger, the Company acquired two mortgage notes receivable, each of which is secured by an office building. The mortgage notes had a fair value of $72.3 million as of the Cole Acquisition Date. As of December 31, 2013, the Company owned 12 loans held for investment, which were acquired in connection with the CapLease Merger and consist predominantly of mortgage loans on properties subject to leases to investment grade tenants. The loans had a fair value of $26.5 million at the CapLease Merger Date. At March 31, 2014, the Company owned 14 loans held for investment, which had a carrying value of $98.2 million and carried interest rates ranging from 5.28% to 7.24%. As of December 31, 2013, the loans held for investment had a carrying value of $26.3 million and carried interest rates ranging from 5.28% to 7.24%. The fair value adjustment is being amortized to interest expense in the consolidated statements of operations over the lives of the secured terms.
	The Company’s loan portfolio is comprised primarily of fully amortizing or nearly fully amortizing first mortgage loans on commercial real estate leased to a single tenant. Payments of debt service on the Company’s loans is, in substantially all cases, funded directly by rent payments paid into a lockbox account by the underlying tenant. Therefore, the Company’s monitoring of the credit quality of its loans held for investment is focused primarily on an analysis of the tenant, including review of tenant credit ratings (including changes in ratings) and other measures of tenant credit quality, trends in the tenant’s industry and general economic conditions and an analysis of measures of collateral coverage, such as an estimate of the loan’s loan-to-value (“LTV”) ratio (principal amount outstanding divided by estimated value of the property) and its remaining term until maturity. As of March 31, 2014 and December 31, 2013, the Company had no reserve for loan loss.

Deferred_Costs_and_Other_Asset

Deferred Costs and Other Assets, Net	3 Months Ended
Deferred Costs and Other Assets, Net	Mar. 31, 2014
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Costs and Other Assets, Net	Note 10 — Deferred Costs and Other Assets, Net (As Restated)
	Deferred costs and other assets, net consisted of the following as of March 31, 2014 and December 31, 2013 (amounts in thousands):


			March 31, 2014		December 31, 2013
			(As Restated)		(As Restated)
	Deferred costs, net		$	128,992	$	84,746
	Accounts receivable, net (1)			54,664		16,254
	Straight-line rent receivable			26,505		19,010
	Prepaid expenses			21,502		43,801
	Leasehold improvements, property and equipment, net (2)			20,920		531
	Restricted escrow deposits			19,154		101,813
	Derivative assets, at fair value			9,829		9,189
	Other assets			22,531		5,982

			$	304,097	$	281,326


	-1	Allowance for doubtful accounts was $1.0 million and $187,000 as of March 31, 2014 and December 31, 2013, respectively.
	-2	Amortization expense for leasehold improvements totaled $172,000 for the three months ended March 31, 2014. Accumulated amortization was $178,000 and $7,000 as of March 31, 2014 and December 31, 2013, respectively. Depreciation expense for property and equipment totaled $217,000 for the three months ended March 31, 2014. Accumulated depreciation was $222,000 and $5,000 as of March 31, 2014 and December 31, 2013, respectively.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	3 Months Ended
Fair Value of Financial Instruments	Mar. 31, 2014
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 11 — 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. 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 infrequent.
	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, 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. As of March 31, 2014, the Company’s interest rate cap derivative measured at fair value on a recurring basis was zero and was classified in Level 2 of the fair value hierarchy.
	During the year ended December 31, 2013, real estate assets with carrying amounts of $4.5 million related to two properties were deemed to be impaired and their carrying amounts were reduced to their estimated fair value, resulting in an impairment charge of $3.3 million. No impairments of real estate assets were recorded during the three months ended March 31, 2014 or 2013, respectively.
	The Company’s estimated fair values of its real estate assets were primarily based upon an income approach utilizing a present value technique to discount the expected cash flows using market participant assumptions for market rent and terminal values, which are considered to be Level 3 inputs, or based upon recent comparable sales transactions, which are considered to be Level 2 inputs. The aggregate fair value of impaired real estate assets as of December 31, 2013 was $1.2 million.
	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 in				Significant Other				Significant				Balance as of
			Active Markets				Observable Inputs				Unobservable Inputs				March 31, 2014
			Level 1				Level 2				Level 3
	Assets:
	Investments in real estate fund		$	—			$	1,648			$	—			$	1,648
	CMBS			—				—				212,155				212,155
	Interest rate swap assets			—				9,829				—				9,829

	Total assets		$	—			$	11,477			$	212,155			$	223,632

	Liabilities:
	Interest rate swap liabilities		$	—			$	(8,737	)		$	—			$	(8,737	)
	Series D Preferred Stock embedded derivative			—				—				(26,734	)			(26,734	)
	Contingent consideration arrangements			—				—				(4,903	)			(4,903	)

	Total liabilities		$	—			$	(8,737	)		$	(31,637	)		$	(40,374	)


			Quoted Prices				Significant Other				Significant				Balance as of
			in Active Markets				Observable Inputs				Unobservable Inputs				December 31, 2013
			Level 1				Level 2				Level 3
	Assets:
	Investments in real estate fund		$	—			$	1,484			$	—			$	1,484
	CMBS			—				—				60,583				60,583
	Interest rate swap assets			—				9,189				—				9,189

	Total assets		$	—			$	10,673			$	60,583			$	71,256

	Liabilities:
	Interest rate swap liabilities		$	—			$	(1,719	)		$	—			$	(1,719	)
	Series D Preferred Stock embedded derivative			—				—				(16,736	)			(16,736	)

	Total liabilities		$	—			$	(1,719	)		$	(16,736	)		$	(18,455	)

	Investments in real estate fund — The fair value of the Company’s investments in real estate fund are based published pricing.
	CMBS — The fair values of the Company’s CMBS are valued using broker quotations, collateral values, subordination levels and liquidity of the individual securities.
	Derivatives — 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.
	Series D Preferred Stock embedded derivative — The valuation of this derivative instrument is determined using a binomial option pricing model. Key inputs in the model include the expected term, risk-free interest rate, volatility and dividend yield.
	Contingent Consideration Arrangements — The contingent consideration arrangements are carried at fair value and are valued using Level 3 inputs. The fair value of the contingent payments related to property acquisitions is determined based on the estimated timing and probability of successfully leasing vacant space subsequent to the Company’s acquisition of certain properties. The estimated fair value of the property-related contingent consideration arrangements totaled $4.9 million as of March 31, 2014 and is included in the accompanying consolidated balance sheet in deferred rent, derivative and other liabilities. There were no property related contingent consideration arrangements as of December 31, 2013.
	The fair value of short-term financial instruments such as cash and cash equivalents, restricted cash, due to affiliates and accounts payable approximate their carrying value on the accompanying consolidated balance sheets due to their short-term nature and are classified as Level 1 under the fair value hierarchy.
	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 or Level 3 of the fair value hierarchy during the three months ended March 31, 2014.

	The following is a reconciliation of the beginning and ending balance for the changes in instruments with Level 3 inputs in the fair value hierarchy for the three months ended March 31, 2014 (in thousands):


			CMBS				Series D				Contingent				Total
							Preferred Stock				Consideration
							Embedded				Arrangements
							Derivative
	Beginning Balance as of December 31, 2013		$	60,583			$	(16,736	)		$	—			$	43,847
	Total gains and losses:
Unrealized gain included in other comprehensive income, net			2,948				—				—				2,948
Changes in fair value included in net income, net			—				(9,998	)			(1,297	)			(11,295	)
Purchases, issuances, settlements and amortization:
Purchases/issuances			151,197				—				(3,606	)			147,591
Amortization included in net income, net			(2,573	)		$	—				—				(2,573	)

Ending balance as of March 31, 2014		$	212,155			$	(26,734	)		$	(4,903	)		$	180,518

The fair values of the Company’s financial instruments that are not reported at fair value on the consolidated balance sheets are reported below (dollar amounts in thousands):


		Level		Carrying Amount at				Fair Value at				Carrying Amount at				Fair Value at
		Level		March 31, 2014				March 31, 2014				December 31, 2013				December 31, 2013
Assets:
Loans held for investment		3		$	98,185			$	98,652			$	26,279			$	26,435

Liabilities:
Mortgage notes payable, net		3		$	4,234,074			$	4,265,230			$	1,301,114			$	1,305,823
Corporate bonds, net		3			2,545,884				2,545,884				—				—
Convertible debt, net		3			973,737				976,629				972,490				976,629
Senior corporate credit facility		3			2,265,800				2,265,800				1,819,800				1,819,800
Secured term loan		3			53,958				54,035				58,979				59,049
Trust preferred notes		3			26,563				23,485				26,548				23,345
Unsecured credit facility		3			150,000				150,000				150,000				150,000
Other debt		3			68,288				68,414				19,278				19,350

Total liabilities				$	10,318,304			$	10,349,477			$	4,348,209			$	4,353,996

Loans held for investment — The fair value of the Company’s fixed-rate loan portfolio is estimated with a discounted cash flow analysis, utilizing scheduled cash flows and discount rates estimated by management to approximate those that a willing buyer and seller might use.
Credit facilities — Management believes that the stated interest rates (which float based on short-term interest rates) approximate market rates. As such, the fair values of these obligations are estimated to be equal to the outstanding principal amounts.
Convertible notes, mortgage notes payable and secured term loan — The fair value of mortgages payable on real estate investments and the secured term loan is estimated by an independent third party using a discounted cash flow analysis, based on management’s estimates of market interest rates.
Trust preferred notes — The fair value of the Company’s other long-term debt is estimated using a discounted cash flow analysis, based on management’s estimates of market interest rates.

Mortgage_Notes_Payable

Mortgage Notes Payable	3 Months Ended
Mortgage Notes Payable	Mar. 31, 2014
Debt Disclosure [Abstract]
Mortgage Notes Payable	Note 12 — Mortgage Notes Payable
	The Company’s mortgage notes payable consist of the following as of March 31, 2014 and December 31, 2013 (dollar amounts in thousands):


			Encumbered		Outstanding Loan		Weighted Average			Weighted Average
			Properties		Amount		Effective Interest Rate (1)			Maturity (2)
	March 31, 2014			697	$	4,128,384		4.83	%		6.23
	December 31, 2013			177	$	1,258,661		3.42	%		3.41

	-1	Mortgage notes payable primarily have fixed rates or are fixed by way of interest rate swap arrangements. Effective interest rates range from 2.41% to 7.20% at March 31, 2014 and 1.83% to 6.28% at December 31, 2013.
	-2	Weighted average remaining years until maturity as of March 31, 2014 and December 31, 2013, respectively.
	In conjunction with the various mergers and portfolio acquisitions, as described in Note 3 — Mergers and Acquisitions (As Restated), aggregate net premiums totaling $137.4 million were recorded upon the assumption of the mortgages for above-market interest rates. Amortization of these net premiums is recorded as a reduction to interest expense over the remaining term of the respective mortgages using a method that approximates the effective-interest method. As of March 31, 2014, there was $106.3 million in unamortized net premiums included in mortgage notes payable, net on the consolidated balance sheets.
	The following table summarizes the scheduled aggregate principal repayments subsequent to March 31, 2014 (in thousands):


	Year		Total
	April 1, 2014 - December 31, 2014		$	134,152
	2015			202,578
	2016			242,769
	2017			567,950
	2018			252,923
	Thereafter			2,728,012

	Total		$	4,128,384

	The Company’s mortgage loan agreements generally require restrictions on corporate guarantees and the maintenance of financial covenants including maintenance of certain financial ratios (such as specified debt to equity and debt service coverage ratios). As of March 31, 2014, the Company was in compliance with the debt covenants under the mortgage loan agreements.
	During the three months ended March 31, 2014, the Company paid off $722.3 million of mortgage notes payable, including notes that were subject to interest rate swap agreements. In connection with the debt repayments, the Company paid prepayment fees totaling $29.0 million for the three months ended March 31, 2014, which are included in Extinguishment of debt, net in the accompanying consolidated statement of operations. In addition, the Company paid $10.1 million for the settlement of interest rate swaps that were associated with certain of the mortgage notes, which approximated the fair value of the interest rate swaps. The Company wrote off the deferred financing costs and net premiums associated with these mortgages, which resulted in gain of $19.6 million for the three months ended March 31, 2014, which is included in Extinguishment of debt, net in the accompanying consolidated statement of operations. The mortgages paid off during the three months ended March 31, 2014 had a weighted average remaining interest rate of 5.16% and a weighted average remaining term of 2.2 years.

Other_Debt

Other Debt	3 Months Ended
Other Debt	Mar. 31, 2014
Debt Disclosure [Abstract]
Other Debt	Note 13 — Other Debt
	Corporate Bond Offering
	On February 6, 2014, the OP issued, in a private offering, $2.55 billion aggregate principal amount of senior unsecured notes consisting of $1.3 billion aggregate principal amount of 2.00% senior notes due 2017 (the “2017 Notes”), $750.0 million aggregate principal amount of 3.00% senior notes due 2019 (the “2019 Notes”) and $500.0 million aggregate principal amount of 4.60% senior notes due 2024 (the “2024 Notes,” and, together with the 2017 Notes and 2019 Notes, the “Notes”). The Notes are guaranteed by the Company. The OP may redeem all or a part of any series of the Notes at any time at its option at the redemption prices set forth in the indenture governing the Notes, plus accrued and unpaid interest on the principal amount of the Notes of such series being redeemed to, but excluding, the applicable redemption date. With respect to the 2019 Notes and the 2024 Notes, if such Notes are redeemed on or after January 6, 2019, with respect to the 2019 Notes, or November 6, 2023, with respect to the 2024 Notes, the redemption price will equal 100% of the principal amount of the Notes of the applicable series to be redeemed, plus accrued and unpaid interest on the amount being redeemed to, but excluding, the applicable redemption date. In conjunction with this corporate bond offering, aggregate discounts totaling $4.2 million were recorded. As of March 31, 2014, the unamortized net discount totaled $4.1 million.
	Convertible Senior Note Offering
	On July 29, 2013, the Company issued $300.0 million of the Convertible Senior Notes due 2018 and, pursuant to an over-allotment exercise by the underwriters of such offering, issued an additional $10.0 million of its Convertible Senior Notes due 2018 on August 1, 2013 (collectively, the “Original 2018 Notes”). On December 10, 2013, the Company issued an additional $287.5 million of such notes through a reopening of the Original 2018 Notes indenture agreement (the “Reopened 2018 Notes,” together with the Original 2018 Notes, the “2018 Notes”). The 2018 Notes mature on August 1, 2018. The fair value of the Original 2018 Notes and Reopened 2018 Notes was determined at issuance to be $299.6 million and $282.1 million, respectively, resulting in a debt discount of $10.4 million and $5.4 million, respectively, with an offset recorded to additional paid-in capital representing the equity component of the notes for the conversion options. The discount is being amortized to interest expense over the expected lives of the 2018 Notes. As of March 31, 2014, the carrying value of the Original 2018 Notes and Reopened 2018 Notes was $301.0 million and $282.5 million, respectively. The holders may elect to convert the 2018 Notes into cash, common stock of the Company or a combination thereof, at the Company’s option, in limited circumstances prior to February 1, 2018 and may convert the 2018 Notes at any time into such consideration on or after February 1, 2018. The initial conversion rate is 59.805 shares of the Company’s common stock per $1,000 principal amount of 2018 Notes.
	On December 10, 2013, the Company issued $402.5 million of 3.75% Convertible Senior Notes due 2020 (the “2020 Notes”). The 2020 Notes mature on December 15, 2020. The fair value of the 2020 Notes was determined at issuance to be $389.7 million, resulting in a debt discount of $12.8 million with an offset recorded to additional paid-in capital representing the equity component of the notes for the conversion options. The discount is being amortized to interest expense over the expected life of the 2020 Notes. As of March 31, 2014, the carrying value of the 2020 Notes was $390.2 million. The holders may elect to convert the 2020 Notes into cash, common stock of the Company or a combination thereof, at the Company’s option, in limited circumstances prior to June 15, 2020 and may convert the 2020 Notes at any time into such consideration on or after June 15, 2020. The initial conversion rate is 66.0262 shares of the Company’s common stock per $1,000 principal amount of 2020 Notes.
	In connection with the 2018 Notes and 2020 Notes, the remaining unamortized discount totaled $26.3 million as of March 31, 2014.

	Trust Preferred Notes
	As part of the CapLease Merger, the Company assumed $30.9 million in aggregate principal amount of fixed/floating rate preferred notes with a fair value of $26.5 million at the CapLease Acquisition Date. The trust preferred securities represent an unsecured subordinated recourse debt obligation of the Company and require quarterly interest payments calculated at a fixed interest rate equal to 7.68% per annum through January 30, 2016, and subsequently at a variable interest rate equal to LIBOR plus 2.60% per annum. The notes must be redeemed on January 30, 2036, and may be redeemed, in whole or in part, at par, at the Company’s option, at any time. The discount recorded on the notes is being amortized to interest expense on the consolidated statements of operations over the life of the preferred notes. As of March 31, 2014, the carrying value of the preferred securities was $26.6 million, which is included in other debt in the accompanying consolidated balance sheets.
	Secured Term Loan
	As part of the CapLease Merger, the Company assumed a secured term loan with KBC Bank, N.V. with a principal balance of $59.8 million and a fair value of $60.7 million at the CapLease Acquisition Date. The interest coupon on the loan is fixed at 5.81% annually until the loan matures in January 2018. The loan is non-recourse to the Company, subject to limited non-recourse exceptions. During the three months ended March 31, 2014, the Company made principal payments of $4.9 million. The premium is being amortized to interest expense on the consolidated statements of operations over the life of the secured term loan. As of March 31, 2014, the carrying value of the secured term loan was $54.0 million, which is included in other debt in the accompanying consolidated balance sheets.
	Amounts related to the secured term loan as of March 31, 2014 were as follows (in thousands):


		Borrowings		Collateral Carrying
		Borrowings		Value
	Loans held for investment	$	13,802	$	22,197
	Intercompany mortgage loans on CapLease properties		7,291		19,117
	Commercial mortgage-backed securities		32,144		44,506

		$	53,237	$	85,820

	Other Debt
	As part of the CapLease Merger, the Company assumed $19.2 million of senior notes (the “Senior Notes”) that bear interest at an annual interest rate of 7.50%, payable semi-annually on April 1 and October 1, with a fair value of $19.3 million at the CapLease Acquisition Date. The Senior Notes mature on October 1, 2027. The Company has the right to redeem the Senior Notes in whole or in part for cash at any time or from time to time at a redemption price equal to 100% of the principal amount of the Senior Notes to be redeemed, plus any accrued and unpaid interest. Holders of the Senior Notes may require the Company to repurchase their Senior Notes, in whole or in part, on October 1, 2017 and October 1, 2022, for a cash price equal to 100% of the principal amount of the Senior Notes to be repurchased, plus any accrued and unpaid interest. The discount is being amortized to interest expense on the consolidated statements of operations over the life of the Senior Notes. As of March 31, 2014, the carrying value of the Senior Notes was $19.3 million, which is included in other debt in the accompanying consolidated balance sheets.
	In conjunction with the CapLease Merger, aggregate net discounts totaling $3.5 million were recorded upon assumption of the trust preferred notes, secured term loan and Senior Notes. As of March 31, 2014, unamortized net discounts were $3.6 million in unamortized net discounts included in other debt on the consolidated balance sheets.

	Future Minimum Repayments
	The following table summarizes the scheduled aggregate principal repayments subsequent to March 31, 2014 (in thousands):


		Principal Repayment
	April 1, 2014 - December 31, 2014	$	56,925
	2015		11,862
	2016		12,516
	2017		26,890
	2018		13,267
	Thereafter		30,930

		$	152,390

	Barclay’s Facility
	As of December 31, 2013, the Company had available commitments from Barclays Bank PLC, and other committed parties, for up to $2.1 billion in senior secured term loans (the “Barclays Facility”) in order to fund cash amounts payable in connection with the Cole Merger, which were subject to certain conditions, including the absence of a material adverse effect in respect of Cole, the negotiation of definitive documentation and pro forma compliance with financial covenants. Any other long-term debt obtained by the Company would have reduced the commitments under the Barclays Facility. The Barclays Facility contained an accordion feature to allow the Company, under certain circumstances, to increase commitments thereunder by up to $350.0 million.
	The Company could have elected to use the Barclays Facility to fund a portion of the consideration to be paid pursuant to the Cole Merger, to refinance existing indebtedness of Cole and to pay related fees and expenses. The commitments received in the Barclays Facility were schedule to terminate upon the occurrence of certain customary events, and in any event on April 22, 2014, which date may be extended by an additional three months under certain circumstances. The Barclays Facility was terminated upon the issuance of the senior unsecured notes in February 2014, as discussed above. In connection with the termination, the Company recorded $28.6 million as amortization of deferred financing costs associated with the Barclays Facility, which is included in interest expense, net in the accompanying consolidated statement of operations.
	Repurchase Agreements
	As part of the Cole Merger, the Company assumed $49.0 million of repurchase agreements secured by a portion of the Company’s CMBS portfolio. The Repurchase Agreements have interest rates ranging from LIBOR plus 1.35% to 1.75% and mature on various dates from May 2014 through June 2014. Upon maturity, the Company may elect to renew the Repurchase Agreements for 90 day periods until the CMBS mature. The CMBS have a weighted average remaining term of 7.93 years. Under the Repurchase Agreements, the lender retains the right to mark the underlying collateral to fair value. A reduction in the value of the pledged assets would require the Company to provide additional collateral to fund margin calls. As of March 31, 2014, the securities held as collateral had a fair value of $140.9 million and an amortized cost of $139.3 million. There was no cash collateral held by the counterparty as of March 31, 2014. The Repurchase Agreements are being accounted for as secured borrowings because the Company maintains effective control of the financed assets. The Repurchase Agreements are non-recourse to the Company and the OP and are included in other debt in the accompanying consolidated balance sheet.

Credit_Facilities

Credit Facilities	3 Months Ended
Credit Facilities	Mar. 31, 2014
Text Block [Abstract]
Credit Facilities	Note 14 — Credit Facilities
	Senior Corporate Credit Facility
	The Company and the OP are parties to a credit facility with Wells Fargo, National Association, as administrative agent and other lenders party thereto (the “Credit Facility”).

	On March 31, 2014, the Company entered into an augmenting lender supplemental to the Credit Facility to raise the commitments to $3.0 billion. At March 31, 2014, the Credit Facility contained a $940.0 million term loan facility and a $2.0 billion revolving credit facility, of which $940.0 million and $1.3 billion were outstanding, respectively. In February 2014, the Credit Facility was amended and certain modifications were made to the terms of the agreement. Loans under the Credit Facility are priced at an applicable rate, at the Company’s election, of either a floating interest rate based on one month LIBOR, determined on a daily basis, plus 2.25% to 3.00%, or a prime-based interest rate, based upon the Company’s current leverage. To the extent that the Company receives an investment grade credit rating as determined by a major credit rating agency, at the Company’s election, advances under the revolving credit facility will be priced at their applicable rate plus 0.90% to 1.75% and term loans will be priced at a floating interest rate of LIBOR plus 1.15% to 2.00%, based upon the Company’s then current investment grade credit rating. The Company may also make fixed rate borrowings under the Credit Facility. At March 31, 2014, the Company had undrawn commitments of $684.2 million under the Credit Facility.
	The Credit Facility provides for monthly interest payments. In the event of a default, each lender has the right to terminate its obligations under the Credit Facility and to accelerate the payment on any unpaid principal amount of all outstanding loans. The Company has guaranteed the obligations under the Credit Facility. The revolving credit facility will terminate on February 14, 2017, unless extended for an additional year pursuant to the terms of the agreement. The Company may prepay borrowings under the Credit Facility and the Company may incur an unused fee of 0.15% to 0.25% per annum on the unused amount depending on the unused balance as a percentage of the total facility and the type of funding. As of March 31, 2014, the Credit Facility also required the Company to maintain certain property available for collateral as a condition to funding.
	As of March 31, 2014, there was $2.3 billion outstanding on the Credit Facility, of which $1.3 billion bore a floating interest rate of 3.15%. There is $940.0 million outstanding on the Credit Facility which is fixed through the use of derivative instruments used to hedge interest rate volatility. Including the spread, which can vary based on the Company’s leverage, interest on this portion was 2.54% at March 31, 2014. At March 31, 2014, there was up to $684.2 million available to the Company for future borrowings, subject to borrowing availability. The credit facility matures on June 30, 2018.
	The Credit Facility requires restrictions on corporate guarantees as well as the maintenance of financial covenants, including the maintenance of certain financial ratios (such as specified debt to equity and debt service coverage ratios) and the maintenance of a minimum net worth. At March 31, 2014, the Company was in compliance with the debt covenants under the Credit Facility.
	ARCT IV Credit Facility
	As part of the ARCT IV Merger, the Company assumed a $800.0 million senior unsecured credit facility with various lenders, with Regions Bank acting as the administrative agent (the “ARCT IV Credit Facility”). As of the date of the ARCT IV Merger, there was $760.0 million outstanding under the ARCT IV Credit Facility, which consisted of a $300.0 million term loan facility and $460.0 million under the revolving credit facility. In connection with the ARCT IV Merger, the Company prepaid all of its loans pursuant to, and terminated all commitments available under, the ARCT IV Credit Facility.
	Unsecured Credit Facility
	As part of the CapLease Merger, the Company assumed an unsecured credit facility with Wells Fargo, National Association, which had commitments of up to $150.0 million at March 31, 2014. In February 2014, such credit facility was amended and certain modifications were made to the terms of the agreement (the “Unsecured Credit Facility”). The Unsecured Credit Facility was fully drawn with $150.0 million outstanding at March 31, 2014.
	The borrowings under the Unsecured Credit Facility bear interest at an annual rate of one-month LIBOR or LIBOR based on an interest period of one, three or six months, at the Company’s election, plus an applicable margin of 2.75%, payable quarterly in arrears. The Unsecured Credit Facility matures on December 31, 2014 and may be prepaid, in whole or in part, without premium or penalty, at the Company’s option, at any time.

	The obligations under the Unsecured Credit Facility are secured by mortgages on certain real property assets acquired from CapLease comprising the borrowing base. The Unsecured Credit Facility includes affirmative and negative covenants and financial performance covenants. At March 31, 2014, the Company was in compliance with the debt covenants under the Unsecured Credit Facility.
	Repayment of Previous Credit Facilities
	On February 28, 2013, the Company repaid all of the outstanding borrowings under its previous senior secured revolving credit facility in the amount of $124.6 million and the credit agreement for such facility was terminated. The average interest rate on the borrowings during the period the balance was outstanding was 3.11%. On February 14, 2013, simultaneous with entering into the Credit Facility, the Company terminated its then effective unsecured credit facility agreement, which had been unused.

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	Note 15 — Derivatives and Hedging Activities (As restated)
	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 the three months ended March 31, 2014, such derivatives were 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 $10.3 million will be reclassified from other comprehensive income as an increase to interest expense. During the three months ended March 31, 2014, the Company accelerated the reclassification of amounts in other comprehensive income to earnings as a result of the hedged forecasted transactions becoming probable not to occur.

	As of March 31, 2014, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk (dollar amounts in thousands):


	Interest Rate Derivative	Number of				Notional Amount
	Interest Rate Derivative	Instruments				Notional Amount
	Interest rate swaps		17			$	1,174,544
	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):


	Derivatives Designated as Hedging Instruments	Balance Sheet Location		March 31, 2014				December 31, 2013
	Interest rate products	Deferred costs and other assets, net		$	8,301			$	9,189
	Interest rate products	Deferred rent, derivative and other liabilities		$	(5,946	)		$	(1,719	)
	The table below details the location in the 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 and 2013, respectively (in thousands):


		Three Months Ended March 31,
	Derivatives in Cash Flow Hedging Relationships	2014				2013
	Amount of gain (loss) recognized in accumulated other comprehensive income on interest rate derivatives (effective portion)	$	(3,839	)		$	(1,859	)
	Amount of loss reclassified from accumulated other comprehensive income into income as interest expense (effective portion)	$	(1,541	)		$	(682	)
	In January 2014, the Company entered into an interest rate lock agreement with a notional amount of $250.0 million (the “Treasury Lock Agreement”). The Treasury Lock Agreement, which had an original maturity date of February 12, 2014, was entered into to hedge part of the Company’s interest rate exposure associated with the variability in future cash flows attributable to changes in the ten-year U.S. treasury rates related to the planned issuance of debt securities in conjunction with the Cole Merger. In connection with the Company’s bond offering in February 2014, the Company settled the Treasury Lock Agreement, which was accounted for as cash flow hedge, for $3.9 million, which was recorded to other comprehensive loss and will be amortized into earnings over the ten year term of the Treasury Lock.
	Derivatives Not Designated as Hedging Instruments
	Derivatives not designated as hedges are not speculative and are 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. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings and were approximately a loss of $7.1 million for the three months ended March 31, 2014. The Company did not have any derivatives that were not designated during the three months ended March 31, 2013.
	As of March 31, 2014, the Company had the following outstanding interest rate derivatives that were not designated as qualifying hedging relationships (dollar amounts in thousands):


	Interest Rate Derivative	Number of Instruments				Notional Amount
	Interest rate cap		1			$	500,000
	Interest rate swaps		5				234,800

	Total		6			$	734,800


	The table below presents the fair value of the Company’s derivative financial instruments not designated as hedges as well as their classification on the consolidated balance sheets as of March 31, 2014 and December 31, 2013 (in thousands):


	Derivatives Not Designated as Hedging Instruments	Balance Sheet Location		March 31, 2014				December 31, 2013
	Series D Preferred Stock embedded derivative	Deferred rent, derivative and other liabilities		$	(26,734	)		$	(16,736	)
	Interest rate products	Deferred rent, derivative and other liabilities		$	(2,791	)		$	—
	Interest rate products	Deferred costs and other assets, net		$	1,528			$	—
	Refer to Note 18 — Preferred and Common Stock for additional information for the Series D Preferred Stock embedded derivative.
	Tabular Disclosure Offsetting Derivatives
	The table below details 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 consolidated balance sheets (in thousands).


	Offsetting of Derivative Assets and Liabilities
		Gross				Gross				Gross		Net Amounts		Net Amounts			Financial		Cash		Net Amount
		Amounts of				Amounts of				Amounts		of Assets		of Liabilities			Instruments		Collateral
		Recognized				Recognized				Offset in the		Presented in		Presented in					Received
		Assets				Liabilities				Consolidated		the		the
										Balance		Consolidated		Consolidated
										Sheet		Balance Sheet		Balance
														Sheet
	March 31, 2014	$	9,829			$	(35,471	)		$	—	$	9,829	$	(35,471	)	$	—	$	—	$	(25,642	)
	December 31, 2013	$	9,189			$	(18,455	)		$	—	$	9,189	$	(18,455	)	$	—	$	—	$	(9,266	)
	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 the interest rate derivatives in a net liability position, including accrued interest but excluding any adjustment for nonperformance risk related to these agreements, was $10.3 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 $10.3 million at March 31, 2014.

Accounts_Payable_and_Accrued_E

Accounts Payable and Accrued Expenses	3 Months Ended
Accounts Payable and Accrued Expenses	Mar. 31, 2014
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	Note 16 — Accounts Payable and Accrued Expenses (As Restated)
	Accounts payable and accrued expenses consisted of the following as of March 31, 2014 and December 31, 2013 (in thousands):


		March 31, 2014		December 31, 2013
		(As Restated)		(As Restated)
	Accrued other	$	50,237	$	34,407
	Accrued interest		42,944		14,189
	Accrued real estate taxes		43,227		24,658
	Accounts payable		13,044		5,887
	Accrued merger costs		—		651,430

		$	149,542	$	730,571

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 17 — 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, except as follows:
	ARCT III Litigation Matters
	After the announcement of the ARCT III Merger Agreement on December 17, 2012, Randell Quaal filed a putative class action lawsuit filed on January 30, 2013 against the Company, the OP, ARCT III, ARCT III OP, the members of the board of directors of ARCT III and certain subsidiaries of the Company in the Supreme Court of the State of New York. The plaintiff alleges, among other things, that the board of ARCT III breached its fiduciary duties in connection with the transactions contemplated under the ARCT III Merger Agreement. In February 2013, the parties agreed to a memorandum of understanding regarding settlement of all claims asserted on behalf of the alleged class of ARCT III stockholders. In connection with the settlement contemplated by that memorandum of understanding, the class action and all claims asserted therein will be dismissed, subject to court approval. The proposed settlement terms required ARCT III to make certain additional disclosures related to the ARCT III Merger, which were included in a Current Report on Form 8-K filed by ARCT III with the SEC on February 21, 2013. The memorandum of understanding also added that the parties will enter into a stipulation of settlement, which will be subject to customary conditions, including confirmatory discovery and court approval following notice to ARCT III’s stockholders. If the parties enter into a stipulation of settlement, a hearing will be scheduled at which the court will consider the fairness, reasonableness and adequacy of the settlement. There can be no assurance that the parties will ultimately enter into a stipulation of settlement, that the court will approve any proposed settlement, or that any eventual settlement will be under the same terms as those contemplated by the memorandum of understanding, therefore any losses that may be incurred to settle this matter are not determinable.
	CapLease Litigation Matters
	Since the announcement of the CapLease Merger Agreement on May 28, 2013, the following lawsuits have been filed:
	On May 28, 2013, Jacquelyn Mizani filed a putative class action lawsuit in the Supreme Court for the State of New York against the Company, the OP, Safari Acquisition LLC, CapLease, CapLease LP, CLF OP General Partner, LLC and the members of the CapLease board of directors (the “Mizani Action”). The complaint alleges, among other things, that the merger agreement at issue was the product of breaches of fiduciary duty by the CapLease directors because the proposed merger transaction (the “CapLease Transaction”) purportedly does not provide for full and fair value for the CapLease shareholders, the CapLease Transaction allegedly was not the result of a competitive bidding process, the merger agreement allegedly contains coercive deal protection measures and the merger agreement and the CapLease Transaction purportedly were approved as a result of improper self-dealing by certain defendants who would receive certain alleged employment compensation benefits and continued employment pursuant to the merger agreement. The complaint also alleges that CapLease, the Company, the OP and Safari Acquisition LLC aided and abetted the CapLease directors’ alleged breaches of fiduciary duty.

	On July 3, 2013, Fred Carach filed a putative class action and derivative lawsuit in the Supreme Court for the State of New York against the Company, the OP, Safari Acquisition LLC, CapLease, CapLease LP, CLF OP General Partner, LLC and the members of the CapLease board of directors (the “Carach Action”). The complaint alleges, among other things, that the merger agreement was the product of breaches of fiduciary duty by the CapLease directors because the merger purportedly does not provide for full and fair value for the CapLease shareholders, the CapLease Transaction allegedly was not the result of a competitive bidding process, the merger agreement allegedly contains coercive deal protection measures and the merger agreement and the CapLease Transaction purportedly were approved as a result of improper self-dealing by certain defendants who would receive certain alleged employment compensation benefits and continued employment pursuant to the merger agreement. The complaint also alleges that with respect to the Registration Statement and draft joint proxy statement issued in connection with the proposed CapLease Transaction on July 2, 2013, that disclosures made therein were insufficient or otherwise improper. The complaint also alleges that CapLease, the Company, the OP and Safari Acquisition LLC aided and abetted the CapLease directors’ alleged breaches of fiduciary duty.
	On June 25, 2013, Dewey Tarver filed a putative class action and derivative lawsuit in the Circuit Court for Baltimore City against the Company, the OP, Safari Acquisition LLC, CapLease, CapLease LP, CLF OP General Partner, LLC and the members of the CapLease board of directors (the “Tarver Action”). The complaint alleges, among other things, that the merger agreement was the product of breaches of fiduciary duty by the CapLease directors because the CapLease Transaction purportedly does not provide for full and fair value for the CapLease shareholders, the CapLease Transaction allegedly was not the result of a competitive bidding process, the merger agreement allegedly contains coercive deal protection measures and the merger agreement and the CapLease Transaction purportedly were approved as a result of improper self-dealing by certain defendants who would receive certain alleged employment compensation benefits and continued employment pursuant to the merger agreement. The complaint also alleges that CapLease, CapLease LP, CLF OP General Partner, LLC, the Company, the OP and Safari Acquisition, LLC aided and abetted the CapLease directors’ alleged breaches of fiduciary duty.
	Counsel who filed each of these three cases reached an agreement with each other as to who will serve as lead plaintiff and lead plaintiffs’ counsel in the cases and where they will be prosecuted. Thus, on August 9, 2013, counsel in the Tarver Action filed a motion for stay in the Baltimore Court, informing the court that they had agreed to join and participate in the prosecution of the Mizani and Carach Actions in the New York Court. The Defendants consented to the stay of the Tarver Action in the Baltimore Court, and on September 5, 2013, Judge Pamela J. White issued an order granting that stay. Consequently, there has been no subsequent activity in the Baltimore Court in the Tarver Action. Also on August 9, 2013, all counsel involved in the Mizani and Carach Actions filed a joint stipulation in the New York Court, reflecting agreement among all parties that the Mizani and Carach Actions should be consolidated (jointly, “the Consolidated Actions”) and setting out a schedule for early motion practice in response to the complaints filed (the “Consolidation Stipulation”). Pursuant to the Consolidation Stipulation, an amended complaint was also filed in the New York court on August 9, 2013 and was designated as the operative complaint in the Consolidated Actions (“Operative Complaint”). Pursuant to the Consolidation Stipulation, all Defendants filed a motion to dismiss all claims asserted in the Operative Complaint on September 23, 2013. Plaintiffs’ response was due on or before November 7, 2013. On November 7, 2013, Plaintiffs filed a motion seeking leave to file a second amended complaint, which the Defendants have opposed. On March 24, 2014, Plaintiffs’ counsel in the Consolidated Actions dismissed those claims without prejudice. Consequently, only the Tarver Action currently remains pending among these cases, although it remains stayed.
	On October 8, 2013, John Poling filed a putative class action lawsuit in the Circuit Court for Baltimore City against the Company, the OP, Safari Acquisition LLC, CapLease, CapLease LP, CLF OP General Partner, LLC and the members of the CapLease board of directors (the “Poling Action”). The complaint alleges that the merger agreement breaches the terms of the CapLease’ 8.375% Series B Cumulative Redeemable Preferred Stock (“Series B”) and the terms of the 7.25% Series C Cumulative Redeemable Preferred Stock (“Series C”) and is in violation of the Series B Articles Supplementary and the Series C Articles Supplementary. The Complaint alleges claims for breach of contract and breach of fiduciary duty against the CapLease entities and the CapLease board of directors. The complaint also alleges that the Company, the OP and Safari Acquisition, LLC aided and abetted CapLease and the CapLease directors’ alleged breach of contract and breach of fiduciary duty.

	On November 13, 2013, all counsel involved in the Poling Action filed a joint stipulation, reflecting agreement among all parties concerning a schedule for early motion practice in response to the complaint filed (the “Scheduling Stipulation”). Pursuant to the Scheduling Stipulation, all Defendants filed a motion to dismiss all claims asserted in the Operative Complaint on December 20, 2013. Plaintiffs’ counsel has opposed that the motion to dismiss, and a hearing on the motion tis currently scheduled for May 15, 2014.
	Cole Litigation Matters
	Three putative class action and/or derivative lawsuits, which were filed earlier this year, assert claims for breach of fiduciary duty, abuse of control, corporate waste, unjust enrichment, aiding and abetting breach of fiduciary duty and other claims relating to the merger between a wholly owned subsidiary of Cole and Cole Holdings Corporation, pursuant to which Cole became a self-managed REIT. On October 22, 2013, the Circuit Court for Baltimore City granted all defendants’ motion to dismiss with prejudice the action pending before the court, but the plaintiffs have appealed that dismissal. The other two lawsuits, which also purport to assert shareholder class action claims under the Securities Act of 1933, as amended (the “Securities Act”), are pending in the United States District Court for the District of Arizona. Defendants filed a motion to dismiss both complaints on January 10, 2014. Subsequently, both of those lawsuits have been stayed by the Court pursuant to a joint request made by all parties pending final approval of the consolidated Baltimore Cole Merger Actions described below.
	To date, eleven lawsuits have been filed in connection with the Cole Merger. Two of these suits - Wunsch v. Cole, et al (“Wunsch”), No. 13-CV-2186, and Sobon v. Cole, et al (“Sobon”) - were filed as putative class actions on October 25, 2013 and November 18, 2013, respectively, in the U.S. District Court for the District of Arizona. Between October 30, 2013 and November 14, 2013, eight other putative stockholder class action or derivative lawsuits were filed in the Circuit Court for Baltimore City, Maryland, captioned as: (i) Operman v. Cole, et al (“Operman”); (ii) Branham v. Cole, et al (“Branham”); (iii) Wilfong v. Cole, et al. (“Wilfong”); (iv) Polage v. Cole, et al. (“Polage”); (v) Corwin v. Cole, et al (“Corwin”); (vi) Green v. Cole, et al (“Green”); (vii) Flynn v. Cole, et al (“Flynn”) and (viii) Morgan v. Cole, et al. (“Morgan”). All of these lawsuits name the Company, Cole and Cole’s board of directors as defendants; Wunsch, Sobon, Branham, Wilfong, Flynn, Green, Morgan and Polage also name CREInvestments, LLC, a Maryland limited liability company and a wholly-owned subsidiary of the Cole, as a defendant. All of the named plaintiffs claim to be Cole stockholders and purport to represent all holders of Cole’s stock. Each complaint generally alleges that the individual defendants breached fiduciary duties owed to plaintiff and the other public stockholders of Cole in connection with the Cole Merger, and that certain entity defendants aided and abetted those breaches. The breach of fiduciary duty claims asserted include claims that the Cole Merger does not provide for full and fair value for the Cole shareholders, that the Cole Merger was the product of an “inadequate sale process,” that the Cole Merger Agreement contains coercive deal protection measures and the Cole Merger Agreement and that the Cole Merger were approved as a result of or in a manner which facilitates improper self-dealing by certain defendants. In addition, the Flynn, Corwin, Green, Wilfong, Polage and Branham lawsuits claim that the individual defendants breached their duty of candor to shareholders and the Branham and Polage lawsuits assert claims derivatively against the individual defendants for their alleged breach of fiduciary duties owed to Cole. The Polage lawsuit also asserts derivative claims for waste of corporate assets and unjust enrichment. The Wunsch and Sobon lawsuits also assert claims against Cole and the individual defendants under Section 14(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), based on allegations that the proxy materials omitted to disclose allegedly material information, and a claim against the individual defendants under Section 20(a) of the Exchange Act based on the same allegations. Among other remedies, the complaints seek unspecified money damages, costs and attorneys’ fees.

	In January 2014, the parties to the eight lawsuits filed in the Circuit Court for Baltimore City, Maryland (“the consolidated Baltimore Cole Merger Actions”) entered into a memorandum of understanding regarding settlement of all claims asserted on behalf of the alleged class of Cole stockholders. In connection with the settlement contemplated by that memorandum of understanding, the class action and all claims asserted therein will be dismissed, subject to court approval. The proposed settlement terms required Cole to make certain additional disclosures related to the Cole Merger, which were included in a Current Report on Form 8-K filed by Cole with the SEC on January 14, 2014. The memorandum of understanding also contemplated that the parties will enter into a stipulation of settlement, which will be subject to customary conditions, including confirmatory discovery and court approval following notice to Cole’s stockholders. If the parties enter into a stipulation of settlement, a hearing will be scheduled at which the court will consider the fairness, reasonableness and adequacy of the settlement. There can be no assurance that the parties will ultimately enter into a stipulation of settlement, that the court will approve any proposed settlement, or that any eventual settlement will be under the same terms as those contemplated by the memorandum of understanding, therefore any losses that may be incurred to settle this matter are not determinable.
	The Sobon lawsuit was voluntarily dismissed on February 3, 2014. The Company believes that the Wunsch lawsuit in connection with the Cole Merger is without merit and that it has substantial meritorious defenses to the claims set forth in the complaint.
	On December 27, 2013, Realistic Partners filed a putative class action lawsuit against the Company and the members of its board of directors in the Supreme Court for the State of New York. Cole was later added as a defendant also. The plaintiff alleges, among other things, that the board of the Company breached its fiduciary duties in connection with the transactions contemplated under the Cole Merger Agreement and that Cole aided and abetted those breaches. In January 2014, the parties entered into a memorandum of understanding regarding settlement of all claims asserted on behalf of the alleged class of the Company’s stockholders. In connection with the settlement contemplated by that memorandum of understanding, the class action and all claims asserted therein will be dismissed, subject to court approval. The proposed settlement terms required the Company to make certain additional disclosures related to the Cole Merger, which were included in a Current Report on Form 8-K filed by the Company with the SEC on January 17, 2014. The memorandum of understanding also contemplated that the parties will enter into a stipulation of settlement, which will be subject to customary conditions, including confirmatory discovery and court approval following notice to the Company’s stockholders. If the parties enter into a stipulation of settlement, a hearing will be scheduled at which the court will consider the fairness, reasonableness and adequacy of the settlement. There can be no assurance that the parties will ultimately enter into a stipulation of settlement, that the court will approve any proposed settlement, or that any eventual settlement will be under the same terms as those contemplated by the memorandum of understanding, therefore any losses that may be incurred to settle this matter are not determinable.
	The Company maintains directors and officers liability insurance, which the Company believes should provide coverage to the Company and its officers and directors for most or all of any costs, settlements or judgments resulting from the lawsuits.
	Contractual Lease Obligations
	The following table reflects the minimum base rental cash payments due from the Company over the next five years and thereafter for certain ground and office lease obligations (in thousands):


		Future Minimum
		Base Rent Payments
	April 1, 2014 - December 31, 2014	$	10,264
	2015		12,922
	2016		11,575
	2017		10,248
	2018		7,918
	Thereafter		83,734

	Total	$	136,661


	Purchase Commitments
	Cole Capital enters into purchase and sale agreements and deposits funds into escrow towards the purchase of such acquisitions, most of which are expected to be assigned to one of the Managed REITs at or prior to the closing of the respective acquisition. As of March 31, 2014, the Company was a party to 41 purchase and sale agreements with unaffiliated third-party sellers to purchase a 100% interest in 157 properties, subject to meeting certain criteria, for an aggregate purchase price of $520.7 million, exclusive of closing costs. As of March 31, 2014, the Company had $10.1 million of property escrow deposits held by escrow agents in connection with these future property acquisitions, which may be forfeited if the transactions are not completed under certain circumstances. The Company will be reimbursed by the assigned Managed REIT for amounts escrowed when it acquires a property.
	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, in each case, that it believes will have a material adverse effect on the results of operations.

Preferred_and_Common_Stock

Preferred and Common Stock	3 Months Ended
Preferred and Common Stock	Mar. 31, 2014
Equity [Abstract]
Preferred and Common Stock	Note 18 — Preferred and Common Stock
	Series D and Series E Preferred Stock
	On September 12, 2013, the Company’s board of directors unanimously approved the issuance of Series D Cumulative Convertible Preferred Stock (“Series D Preferred Stock”) and the issuance of Series E Cumulative Preferred Stock (“Series E Preferred Stock”).
	On September 15, 2013, the Company entered into definitive purchase agreements pursuant to which it agreed to issue Series D Preferred Stock, par value $0.01 per share, and common stock, par value $0.01 per share, to certain institutional holders promptly following the close of the CapLease Merger, via a private placement. Pursuant to the definitive purchase agreements, the Company issued approximately 21.7 million shares of Series D Preferred Stock and 15.1 million shares of common stock, for gross proceeds of $288.0 million and $186.0 million, respectively, on November 12, 2013. The Series D Preferred Stock will pay dividends at the rate of 5.81% per annum on its face amount of $13.59 per share (equivalent to $0.79 per share on an annualized basis). The Series D Preferred Stock is redeemable by the Company on August 31, 2014 (the “Redemption Date”). Subsequent to that date, or in certain other circumstances, the Series D Preferred Stock is convertible into common stock or Series E Preferred Stock or redeemable into cash, at the discretion of the Company upon such request for conversion by the holders of Series D Preferred Stock.
	In the event of a liquidation, the holders of Series D Preferred Stock are entitled to receive the greater of (a) $13.59 per share plus accrued and unpaid dividends (the “Liquidation Preference”) plus a 20% premium and (b) an amount the Series D Preferred Stock holders would have received had they converted into shares of common stock immediately prior to the liquidation event.
	If the Company elects to redeem the Series D Preferred Stock on the Redemption Date, the Company shall pay the greater of (a) the product of the number of Series D Preferred Stock and the 102% of the Liquidation Preference and (b) the product of the shares of common stock that would be issued if the Series D Preferred Stock converted immediately prior to the Redemption Date and 102% of the one-day value-weighted average price (“VWAP”) of the common stock.

	At any time after the Redemption Date, the holders of Series D Preferred Stock may convert some or all of their outstanding Series D Preferred Stock into shares of common stock. Upon such an election to convert, the Company may elect the following settlement options (1) convert the shares of Series D Preferred Stock into the number of fully paid and non-assessable common stock obtained by dividing the aggregate Liquidation Preference of such Series D Preferred Stock by the Conversion Price, as defined below, (2) convert the shares of Series D Preferred Stock into an equal number of shares of Series E Preferred Stock, additional shares of Series E Preferred Stock may be issued under certain circumstances, or (3) an amount equal to the product of the number of shares of Series D Preferred Stock and the Cash Conversion Price, as defined below.
	The Conversion Price shall be the lowest of (i) a 2% discount to the VWAP of the common stock for the 10 Trading Days prior to the Conversion Election Date, (ii) a 2% discount to the closing price on the Conversion Election Date and (iii) $13.59. The Cash Conversion Price shall be the greater of (i) 102% of the Liquidation Preference and (ii) the one-day VWAP of the common stock on the date of the election.
	The Company has concluded that the conversion option qualifies as a derivative and should be bifurcated from the host instrument. At issuance, the conversion option had a fair value of $18.7 million. As of March 31, 2014, the fair value of the conversion option had a fair value of $26.7 million, compared to a fair value of $16.7 million as of December 31, 2013. The Company recorded the change in fair value of $10.0 million in loss on derivative instruments, net in the consolidated statements of operations for the three months ended March 31, 2014.
	As the holders of Series D Preferred Stock are entitled to receive liquidation preferences that other equity holders are not entitled to, the Company determined the Series D Preferred Stock meets the definition of a deemed liquidation event and therefore should be classified as temporary equity under U.S. GAAP. At the date of issuance, the fair value of the Series D Preferred Stock was $269.3 million. As of March 31, 2014, the Company has determined that a liquidation event is not probable; therefore, the Company has concluded that the Series D Preferred Stock is not currently redeemable or likely to become redeemable. As such, the Company has not accreted the initial value of the Series D Preferred Stock.
	As of March 31, 2014, there were 21,735,008 authorized and issued shares of Series D Preferred Stock and no authorized and issued shares of Series E Preferred Stock, respectively.
	Series F Preferred Stock
	On October 6, 2013, in connection with the modification to the ARCT IV Merger, the Company’s board of directors unanimously approved the issuance of Series F Preferred Stock. Upon consummation of the ARCT IV Merger on January 3, 2014, 42.2 million shares of Series F Preferred Stock were issued to ARCT IV shareholders and issued 0.7 million units of Series F OP Units to the ARCT IV OP Unit holders. Subsequent to original issuance and through March 31, 2014, 455,372 Series F OP Units were converted into an equivalent number of Series F Preferred Stock. As of March 31, 2014, there were 42,654,919 shares of Series F Preferred Stock and 266,093 Series F OP Units issued and outstanding.

	The Series F Preferred Stock will pay cumulative cash dividends at the rate of 6.70% per annum on its liquidation preference of $25.00 per share (equivalent to $1.675 per share on an annual basis). The Series F Preferred Stock will not be redeemable by the Company before the fifth anniversary of the date on which such Series F Preferred Stock is issued (the “Initial Redemption Date”), except under circumstances intended to preserve the Company’s status as a real estate investment trust for federal and/or state income tax purposes and except upon the occurrence of a change of control. On and after the Initial Redemption Date, the Company may, at its option, redeem shares of the Series F Preferred Stock, in whole or from time to time in part, at a redemption price of $25.00 per share plus, subject to exceptions, any accrued and unpaid dividends thereon to the date fixed for redemption. The shares of Series F Preferred Stock have no stated maturity, are not subject to any sinking fund or mandatory redemption and will remain outstanding indefinitely unless the Company redeems or otherwise repurchases them or they become convertible and are converted into common stock (or, if applicable, alternative consideration). The Series F Preferred Stock trades on the NASDAQ under the symbol “ARCPP”.
	Increases in Authorized Common Stock
	On December 9, 2013, the Company filed articles of amendment to its charter to increase the number of authorized shares of common stock to 1.5 billion shares.
	Offerings
	On August 1, 2012, the Company filed a $500 million universal shelf registration statement and a resale registration statement with the SEC. Each registration statement became effective on August 17, 2012. As of March 31, 2014, the Company had issued 2.1 million shares of common stock under the $500 million universal shelf registration statement. No preferred stock, debt or equity-linked security had been issued under this $500 million universal shelf registration statement. The resale registration statement, as amended, registers the resale of up to 1,882,248 shares of common stock issued in connection with any future conversion of certain currently outstanding restricted shares, convertible preferred stock or limited partnership interests in the OP.
	In January 2013, the Company commenced its “at the market” equity offering program (“ATM”) in which it may from time to time offer and sell shares of its common stock having aggregate offering proceeds of up to $60.0 million. The shares will be issued pursuant to the Company’s $500.0 million universal shelf registration statement.
	On March 14, 2013, the Company filed a universal automatic shelf registration statement that was automatically declared effective and achieved well-known seasoned issuer (“WKSI”) status. As a result of the delayed filing of certain of our periodic reports with the SEC, we are not currently eligible to use a shelf registration statement for the offer and sale of our securities.
	See Note 25 – Subsequent Events (As Restated) for further discussion.
	Dividends
	In October 2011, the Company began paying dividends on the 15th day of each month to stockholders of record on the eighth day of such month. On October 23, 2013, the board of directors of the Company authorized an annualized dividend per share of $1.00, which became effective February 7, 2014. The per share annualized dividend of $1.00 reflects an increase of $0.06 per share from an annualized dividend of $0.94 per share. The annualized dividend rate at March 31, 2014 was $1.00 per share.
	Common Stock Repurchases
	On August 20, 2013, the Company’s board of directors reauthorized its $250.0 million share repurchase program, which was originally authorized in February 2013. During the three months ended March 31, 2014, the Company did not repurchase any shares of common stock under the share repurchase program.

	Upon the closing of the ARCT III Merger, on February 28, 2013, 29.2 million shares, or 16.5% of the then-outstanding shares of ARCT III’s common stock, were paid in cash at $12.00 per share, which is equivalent to 27.7 million shares of the Company’s common stock based on the ARCT III Exchange Ratio. In addition, 148.1 million shares of ARCT III’s common stock were converted to shares of the Company’s common stock at the ARCT III Exchange Ratio, resulting in an additional 140.7 million shares of the Company’s common stock outstanding after the exchange.

Equitybased_Compensation_As_Re

Equity-based Compensation (As Restated)	3 Months Ended
Equity-based Compensation (As Restated)	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-based Compensation (As Restated)	Note 19 — Equity-based Compensation (As Restated)
	Equity Plan
	The Company has adopted the American Realty Capital Properties, Inc. Equity Plan (the “Equity Plan”), which provides for the grant of stock options, stock appreciation rights, restricted shares of common stock, restricted stock units, dividend equivalent rights and other stock-based awards to the Company’s and its affiliates’ non-executive directors, officers and other employees and advisors or consultants who are providing services to the Company or its affiliates.
	The Company authorized and reserved a total number of shares equal to 10.0% of the total number of issued and outstanding shares of common stock (on a fully diluted basis assuming the redemption of all OP Units for shares of common stock) to be issued at any time under the Equity Plan for equity incentive awards excluding an initial grant of 167,400 shares to its Former Manager in connection with the IPO, all of which were vested as of March 31, 2014. As of March 31, 2014, the Company has awarded 6,774,288 shares under the Equity Plan. In the first quarter of 2014, the Company issued 282,854 shares to its non-executive directors pursuant to the Equity Plan. Upon issuance, the documentation provided for accelerated vesting of shares upon voluntary resignation of the independent directors. As a result, the Company determined there was no required service period and $3.6 million has been recorded as expense during the three months ended March 31, 2014. However, based upon the findings of the Audit Committee and the Company in connection with the recent review of the Company’s previously filed financial statements, the Company subsequently modified such awards to provide that voluntary resignation would not accelerate the vesting of such awards.
	The fair value of restricted common stock awards awarded to employees under the Equity Plan is generally determined on the grant date using the closing stock price on NASDAQ that day and is expensed over the requisite service period. The fair value of restricted common stock awarded to non-employees under the Equity Plan is measured based upon the fair value of goods or services received or the equity instruments granted, whichever is more reliably determinable and is typically expensed in full at the date of grant.
	Director Stock Plan
	The Company has adopted the American Realty Capital Properties, Inc. Non-Executive Director Stock Plan (the “Director Stock Plan”), which provides for the grant of restricted shares of common stock to each of the Company’s independent directors, each of whom is a non-executive director. Awards of restricted stock will vest in accordance with the award agreements, which generally provide for ratable vesting over a five-year period following the date of grant. The awards of restricted stock provide for “distribution equivalents” with respect to this restricted stock, whether or not vested, at the same time and in the same amounts as distributions are paid to the stockholders. At March 31, 2014, a total of 99,000 shares of common stock are reserved for issuance under the Director Stock Plan. As of March 31, 2014, the Company has awarded 45,000 shares under the Director Stock Plan.
	The fair value of restricted common stock awards under the Director Stock Plan is determined on the grant date using the closing stock price on NASDAQ that day.

	ARCT IV Restricted Share Plan
	ARCT IV had an employee and director incentive restricted share plan (the “RSP”), which provided for the automatic grant of 1,333 restricted shares of common stock to each of its independent directors without any further action by ARCT IV’s board of directors or its stockholders on the date of initial election to the board of directors and on the date of each annual stockholder’s meeting thereafter. Restricted stock issued to independent directors vested over a five-year period following the date of grant in increments of 20% per annum. The RSP provided ARCT IV with the ability to grant awards of restricted shares to its directors, officers and employees (if ARCT IV ever had employees), employees of the ARCT IV Advisor and its affiliates, employees of entities that provided services to ARCT IV, directors of the ARCT IV Advisor or of entities that provided services to ARCT IV, certain consultants to ARCT IV and the ARCT IV Advisor and its affiliates or to entities that provided services to ARCT IV.
	Immediately prior to the effective time of the ARCT IV Merger, each then-outstanding share of ARCT IV restricted stock fully vested. All shares of ARCT IV common stock then-outstanding as a result of the full vesting of shares of ARCT IV restricted stock, and the satisfaction of any applicable withholding taxes, received shares of the Company’s common stock and additional consideration pursuant to the terms of the ARCT IV Merger Agreement based on the ARCT IV Exchange Ratio.
	The following table details the restricted shares activity within the Equity Plan and Director Stock Plan during the three months ended March 31, 2014:


			Equity Plan					Director Stock Plan
			Shares of			Weighted-		Shares of			Weighted-
			Restricted			Average		Restricted			Average
			Common			Issue		Common			Issue
			Stock			Price		Stock			Price
	Unvested, December 31, 2013			931,442		$	13.82		18,875		$	13.52
	Granted			5,580,678			13.28		3,000			13.99
	Vested			(323,915	)		12.85		(21,875	)		13.58
	Forfeited			(11,209	)		14.03		—			—

	Unvested, March 31, 2014			6,176,996		$	13.38		—		$	—

	For the three months ended March 31, 2014 and 2013, compensation expense, excluding Outperformance Bonus expense related to the OPP, for restricted shares was $17.5 million, which is recorded in general and administrative on the consolidated statement of operations.
	Multi-Year Outperformance Plan
	Upon consummation of the ARCT III Merger, the Company entered into the 2013 Advisor Multi-Year Outperformance Agreement (the “OPP”) with its Former Manager, whereby its Former Manager was able to potentially earn compensation upon the attainment of stockholder value creation targets.
	Under the OPP, the Former Manager was granted 8,241,101 long-term incentive plan units of the OP (“LTIP Units”), which could be earned or forfeited based on the Company’s total return to stockholders (including both share price appreciation and common stock distributions) (“Total Return”), for the three-year period that commenced on December 11, 2012.
	Pursuant to previous authorization of the Company’s board of directors, as a result of the termination of the Management Agreement, all 8,241,101 LTIP Units became fully earned, vested and convertible into OP units upon the consummation of the Company’s transition to self-management on January 8, 2014. During the three months ended March 31, 2014, the Company recorded expenses of $1.6 million for the LTIP Units under the OPP, which is recorded in general and administrative in the accompanying consolidated statements of operations. As of March 31, 2014, all LTIP Units under the OPP were earned and $93.9 million of the expense has been included in non-controlling interest on the consolidated balance sheets.

	New Multi-Year Outperformance Plan
	On October 3, 2013, the Company approved a multi-year outperformance plan (the “New OPP”), which became effective upon the Company’s transition to self-management, which occurred on January 8, 2014. Under the New OPP, individual agreements were entered into between the Company and the participants selected by the Compensation Committee (the “Participants”) that set forth the Participant’s participation percentage in the New OPP and the number of LTIP Units of the OP subject to the award (“OPP Agreements”). Under the New OPP and the OPP Agreements, the Participants are eligible to earn performance-based bonus awards equal to the Participant’s participation percentage of a pool that is funded up to a maximum award opportunity (the “New OPP Cap”) of approximately 5% of the Company’s equity market capitalization at the time of the approval of the New OPP (“the Initial Market Cap”).
	After the Audit Committee’s and the Company’s review of the OPP, such parties have determined that the Compensation Committee’s intention in respect of the OPP was that the maximum award pool opportunity should have been $120.0 million. In October 2013, the Compensation Committee approved an aggregate award pool to be measured by the Company’s market capitalization as of the date of such approval; however, the OPP was definitively documented to measure market capitalization on a pro forma basis as of the Company’s transition to self-management (including the pro forma impact of various transactions expected to be consummated prior to the Company’s transition to self-management on January 8, 2014), which was calculated in December 2013.
	Subject to the New OPP Cap, the pool will equal an amount to be determined based on the Company’s level of achievement of total return to stockholders, including both share price appreciation and common stock distributions (“Total Return”), as measured against an absolute hurdle and against a peer group of companies for a three-year performance period that commenced on October 1, 2013 (the “Performance Period”); with valuation dates on which a portion of the LTIP Units up to a specified amount of the New OPP Cap could be earned on the last day of each 12-month period during the Performance Period (each an “Annual Period”) and the initial 24-month period of the Performance Period (the “Interim Period”), as follows:


			Performance		Annual	Interim
			Period		Period	Period
	Absolute Component: 4% of any excess Total Return attained above an absolute hurdle measured from the beginning of such period:		21%		7%	14%
	Relative Component: 4% of any excess Total Return attained above the median Total Return for the performance period of the Peer Group(1), subject to a ratable sliding scale factor as follows based on achievement of cumulative Total Return measured from the beginning of such period:
	• 100% will be earned if cumulative Total Return achieved is at least:		18%		6%	12%
	• 50% will be earned if a cumulative Total Return achieved is:		0%		0%	0%
	• 0% will be earned if cumulative Total Return achieved is less than:		0%		0%	0%
	• a percentage from 50% to 100% calculated by linear interpolation will be earned if cumulative Total Return achieved is if between:		0% - 18%		0% - 6%	0% - 12%

	-1	The “Peer Group” is comprised of the following companies: EPR Properties; Getty Realty Corporation; Lexington Realty Trust; National Retail Properties, Inc.; Realty Income Corporation; and Spirit Realty Capital, Inc.
	The New OPP provides for early calculation and vesting of the award in the event of a change in control of the Company, prior to the end of the Performance Period. The Participants are entitled to receive a tax gross-up in the event that any amounts paid to the Participant under the New OPP constitute “parachute payments” as defined in Section 280G of the Code. The LTIP Units granted under the New OPP represent units of equity ownership in the OP that are structured as a profits interest therein. Subject to the Participant’s continued service through each vesting date, one-third of any earned LTIP Units will vest on October 1, 2016, October 1, 2017 and October 1, 2018, respectively. The Participants are entitled to receive distributions on their LTIP Units to the extent provided for in the limited partnership agreement of the OP, as amended from time to time. During the three months ended March 31, 2014, the Company recorded expenses of $2.5 million for the New OPP, which is recorded in equity based compensation and included with general and administrative on the consolidated statement of operations. As of March 31, 2014, the Company recorded a total payable for distributions on LTIP units related to the OPP and the New OPP of $7.1 million.

Related_Party_Transactions_and

Related Party Transactions and Arrangements (As Restated)	3 Months Ended
Related Party Transactions and Arrangements (As Restated)	Mar. 31, 2014
Related Party Transactions [Abstract]
Related Party Transactions and Arrangements (As Restated)	Note 20 — Related Party Transactions and Arrangements (As Restated)
	The Company, ARCT III and ARCT IV have incurred commissions, fees and expenses payable to the Former Manager and its affiliates including Realty Capital Securities, LLC (“RCS”), RCS Advisory Services, LLC (“RCS Advisory”), ARC, ARC Advisory Services, LLC (“ARC Advisory”), American Realty Capital Advisors III, LLC (“the ARCT III Advisor”), American Realty Capital Advisors IV, LLC (“the ARCT IV Advisor”), American National Stock Transfer, LLC (“ANST”) and ARC Real Estate Partners, LLC (“ARC Real Estate”). References throughout this Note 20 — Related Party Transactions and Arrangements (As Restated) to expenses incurred by ARCT III or ARCT IV are to expenses incurred before their acquisitions by the General Partner on February 28, 2013 and January 3, 2014, respectively.
	The Audit Committee’s investigation identified certain payments made by the Company to the Former Manager and certain affiliates of the Former Manager that were not sufficiently documented or otherwise warrant scrutiny. As described below, the Company has recovered consideration valued at approximately $8.5 million in respect of certain such payments. The Company is considering whether it has a right to seek recovery for any other such payments and, if so, its alternatives for seeking recovery. No asset has been recognized in the financial statements related to any potential recovery.
	The following table summarizes the related party fees and expenses incurred by the Company, ARCT III and ARCT IV by category and the aggregate amounts contained in such categories for the periods presented (in thousands):


			Three Months Ended March 31,
			2014			2013
	Related party transactions:
	Expenses and capitalized costs:
	Financing fees and reimbursements		$	—		$	7,500
	Offering related costs			150			135,988
	Acquisition related expenses			1,539			6,963
	Merger and other non-routine transactions			137,738			106,680
	Management fees to affiliates			13,888			12,493
	General and administrative expenses			15,592			5,209
	Indirect affiliate expenses			498			—
	Cole Capital revenues:
	Cole Capital offering related revenue			42,453			—
	Cole Capital operating revenue			11,804			—

	Total		$	223,662		$	274,833

	The following sections below further expand on the summarized related party transactions listed above.
	Financing Fees and Reimbursements
	During the three months ended March 31, 2013, the Company and ARCT III paid the Former Manager and the ARCT III Advisor, respectively, financing coordination fees of $7.5 million which is equal to 0.75% of the amount available under any secured mortgage financing or refinancing that the Company or ARCT III, respectively, obtained and used for the acquisition of properties that was arranged by the Former Manager or the ARCT III Advisor, respectively. The financing fees were payable in cash at the closing of each financing. In conjunction with the closing of the ARCT III Merger, it was agreed that these fees would no longer be paid by the Company to the Former Manager. No such fees were incurred during the three months ended March 31, 2014. Financing fees and reimbursements are included in deferred costs, net in the accompanying consolidated balance sheets.

	Offering Related Costs
	The Company, ARCT III and ARCT IV recorded commissions, fees and offering cost reimbursements as shown in the table below for services provided to the Company, ARCT III and ARCT IV, as applicable, by affiliates of the Former Manager during the periods indicated (in thousands):


			Three Months Ended March 31,
			2014			2013
	Offering related costs:
	Commissions and fees		$	150		$	125,932
	Offering costs and other reimbursements			—			10,056

	Total		$	150		$	135,988

	RCS served as the dealer-manager of the ARCT III IPO and the ARCT IV IPO. RCS received fees and compensation in connection with the sale of ARCT III’s and ARCT IV’s common stock in the respective IPOs. RCS received a selling commission of 7% of gross offering proceeds before reallowance of commissions earned by participating broker-dealers in each of the IPOs. RCS received 3% of the gross proceeds from the sale of common stock, before reallowance to participating broker-dealers, as a dealer-manager fee in each of the IPOs. In addition, ARCT III and ARCT IV reimbursed the ARCT III Advisor, the ARCT IV Advisor and RCS, as applicable, for services relating to the ARCT III IPO and the ARCT IV IPO during 2013 and for services relating to the Company’s ATM equity program during 2014. Offering related costs are included in offering costs, commissions and dealer-manager fees in the accompanying consolidated statements of changes in equity.
	Acquisition Related Expenses
	During the three months ended March 31, 2014, the Company paid a fee of $1.0 million (equal to 0.25% of the contract purchase price) to RCS for strategic advisory services related to its acquisition of certain properties in the Fortress Portfolio and $0.5 million (equal to 0.25% of the contract purchase price) to RCS related to its acquisition of certain properties in the Inland Portfolio. No fees were incurred during the three months ended March 31, 2013 in connection with these transactions.
	During the three months ended March 31, 2013, the Company, ARCT III and ARCT IV paid acquisition fees to the Former Manager and its affiliates equal to 1.0% of the contract purchase price, inclusive of indebtedness, of each property acquired by the Company, ARCT III or ARCT IV, as applicable. The Company, ARCT III and ARCT IV additionally reimbursed certain expenses as permitted under the advisory agreements. The Company and ARCT III were no longer required to pay these fees as of the ARCT III Merger, except for those properties in the acquisition pipeline as of that date. ARCT IV incurred these fees throughout 2013. These fees and reimbursements incurred and paid totaled $7.0 million during the three months ended March 31, 2013.

	Merger and Other Non-routine Transactions
	The Company, ARCT III and ARCT IV incurred fees and expenses payable to the Former Manager and its affiliates for services related to mergers and other non-routine transactions, as discussed below. These fees are included in merger and other non-routine transactions in the accompanying consolidated statements of operations. The table below shows fees and expenses attributable to each merger and other non-routine transaction during the three months ended March 31, 2014 (in thousands):


			Three Months Ended March 31, 2014
			ARCT IV Merger			Internalization			Cole			Multi-tenant			Total
			ARCT IV Merger			and other			Merger			Spin-Off			Total
	Merger related costs:
	Strategic advisory services		$	8,400		$	—		$	17,115		$	1,750			27,265
	Personnel costs and other reimbursements			—			—			72			—			72
	Other non-routine transactions:
	Subordinated distribution fees			78,244			—			—			—			78,244
	Furniture, fixtures and equipment			5,800			10,000			—			—			15,800
	Other fees and expenses			—			—			2,900			—			2,900
	Personnel costs and other reimbursements			417			—			1,688			—			2,105
	Post-transaction support services			1,352			10,000			—			—			11,352

	Total		$	94,213		$	20,000		$	21,775		$	1,750		$	137,738

	The table below shows fees and expenses attributable to the ARCT III Merger and other non-routine transactions during the three months ended March 31, 2013 (in thousands):


		Three Months Ended
		March 31, 2013
		ARCT III Merger
Merger related costs:
Legal fees and expenses		$	125
Personnel costs and other reimbursements			334
Other non-routine transactions:
Subordinated distribution fees			98,360
Furniture, fixtures and equipment			5,800
Post-transaction support services			2,000
Legal fees and expenses			61

Total		$	106,680

Merger Related Costs
ARCT IV Merger
Pursuant to ARCT IV’s advisory agreement with the ARCT IV Advisor, ARCT IV agreed to pay the ARCT IV Advisor a brokerage commission on the sale of property in connection with the ARCT IV Merger. At the time of the ARCT IV Merger, ARCT IV paid $8.4 million to the ARCT IV Advisor in connection with this agreement. These commissions were included in merger and other non-routine transactions in the accompanying consolidated statement of operations for the three months ended March 31, 2014.

Cole Merger
The Company entered into an agreement with RCS under which RCS agreed to provide strategic and financial advisory services to the Company in connection with the Cole Merger. The Company agreed to pay a fee equal to 0.25% of the transaction value upon the consummation of the transaction and reimburse out of pocket expenses. The Company incurred and recognized $14.2 million in expense from this agreement during the three months ended March 31, 2014. These fees are included in merger and other non-routine transactions in the accompanying consolidated consolidated statement of operations during the three months ended March 31, 2014. No such fees were incurred during the three months ended March 31, 2013.
Pursuant to the Transaction Management Services Agreement dated December 9, 2013, ARCP and the OP agreed to pay RCS Advisory an aggregate fee of $2.9 million in connection with providing the following services: transaction management support related to the Cole Merger up to the date of the Transaction Management Services Agreement and ongoing transaction management support, marketing support, due diligence coordination and event coordination up to the date of the termination of the Transaction Management Services Agreement. The Transaction Management Services Agreement expired on the consummation of the Company’s transition to self-management on January 8, 2014. The Company paid RCS Advisory $2.9 million thereunder on January 8, 2014.
Multi-tenant Spin-off
The Company entered into an agreement with RCS under which RCS agreed to provide strategic and financial advisory services to the Company in connection with the Company’s previously announced spin-off of its multi-tenant shopping center portfolio. During the three months ended March 31, 2014, the Company incurred $1.8 million of such fees, which are included in merger and other non-routine transactions in the accompanying statement of operations for the three months ended March 31, 2014. No such fees were incurred during the three months ended March 31, 2013.
Other Non-routine Transactions
ARCT III Merger Subordinated Distribution Fees
On February 28, 2013, the OP entered into a Contribution and Exchange Agreement (the “ ARCT III Contribution and Exchange Agreement”) with the ARCT III OP and the ARCT III Special Limited Partner, the holder of the special limited partner interest in the ARCT III OP. The ARCT III Special Limited Partner was entitled to receive certain distributions from the ARCT III OP, including a subordinated distribution of net sales proceeds resulting from an “investment liquidity event” (as defined in the agreement of limited partnership of the ARCT III OP). The ARCT III Merger constituted an “investment liquidity event,” due to the attainment of the 6.0% performance hurdle and the return to ARCT III’s stockholders in addition to their initial investment. Pursuant to the ARCT III Contribution and Exchange Agreement, the ARCT III Special Limited Partner contributed its interest in the ARCT III OP, inclusive of the $98.4 million subordinated distribution proceeds received, to the ARCT III OP in exchange for 7.6 million ARCT III OP Units. Upon consummation of the ARCT III Merger, these ARCT III OP Units were immediately converted into 7.3 million OP Units after application of the ARCT III Exchange Ratio. The Company recorded an expense of $98.4 million during the three months ended March 31, 2013 in connection with this transaction. In conjunction with the ARCT III Merger Agreement, the ARCT III Special Limited Partner agreed to hold its OP Units for a minimum of one year before converting them into shares of Company common stock.
ARCT IV Merger Subordinated Distribution Fees
On January 3, 2014, the OP entered into a Contribution and Exchange Agreement (the “ARCT IV Contribution and Exchange Agreement”) with the ARCT IV OP, ARCT IV Special Limited Partner and ARC Real Estate. The ARCT IV Special Limited Partner was entitled to receive certain distributions from the ARCT IV OP, including the subordinated distribution of net sales proceeds resulting from an “investment liquidity event” (as defined in the agreement of limited partnership of the ARCT IV OP). The ARCT IV Merger constituted an “investment liquidity event,” due to the attainment of the 6.0% performance hurdle and the return to ARCT IV’s stockholders of approximately $358.3 million in addition to their initial investment. Pursuant to the ARCT IV Contribution and Exchange Agreement, the ARCT IV Special Limited Partner contributed its interest in the ARCT IV OP, inclusive of the $78.2 million of subordinated distribution proceeds received, to the ARCT IV OP in exchange for 2.8 million ARCT IV OP Units after application of the ARCT IV Exchange Ratio. Upon consummation of the ARCT IV Merger, these ARCT IV OP Units were immediately converted into 6.7 million OP Units. In conjunction with the ARCT IV Merger Agreement, the ARCT IV Special Limited Partner agreed to hold its OP Units for a minimum of two years before converting them into shares of the Company’s common stock.

Furniture, Fixtures and Equipment and Other Assets
The Company entered into three agreements with affiliates of the Former Manager and the Former Manager (the “Sellers”), as applicable, pursuant to which, concurrently with the closing of the ARCT III Merger, the ARCT IV Merger and the Company’s transition to self-management, the Sellers sold the OP certain FF&E and other assets used by the Sellers in connection with managing the property level business and operations and accounting functions of the Company and the OP. The Company incurred and recorded $15.8 million and $5.8 million to purchase the FF&E and other assets during the three months ended March 31, 2014 and 2013, respectively. The Company has concluded that there was no evidence of the receipt and it could not support the value of the FF&E and other assets. As such, the Company has expensed the amount originally capitalized and recognized the expense in merger and other non-routine transaction-related expense.
Other Fees and Expenses
In connection with the closing of the Cole Merger, the Company paid $2.9 million to RCS Advisory. No such expenses were incurred during the three months ended March 31, 2013.
Post-Transaction Support Services
ARCT III entered into an agreement with ARC Advisory under which ARC Advisory agreed to provide support services including legal, accounting, marketing, human resources and information technology, among other services, until the earlier of the ARCT III Merger closing date or one year (and an agreed upon period of up to 60 days following the ARCT III Merger). ARCT III incurred and paid $2.0 million in fees pursuant to this agreement during the three months ended March 31, 2013.
In connection with its entry into the ARCT IV Merger Agreement, ARCT IV agreed to pay additional asset management fees, which totaled $1.3 million net of credits received from affiliates during the three months ended March 31, 2014.
Pursuant to the Amendment and Acknowledgment of Termination of Amended and Restated Management Agreement entered into as of January 8, 2014, the Former Manager agreed to provide certain transition services including accounting support, acquisition support, investor relations support, public relations support, human resources and administration, general human resources duties, payroll services, benefits services, insurance and risk management, information technology, telecommunications and Internet and services relating to office supplies. In consideration of the aforementioned services, the Company paid $10.0 million to the Former Manager on January 8, 2014. This arrangement was in effect for a 60-day term beginning on January 8, 2014.
Management Fees to Affiliates
The Company, ARCT III and ARCT IV recorded fees and reimbursements as shown in the table below for services provided by the Former Manager and its affiliates related to the operations of the Company, ARCT III and ARCT IV during the periods indicated (in thousands):


		Three Months Ended March 31,
		2014			2013
Management fees to affiliates:
Asset management fees		$	13,888		$	11,693
Property management fees			—			800

Total		$	13,888		$	12,493


Base Management Fees
Prior to the termination of the amended and restated management agreement, the Company paid the Former Manager an annual base management fee equal to 0.50% per annum of the average unadjusted book value of the Company’s real estate assets, calculated and payable monthly in advance, for the value of assets up to $3.0 billion and 0.40% per annum for the unadjusted book value of assets over $3.0 billion. The management fee was generally payable in cash however in lieu of cash. Prior to the ARCT III Merger, the Former Manager was entitled to an annual base management fee equal to 0.50% per annum for the unadjusted book value of assets with no asset threshold limitations. The Former Manager waived its management fee of $0.4 million during the three months ended March 31, 2013.
Asset Management Fees
ARCT III
Effective July 1, 2012, as payment for the asset management fee, ARCT III issued (subject to periodic approval by its board of directors) to the ARCT III Advisor performance-based restricted partnership units of the ARCT III OP designated as “ARCT III Class B units,” which were intended to be profits interests and to vest, and no longer be subject to forfeiture, at such time as: (x) the value of the ARCT III OP’s assets plus all distributions that equaled or exceeded the total amount of capital contributed by investors plus a 6.0% cumulative, pre-tax, non-compounded annual return thereon (the “economic hurdle”); and (y) a liquidity event had occurred.
The ARCT III Advisor received distributions on unvested ARCT III Class B units equal to the distribution rate received on ARCT III common stock. In 2012, the ARCT III board of directors approved the issuance of 145,022 ARCT III Class B units to the ARCT III Advisor for asset management services it provided. In 2013, the ARCT III board of directors approved issuance of an additional 603,599 ARCT III Class B units to the ARCT III Advisor for asset management services it provided. As of December 31, 2012, ARCT III did not consider achievement of the performance condition to be probable as the shareholder vote for the ARCT III Merger, which would allow vesting of these ARCT III Class B Units, was not completed. The performance condition related to these ARCT III Class B units was satisfied upon the completion of the ARCT III Merger and as a result a $9.4 million expense was recorded during the three months ended March 31, 2013. The 748,621 ARCT III Class B units converted into ARCT III OP Units, which converted on a one-to-one basis, into 711,190 OP Units after the application of the ARCT III Exchange Ratio.
In connection with a 60-day extension of the advisory agreement which was executed in order to facilitate the smooth transition of advisory services following the consummation of the ARCT III Merger, the Company incurred and paid additional asset management fees of $2.3 million during the three months ended March 31, 2013. No such fees were incurred during the three months ended March 31, 2014.
ARCT IV
In connection with the asset management services provided by the ARCT IV Advisor, ARCT IV issued (subject to periodic approval by ARCT IV’s board of directors) to the ARCT IV Advisor performance-based restricted partnership units of the ARCT IV OP designated as “ARCT IV Class B Units,” which were intended to be profit interests and to vest, and no longer be subject to forfeiture, at such time as: (x) the value of the ARCT IV OP’s assets plus all distributions that equaled or exceeded the total amount of capital contributed by investors plus a 6.0% 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 ARCT IV Advisor was still providing advisory services to ARCT IV.
The calculation of the ARCT IV asset management fees was equal to: (i) 0.1875% of the cost of ARCT IV’s assets; divided by (ii) the value of one share of ARCT IV common stock as of the last day of such calendar quarter. When approved by the board of directors, the ARCT IV Class B Units were issued to the ARCT IV Advisor quarterly in arrears pursuant to the terms of the ARCT IV OP agreement. During the year ended December 31, 2013, ARCT IV’s board of directors approved the issuance of 492,483 ARCT IV Class B Units to the ARCT IV Advisor in connection with this arrangement. As of December 31, 2013, ARCT IV did not consider achievement of the performance condition to be probable and no expense was recorded at that time. The ARCT IV Advisor received distributions on unvested ARCT IV Class B Units equal to the distribution rate received on the ARCT IV common stock. The performance condition related to the 498,857 ARCT IV Class B Units, which includes units issued for the period of January 1, 2014 through the ARCT IV Merger Date, was satisfied upon the completion of the ARCT IV Merger. These ARCT IV Class B Units immediately converted into OP Units at the 2.3961 exchange ratio discussed in Note 3 — Mergers and Acquisitions and the Company recorded an expense of $13.9 million based on the fair value of the ARCT IV Class B Units during the three months ended March 31, 2014.

Property Management Fees
ARCT III also agreed to pay an affiliate of ARC, unless it contracted with a third party, a property management fee of up to 2% of gross revenues from ARCT III’s stand-alone single-tenant net leased properties and 4% of gross revenues from its multi-tenant properties, plus, in each case, market-based leasing commissions applicable to the geographic location of the property. ARCT III also agreed to reimbursed the affiliate for property level expenses. If ARCT III contracted directly with third parties for such services, it paid them customary market fees and paid the affiliated property manager an oversight fee of up to 1% of the gross revenues of the property managed. Property management fees of $0.8 million are recorded in management fees to affiliates in the accompanying consolidated statements of operations for the three months ended March 31, 2013. No such fees were incurred during the three months ended March 31, 2014.
Quarterly Incentive Fee
Prior to the termination of the amended and restated management agreement as a result of internalization, the Company was required to pay the Former Manager a quarterly incentive fee, calculated based on 20% of the excess of annualized core earnings (as defined in the management agreement with the Former Manager) over the weighted-average number of shares multiplied by the weighted-average price per share of common stock. One half of each quarterly installment of the incentive fee would be payable in shares of common stock. The remainder of the incentive fee would be payable in cash. No incentive fees were incurred or paid during the three months ended March 31, 2014 or 2013.
General and Administrative Expenses
The Company, ARCT III and ARCT IV recorded general and administrative expenses as shown in the table below for services provided by the Former Manager and its affiliates related to the operations of the Company, ARCT III and ARCT IV during the periods indicated (in thousands):


		Three Months Ended March 31,
		2014			2013
General and administrative expenses:
Advisory fees and reimbursements		$	1,518		$	2,601
Equity awards			14,074			2,608

Total		$	15,592		$	5,209

Advisory Fees and Reimbursements
The Company, ARCT III and ARCT IV agreed to pay certain fees and reimbursements of $1.5 million and $2.6 million during the three months ended March 31, 2014 and 2013, respectively, to the Former Manager and its affiliates, as applicable, for their out-of-pocket costs, including without limitation, legal fees and expenses, transfer agent fees, due diligence fees and expenses, other third party fees and expenses, costs of appraisals, travel expenses, nonrefundable option payments and deposits on properties not acquired, accounting fees and expenses, title insurance premiums and other closing costs, personnel costs and miscellaneous expenses relating to the selection, acquisition and due diligence of properties or general operation of the Company.

Equity Awards
Upon consummation of the ARCT III Merger, the Company entered into the OPP with its Former Manager. The OPP gave the Former Manager the opportunity to earn compensation upon the attainment of certain stockholder value creation targets. The Company recorded $0.6 million of expense during the three months ended March 31, 2013 in connection with the OPP. During the three months ended March 31, 2014, $1.6 million was recorded to general and administrative expenses as stock based compensation relating to the change in total return to stockholders used in computing the number of LTIP units earned between December 31, 2013 and January 8, 2014.
As a result of the ARCT III Merger, certain restricted shares held by employees of affiliates of the Former Manager were fully vested. This expense of $2.0 million is included in general and administrative expense in the accompanying consolidated statement of operations during the three months ended March 31, 2013. During the three months ended March 31, 2013, the Company granted 325,000 restricted stock awards to employees of affiliates of the Former Manager as compensation for certain services. The grant date fair value for this issuance was $4.5 million.
During the three months ended March 31, 2014, the Company granted 796,075 restricted stock awards to employees of affiliates of the Former Manager as compensation for certain services and 87,202 restricted stock awards to two directors who are affiliates of the Former Manager. The grant date fair value of the awards of $12.5 million was recorded in general and administrative expenses in the accompanying consolidated statements of operations during the three months ended March 31, 2014.
Indirect Affiliate Expenses
During 2014, the Company incurred fees and expenses payable to the Company’s affiliates or payable to a third party on behalf of the Company’s affiliates for amenities related to certain buildings, as explained below. No such fees or expenses were incurred during 2013. These expenses are depicted in the table below for the periods indicated (in thousands):


		Three Months Ended
		March 31, 2014
Indirect affiliate expenses:
Audrain building		$	405
New York (405 Park Ave) office			71
Dresher, PA office			19
North Carolina office			3

Total		$	498

Audrain Building
During the year ended December 31, 2013, a wholly owned subsidiary of ARC Real Estate purchased a historic building in Newport, Rhode Island (“Audrain”) with plans to renovate the second floor to serve as offices for certain executives of the Company, and affiliates of the Former Manager. The Former Manager requested that invoices relating to the second floor renovation and tenant improvements and all building operating expenses either be reimbursed by the Company to the affiliate of the Former Manager or be paid directly to the contractors and vendors. During the three months ended March 31, 2014, the Company paid $0.3 million for tenant improvements and furniture and fixtures relating to the renovation. These payments were made directly to third parties.
In addition, on October 4, 2013, the Company entered into a lease agreement with the subsidiary of ARC Real Estate for a term of 15 years with annual base rent of $0.4 million requiring monthly payments beginning on that date. As there were tenants occupying the building when it was purchased, these tenants subleased their premises from the Company until their leases terminated. During the three months ended March 31, 2014, the Company incurred and paid $0.1 million for base rent, which was partially offset by $7,000 of rental revenue received from the subtenants.

Subsequent to March 31, 2014, as a result of findings of the investigation conducted by the Audit Committee, the Company terminated the lease agreement and was reimbursed for the tenant improvements and furniture costs incurred by the Company totaling $8.5 million, which included the tenant improvement of $0.3 million incurred by the Company in the three months ended March 31, 2014. Reimbursement was made by delivery and retirement of 916,423 OP Units held by an affiliate of the Former Manager. The Company never moved into or occupied the building.
Office Rents
During the three months ended March 31, 2014, the Company paid $0.1 million to an affiliate of the Former Manager for rent related to the offices in New York, Pennsylvania and North Carolina where certain of the Company’s employees shared office space with an affiliate of the Former Manager.
Additional Related Party Transactions
The following related party transactions were not included in the tables above:
Tax Protection Agreement
The Company is party to a tax protection agreement with ARC Real Estate, which contributed its 100% indirect ownership interests in 63 of the Company’s properties to the Operating Partnership in the formation transactions related to the Company’s IPO. Pursuant to the tax protection agreement, the Company has agreed to indemnify ARC Real Estate for its tax liabilities (plus an additional amount equal to the taxes incurred as a result of such indemnity payment) attributable to its built-in gain, as of the closing of the formation transactions, with respect to its interests in the contributed properties (other than two vacant properties contributed), if the Company sells, conveys, transfers or otherwise disposes of all or any portion of these interests in a taxable transaction on or prior to September 6, 2021. The sole and exclusive rights and remedies of ARC Real Estate under the tax protection agreement will be a claim against the Operating Partnership for ARC Real Estate’s tax liabilities as calculated in the tax protection agreement, and ARC Real Estate shall not be entitled to pursue a claim for specific performance or bring a claim against any person that acquires a protected party from the Operating Partnership in violation of the tax protection agreement.
Investment from the ARCT III Special Limited Partner
In connection with the ARCT III Merger, the ARCT III Special Limited Partner invested $0.8 million in the ARCT III OP and was subsequently issued 56,797 OP Units in respect thereof upon the closing of the ARCT III Merger after giving effect to the ARCT III Exchange Ratio. This investment is included in non-controlling interests in the accompanying consolidated balance sheets.
Investment in an Affiliate of the Former Manager
As of March 31, 2014 and December 31, 2013, the Company held an investment valued at $1.6 million and $1.5 million, respectively, in a real estate fund advised by an affiliate of the Former Manager, American Real Estate Income Fund, which invests primarily in equity securities of other publicly traded REITs.
Ownership by Affiliates of the Former Manager
Certain affiliates of the Former Manager own shares of the Company’s common stock, shares of unvested restricted common stock, OP Units and LTIP Units. As of March 31, 2014 and December 31, 2013, 3.26% and 4.37%, respectively, of the total equity units issued by the Company and the OP were owned by affiliates.

Due to Affiliates
Due to affiliates, as reported in the accompanying consolidated balance sheets, is comprised of the following amounts discussed above (in thousands):


		March 31, 2014			December 31, 2013
		(as Restated)			(as Restated)
Due to affiliates:
Offering related costs		$	150		$	220
Merger and other non-routine transactions			1,847			38,645
General and administrative			443			59,600
Indirect affiliate costs			12			—
Managed REITs and other			162			—
Management fees to affiliates			—			4,969

Total		$	2,614		$	103,434

Cole Capital
Cole Capital is contractually responsible for managing the Managed REITs’ affairs on a day-to-day basis, identifying and making acquisitions and investments on the Managed REITs’ behalf, and recommending to each of the Managed REIT’s respective board of directors an approach for providing investors with liquidity. In addition, the Company distributes the shares of common stock for certain Managed REITs and advises them regarding offerings, manages relationships with participating broker-dealers and financial advisors and provides assistance in connection with compliance matters relating to the offerings. The Company receives compensation and reimbursement for services relating to the Managed REITs’ offerings and the investment, management and disposition of their respective assets, as applicable.
Cole Capital Offering Related Revenue
The Company generally receives a selling commission of up to 7.0% of gross offering proceeds related to the sale of shares of CCPT IV, CCIT II and CCPT V common stock in their primary offerings, before reallowance of commissions earned by participating broker-dealers. The Company has and intends to continue to reallow 100% of selling commissions earned to participating broker-dealers. In addition, the Company generally receives 2.0% of gross offering proceeds in the primary offerings, before reallowance to participating broker-dealers, as a dealer-manager fee in connection with the sale of CCPT IV, CCIT II and CCPT V shares of common stock. The Company, in its sole discretion, may reallow all or a portion of its dealer-manager fee to such participating broker-dealers as a marketing and due diligence expense reimbursement, based on factors such as the volume of shares sold by such participating broker-dealers and the amount of marketing support provided by such participating broker-dealers. No selling commissions or dealer-manager fees are paid to the Company or other broker-dealers with respect to shares sold under the respective Managed REIT’s distribution reinvestment plans, under which the stockholders may elect to have distributions reinvested in additional shares.
In connection with the sale of INAV shares of common stock, the Company receives an asset-based dealer-manager fee that is payable in arrears on a monthly basis and accrues daily in an amount equal to (i) 1/365th of 0.55% of the net asset value (“NAV”) for Wrap Class shares of common stock (“W Shares”) for such day, (ii) 1/365th of 0.55% of the NAV for Advisor Class shares of common stock (“A Shares”) for such day and (iii) 1/365th of 0.25% of the NAV for Institutional Class shares of common stock (“I Shares”) for such day. The Company, in its sole discretion, may reallow a portion of its dealer-manager fee received on W Shares, A Shares and I Shares to participating broker-dealers. In addition, the Company receives a selling commission on A Shares sold in the primary offering of up to 3.75% of the offering price per share for A Shares. The Company has and intends to continue to reallow 100% of selling commissions earned to participating broker-dealers. The Company also receives an asset-based distribution fee for A Shares that is payable in arrears on a monthly basis and accrues daily in an amount equal to 1/365th of 0.50% of the NAV for A Shares for such day. The Company, in its sole discretion, may reallow a portion of the distribution fee to participating broker-dealers. No selling commissions are paid to the Company or other broker-dealers with respect to W Shares or I Shares or on shares of any class of INAV common stock sold pursuant to INAV’s distribution reinvestment plan, under which the stockholders may elect to have distributions reinvested in additional shares, and no distribution fees are paid to the Company or other broker-dealers with respect to W Shares or I Shares.
All other organization and offering expenses associated with the sale of the Managed REITs’ common stock (excluding selling commissions, if applicable, and the dealer-manager fee) are paid for in advance by the Company and subject to reimbursement by the Managed REITs, up to certain limits per the respective advisory agreement. The organization and offering expenses incurred by the Company which are subject to reimbursement included costs which are paid to affiliates. The organization and offering expenses incurred by the Company which are subject to reimbursement include costs which are paid to affiliates. As these costs are incurred, they are recorded as reimbursement revenue, up to the respective limit, and are included in dealer-manager fees, selling commissions and offering reimbursements in the financial results for Cole Capital in Note 6 — Segment Reporting (As Restated). Expenses paid on behalf of the Managed REITs in excess of these limits that are expected to be collected are recorded as program development costs. As of March 31, 2014, the Company had $3.6 million of organization and offering costs paid on behalf of the Managed REITs in excess of the limits that have not been reimbursed, which are expected to be reimbursed by the Managed REITs as they raise additional proceeds from the respective offering. The program development costs are included in deferred costs and other assets, net in the accompanying consolidated balance sheets.
The Company recorded commissions, fees and expense reimbursements as shown in the table below for services provided to the Managed REITs (as described above) during the period from the Cole Acquisition Date to March 31, 2014 (in thousands). As the Company did not commence operations for Cole Capital until the Cole Acquisition Date, comparative financial data is not presented for the three months ended March 31, 2013.


		Period from the Cole Acquisition Date to March 31, 2014
		CCPT IV			CCPT V			CCIT			CCIT II			INAV			Total
Offering:
Selling commission revenue		$	29,125		$	—		$	—		$	371		$	21		$	29,517
Selling commissions reallowance expense		$	29,125		$	—		$	—		$	371		$	21		$	29,517
Dealer-manager and distribution fee revenue		$	8,773		$	—		$	—		$	114		$	65		$	8,952
Dealer-manager fees reallowance expense		$	4,864		$	—		$	—		$	53		$	2		$	4,919
Other expense reimbursement revenue		$	3,767		$	50		$	—		$	114		$	53		$	3,984
Cole Capital Operating Revenue
The Company earns acquisition fees related to the acquisition, development or construction of properties on behalf of certain of the Managed REITs. In addition, the Company is reimbursed for acquisition expenses incurred in the process of acquiring properties up to certain limits per the respective advisory agreement. The Company is not reimbursed for personnel costs in connection with services for which it receives acquisition fees or real estate commissions. In addition, the Company may earn disposition fees related to the sale of one or more properties, including those held indirectly through joint ventures, on behalf of a Managed REIT. Acquisition and disposition fees and reimbursements, as applicable, are included in transaction service fees in the financial results for Cole Capital in Note 6 — Segment Reporting (As Restated).
The Company earns advisory and asset and property management fees from certain Managed REITs and other affiliates. In addition, the Company may be reimbursed for expenses incurred in providing advisory and asset and property management services, subject to certain limitations. In connection with services provided by the Company related to the origination or refinancing of any debt financing obtained by certain Managed REITs that is used 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 is reimbursed for financing expenses incurred, subject to certain limitations. Advisory fees, asset and property management fees and reimbursements of expenses are included in management fees and reimbursements in the financial results for Cole Capital in Note 6 — Segment Reporting (As Restated).
The Company recorded fees and expense reimbursements as shown in the table below for services provided primarily to the Managed REITs (as described above) during the period from the Cole Acquisition Date to March 31, 2014 (in thousands). As the Company did not commence operations for Cole Capital until the Cole Acquisition Date, comparative financial data is not presented for the three months ended March 31, 2013.


		Period from the Cole Acquisition Date to March 31, 2014
		CCPT IV			CCPT V			CCIT			CCIT II			INAV			Other		Total
Operations:
Acquisition fee revenue		$	3,998		$	66		$	495		$	—		$	—		$	—	$	4,559
Asset management fee revenue		$	—		$	—		$	—		$	—		$	—		$	151	$	151
Property management and leasing fee revenue		$	—		$	—		$	—		$	—		$	—		$	290	$	290
Operating expense reimbursement revenue		$	1,065		$	17		$	429		$	—		$	—		$	—	$	1,511
Advisory and performance fee revenue		$	2,564		$	—		$	2,595		$	26		$	108		$	—	$	5,293
Investment in the Managed REITs
As of March 31, 2014, the Company owned aggregate equity investments of $5.1 million in the Managed REITs, which is included in investment in unconsolidated entities in the accompanying consolidated balance sheet. The table below presents certain information related to the Company’s investments in the Managed REITs as of March 31, 2014 (carrying amount in thousands):


		March 31, 2014
Managed REIT		% of Outstanding			Carrying Amount
Managed REIT		Shares Owned			of Investment
CCPT			0.01	%	$	5
CCPT IV			0.01	%		140
CCPT V			100	%		2,517
CCIT			0.01	%		97
CCIT II			33.14	%		2,139
INAV			0.28	%		163

					$	5,061

Due from Affiliates
As of March 31, 2014, $8.7 million was expected to be collected from affiliates, including balances from the Managed REITs lines of credits, as well as balances for services provided by the Company and expenses subject to reimbursement by the Managed REITs in accordance with their respective advisory and property management agreements and was included in due from affiliates on the accompanying consolidated balance sheet. In connection with the Cole Merger, the Company acquired two secured revolving line of credit agreements that provide for an aggregate of $2.9 million of available borrowings to CCPT, and a revolving line of credit agreement that provides for $10.0 million of available borrowings to CCIT II. In addition, during the three months ended March 31, 2014, the Company entered into a revolving line of credit agreement that provides for $10.0 million of available borrowings to CCPT V. The CCPT line of credit agreements each bear a fixed interest rate of 5.75%, mature in March 2015 and are secured by a single retail property. The CCIT II and CCPT V line of credit agreements each bear an interest rate equal to the one-month LIBOR plus 2.20% and mature in January 2015 and March 2015, respectively. During the three months ended March 31, 2014, CCPT borrowed $0.3 million on one of the lines of credit, and CCIT II and CCPT V borrowed $1.9 million and $1.0 million, respectively, on their lines of credit. These borrowings are included in due from affiliates in the accompanying consolidated balance sheets.

Economic_Dependency

Economic Dependency	3 Months Ended
Economic Dependency	Mar. 31, 2014
Text Block [Abstract]
Economic Dependency	Note 21 — Economic Dependency
	Prior to transitioning to self-management on January 8, 2014, the Company engaged, under various agreements, the Former Manager and entities affiliated with the Former Manager to provide certain services that are essential to the Company, including asset management services and supervision of the management and leasing of properties owned by the Company, the sale of shares of the Company’s common stock, as well as other administrative responsibilities for the Company including information technology, legal services and investor relations.

	As a result of these relationships, the Company was dependent upon the Former Manager its affiliates and entities affiliated with the Former Manager. In the event that these companies were unable to provide the Company with the respective services, the Company would have been required to find alternative providers of these services. As a result of the ARCT III Merger, the Company internalized certain accounting and property acquisition services previously performed by its Former Manager and its affiliates. The Company may from time to time engage entities affiliated with the Former Manager for legal, information technology or other support services for which it will pay a fee, subject to approval by the Company’s independent directors.

Net_Loss_Per_Share_As_Restated

Net Loss Per Share (As Restated)	3 Months Ended
Net Loss Per Share (As Restated)	Mar. 31, 2014
Earnings Per Share [Abstract]
Net Loss Per Share (As Restated)	Note 22 — Net Loss Per Share (As Restated)
	The Company’s unvested restricted stock and LTIPs contain non-forfeitable rights to dividends and are considered to be participating securities in accordance with GAAP and, therefore, are included in the computation of earnings per share under the two-class method. Under the two-class computation method, net losses are not allocated to participating securities unless the holder of the security has a contractual obligation to share in the losses. The unvested restricted stock and LTIPS are not allocated losses as the awards do not have a contractual obligation to share in losses of the Company. The two-class method is an earnings allocation formula that determines earnings per share for each class of common shares and participating securities according to dividends declared (or accumulated) and participation rights in undistributed earnings.
	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 (dollar amounts in thousands, except for per share data):


		Three Months Ended March 31,
		2014			2013
		(As Restated)			(As Restated)
	Net loss attributable to the Company	$	(291,444	)	$	(143,880	)
	Less: dividends declared on preferred shares and participating securities		23,432			193

	Net loss attributable to common stockholders		(314,876	)		(144,073	)
	Weighted average shares of common stock outstanding		547,470,457			167,847,516

	Basic and diluted net loss per share attributable to common stockholders	$	(0.58	)	$	(0.86	)

	As of March 31, 2014, the Company excluded 24,836,863 OP Units outstanding, which are convertible to an equal number of shares of the Company’s common stock, 6,176,996 shares of unvested restricted stock outstanding, 21,735,008 shares of the Company’s Series D Convertible Preferred Stock outstanding from the calculation of diluted net loss per share as the effect would have been antidilutive.

Property_Dispositions

Property Dispositions	3 Months Ended
Property Dispositions	Mar. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]
Property Dispositions	Note 23 — Property Dispositions
	During the three months ended March 31, 2014, the Company disposed of 16 single-tenant properties and one multi-tenant property for an aggregate gross sales price of $60.3 million (the “2014 Property Dispositions”). There were no properties disposed of during the three months ended March 31, 2013. No disposition fees were paid in connection with the sale of the 2014 Property Dispositions and the Company has no continuing involvement with these properties.
	As of March 31, 2014, there were no properties classified as held for sale. As of December 31, 2013, the Company classified one property as held for sale, which has been presented as discontinued operations on the Company’s consolidated statements of operations.

Income_Taxes_As_Restated

Income Taxes (As Restated)	3 Months Ended
Income Taxes (As Restated)	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Income Taxes (As Restated)	Note 24 — Income Taxes (As Restated)
	As a REIT, the Company generally is not subject to federal income tax, with the exception of its TRS. However, the Company, including its TRS, is still subject to certain state and local income taxes in the various jurisdictions in which it operates.

	Based on the above, Cole Capital, substantially all of which is conducted through a TRS, recognized a benefit from federal and state income taxes of $6.2 million for the three months ended March 31, 2014, which is included in other income, net in the accompanying consolidated statement of operations. No provision or benefit for income taxes was recognized for the three months ended March 31, 2013 as the Company did not commence operations for Cole Capital until the Cole Acquisition Date. The difference in the benefit from income taxes reflected in the consolidated statements of operations as compared to the benefit calculated at the statutory federal income tax rate is primarily attributable to various permanent differences and state and local income taxes.
	The REI segment recognized state income and franchise taxes of $1.1 million during the three months ended March 31, 2014 and $0.2 million during the three months ended March 31, 2013, which are included in general and administrative expenses in the accompanying consolidated statements of operations.
	The Company had no unrecognized tax benefits as of or during the three months ended March 31, 2014 and 2013. Any interest and penalties related to unrecognized tax benefits would be recognized within the provision for income taxes in the accompanying consolidated statements of operations. The Company files income tax returns in the U.S. federal jurisdiction, as well as various state jurisdictions, and is subject to routine examinations by the respective tax authorities. With few exceptions, the Company is no longer subject to federal or state examinations by tax authorities for years before 2010.

Subsequent_Events_As_Restated

Subsequent Events (As Restated)	3 Months Ended
Subsequent Events (As Restated)	Mar. 31, 2014
Subsequent Events [Abstract]
Subsequent Events (As Restated)	Note 25 — Subsequent Events (As Restated)
Subsequent Events (As Restated)	Significant events that occurred subsequent to March 31, 2014 are detailed within the Amended 10-K. Please refer to Note 24 — Subsequent Events (As Restated) in the Amended 10-K.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (As Restated) (Policies)

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

Basis of Accounting

Principles of Consolidation and Basis of Presentation

The Company continually evaluates the need to consolidate joint ventures and the managed investment programs based on standards set forth in GAAP as described above.

Investment in Unconsolidated Entities

Investment in Unconsolidated Joint Ventures

Investment in Managed REITs

Leasehold Improvements and Property and Equipment

Impairments

Investment in Unconsolidated Entities

No impairment losses were recorded related to the Company’s unconsolidated entities for the period from the Cole Acquisition Date to March 31, 2014.

Leasehold Improvements and Property and Equipment

Goodwill

The following summarizes the Company’s goodwill activity during the three months ended March 31, 2014 by segment (in thousands):

REI Segment

Cole Capital

Consolidated

Balance as of January 1, 2014

92,789

—

92,789

Cole Merger (1)

1,654,085

558,835

2,212,920

Goodwill allocated to dispositions (2)

(7,032

)

—

(7,032

)

Balance as of March 31, 2014

1,739,842

558,835

2,298,677

-1

-2

Program Development Costs

Acquisition Related Expenses and Merger and Other Non-routine Transaction Related Expenses

Merger and other non-routine transaction related expenses include the following costs (amounts in thousands):

Three Months Ended March 31,

2014

2013

(As Restated)

Merger related costs:

Strategic advisory services

32,615

10,299

Transfer taxes

5,109

1,085

Legal fees and expenses

2,984

1,680

Multi-tenant spin off

2,321

Other fees and expenses

1,330

2,865

Personnel costs and other reimbursements

751

384

Other non-routine costs:

Subordinated distribution fees

78,244

98,360

Post-transaction support services

14,251

2,000

Furniture, fixtures and equipment

14,085

5,800

Legal fees and expenses

1,826

950

Personnel costs and other reimbursement

2,443

Other fees and expenses

4,339

145

Total

160,298

123,568

Due from Affiliates

Reportable Segments

Revenue Recognition - Cole Capital

Income Taxes

Repurchase Agreements

Recent Accounting Pronouncements

Restatement_of_Previously_Issu1

Restatement of Previously Issued Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2014
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	March 31, 2014 and December 31, 2013 Restated Consolidated Balance Sheets


			March 31, 2014																December 31, 2013
			As				Reclassifications				Restatement				As Restated				As				Reclassifications				Restatement				As
			Previously								Adjustments								Previously								Adjustments				Restated
			Reported																Reported (1)
	ASSETS
	Real estate investments, at cost:
	Land		$	3,226,615			$	—			$	(2,358	)		$	3,224,257			$	1,379,453			$	—			$	855			$	1,380,308
	Buildings, fixtures and improvements			11,841,722				(3,565	)			(1,502	)			11,836,655				5,291,031				—				6,369				5,297,400
	Land and construction in progress			40,459				—				—				40,459				21,839				—				—				21,839
	Acquired intangible lease assets			2,209,747				382				(227	)			2,209,902				758,376				382				837				759,595

	Total real estate investments, at cost			17,318,543				(3,183	)			(4,087	)			17,311,273				7,450,699				382				8,061				7,459,142
	Less: accumulated depreciation and amortization			(422,355	)			(167	)			(6,044	)			(428,566	)			(267,352	)			(155	)			229				(267,278	)

	Total real estate investments, net			16,896,188				(3,350	)			(10,131	)			16,882,707				7,183,347				227				8,290				7,191,864
	Investment in unconsolidated entities			105,775				—				—				105,775				—				—				—				—
	Investment in direct financing leases, net			65,723				—				—				65,723				66,112				—				—				66,112
	Investment securities, at fair value			213,803				—				—				213,803				62,067				—				—				62,067
	Loans held for investment, net			98,185				—				—				98,185				26,279				—				—				26,279
	Cash and cash equivalents			83,067				—				149				83,216				52,725				—				—				52,725
	Derivative assets, at fair value (2)			—				—				—				—				9,189				(9,189	)			—				—
	Restricted cash			55,559				—				—				55,559				35,921				—				—				35,921
	Intangible assets, net			371,634				—				—				371,634				—				—				—				—
	Deferred costs and other assets, net			294,694				3,350				6,053				304,097				—				281,326				—				281,326
	Prepaid expenses and other assets,			—				—				—				—				187,930				(186,726	)			(1,204	)			—
	net (2)			—				—				—				—				187,930				(186,726	)			(1,204	)			—
	Goodwill			2,287,122				—				11,555				2,298,677				102,419				—				(9,630	)			92,789
	Due from affiliates			8,550				—				169				8,719				—				—				—				—
	Deferred costs, net (2)			—				—				—				—				81,311				(84,973	)			3,662				—
	Assets held for sale			—				—				—				—				679				(665	)			(14	)			—

	Total assets		$	20,480,300			$	—			$	7,795			$	20,488,095			$	7,807,979			$	—			$	1,104			$	7,809,083

	LIABILITIES AND EQUITY
	Mortgage notes payable, net		$	4,234,668			$	—			$	(594	)		$	4,234,074			$	1,301,114			$	—			$	—			$	1,301,114
	Corporate bonds, net			2,545,884				—				—				2,545,884				—				—				—				—
	Convertible debt, net			973,737				—				—				973,737				972,490				—				—				972,490
	Senior corporate credit facilities (3)			—				—				—				—				1,819,800				(1,819,800	)			—				—
	Secured credit facility (3)			—				—				—				—				150,000				(150,000	)			—				—
	Credit facilities			2,415,800				—				—				2,415,800				—				1,969,800				—				1,969,800
	Other debt, net			148,809				—				—				148,809				104,804				—				—				104,804
	Below-market lease liabilities, net			287,199				—				(620	)			286,579				77,789				—				(620	)			77,169
	Derivative liabilities, at fair value (4)			—				—				—				—				18,455				(18,455	)			—				—
	Accounts payable and accrued expenses			143,860				—				5,682				149,542				808,900								(78,329	)			730,571
	Deferred rent, derivative and other liabilities			195,826				—				10,279				206,105				21,816				18,455				—				40,271
	Distributions payable			4,414				—				6,819				11,233				10,278				—				625				10,903
	Due to affiliates			217				—				2,397				2,614				—								103,434				103,434

	Total liabilities			10,950,414				—				23,963				10,974,377				5,285,446				—				25,110				5,310,556

	Series D preferred stock, $0.01 par value, 21,735,008 shares (part of 100,000,000 aggregate preferred shares authorized) issued and outstanding at March 31, 2014 and December 31, 2013, respectively		$	269,299			$	—			$	—			$	269,299			$	269,299			$	—			$	—			$	269,299
	Preferred stock (excluding Series D Preferred Stock), $0.01 par value, 100,000,000 shares authorized and 42,654,919 and 42,199,547 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively			427				—				—				427				422				—				—				422
	Common stock, $0.01 par value, 1,500,000,000 and 750,000,000 shares authorized and 769,931,938 and 239,234,725 issued and outstanding at March 31, 2014 and December 31, 2013, respectively			7,699				—				—				7,699				2,392				—				—				2,392
	Additional paid-in capital			10,305,815				(4,437	)			790				10,302,168				2,939,287				—				1,620				2,940,907
	Accumulated other comprehensive income			13,397				—				(4,934	)			8,463				7,666				—				—				7,666
	Accumulated deficit			(1,365,467	)			269				6,455				(1,358,743	)			(864,516	)			—				(13,441	)			(877,957	)

	Total stockholders’ equity			8,961,871				(4,168	)			2,311				8,960,014				2,085,251				—				(11,821	)			2,073,430
	Non-controlling interests			298,716				4,168				(18,479	)			284,405				167,983				—				(12,185	)			155,798

	Total equity			9,260,587				—				(16,168	)			9,244,419				2,253,234				—				(24,006	)			2,229,228

Total liabilities and equity		$	20,480,300			$	—			$	7,795			$	20,488,095			$	7,807,979			$	—			$	1,104			$	7,809,083


	-1	These financial statements have been recast in applying the carryover basis of accounting to include the effects of the merger with ARCT IV.
	-2	This line item caption has been reclassified and included within deferred costs and other assets, net in the accompanying consolidated balance sheets for the period ended March 31, 2014.
	-3	This line item caption has been reclassified and included within credit facilities in the accompanying consolidated balance sheets for the period ended March 31, 2014.
	-4	This line item caption has been reclassified and included within deferred rent, derivative and other liabilities in the accompanying consolidated balance sheets for the period ended March 31, 2014.

March 31, 2013 Restated Consolidated Balance Sheet


		March 31, 2013
		As Previously				ARCT IV				Reclassifications				Restatement				As Restated
		Reported				Adjustments (1)				Reclassifications				Adjustments				As Restated
ASSETS
Real estate investments, at cost:
Land		$	298,280			$	39,326			$	—			$	—			$	337,606
Buildings, fixtures and improvements			1,521,505				161,868				—				—				1,683,373
Land and construction in progress			—				—				—				—				—
Acquired intangible lease assets			241,501				24,875				347				—				266,723

Total real estate investments, at cost			2,061,286				226,069				347				—				2,287,702
Less: accumulated depreciation and amortization			(81,207	)			(1,954	)			(121	)							(83,282	)

Total real estate investments, net			1,980,079				224,115				226				—				2,204,420
Investment securities, at fair value			4				61,600				—				—				61,604
Cash and cash equivalents			52,412				1,067,095				—				—				1,119,507
Restricted cash			1,287				—				—				—				1,287
Deferred costs and other assets, net			—				—				229,320				(698	)			228,622
Prepaid expenses and other assets, net			15,397				6,129				(21,526	)			—				—
Receivable for issuances of common stock			—				169,097				(169,097	)			—				—
Deferred costs, net			38,244				—				(38,244	)			—				—
Assets held for sale			679				—				(679	)			—				—

Total assets		$	2,088,102			$	1,528,036			$	—			$	(698	)		$	3,615,440

LIABILITIES AND EQUITY
Mortgage notes payable, net		$	265,118			$	—			$	—			$	—			$	265,118
Senior corporate credit facilities			640,000				—				—				—				640,000
Derivative liabilities, at fair value			5,012				—				—				—				5,012
Accounts payable and accrued expenses			6,589				641,094				(138	)			(484	)			647,061
Deferred rent and other liabilities			5,270				148				138				—				5,556
Distributions payable			92				6,619				—				62				6,773
Due to affiliates			—				—				—				1,569				1,569

Total liabilities			922,081				647,861				—				1,147				1,571,089

Series A convertible preferred stock, $0.01 par value, 545,454 shares (liquidation preference $11.00 per share) authorized, issued and outstanding at March 31, 2013			5				—				(5	)			—				—
Series B convertible preferred stock, $0.01 par value, 283,018 shares (liquidation preference $10.60 per share) authorized, issued and outstanding at March 31, 2013			3				—				(3	)			—				—
Preferred stock (excluding Series D Preferred Stock), $0.01 par value, 100,000,000 shares authorized and 35,863,711 shares issued and outstanding at March 31, 2013			—				412				8				—				420
Common stock, $0.01 par value, 240,000,000 shares authorized, 154,322,183 issued and outstanding at March 31, 2013			1,543				361				—				—				1,904
Additional paid-in capital			1,335,863				898,056				(615	)			3,035				2,236,339
Accumulated other comprehensive income			(5,018	)			335				—				—				(4,683	)
Accumulated deficit			(290,484	)			(18,989	)			—				(2,433	)			(311,906	)

Total stockholders’ equity			1,041,912				880,175				(615	)			602				1,922,074
Non-controlling interests			124,109				—				615				(2,447	)			122,277

Total equity		$	1,166,021			$	880,175			$	—			$	(1,845	)		$	2,044,351

Total liabilities and equity		$	2,088,102			$	1,528,036			$	—			$	(698	)		$	3,615,440


-1	Adjustments to financial statements in order to apply the carryover basis of accounting to include the effects of the merger with ARCT IV.

Restated Consolidated Statements of Operations


		March 31, 2014																March 31, 2013
		As				Reclassifications				Restatement				As Restated				As Previously				Reclassifications				Restatement				As Restated
		Previously								Adjustments								Reported								Adjustments
		Reported
Revenues:
Rental income		$	244,445			$	—			$	(30	)		$	244,415			$	40,987			$	—			$	—			$	40,987
Direct financing lease income			1,006				—				—				1,006				—				—				—				—
Operating expense reimbursements			21,096				—				380				21,476				1,910				—				—				1,910
Cole Capital revenue			54,067				190				—				54,257				—				—				—				—

Total revenues			320,614				190				350				321,154				42,897				—				—				42,897

Operating expenses:
Cole Capital reallowed fees and commissions			34,436				—				—				34,436				—				—				—				—
Acquisition related			11,884				—				1,533				13,417				10,327				—				—				10,327
Merger and other transaction related (1)			222,192				—				(61,894	)			160,298				137,769				—				(14,201	)			123,568
Property operating			29,627				31				97				29,755				2,549				—				—				2,549
Operating fees to affiliate (2)			—				—				13,888				13,888				—				—				12,493				12,493
General and administrative			26,839				(31	)			29,684				56,492				1,454				—				6,318				7,772
Equity-based compensation (3)			22,510				—				(22,510	)			—				881				—				(881	)			—
Depreciation and amortization			165,363				—				8,479				173,842				26,753				—				—				26,753

Total operating expenses			512,851				—				(30,723	)			482,128				179,733				—				3,729				183,462

Operating loss			(192,237	)			190				31,073				(160,974	)			(136,836	)			—				(3,729	)			(140,565	)

Other (expense) income:
Interest expense, net			(116,712	)			(3,653	)			(586	)			(120,951	)			(6,056	)			(146	)			(599	)			(6,801	)
Extinguishment of debt, net (4)			—				—				(9,399	)			(9,399	)			—				—				—				—
Other income, net			5,512				3,463				1,235				10,210				853				146				—				999
Loss on derivative instruments, net			(20,197	)			—				13,076				(7,121	)			(5	)			—				—				(5	)
Gain on disposition of properties, net (5)			2,979				—				(20,584	)			(17,605	)			—				—				—				—
Gain on sale of investments			—				—				—				—				451				—				—				451

Total other expenses, net			(128,418	)			(190	)			(16,258	)			(144,866	)			(4,757	)			—				(599	)			(5,356	)

Net loss from continuing operations			(320,655	)			—				14,815				(305,840	)			(141,593	)			—				(4,328	)			(145,921	)

Discontinued operations:
Loss from operations of held for sale properties			—				—				—				—				(16	)			—				—				(16	)
Gain on held for sale properties			—				—				—				—				14				—				(14	)			—

Net loss from discontinued operations			—				—				—				—				(2	)			—				(14	)			(16	)
Net loss			(320,655	)			—				14,815				(305,840	)			(141,595	)			—				(4,342	)			(145,937	)
Net loss attributable to non-controlling interest			11,974				—				2,422				14,396				432				—				1,625				2,057

Net loss attributable to the Company		$	(308,681	)		$	—			$	17,237			$	(291,444	)		$	(141,163	)		$	—			$	(2,717	)		$	(143,880	)

Basic and diluted net loss per share attributable to common stockholders		$	(0.61	)		$	—			$	0.03			$	(0.58	)		$	(0.84	)		$	—			$	(0.02	)		$	(0.86	)

-1	This line item caption has been updated to merger and other non-routine transactions in the accompanying consolidated statements of operations.

-2	This line item caption has been updated to management fees to affiliates in the accompanying consolidated statements of operations.
-3	As disclosed above, this line item caption has been reclassified into general and administrative in the accompanying consolidated statements of operations.
-4	This line item caption has been added and is included in the accompanying consolidated statements of operations for the period ended March 31, 2014.
-5	This line item caption has been updated to loss on disposition of properties, net in the accompanying consolidated statements of operations.
Restated Statements of Comprehensive Loss


		March 31, 2014																March 31, 2013
		As				Reclassifications				Restatement				As Restated				As				Reclassifications				Restatement				As Restated
		Previously								Adjustments								Previously								Adjustments
		Reported																Reported
Net loss (1)		$	(320,655	)		$	—			$	14,815			$	(305,840	)		$	(141,595	)		$	—			$	(4,342	)		$	(145,937	)
Other comprehensive income (loss):
Designated derivatives, fair value adjustments			2,636				—				(4,934	)			(2,298	)			(1,177	)			—				—				(1,177	)
Unrealized gain (loss) on investment securities			3,095				—				—				3,095				428				—				—				428

Total other comprehensive income (loss)			5,731				—				(4,934	)			797				(749	)			—				—				(749	)

Total comprehensive loss			(314,924	)			—				9,881				(305,043	)			(142,344	)			—				(4,342	)			(146,686	)
Comprehensive loss attributable to non-controlling interests			11,974				—				2,422				14,396				432				—				1,625				2,057

Total comprehensive income attributable to the Company (2)		$	(302,950	)		$	—			$	12,303			$	(290,647	)		$	(141,912	)		$	—			$	(2,717	)		$	(144,629	)


-1	The statement of comprehensive loss previously began with net loss attributable to common stockholders . The statement has been updated to begin with net loss to properly show the total comprehensive loss.
-2	This line item caption has been added and is included in the accompanying statement of comprehensive loss for the period ended March 31, 2014.
Restated Statements of Cash Flows


		March 31, 2014																March 31, 2013
		As				Reclassifications				Restatement				As Restated				As				Reclassifications				Restatement				As Restated
		Previously								Adjustments								Previously								Adjustments
		Reported																Reported
Cash flows from operating activities:
Net loss		$	(320,655	)		$	—			$	14,815			$	(305,840	)		$	(141,595	)		$	—			$	(4,342	)		$	(145,937	)
Adjustments to reconcile net loss to net cash used in operating activities:
Issuance of OP Units			153,884				—				(61,000	)			92,884				108,247				—				(476	)			107,771
Depreciation and amortization (1)			—				185,177				28,863				214,040				—				—				—				—
Depreciation (1)			111,015				(111,015	)			—				—				21,474				—				599				22,073
Amortization of intangible lease assets (1)			40,159				(40,159	)			—				—				5,279				—				—				5,279
Amortization of deferred costs (1)			38,064				(38,064	)			—				—				1,222				—				—				1,222
Amortization of above- and below-market lease asset (1)			358				(358	)			—				—				68				—				—				68
Amortization of intangible assets (1)			13,992				(13,992	)			—				—				—				—				—				—
Amortization of discounts and premiums (1)			(18,411	)			18,411				—				—				—				—				—				—
Gain (loss) on disposition of properties			(2,979	)			—				20,584				17,605				(14	)			—				14				—
Equity-based compensation		$	22,510			$	—			$	(936	)		$	21,574			$	3,260			$	—			$	73			$	3,333
Equity in income of unconsolidated entities			(251	)			—				—				(251	)			—				—				—				—
Distributions from unconsolidated entities(2)			—				—				941				941				—				—				—				—
Net direct financing lease adjustments (3)			—				—				—				—				—				—				—				—
Loss (gain) on derivative instruments			8,048				—				(927	)			7,121				5				—				—				5
Loss (gain) on sale of investments, net			—				—				—				—				(451	)			—				—				(451	)
Loss on extinguishment of debt			15,681				—				(35,309	)			(19,628	)			—				—				—				—
Changes in assets and liabilities:
Investment in direct financing leases			(3,104	)			—				3,493				389				—				—				—				—
Deferred costs and other assets			3,348				—				4,597				7,945				(4,710	)			—				—				(4,710	)
Due from affiliates			(8,349	)			—				31				(8,318	)			—				—				—				—
Accounts payable and accrued expenses			(148,052	)			—				74,657				(73,395	)			(1,960	)			—				(484	)			(2,444	)
Deferred rent and other liabilities			(12,365	)			—				(24,266	)			(36,631	)			1,024				—				—				1,024
Due to affiliates			981				—				(42,245	)			(41,264	)			—				—				1,569				1,569

Net cash used in operating activities			(106,126	)			—				(16,702	)			(122,828	)			(8,151	)			—				(3,047	)			(11,198	)

Cash flows from investing activities:
Investments in real estate and other assets			(672,856	)			—				38,315				(634,541	)			(412,628	)			—				1,041				(411,587	)
Acquisition of a real estate business, net of cash acquired			(681,510	)			—				(1,730	)			(683,240	)			—				—				—				—
Capital expenditures			(4,796	)			—				1,684				(3,112	)			—				—				—				—
Real estate developments (2)			—				—				(13,044	)			(13,044	)			—				—				—				—
Return of investment from unconsolidated entities (3)			941				—				(941	)			—								—				—				—
Principal repayments received from borrowers			3,062				—				—				3,062				—				—				—				—
Investments in unconsolidated entities			(2,500	)			—				—				(2,500	)			—				—				—				—
Proceeds from disposition of properties			60,036				—				749				60,785				—				—				—				—
Investment in intangible assets			(258	)			—				—				(258	)			—				—				—				—
Deposits for real estate investments			(55,029	)			—				16,816				(38,213	)			(7,769	)			—				—				(7,769	)
Uses and refunds of deposits for real estate investments			137,688				—				—				137,688				—				—				—				—
Purchases of investment securities			—				—				—				—				(63,269	)			—				—				(63,269	)
Line of credit advances to affiliates			(36,000	)			—				35,000				(1,000	)			—				—				—				—
Line of credit repayments from affiliates			39,100				—				(35,200	)			3,900				—				—				—				—
Proceeds from sale of investment securities			—				—				—				—				44,198				—				—				44,198
Change in restricted cash			—				—				(3,934	)			(3,934	)			—				—				—				—

Net cash used in investing activities			(1,212,122	)			—				37,715				(1,174,407	)			(439,468	)			—				1,041				(438,427	)

Cash flows from financing activities:
Proceeds from mortgage notes payable		$	669,336			$	—			$	—			$	669,336			$	—			$	—			$	—			$	—
Payments on mortgage notes payable			(739,087	)			—				(593	)			(739,680	)			—				—				—				—
Payments on other debt			(4,938	)			—				—				(4,938	)			—				—				—				—
Proceeds from credit facilities			2,131,000				—				—				2,131,000				675,000				—				—				675,000
Payments on credit facilities			(2,994,000	)			—				—				(2,994,000	)			(159,604	)			—				—				(159,604	)
Proceeds from corporate bonds			2,545,760				—				—				2,545,760				—				—				—				—
Payments of deferred financing costs			(43,037	)			—				(23,797	)			(66,834	)			(24,587	)			—				(956	)			(25,543	)
Common stock repurchases			—				—				—				—				(350,522	)			—				—				(350,522	)
Proceeds from issuances of common stock			—				—				—				—				1,317,389				—				—				1,317,389
Payments of offering costs and fees related to stock issuances			(1,715	)			—				(418	)			(2,133	)			(138,578	)			—				(73	)			(138,651	)
Consideration to Former Manager for internalization			—				—				—				—				(3,035	)			—				3,035				—
Contributions from non-controlling interest holders			279				—				—				279				750				—				—				750
Distributions to non-controlling interest holders			(9,589	)			—				101				(9,488	)			(921	)			—				—				(921	)
Distributions paid			(201,485	)			—				(91	)			(201,576	)			(40,636	)			—				—				(40,636	)
Payments to affiliates, net			—				—				—				—				(526	)			—				—				(526	)
Change in restricted cash			(3,934	)			—				3,934				—				(179	)			—				—				(179	)

Net cash provided by financing activities			1,348,590				—				(20,864	)			1,327,726				1,274,551				—				2,006				1,276,557

Net change in cash and cash equivalents			30,342				—				149				30,491				826,932				—				—				826,932
Cash and cash equivalents, beginning of period			52,725				—				—				52,725				292,575				—				—				292,575

Cash and cash equivalents, end of period		$	83,067			$	—			$	149			$	83,216			$	1,119,507			$	—			$	—			$	1,119,507

Supplemental Disclosures:
Cash paid for interest		$	52,518			$	—			$	(186	)		$	52,332			$	1,363			$	—			$	—			$	1,363
Cash paid for income taxes		$	—			$	—			$	7,616			$	7,616			$	222			$	—			$	—			$	222

Non-cash investing and financing activities:
Common stock issued through distribution reinvestment plan		$	—			$	—			$	—			$	—			$	7,498			$	—			$	—			$	7,498

-1	These five depreciation and amortization line item captions have been consolidated into one line item caption named depreciation and amortization in the accompanying consolidated statements of cash flows.
-2	This line item caption has been added and is included in the accompanying consolidated statements of cash flows for the period ended March 31, 2014.
-3	This line item has been removed from the accompanying consolidated statements of cash flows for the period ended March 31, 2014.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (As Restated) (Tables)	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]
Schedule of Goodwill	The following summarizes the Company’s goodwill activity during the three months ended March 31, 2014 by segment (in thousands):


			REI Segment			Cole Capital		Consolidated
	Balance as of January 1, 2014		$	92,789		$	—	$	92,789
	Cole Merger (1)			1,654,085			558,835		2,212,920
	Goodwill allocated to dispositions (2)			(7,032	)		—		(7,032	)

	Balance as of March 31, 2014		$	1,739,842		$	558,835	$	2,298,677


	-1	Goodwill recognized from the Cole Merger was assigned to the REI segment and Cole Capital based on the excess consideration paid over the fair value of the assets and liabilities acquired and assumed in each segment. Refer to Note 5 — Acquisitions of CapLease and Cole (As Restated) for further discussion.
	-2	Goodwill allocated to the cost basis of properties sold or classified as held for sale is included in loss on held for sale assets and disposition of properties, net, in the consolidated statement of operations.
Merger Related Costs And Other Non-Routine Costs	Merger and other non-routine transaction related expenses include the following costs (amounts in thousands):


			Three Months Ended March 31,
			2014			2013
			(As Restated)			(As Restated)
	Merger related costs:
	Strategic advisory services		$	32,615			10,299
	Transfer taxes			5,109			1,085
	Legal fees and expenses			2,984			1,680
	Multi-tenant spin off			2,321
	Other fees and expenses			1,330			2,865
	Personnel costs and other reimbursements			751			384
	Other non-routine costs:
	Subordinated distribution fees			78,244			98,360
	Post-transaction support services			14,251			2,000
	Furniture, fixtures and equipment			14,085			5,800
	Legal fees and expenses			1,826			950
	Personnel costs and other reimbursement			2,443
	Other fees and expenses			4,339			145

	Total		$	160,298		$	123,568

Acquisitions_of_CapLease_and_C1

Acquisitions of CapLease and Cole (As Restated) (Tables)	3 Months Ended
Acquisitions of CapLease and Cole (As Restated) (Tables)	Mar. 31, 2014
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed by segment at the Cole Acquisition Date (in thousands):


			Preliminary
			REI Segment			Cole Capital		Total as of Cole
			REI Segment			Cole Capital		Acquisition Date
	Identifiable Assets Acquired at Fair Value:
	Land		$	1,737,839		$	—	$	1,737,839
	Buildings, fixtures and improvements			5,901,827			—		5,901,827
	Intangible lease assets			1,324,217			—		1,324,217

	Total real estate investments			8,963,883			—		8,963,883
	Investment in unconsolidated entities			100,659			3,307		103,966
	Investment securities			151,197			—		151,197
	Loans held for investment			72,326			—		72,326
	Cash and cash equivalents			129,552			20,413		149,965
	Restricted cash			15,704			—		15,704
	Intangible assets			—			385,368		385,368
	Deferred costs and other assets			43,774			50,893		94,667
	Due from affiliates			—			3,301		3,301

	Total identifiable assets acquired			9,477,095			463,282		9,940,377

	Identifiable Liabilities Assumed at Fair Value:
	Mortgage notes payable			2,706,585			—		2,706,585
	Credit facilities			1,309,000			—		1,309,000
	Other debt			49,013			—		49,013
	Below-market lease liabilities			212,433			—		212,433
	Accounts payable and accrued expenses			87,628			54,615		142,243
	Deferred rent, derivative and other liabilities			67,841			167,458		235,299
	Dividends payable			6,271			—		6,271
	Due to affiliates			—			44		44

	Total liabilities assumed			4,438,771			222,117		4,660,888

	Non-controlling interests			24,766			—		24,766

	Net identifiable assets acquired			5,013,558			241,165		5,254,723
	Goodwill			1,654,085			558,835		2,212,920

	Net assets acquired		$	6,667,643		$	800,000	$	7,467,643

Schedule of Business Acquisitions, by Acquisition	The following table presents the allocation of the fair value of the assets acquired and liabilities assumed during the periods presented (dollar amounts in thousands):


			Three Months Ended March 31,
			2014			2013
	Real estate investments, at cost:
	Land		$	133,903		$	74,700
	Buildings, fixtures and improvements			694,935			291,664

	Total tangible assets			828,838			366,364

	Acquired intangible assets:
	In-place leases			120,421			45,223
	Above-market leases			11,559			—
	Assumed intangible liabilities:
	Below-market leases			(1,156	)		—
	Fair value adjustment of assumed notes payable			(23,589	)		—

	Total purchase price of assets acquired, net			936,073			411,587

	Notes payable assumed			(301,532	)		—
	Cash paid for acquired real estate investments		$	634,541		$	411,587

	Number of properties acquired			215			112

CapLease [Member]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table presents the allocation of the purchase price to the estimated fair value of the assets acquired and liabilities assumed at the CapLease Acquisition Date (in thousands):


			As of the CapLease
			Acquisition Date (1)
	Fair value of consideration given		$	920,697

	Assets purchased, at fair value:
	Land		$	235,843
	Buildings, fixtures and improvements			1,596,481
	Land and construction in process			12,352
	Acquired intangible lease assets			191,964

	Total real estate investments			2,036,640

	Cash and cash equivalents			41,799
	Investment securities			60,730
	Loans held for investment			26,457
	Restricted cash			29,119
	Deferred costs and other assets, net			21,574

	Total identifiable assets purchased			2,216,319

	Liabilities assumed, at fair value:
	Mortgage notes payable			1,037,510
	Secured credit facility			121,000
	Other debt			114,208
	Below-market leases			57,058
	Derivative liabilities			158
	Accounts payable and accrued expenses			49,291
	Deferred rent, derivative and other liabilities			8,619

	Total liabilities assumed			1,387,844

	Non-controlling interest retained by third party			567

	Net identifiable assets acquired by Company			827,908

	Goodwill		$	92,789


	-1	As reported in the Amended 10-K.
Cole Merger [Member]
Schedule of Business Acquisitions, by Acquisition	The estimated fair value of the consideration transferred at the Cole Acquisition Date totaled approximately $7.5 billion and consisted of the following (in thousands):


			As of Cole Acquisition
			Date (Preliminary)
	Estimated Fair Value of Consideration Transferred:
	Cash		$	181,775
	Common stock			7,285,868

	Total consideration transferred		$	7,467,643

Segment_Reporting_As_Restated_

Segment Reporting (As Restated) (Tables)	3 Months Ended
Segment Reporting (As Restated) (Tables)	Mar. 31, 2014
Segment Reporting [Abstract]
Schedule of segment reporting information, by segment	The following tables present a summary of the comparative financial results and total assets for each business segment (in thousands):


			Three Months Ended March 31,
			2014				2013
			(As Restated)				(As Restated)
	REI:
	Rental income		$	244,415			$	40,987
	Direct financing lease income			1,006				—
	Operating expense reimbursements			21,476				1,910

	Total real estate investment revenues			266,897				42,897

	Acquisition related			13,417				10,327
	Merger and other non-routine transactions			159,794				123,568
	Property operating expenses			29,755				2,549
	Management fees to affiliates			13,888				12,493
	General and administrative expenses			35,661				7,772
	Depreciation and amortization			159,483				26,753

	Total operating expenses			411,998				183,462

	Operating loss			(145,101	)			(140,565	)

	Interest expense, net			(120,951	)			(6,801	)
	Extinguishment of debt			(9,399	)			—
	Other income, net			3,959				999
	Loss on derivative instruments, net			(7,121	)			(5	)
	Loss on disposition of properties, net			(17,605	)			—
	Gain on sale of investments			—				451

	Total other expenses, net			(151,117	)			(5,356	)

	Net loss from continuing operations			(296,218	)			(145,921	)

	Discontinued operations:
	Loss from operations of held for sale properties			—				(16	)
	Gain on held for sale properties			—				—

	Net loss from discontinued operations			—				(16	)

	Net loss		$	(296,218	)		$	(145,937	)

	Cole Capital:
	Dealer manager and distribution fees, selling commissions and offering reimbursements		$	42,453			$	—
	Transaction service fees			4,559				—
	Management fees and reimbursements			7,245				—

	Total Cole Capital revenues			54,257				—

	Cole Capital reallowed fees and commissions			34,436				—
	Merger and other non-routine transactions			504				—
	General and administrative expenses			20,831				—
	Depreciation and amortization			14,359				—

	Total operating expenses			70,130				—

	Total other income			6,251				—

	Net loss from continuing operations		$	(9,622	)		$	—

	Total Company
	Total revenues		$	321,154			$	42,897
	Total operating expenses			482,128				183,462
Total other expense			(144,866	)			(5,356	)
Loss from continuing operations			(305,840	)			(145,921	)
Loss from discontinued operations			—				(16	)

Net loss		$	(305,840	)		$	(145,937	)


		Total Assets
		March 31, 2014				December 31, 2013
		(As Restated)				(As Restated)
Real Estate Investment		$	19,487,003			$	7,809,083
Cole Capital			1,001,092				—

Total Company		$	20,488,095			$	7,809,083

Real_Estate_Investments_As_Res1

Real Estate Investments (As Restated) (Tables)	3 Months Ended
Real Estate Investments (As Restated) (Tables)	Mar. 31, 2014
Real Estate [Abstract]
Business Acquisition, Pro Forma Information	The following table presents unaudited pro forma information as if all of the 2014 Acquisitions and the Cole Merger and ARCT IV Merger, as discussed in Note 3 — Mergers and Acquisitions (As Restated), were completed on January 1, 2013 for each period presented below. These amounts have been calculated after applying the Company’s accounting policies and adjusting the results of acquisitions to reflect the additional depreciation and amortization and interest expense that would have been charged had the acquisitions occurred on January 1, 2013. Additionally, the unaudited pro forma net loss attributable to stockholders was adjusted to exclude acquisition related expenses of $13.4 million and $10.3 million for the three months ended March 31, 2014 and 2013, respectively and merger and other non-routine transaction related expenses of $160.3 million and $123.6 million for the three months ended March 31, 2014 and 2013, respectively. These costs were recognized in the pro forma information for the three months ended March 31, 2013 (in thousands):


			Three Months Ended March 31,
			2014			2013
			As Restated			As Restated
	Pro forma revenues		$	414,320		$	44,330
	Pro forma net income attributable to stockholders		$	(2,937	)	$	3,146
Schedule of Future Minimum Rental Payments for Operating Leases	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			Future Minimum
			Operating Lease			Direct Financing
			Base Rent Payments			Lease Payments (1)
	April 1, 2014 - December 31, 2014		$	921,815		$	3,802
	2015			1,152,446			4,757
	2016			1,127,440			4,674
	2017			1,075,967			4,273
	2018			1,021,150			3,183
	Thereafter			7,251,560			10,052

	Total		$	12,550,378		$	30,741


	-1	47 properties are subject to direct financing leases and, therefore, revenue is recognized as direct financing lease income on the discounted cash flows of the lease payments. Amounts reflected are the cash rent on these respective properties.
Schedule of Future Minimum Lease Payments for Capital Leases	The components of the Company’s net investment in direct financing leases as of March 31, 2014 and December 31, 2013 are as follows (in thousands):


			March 31, 2014			December 31, 2013
	Future minimum lease payments receivable		$	31,001		$	33,729
	Unguaranteed residual value of property			47,089			46,172
	Unearned income			(12,367	)		(13,789	)

	Net investment in direct financing leases		$	65,723		$	66,112

Schedule of Annualized Rental Income by Major Tenants	There were no tenants exceeding 10% of consolidated annualized rental income March 31, 2014.


			March 31,
	Tenant		2014			2013
	Walgreens			15.6	%		*
	Dollar General			*			12	%
	Citizens Bank			*			12	%

	*	The tenants’ annualized rental income was not greater than 10% of total consolidated annualized rental income for all portfolio properties as of the period specified.

Investment_Securities_at_Fair_1

Investment Securities, at Fair Value (Tables)	3 Months Ended
Investment Securities, at Fair Value (Tables)	Mar. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities Reconciliation	The following tables detail the unrealized gains and losses on investment securities as of March 31, 2014 and December 31, 2013 (in thousands):


		March 31, 2014
		Amortized Cost		Gross Unrealized		Gross Unrealized			Fair Value
		Amortized Cost		Gains		Losses			Fair Value
	Investments in real estate fund	$	1,605	$	43	$	—		$	1,648
	CMBS		209,076		3,546		(467	)		212,155

	Total	$	210,681	$	3,589	$	(467	)	$	213,803


		December 31, 2013
		Amortized Cost		Gross Unrealized		Gross Unrealized			Fair Value
		Amortized Cost		Gains		Losses			Fair Value
	Investments in real estate fund	$	1,589	$	—	$	(105	)	$	1,484
	CMBS		60,452		498		(367	)		60,583

	Total	$	62,041	$	498	$	(472	)	$	62,067

Available-for-sale Securities	The scheduled maturity of the Company’s CMBS as of March 31, 2014 is as follows (in thousands):


		March 31, 2014
		Amortized Cost		Fair Value
	Due within one year	$	—	$	—
	Due after one year through five years		1,325		1,348
	Due after five years through 10 years		178,885		181,055
	Due after 10 years		28,866		29,752

		$	209,076	$	212,155

Deferred_Costs_and_Other_Asset1

Deferred Costs and Other Assets, Net (Tables)	3 Months Ended
Deferred Costs and Other Assets, Net (Tables)	Mar. 31, 2014
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Deferred costs and other assets, net consisted of the following as of March 31, 2014 and December 31, 2013 (amounts in thousands):


			March 31, 2014		December 31, 2013
			(As Restated)		(As Restated)
	Deferred costs, net		$	128,992	$	84,746
	Accounts receivable, net (1)			54,664		16,254
	Straight-line rent receivable			26,505		19,010
	Prepaid expenses			21,502		43,801
	Leasehold improvements, property and equipment, net (2)			20,920		531
	Restricted escrow deposits			19,154		101,813
	Derivative assets, at fair value			9,829		9,189
	Other assets			22,531		5,982

			$	304,097	$	281,326


	-1	Allowance for doubtful accounts was $1.0 million and $187,000 as of March 31, 2014 and December 31, 2013, respectively.
	-2	Amortization expense for leasehold improvements totaled $172,000 for the three months ended March 31, 2014. Accumulated amortization was $178,000 and $7,000 as of March 31, 2014 and December 31, 2013, respectively. Depreciation expense for property and equipment totaled $217,000 for the three months ended March 31, 2014. Accumulated depreciation was $222,000 and $5,000 as of March 31, 2014 and December 31, 2013, respectively.

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	3 Months Ended
Fair Value of Financial Instruments (Tables)	Mar. 31, 2014
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	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 in				Significant Other				Significant				Balance as of
		Active Markets				Observable Inputs				Unobservable Inputs				March 31, 2014
		Level 1				Level 2				Level 3
	Assets:
	Investments in real estate fund	$	—			$	1,648			$	—			$	1,648
	CMBS		—				—				212,155				212,155
	Interest rate swap assets		—				9,829				—				9,829

	Total assets	$	—			$	11,477			$	212,155			$	223,632

	Liabilities:
	Interest rate swap liabilities	$	—			$	(8,737	)		$	—			$	(8,737	)
	Series D Preferred Stock embedded derivative		—				—				(26,734	)			(26,734	)
	Contingent consideration arrangements		—				—				(4,903	)			(4,903	)

	Total liabilities	$	—			$	(8,737	)		$	(31,637	)		$	(40,374	)


		Quoted Prices				Significant Other				Significant				Balance as of
		in Active Markets				Observable Inputs				Unobservable Inputs				December 31, 2013
		Level 1				Level 2				Level 3
	Assets:
	Investments in real estate fund	$	—			$	1,484			$	—			$	1,484
	CMBS		—				—				60,583				60,583
	Interest rate swap assets		—				9,189				—				9,189

	Total assets	$	—			$	10,673			$	60,583			$	71,256

	Liabilities:
	Interest rate swap liabilities	$	—			$	(1,719	)		$	—			$	(1,719	)
	Series D Preferred Stock embedded derivative		—				—				(16,736	)			(16,736	)

	Total liabilities	$	—			$	(1,719	)		$	(16,736	)		$	(18,455	)

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following is a reconciliation of the beginning and ending balance for the changes in instruments with Level 3 inputs in the fair value hierarchy for the three months ended March 31, 2014 (in thousands):


		CMBS				Series D				Contingent				Total
						Preferred Stock				Consideration
						Embedded				Arrangements
						Derivative
	Beginning Balance as of December 31, 2013	$	60,583			$	(16,736	)		$	—			$	43,847
	Total gains and losses:
	Unrealized gain included in other comprehensive income, net		2,948				—				—				2,948
	Changes in fair value included in net income, net		—				(9,998	)			(1,297	)			(11,295	)
	Purchases, issuances, settlements and amortization:
	Purchases/issuances		151,197				—				(3,606	)			147,591
	Amortization included in net income, net		(2,573	)		$	—				—				(2,573	)

	Ending balance as of March 31, 2014	$	212,155			$	(26,734	)		$	(4,903	)		$	180,518

Fair Value, by Balance Sheet Grouping	The fair values of the Company’s financial instruments that are not reported at fair value on the consolidated balance sheets are reported below (dollar amounts in thousands):


		Level		Carrying Amount at				Fair Value at				Carrying Amount at				Fair Value at
		Level		March 31, 2014				March 31, 2014				December 31, 2013				December 31, 2013
	Assets:
	Loans held for investment	3		$	98,185			$	98,652			$	26,279			$	26,435

	Liabilities:
	Mortgage notes payable, net	3		$	4,234,074			$	4,265,230			$	1,301,114			$	1,305,823
	Corporate bonds, net	3			2,545,884				2,545,884				—				—
	Convertible debt, net	3			973,737				976,629				972,490				976,629
	Senior corporate credit facility	3			2,265,800				2,265,800				1,819,800				1,819,800
	Secured term loan	3			53,958				54,035				58,979				59,049
	Trust preferred notes	3			26,563				23,485				26,548				23,345
	Unsecured credit facility	3			150,000				150,000				150,000				150,000
	Other debt	3			68,288				68,414				19,278				19,350

	Total liabilities			$	10,318,304			$	10,349,477			$	4,348,209			$	4,353,996

Mortgage_Notes_Payable_Tables

Mortgage Notes Payable (Tables)	3 Months Ended
Mortgage Notes Payable (Tables)	Mar. 31, 2014
Debt Disclosure [Abstract]
Schedule of Mortgage Notes Payable	The Company’s mortgage notes payable consist of the following as of March 31, 2014 and December 31, 2013 (dollar amounts in thousands):


			Encumbered		Outstanding Loan		Weighted Average			Weighted Average
			Properties		Amount		Effective Interest Rate (1)			Maturity (2)
	March 31, 2014			697	$	4,128,384		4.83	%		6.23
	December 31, 2013			177	$	1,258,661		3.42	%		3.41

	-1	Mortgage notes payable primarily have fixed rates or are fixed by way of interest rate swap arrangements. Effective interest rates range from 2.41% to 7.20% at March 31, 2014 and 1.83% to 6.28% at December 31, 2013.
	-2	Weighted average remaining years until maturity as of March 31, 2014 and December 31, 2013, respectively.

Other_Debt_Tables

Other Debt (Tables)	3 Months Ended
Other Debt (Tables)	Mar. 31, 2014
Schedule of Debt	Amounts related to the secured term loan as of March 31, 2014 were as follows (in thousands):


		Borrowings		Collateral Carrying
		Borrowings		Value
	Loans held for investment	$	13,802	$	22,197
	Intercompany mortgage loans on CapLease properties		7,291		19,117
	Commercial mortgage-backed securities		32,144		44,506

		$	53,237	$	85,820

Mortgages [Member]
Schedule Of Aggregate Principal Payments Of Mortgages	The following table summarizes the scheduled aggregate principal repayments subsequent to March 31, 2014 (in thousands):


	Year	Total
	April 1, 2014 - December 31, 2014	$	134,152
	2015		202,578
	2016		242,769
	2017		567,950
	2018		252,923
	Thereafter		2,728,012

	Total	$	4,128,384

Other Debt [Member]
Schedule Of Aggregate Principal Payments Of Mortgages	The following table summarizes the scheduled aggregate principal repayments subsequent to March 31, 2014 (in thousands):


		Principal Repayment
	April 1, 2014 - December 31, 2014	$	56,925
	2015		11,862
	2016		12,516
	2017		26,890
	2018		13,267
	Thereafter		30,930

		$	152,390

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, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk (dollar amounts in thousands):


	Interest Rate Derivative	Number of				Notional Amount
	Interest Rate Derivative	Instruments				Notional Amount
	Interest rate swaps		17			$	1,174,544
	As of March 31, 2014, the Company had the following outstanding interest rate derivatives that were not designated as qualifying hedging relationships (dollar amounts in thousands):


	Interest Rate Derivative	Number of Instruments				Notional Amount
	Interest rate cap		1			$	500,000
	Interest rate swaps		5				234,800

	Total		6			$	734,800


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):


	Derivatives Designated as Hedging Instruments	Balance Sheet Location		March 31, 2014				December 31, 2013
	Interest rate products	Deferred costs and other assets, net		$	8,301			$	9,189
	Interest rate products	Deferred rent, derivative and other liabilities		$	(5,946	)		$	(1,719	)


	The table below presents the fair value of the Company’s derivative financial instruments not designated as hedges as well as their classification on the consolidated balance sheets as of March 31, 2014 and December 31, 2013 (in thousands):


	Derivatives Not Designated as Hedging Instruments	Balance Sheet Location		March 31, 2014				December 31, 2013
	Series D Preferred Stock embedded derivative	Deferred rent, derivative and other liabilities		$	(26,734	)		$	(16,736	)
	Interest rate products	Deferred rent, derivative and other liabilities		$	(2,791	)		$	—
	Interest rate products	Deferred costs and other assets, net		$	1,528			$	—
Derivative Instruments and Hedging Activities Disclosure	The table below details the location in the 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 and 2013, respectively (in thousands):


		Three Months Ended March 31,
	Derivatives in Cash Flow Hedging Relationships	2014				2013
	Amount of gain (loss) recognized in accumulated other comprehensive income on interest rate derivatives (effective portion)	$	(3,839	)		$	(1,859	)
	Amount of loss reclassified from accumulated other comprehensive income into income as interest expense (effective portion)	$	(1,541	)		$	(682	)
Net Amounts of Offsetting Derivative Liabilities Presented in the Consolidated Balance Sheet	The table below details 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 consolidated balance sheets (in thousands).


	Offsetting of Derivative Assets and Liabilities
		Gross				Gross				Gross		Net Amounts		Net Amounts			Financial		Cash		Net Amount
		Amounts of				Amounts of				Amounts		of Assets		of Liabilities			Instruments		Collateral
		Recognized				Recognized				Offset in the		Presented in		Presented in					Received
		Assets				Liabilities				Consolidated		the		the
										Balance		Consolidated		Consolidated
										Sheet		Balance Sheet		Balance
														Sheet
	March 31, 2014	$	9,829			$	(35,471	)		$	—	$	9,829	$	(35,471	)	$	—	$	—	$	(25,642	)
	December 31, 2013	$	9,189			$	(18,455	)		$	—	$	9,189	$	(18,455	)	$	—	$	—	$	(9,266	)

Accounts_Payable_and_Accrued_E1

Accounts Payable and Accrued Expenses (Tables)	3 Months Ended
Accounts Payable and Accrued Expenses (Tables)	Mar. 31, 2014
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accounts payable and accrued expenses consisted of the following as of March 31, 2014 and December 31, 2013 (in thousands):


		March 31, 2014		December 31, 2013
		(As Restated)		(As Restated)
	Accrued other	$	50,237	$	34,407
	Accrued interest		42,944		14,189
	Accrued real estate taxes		43,227		24,658
	Accounts payable		13,044		5,887
	Accrued merger costs		—		651,430

		$	149,542	$	730,571

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Contractual Obligation, Fiscal Year Maturity Schedule	The following table reflects the minimum base rental cash payments due from the Company over the next five years and thereafter for certain ground and office lease obligations (in thousands):


		Future Minimum
		Base Rent Payments
	April 1, 2014 - December 31, 2014	$	10,264
	2015		12,922
	2016		11,575
	2017		10,248
	2018		7,918
	Thereafter		83,734

	Total	$	136,661

Equitybased_Compensation_As_Re1

Equity-based Compensation (As Restated) (Tables)	3 Months Ended
Equity-based Compensation (As Restated) (Tables)	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Activity	The following table details the restricted shares activity within the Equity Plan and Director Stock Plan during the three months ended March 31, 2014:


			Equity Plan					Director Stock Plan
			Shares of			Weighted-		Shares of			Weighted-
			Restricted			Average		Restricted			Average
			Common			Issue		Common			Issue
			Stock			Price		Stock			Price
	Unvested, December 31, 2013			931,442		$	13.82		18,875		$	13.52
	Granted			5,580,678			13.28		3,000			13.99
	Vested			(323,915	)		12.85		(21,875	)		13.58
	Forfeited			(11,209	)		14.03		—			—

	Unvested, March 31, 2014			6,176,996		$	13.38		—		$	—

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Performance Schedule [Table Text Block]	Subject to the New OPP Cap, the pool will equal an amount to be determined based on the Company’s level of achievement of total return to stockholders, including both share price appreciation and common stock distributions (“Total Return”), as measured against an absolute hurdle and against a peer group of companies for a three-year performance period that commenced on October 1, 2013 (the “Performance Period”); with valuation dates on which a portion of the LTIP Units up to a specified amount of the New OPP Cap could be earned on the last day of each 12-month period during the Performance Period (each an “Annual Period”) and the initial 24-month period of the Performance Period (the “Interim Period”), as follows:


			Performance		Annual	Interim
			Period		Period	Period
	Absolute Component: 4% of any excess Total Return attained above an absolute hurdle measured from the beginning of such period:		21%		7%	14%
	Relative Component: 4% of any excess Total Return attained above the median Total Return for the performance period of the Peer Group(1), subject to a ratable sliding scale factor as follows based on achievement of cumulative Total Return measured from the beginning of such period:
	• 100% will be earned if cumulative Total Return achieved is at least:		18%		6%	12%
	• 50% will be earned if a cumulative Total Return achieved is:		0%		0%	0%
	• 0% will be earned if cumulative Total Return achieved is less than:		0%		0%	0%
	• a percentage from 50% to 100% calculated by linear interpolation will be earned if cumulative Total Return achieved is if between:		0% - 18%		0% - 6%	0% - 12%

	-1	The “Peer Group” is comprised of the following companies: EPR Properties; Getty Realty Corporation; Lexington Realty Trust; National Retail Properties, Inc.; Realty Income Corporation; and Spirit Realty Capital, Inc.

Related_Party_Transactions_and1

Related Party Transactions and Arrangements (As Restated) (Tables)	3 Months Ended
	Mar. 31, 2014
Schedule of Related Party Transactions	The following table summarizes the related party fees and expenses incurred by the Company, ARCT III and ARCT IV by category and the aggregate amounts contained in such categories for the periods presented (in thousands):


		Three Months Ended March 31,
		2014			2013
	Related party transactions:
	Expenses and capitalized costs:
	Financing fees and reimbursements	$	—		$	7,500
	Offering related costs		150			135,988
	Acquisition related expenses		1,539			6,963
	Merger and other non-routine transactions		137,738			106,680
	Management fees to affiliates		13,888			12,493
	General and administrative expenses		15,592			5,209
	Indirect affiliate expenses		498			—
	Cole Capital revenues:
	Cole Capital offering related revenue		42,453			—
	Cole Capital operating revenue		11,804			—

	Total	$	223,662		$	274,833

Offering Related Costs [Member]
Schedule of Related Party Transactions	The Company, ARCT III and ARCT IV recorded commissions, fees and offering cost reimbursements as shown in the table below for services provided to the Company, ARCT III and ARCT IV, as applicable, by affiliates of the Former Manager during the periods indicated (in thousands):


		Three Months Ended March 31,
		2014			2013
	Offering related costs:
	Commissions and fees	$	150		$	125,932
	Offering costs and other reimbursements		—			10,056

	Total	$	150		$	135,988

Merger And Other Non-Routine Transactions [Member]
Schedule of Related Party Transactions	The table below shows fees and expenses attributable to each merger and other non-routine transaction during the three months ended March 31, 2014 (in thousands):


		Three Months Ended March 31, 2014
		ARCT IV Merger			Internalization		Cole		Multi-tenant		Total
		ARCT IV Merger			and other		Merger		Spin-Off		Total
	Merger related costs:
	Strategic advisory services	$	8,400		$	—	$	17,115	$	1,750		27,265
	Personnel costs and other reimbursements		—			—		72		—		72
	Other non-routine transactions:
	Subordinated distribution fees		78,244			—		—		—		78,244
	Furniture, fixtures and equipment		5,800			10,000		—		—		15,800
	Other fees and expenses		—			—		2,900		—		2,900
	Personnel costs and other reimbursements		417			—		1,688		—		2,105
	Post-transaction support services		1,352			10,000		—		—		11,352

	Total	$	94,213		$	20,000	$	21,775	$	1,750	$	137,738

	The table below shows fees and expenses attributable to the ARCT III Merger and other non-routine transactions during the three months ended March 31, 2013 (in thousands):


		Three Months Ended
		March 31, 2013
		ARCT III Merger
	Merger related costs:
	Legal fees and expenses	$	125
	Personnel costs and other reimbursements		334
	Other non-routine transactions:
	Subordinated distribution fees		98,360
	Furniture, fixtures and equipment		5,800
	Post-transaction support services		2,000
	Legal fees and expenses		61

	Total	$	106,680

Management Fees To Affiliates [Member]
Schedule of Related Party Transactions	The Company, ARCT III and ARCT IV recorded fees and reimbursements as shown in the table below for services provided by the Former Manager and its affiliates related to the operations of the Company, ARCT III and ARCT IV during the periods indicated (in thousands):


		Three Months Ended March 31,
		2014			2013
	Management fees to affiliates:
	Asset management fees	$	13,888		$	11,693
	Property management fees		—			800

	Total	$	13,888		$	12,493

General and Administrative Expense [Member]
Schedule of Related Party Transactions	The Company, ARCT III and ARCT IV recorded general and administrative expenses as shown in the table below for services provided by the Former Manager and its affiliates related to the operations of the Company, ARCT III and ARCT IV during the periods indicated (in thousands):


		Three Months Ended March 31,
		2014			2013
	General and administrative expenses:
	Advisory fees and reimbursements	$	1,518		$	2,601
	Equity awards		14,074			2,608

	Total	$	15,592		$	5,209

Indirect Affiliate Expenses [Member]
Schedule of Related Party Transactions	These expenses are depicted in the table below for the periods indicated (in thousands):


		Three Months Ended
		March 31, 2014
	Indirect affiliate expenses:
	Audrain building	$	405
	New York (405 Park Ave) office		71
	Dresher, PA office		19
	North Carolina office		3

	Total	$	498

Due To Affiliate [Member]
Schedule of Related Party Transactions	Due to affiliates, as reported in the accompanying consolidated balance sheets, is comprised of the following amounts discussed above (in thousands):


		March 31, 2014			December 31, 2013
		(as Restated)			(as Restated)
	Due to affiliates:
	Offering related costs	$	150		$	220
	Merger and other non-routine transactions		1,847			38,645
	General and administrative		443			59,600
	Indirect affiliate costs		12			—
	Managed REITs and other		162			—
	Management fees to affiliates		—			4,969

	Total	$	2,614		$	103,434

Offering Related Revenues [Member]
Schedule of Related Party Transactions	The Company recorded commissions, fees and expense reimbursements as shown in the table below for services provided to the Managed REITs (as described above) during the period from the Cole Acquisition Date to March 31, 2014 (in thousands). As the Company did not commence operations for Cole Capital until the Cole Acquisition Date, comparative financial data is not presented for the three months ended March 31, 2013.


		Period from the Cole Acquisition Date to March 31, 2014
		CCPT IV			CCPT V		CCIT		CCIT II		INAV		Total
	Offering:
	Selling commission revenue	$	29,125		$	—	$	—	$	371	$	21	$	29,517
	Selling commissions reallowance expense	$	29,125		$	—	$	—	$	371	$	21	$	29,517
	Dealer-manager and distribution fee revenue	$	8,773		$	—	$	—	$	114	$	65	$	8,952
	Dealer-manager fees reallowance expense	$	4,864		$	—	$	—	$	53	$	2	$	4,919
	Other expense reimbursement revenue	$	3,767		$	50	$	—	$	114	$	53	$	3,984
Operating Revenues [Member]
Schedule of Related Party Transactions	As the Company did not commence operations for Cole Capital until the Cole Acquisition Date, comparative financial data is not presented for the three months ended March 31, 2013.


		Period from the Cole Acquisition Date to March 31, 2014
		CCPT IV			CCPT V		CCIT		CCIT II		INAV		Other		Total
	Operations:
	Acquisition fee revenue	$	3,998		$	66	$	495	$	—	$	—	$	—	$	4,559
	Asset management fee revenue	$	—		$	—	$	—	$	—	$	—	$	151	$	151
	Property management and leasing fee revenue	$	—		$	—	$	—	$	—	$	—	$	290	$	290
	Operating expense reimbursement revenue	$	1,065		$	17	$	429	$	—	$	—	$	—	$	1,511
	Advisory and performance fee revenue	$	2,564		$	—	$	2,595	$	26	$	108	$	—	$	5,293
Investment In The Managed REITs [Member]
Schedule of Related Party Transactions	The table below presents certain information related to the Company’s investments in the Managed REITs as of March 31, 2014 (carrying amount in thousands):


		March 31, 2014
	Managed REIT	% of Outstanding			Carrying Amount
	Managed REIT	Shares Owned			of Investment
	CCPT		0.01	%	$	5
	CCPT IV		0.01	%		140
	CCPT V		100	%		2,517
	CCIT		0.01	%		97
	CCIT II		33.14	%		2,139
	INAV		0.28	%		163

					$	5,061

Net_Loss_Per_Share_As_Restated1

Net Loss Per Share (As Restated) (Tables)	3 Months Ended
Net Loss Per Share (As Restated) (Tables)	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 (dollar amounts in thousands, except for per share data):


		Three Months Ended March 31,
		2014			2013
		(As Restated)			(As Restated)
	Net loss attributable to the Company	$	(291,444	)	$	(143,880	)
	Less: dividends declared on preferred shares and participating securities		23,432			193

	Net loss attributable to common stockholders		(314,876	)		(144,073	)
	Weighted average shares of common stock outstanding		547,470,457			167,847,516

	Basic and diluted net loss per share attributable to common stockholders	$	(0.58	)	$	(0.86	)

Organization_Detail

Organization (Detail)	3 Months Ended
Organization (Detail)	Mar. 31, 2014
Unaffiliated Third Party [Member]
Operations [Line Items]
Limited partner ownership interest in OP, Percent	0.60%
ARC Properties Operating Partnership, L.P. [Member]
Operations [Line Items]
Partnership units, holding period until right to redeem	1 year
ARC Properties Operating Partnership, L.P. [Member] \| General Partner [Member]
Operations [Line Items]
General partner ownership interest in OP	96.90%
ARC Real Estate Partners, LLC [Member] \| Affiliated Entity [Member] \| Contributor [Member]
Operations [Line Items]
Limited partner ownership interest in OP, Percent	2.50%

Restatement_of_Previously_Repo

Restatement of Previously Reported Financial Information - Narrative (Detail) (USD $)	3 Months Ended				12 Months Ended	6 Months Ended
	Mar. 31, 2014		Mar. 31, 2013		Dec. 31, 2013	Jun. 30, 2014
Merger and other one-time transactions	$160,298,000	[1],[2]	$123,568,000	[1],[2]
Equity based compensation	0	[3]	0	[3]
Management fees to affiliates	13,888,000	[1],[4]	12,493,000	[1],[4]
Net loss attributable to non-controlling interests	-14,396,000	[1]	-2,057,000	[1]
General and administrative	56,492,000	[1]	7,772,000	[1]
Depreciation and amortization	173,842,000	[1]	26,753,000	[1]
Loss on disposition of properties, net	-17,605,000	[1],[5]	0	[1],[5]
Loss on derivative instruments, net	-7,121,000	[1]	-5,000	[1]
Interest expense, net	120,951,000	[1]	6,801,000	[1]
Income Tax Expense Benefit	6,200,000		0
Weighted average shares of common stock outstanding	547,470,457		167,847,516
Error Corrections [Member]
Merger and other one-time transactions	-61,894,000	[2]	-14,201,000	[2]
Equity based compensation	-22,510,000	[3]	-881,000	[3]
Management fees to affiliates	13,888,000	[4]	12,493,000	[4]
Net loss attributable to non-controlling interests	-2,422,000		-1,625,000
General and administrative	29,684,000		6,318,000
Depreciation and amortization	8,479,000		0
Loss on disposition of properties, net	-20,584,000	[5]	0	[5]
Loss on derivative instruments, net	13,076,000		0
Interest expense, net	586,000		599,000
Income Tax Expense Benefit	1,200,000
As Previously Reported [Member]
Merger and other one-time transactions	222,192,000	[2]	137,769,000	[2]
Equity based compensation	22,510,000	[3]	881,000	[3]
Management fees to affiliates	0	[4]	0	[4]
Net loss attributable to non-controlling interests	-11,974,000		-432,000
General and administrative	26,839,000		1,454,000
Depreciation and amortization	165,363,000		26,753,000
Loss on disposition of properties, net	2,979,000	[5]	0	[5]
Loss on derivative instruments, net	-20,197,000		-5,000
Interest expense, net	116,712,000		6,056,000
Costs Expenses Which Should Have Been Capitalized As Deferred Financing Costs [Member] \| Error Corrections [Member]
Merger and other one-time transactions	20,600,000		1,000,000
Capitalization Of Deferred Financing, Additional Interest Expense [Member] \| Error Corrections [Member]
Merger and other one-time transactions	8,700,000		600,000
Operating Fees To Affiliates Improperly Classified As Merger And Other Non-Routine Transactions [Member] \| Error Corrections [Member]
Merger and other one-time transactions			13,000,000
Controlling Interest Transfer Tax Liability [Member] \| Error Corrections [Member]
Merger and other one-time transactions	4,000,000		1,100,000		8,900,000
Operating Fees to Affiliates Improperly Recorded For Future Period [Member] \| Error Corrections [Member]
Management fees to affiliates			500,000
Capitalization Of Deferred Financing, Extinguishment of Debt Expense [Member] \| Error Corrections [Member]
Merger and other one-time transactions	2,300,000
Expenses Improperly Categorized As Merger Related [Member] \| Error Corrections [Member]
Merger and other one-time transactions			5,400,000
Expenses Improperly Categorized As Merger Related [Member] \| Error Corrections [Member] \| Management Fee Expenses [Member]
Merger and other one-time transactions	13,900,000
Expenses Improperly Categorized As Merger Related [Member] \| Error Corrections [Member] \| General and Administrative Expense [Member]
Merger and other one-time transactions	9,400,000
Furniture, Fixtures and Equipment Capitalized Not Received [Member] \| Error Corrections [Member]
Merger and other one-time transactions	2,100,000		4,100,000
Furniture, Fixtures and Equipment Expenses Not Received [Member] \| Error Corrections [Member]
Merger and other one-time transactions			1,700,000
Expenses Incorrectly Recorded In Future Period [Member] \| Error Corrections [Member]
Merger and other one-time transactions	16,100,000				14,500,000
Expenses Incorrectly Recorded In Future Period [Member] \| Error Corrections [Member] \| Subsequent Event [Member]
Merger and other one-time transactions						1,600,000
Expenses Improperly Categorized As General And Administrative [Member] \| Error Corrections [Member]
Equity based compensation	3,300,000
General and administrative	900,000
Expenses Recorded In Incorrect Period [Member] \| Error Corrections [Member]
General and administrative	1,700,000
Unauthorized Equity Awards, Transition From External To Internal Management [Member]
Equity based compensation	120,000,000
Unauthorized Equity Awards, Transition From External To Internal Management [Member] \| Error Corrections [Member]
Equity based compensation	6,300,000
Unauthorized Equity Awards, Transition From External To Internal Management [Member] \| As Previously Reported [Member]
Equity based compensation	218,100,000
Equity Distributions Improperly Recorded [Member] \| Error Corrections [Member]
Equity based compensation	6,200,000
Equity-Based Compensation Expense Reported Within General And Administrative Expenses [Member] \| Error Corrections [Member]
Equity based compensation	22,500,000
Under Expensed Certain 2013 Capitalized Properties [Member] \| Error Corrections [Member]
Merger and other one-time transactions			600,000
Depreciation and amortization	2,300,000
Improperly Recorded Depreciation Expense For Real Estate Properties [Member] \| Error Corrections [Member]
Depreciation and amortization	6,000,000
Incorrectly Adjusted Purchase Price Allocation For Disposed Properties [Member] \| Error Corrections [Member] \| Goodwill Adjustment [Member]
Loss on disposition of properties, net	13,600,000
Incorrectly Accounted For Disposal Of Real Estate [Member] \| Error Corrections [Member]
Loss on disposition of properties, net	7,000,000
Incorrectly Recorded Ineffective Portion Of Hedge [Member] \| Error Corrections [Member]
Loss on derivative instruments, net	1,000,000
Improperly Recorded Loss On Derivative Instruments [Member] \| Error Corrections [Member]
Loss on derivative instruments, net	2,100,000
Improperly Recorded Loss On Derivative Instruments [Member] \| As Previously Reported [Member] \| Interest Rate Swap [Member]
Loss on derivative instruments, net	10,000,000
Interest Rate Lock Incorrectly Recorded As Expense [Member] \| Error Corrections [Member]
Interest expense, net	3,900,000
Swap Underestimated [Member] \| Error Corrections [Member]
Interest expense, net	1,400,000
Debt Extinguishment Costs, Should be Reported Separately Within Statement Of Operations [Member] \| Error Corrections [Member]
Interest expense, net	$7,800,000
Incorrectly Recognized Dilutive Effect Of Restricted Stock [Member] \| Error Corrections [Member]
Weighted average shares of common stock outstanding	311,475

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	This line item caption has been updated to merger and other non-routine transactions in the accompanying consolidated statements of operations.
[3]	As disclosed above, this line item caption has been reclassified into general and administrative in the accompanying consolidated statements of operations.
[4]	This line item caption has been updated to management fees to affiliates in the accompanying consolidated statements of operations.
[5]	This line item caption has been updated to loss on disposition of properties, net in the accompanying consolidated statements of operations.

Restated_Consolidated_Balance_

Restated Consolidated Balance Sheets (Detail) (USD $)	Mar. 31, 2014		Dec. 31, 2013		Mar. 31, 2013		Dec. 31, 2012
In Thousands, unless otherwise specified	Mar. 31, 2014		Dec. 31, 2013		Mar. 31, 2013		Dec. 31, 2012
Real estate investments, at cost:
Land	$3,224,257	[1]	$1,380,308	[1]	$337,606
Buildings, fixtures and improvements	11,836,655	[1]	5,297,400	[1]	1,683,373
Land and construction in progress	40,459	[1]	21,839	[1]	0
Acquired intangible lease assets	2,209,902	[1]	759,595	[1]	266,723
Total real estate investments, at cost	17,311,273	[1]	7,459,142	[1]	2,287,702
Less: accumulated depreciation and amortization	-428,566	[1]	-267,278	[1]	-83,282
Total real estate investments, net	16,882,707	[1]	7,191,864	[1]	2,204,420
Investment in unconsolidated entities	105,775	[1]	0
Investment in direct financing leases, net	65,723	[1]	66,112	[1]
Investment securities, at fair value	213,803	[1]	62,067	[1]	61,604
Loans held for investment, net	98,185	[1]	26,279	[1]
Cash and cash equivalents	83,216	[1]	52,725	[1]	1,119,507	[1]	292,575	[1]
Derivative assets, at fair value	9,829		9,189
Restricted cash	55,559	[1]	35,921	[1]	1,287
Intangible assets, net	371,634	[1]	0
Deferred costs and other assets, net	304,097	[1]	281,326	[1]	228,622
Prepaid expenses and other assets, net	0	[2]	0	[2]	0
Receivable for issuances of common stock					0
Goodwill	2,298,677	[1]	92,789	[1]
Due from affiliates	8,719	[1]	0
Deferred costs, net	0	[2]	0	[2]	0
Assets held for sale	0		0		0
Total assets	20,488,095	[1]	7,809,083	[1]	3,615,440
LIABILITIES AND EQUITY
Mortgage notes payable, net	4,234,074	[1]	1,301,114	[1]	265,118
Credit facilities	2,415,800	[1]	1,969,800	[1]	640,000
Corporate bonds, net	2,545,884	[1]	0
Derivative liabilities, at fair value	35,471		18,455		5,012
Convertible debt, net	973,737	[1]	972,490	[1]
Accounts payable and accrued expenses	149,542	[1]	730,571	[1]	647,061
Secured credit facility	0	[3]	0	[3]
Deferred rent and other liabilities	206,105	[1]	40,271	[1]	5,556
Other debt, net	148,809	[1]	104,804	[1]
Distributions payable	11,233	[1]	10,903	[1]	6,773
Below-market lease liabilities, net	286,579	[1]	77,169	[1]
Due to affiliates	2,614	[1]	103,434	[1]	1,569
Total liabilities	10,974,377	[1]	5,310,556	[1]	1,571,089
Common stock, $0.01 par value, 1,500,000,000 and 750,000,000 shares authorized and 769,931,938 and 239,234,725 issued and outstanding at March 31, 2014 and December 31, 2013, respectively	7,699	[1]	2,392	[1]	1,904
Additional paid-in capital	10,302,168	[1]	2,940,907	[1]	2,236,339
Accumulated other comprehensive income	8,463	[1]	7,666	[1]	-4,683
Accumulated deficit	-1,358,743	[1]	-877,957	[1]	-311,906
Total stockholders' equity	8,960,014	[1]	2,073,430	[1]	1,922,074
Non-controlling interests	284,405	[1]	155,798	[1]	122,277
Total equity	9,244,419	[1]	2,229,228	[1]	2,044,351
Total liabilities and equity	20,488,095	[1]	7,809,083	[1]	3,615,440
Senior Secured Credit Facility [Member]
LIABILITIES AND EQUITY
Credit facilities	0	[3]	0	[3]
Unsecured Debt [Member]
LIABILITIES AND EQUITY
Credit facilities	2,415,800		1,969,800
Series A Convertible Preferred Stock [Member]
LIABILITIES AND EQUITY
Preferred stock					0
Series B Convertible Preferred Stock [Member]
LIABILITIES AND EQUITY
Preferred stock					0
Convertible Preferred Stock [Member]
LIABILITIES AND EQUITY
Preferred stock	427	[1]	422	[1]	420
Adjustment [Member]
Real estate investments, at cost:
Derivative assets, at fair value	0	[2]	0	[2]
LIABILITIES AND EQUITY
Derivative liabilities, at fair value			0	[4]
Series D preferred stock [Member]
LIABILITIES AND EQUITY
Preferred stock	269,299	[1]	269,299	[1]
As Previously Reported [Member]
Real estate investments, at cost:
Land	3,226,615		1,379,453	[5]	298,280
Buildings, fixtures and improvements	11,841,722		5,291,031	[5]	1,521,505
Land and construction in progress	40,459		21,839	[5]	0
Acquired intangible lease assets	2,209,747		758,376	[5]	241,501
Total real estate investments, at cost	17,318,543		7,450,699	[5]	2,061,286
Less: accumulated depreciation and amortization	-422,355		-267,352	[5]	-81,207
Total real estate investments, net	16,896,188		7,183,347	[5]	1,980,079
Investment in unconsolidated entities	105,775		0	[5]
Investment in direct financing leases, net	65,723		66,112	[5]
Investment securities, at fair value	213,803		62,067	[5]	4
Loans held for investment, net	98,185		26,279	[5]
Cash and cash equivalents	83,067		52,725	[5]	1,119,507		292,575
Restricted cash	55,559		35,921	[5]	1,287
Intangible assets, net	371,634		0	[5]
Deferred costs and other assets, net	294,694		0	[5]	0
Prepaid expenses and other assets, net	0	[2]	187,930	[2],[5]	15,397
Receivable for issuances of common stock					0
Goodwill	2,287,122		102,419	[5]
Due from affiliates	8,550		0	[5]
Deferred costs, net	0	[2]	81,311	[2],[5]	38,244
Assets held for sale	0		679	[5]	679
Total assets	20,480,300		7,807,979	[5]	2,088,102
LIABILITIES AND EQUITY
Mortgage notes payable, net	4,234,668		1,301,114	[5]	265,118
Credit facilities					640,000
Corporate bonds, net	2,545,884		0	[5]
Derivative liabilities, at fair value					5,012
Convertible debt, net	973,737		972,490	[5]
Accounts payable and accrued expenses	143,860		808,900	[5]	6,589
Secured credit facility	0	[3]	150,000	[3],[5]
Deferred rent and other liabilities	195,826		21,816	[5]	5,270
Other debt, net	148,809		104,804	[5]
Distributions payable	4,414		10,278	[5]	92
Below-market lease liabilities, net	287,199		77,789	[5]
Due to affiliates	217		0	[5]	0
Total liabilities	10,950,414		5,285,446	[5]	922,081
Common stock, $0.01 par value, 1,500,000,000 and 750,000,000 shares authorized and 769,931,938 and 239,234,725 issued and outstanding at March 31, 2014 and December 31, 2013, respectively	7,699		2,392	[5]	1,543
Additional paid-in capital	10,305,815		2,939,287	[5]	1,335,863
Accumulated other comprehensive income	13,397		7,666	[5]	-5,018
Accumulated deficit	-1,365,467		-864,516	[5]	-290,484
Total stockholders' equity	8,961,871		2,085,251	[5]	1,041,912
Non-controlling interests	298,716		167,983	[5]	124,109
Total equity	9,260,587		2,253,234	[5]	1,166,021
Total liabilities and equity	20,480,300		7,807,979	[5]	2,088,102
As Previously Reported [Member] \| Senior Secured Credit Facility [Member]
LIABILITIES AND EQUITY
Credit facilities	0	[3]	1,819,800	[3],[5]
As Previously Reported [Member] \| Unsecured Debt [Member]
LIABILITIES AND EQUITY
Credit facilities	2,415,800		0	[5]
As Previously Reported [Member] \| Adjustments [Member]
Real estate investments, at cost:
Cash and cash equivalents					52,412
As Previously Reported [Member] \| Series A Convertible Preferred Stock [Member]
LIABILITIES AND EQUITY
Preferred stock					5
As Previously Reported [Member] \| Series B Convertible Preferred Stock [Member]
LIABILITIES AND EQUITY
Preferred stock					3
As Previously Reported [Member] \| Convertible Preferred Stock [Member]
LIABILITIES AND EQUITY
Preferred stock	427		422	[5]	0
As Previously Reported [Member] \| Adjustment [Member]
Real estate investments, at cost:
Derivative assets, at fair value	0	[2]	9,189	[2],[5]
LIABILITIES AND EQUITY
Derivative liabilities, at fair value	0	[4]	18,455	[4],[5]
As Previously Reported [Member] \| Series D preferred stock [Member]
LIABILITIES AND EQUITY
Preferred stock	269,299		269,299	[5]
Reclassifications And Immaterial Adjustments [Member]
Real estate investments, at cost:
Land	0		0		0
Buildings, fixtures and improvements	-3,565		0		0
Land and construction in progress	0		0		0
Acquired intangible lease assets	382		382		347
Total real estate investments, at cost	-3,183		382		347
Less: accumulated depreciation and amortization	-167		-155		-121
Total real estate investments, net	-3,350		227		226
Investment in unconsolidated entities	0		0
Investment in direct financing leases, net	0		0
Investment securities, at fair value	0		0		0
Loans held for investment, net	0		0
Cash and cash equivalents	0		0		0		0
Restricted cash	0		0		0
Intangible assets, net	0		0
Deferred costs and other assets, net	3,350		281,326		229,320
Prepaid expenses and other assets, net	0	[2]	-186,726	[2]	-21,526
Receivable for issuances of common stock					-169,097
Goodwill	0		0
Due from affiliates	0		0
Deferred costs, net	0	[2]	-84,973	[2]	-38,244
Assets held for sale	0		-665		-679
Total assets			0		0
LIABILITIES AND EQUITY
Mortgage notes payable, net	0		0		0
Credit facilities					0
Corporate bonds, net	0		0
Derivative liabilities, at fair value					0
Convertible debt, net	0		0
Accounts payable and accrued expenses	0				-138
Secured credit facility	0	[3]	-150,000	[3]
Deferred rent and other liabilities	0		18,455		138
Other debt, net	0		0
Distributions payable	0		0		0
Below-market lease liabilities, net	0		0
Due to affiliates	0				0
Total liabilities	0		0		0
Common stock, $0.01 par value, 1,500,000,000 and 750,000,000 shares authorized and 769,931,938 and 239,234,725 issued and outstanding at March 31, 2014 and December 31, 2013, respectively	0		0		0
Additional paid-in capital	-4,437		0		-615
Accumulated other comprehensive income	0		0		0
Accumulated deficit	269		0		0
Total stockholders' equity	-4,168		0		-615
Non-controlling interests	4,168		0		615
Total equity	0		0		0
Total liabilities and equity	0		0		0
Reclassifications And Immaterial Adjustments [Member] \| Senior Secured Credit Facility [Member]
LIABILITIES AND EQUITY
Credit facilities	0	[3]	-1,819,800	[3]
Reclassifications And Immaterial Adjustments [Member] \| Unsecured Debt [Member]
LIABILITIES AND EQUITY
Credit facilities	0		1,969,800
Reclassifications And Immaterial Adjustments [Member] \| ARCT IV [Member]
Real estate investments, at cost:
Land					39,326	[6]
Buildings, fixtures and improvements					161,868	[6]
Land and construction in progress					0	[6]
Acquired intangible lease assets					24,875	[6]
Total real estate investments, at cost					226,069	[6]
Less: accumulated depreciation and amortization					-1,954	[6]
Total real estate investments, net					224,115	[6]
Investment securities, at fair value					61,600	[6]
Cash and cash equivalents					1,067,095	[6]
Restricted cash					0	[6]
Deferred costs and other assets, net					0	[6]
Prepaid expenses and other assets, net					6,129	[6]
Receivable for issuances of common stock					169,097	[6]
Deferred costs, net					0	[6]
Assets held for sale					0	[6]
Total assets					1,528,036	[6]
LIABILITIES AND EQUITY
Mortgage notes payable, net					0	[6]
Credit facilities					0	[6]
Derivative liabilities, at fair value					0	[6]
Accounts payable and accrued expenses					641,094	[6]
Deferred rent and other liabilities					148	[6]
Distributions payable					6,619	[6]
Due to affiliates					0	[6]
Total liabilities					647,861	[6]
Common stock, $0.01 par value, 1,500,000,000 and 750,000,000 shares authorized and 769,931,938 and 239,234,725 issued and outstanding at March 31, 2014 and December 31, 2013, respectively					361	[6]
Additional paid-in capital					898,056	[6]
Accumulated other comprehensive income					335	[6]
Accumulated deficit					-18,989	[6]
Total stockholders' equity					880,175	[6]
Non-controlling interests					0	[6]
Total equity					880,175	[6]
Total liabilities and equity					1,528,036	[6]
Reclassifications And Immaterial Adjustments [Member] \| Series A Convertible Preferred Stock [Member]
LIABILITIES AND EQUITY
Preferred stock					-5
Reclassifications And Immaterial Adjustments [Member] \| Series A Convertible Preferred Stock [Member] \| ARCT IV [Member]
LIABILITIES AND EQUITY
Preferred stock					0	[6]
Reclassifications And Immaterial Adjustments [Member] \| Series B Convertible Preferred Stock [Member]
LIABILITIES AND EQUITY
Preferred stock					-3
Reclassifications And Immaterial Adjustments [Member] \| Series B Convertible Preferred Stock [Member] \| ARCT IV [Member]
LIABILITIES AND EQUITY
Preferred stock					0	[6]
Reclassifications And Immaterial Adjustments [Member] \| Convertible Preferred Stock [Member]
LIABILITIES AND EQUITY
Preferred stock	0		0		8
Reclassifications And Immaterial Adjustments [Member] \| Convertible Preferred Stock [Member] \| ARCT IV [Member]
LIABILITIES AND EQUITY
Preferred stock					412	[6]
Reclassifications And Immaterial Adjustments [Member] \| Adjustment [Member]
Real estate investments, at cost:
Derivative assets, at fair value	0	[2]	-9,189	[2]
LIABILITIES AND EQUITY
Derivative liabilities, at fair value	0	[4]	-18,455	[4]
Reclassifications And Immaterial Adjustments [Member] \| Series D preferred stock [Member]
LIABILITIES AND EQUITY
Preferred stock	0		0
Error Corrections [Member]
Real estate investments, at cost:
Land	-2,358		855		0
Buildings, fixtures and improvements	-1,502		6,369		0
Land and construction in progress	0		0		0
Acquired intangible lease assets	-227		837		0
Total real estate investments, at cost	-4,087		8,061		0
Less: accumulated depreciation and amortization	-6,044		229		0
Total real estate investments, net	-10,131		8,290		0
Investment in unconsolidated entities	0		0
Investment in direct financing leases, net	0		0
Investment securities, at fair value	0		0		0
Loans held for investment, net	0		0
Cash and cash equivalents	149		0		0		0
Restricted cash	0		0		0
Intangible assets, net	0		0
Deferred costs and other assets, net	6,053		0		-698
Prepaid expenses and other assets, net	0	[2]	-1,204	[2]	0
Receivable for issuances of common stock					0
Goodwill	11,555		-9,630
Due from affiliates	169		0
Deferred costs, net	0	[2]	3,662	[2]	0
Assets held for sale	0		-14		0
Total assets	7,795		1,104		-698
LIABILITIES AND EQUITY
Mortgage notes payable, net	-594		0		0
Credit facilities					0
Corporate bonds, net	0		0
Derivative liabilities, at fair value					0
Convertible debt, net	0		0
Accounts payable and accrued expenses	5,682		-78,329		-484
Secured credit facility	0	[3]	0	[3]
Deferred rent and other liabilities	10,279		0		0
Other debt, net	0		0
Distributions payable	6,819		625		62
Below-market lease liabilities, net	-620		-620
Due to affiliates	2,397		103,434		1,569
Total liabilities	23,963		25,110		1,147
Common stock, $0.01 par value, 1,500,000,000 and 750,000,000 shares authorized and 769,931,938 and 239,234,725 issued and outstanding at March 31, 2014 and December 31, 2013, respectively	0		0		0
Additional paid-in capital	790		1,620		3,035
Accumulated other comprehensive income	-4,934		0		0
Accumulated deficit	6,455		-13,441		-2,433
Total stockholders' equity	2,311		-11,821		602
Non-controlling interests	-18,479		-12,185		-2,447
Total equity	-16,168		-24,006		-1,845
Total liabilities and equity	7,795		1,104		-698
Error Corrections [Member] \| Senior Secured Credit Facility [Member]
LIABILITIES AND EQUITY
Credit facilities	0	[3]	0	[3]
Error Corrections [Member] \| Unsecured Debt [Member]
LIABILITIES AND EQUITY
Credit facilities	0		0
Error Corrections [Member] \| Series A Convertible Preferred Stock [Member]
LIABILITIES AND EQUITY
Preferred stock					0
Error Corrections [Member] \| Series B Convertible Preferred Stock [Member]
LIABILITIES AND EQUITY
Preferred stock					0
Error Corrections [Member] \| Convertible Preferred Stock [Member]
LIABILITIES AND EQUITY
Preferred stock	0		0		0
Error Corrections [Member] \| Adjustment [Member]
Real estate investments, at cost:
Derivative assets, at fair value	0	[2]	0	[2]
LIABILITIES AND EQUITY
Derivative liabilities, at fair value	0	[4]	0	[4]
Error Corrections [Member] \| Series D preferred stock [Member]
LIABILITIES AND EQUITY
Preferred stock			$0

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	This line item caption has been reclassified and included within deferred costs and other assets, net in the accompanying consolidated balance sheets for the period ended March 31, 2014.
[3]	This line item caption has been reclassified and included within credit facilities in the accompanying consolidated balance sheets for the period ended March 31, 2014.
[4]	This line item caption has been reclassified and included within deferred rent, derivative and other liabilities in the accompanying consolidated balance sheets for the period ended March 31, 2014.
[5]	These financial statements have been recast in applying the carryover basis of accounting to include the effects of the merger with ARCT IV.
[6]	Adjustments to financial statements in order to apply the carryover basis of accounting to include the effects of the merger with ARCT IV.

Restated_Consolidated_Balance_1

Restated Consolidated Balance Sheets (Parenthetical) (Detail) (USD $)	Mar. 31, 2014		Dec. 31, 2013		Sep. 15, 2013	Mar. 31, 2013	Nov. 08, 2013
Common stock, par value	$0.01	[1]	$0.01	[1]	$0.01	$0.01
Common stock, shares authorized	1,500,000,000	[1]	750,000,000	[1]		240,000,000
Common stock, issued	769,931,938	[1]	239,234,725	[1]		154,322,183
Common stock, outstanding	769,931,938	[1]	239,234,725	[1]		154,322,183
Series A Convertible Preferred Stock [Member]
Convertible preferred stock, par value						$0.01
Convertible preferred stock, shares authorized						545,454
Convertible preferred stock, issued						545,454
Convertible preferred stock, outstanding						545,454
Convertible preferred stocK, liquidation preference						$11
Series B Convertible Preferred Stock [Member]
Convertible preferred stock, par value						$0.01
Convertible preferred stock, shares authorized						283,018
Convertible preferred stock, issued						283,018
Convertible preferred stock, outstanding						283,018
Convertible preferred stocK, liquidation preference						$10.60
Convertible Preferred Stock [Member]
Convertible preferred stock, par value	$0.01	[1]	$0.01	[1]		$0.01
Convertible preferred stock, shares authorized	100,000,000	[1]	100,000,000	[1]		100,000,000
Convertible preferred stock, issued	42,654,919	[1]	42,199,547	[1]		35,863,711
Convertible preferred stock, outstanding	42,654,919	[1]	42,199,547	[1]		35,863,711
Series D preferred stock [Member]
Convertible preferred stock, par value	$0.01	[1]	$0.01	[1]	$0.01
Convertible preferred stock, shares authorized	21,735,008	[1]	21,735,008	[1]
Convertible preferred stock, issued	21,735,008	[1]	21,735,008	[1]
Convertible preferred stock, outstanding	21,735,008	[1]	21,735,008	[1]
Convertible preferred stocK, liquidation preference							$13.59

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

Restated_Consolidated_Statemen

Restated Consolidated Statements of Operations (Detail) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Revenues:
Rental income	$244,415	[1]	$40,987	[1]
Direct financing lease income	1,006	[1]	0	[1]
Operating expense reimbursements	21,476	[1]	1,910	[1]
Cole Capital revenue	54,257	[1]	0	[1]
Total revenues	321,154	[1]	42,897	[1]
Operating expenses:
Cole Capital reallowed fees and commissions	34,436	[1]	0	[1]
Acquisition related	13,417	[1]	10,327	[1]
Merger and other transaction related	160,298	[1],[2]	123,568	[1],[2]
Property operating	29,755	[1]	2,549	[1]
Operating fees to affiliate	13,888	[1],[3]	12,493	[1],[3]
General and administrative	56,492	[1]	7,772	[1]
Equity-based compensation	0	[4]	0	[4]
Depreciation and amortization	173,842	[1]	26,753	[1]
Total operating expenses	482,128	[1]	183,462	[1]
Operating loss	-160,974	[1]	-140,565	[1]
Other (expense) income:
Interest expense, net	-120,951	[1]	-6,801	[1]
Extinguishment of debt, net	-9,399	[1],[5]	0	[1],[5]
Other income, net	10,210	[1]	999	[1]
Loss on derivative instruments, net	-7,121	[1]	-5	[1]
Gain on disposition of properties, net	-17,605	[1],[6]	0	[1],[6]
Gain on sale of investments	0	[1]	451	[1]
Total other expenses, net	-144,866	[1]	-5,356	[1]
Net loss from continuing operations	-305,840	[1]	-145,921	[1]
Discontinued operations:
Loss from operations of held for sale properties	0	[1]	-16	[1]
Gain on held for sale properties	0		0
Net loss from discontinued operations	0	[1]	-16	[1]
Net loss	-305,840	[1]	-145,937	[1]
Net loss attributable to non-controlling interest	14,396	[1]	2,057	[1]
Net loss attributable to the Company	-291,444	[1]	-143,880	[1]
Basic and diluted net loss per share attributable to common stockholders	($0.58)	[1]	($0.86)	[1]
As Previously Reported [Member]
Revenues:
Rental income	244,445		40,987
Direct financing lease income	1,006		0
Operating expense reimbursements	21,096		1,910
Cole Capital revenue	54,067		0
Total revenues	320,614		42,897
Operating expenses:
Cole Capital reallowed fees and commissions	34,436		0
Acquisition related	11,884		10,327
Merger and other transaction related	222,192	[2]	137,769	[2]
Property operating	29,627		2,549
Operating fees to affiliate	0	[3]	0	[3]
General and administrative	26,839		1,454
Equity-based compensation	22,510	[4]	881	[4]
Depreciation and amortization	165,363		26,753
Total operating expenses	512,851		179,733
Operating loss	-192,237		-136,836
Other (expense) income:
Interest expense, net	-116,712		-6,056
Extinguishment of debt, net	0	[5]	0	[5]
Other income, net	5,512		853
Loss on derivative instruments, net	-20,197		-5
Gain on disposition of properties, net	2,979	[6]	0	[6]
Gain on sale of investments	0		451
Total other expenses, net	-128,418		-4,757
Net loss from continuing operations	-320,655		-141,593
Discontinued operations:
Loss from operations of held for sale properties	0		-16
Gain on held for sale properties	0		14
Net loss from discontinued operations	0		-2
Net loss	-320,655		-141,595
Net loss attributable to non-controlling interest	11,974		432
Net loss attributable to the Company	-308,681		-141,163
Basic and diluted net loss per share attributable to common stockholders	($0.61)		($0.84)
Reclassifications And Immaterial Adjustments [Member]
Revenues:
Rental income	0		0
Direct financing lease income	0		0
Operating expense reimbursements	0		0
Cole Capital revenue	190		0
Total revenues	190		0
Operating expenses:
Cole Capital reallowed fees and commissions	0		0
Acquisition related	0		0
Merger and other transaction related	0	[2]	0	[2]
Property operating	31		0
Operating fees to affiliate	0	[3]	0	[3]
General and administrative	-31		0
Equity-based compensation	0	[4]	0	[4]
Depreciation and amortization	0		0
Total operating expenses	0		0
Operating loss	190		0
Other (expense) income:
Interest expense, net	-3,653		-146
Extinguishment of debt, net	0	[5]	0	[5]
Other income, net	3,463		146
Loss on derivative instruments, net	0		0
Gain on disposition of properties, net	0	[6]	0	[6]
Gain on sale of investments	0		0
Total other expenses, net	-190		0
Net loss from continuing operations	0		0
Discontinued operations:
Loss from operations of held for sale properties	0		0
Gain on held for sale properties	0		0
Net loss from discontinued operations	0		0
Net loss	0		0
Net loss attributable to non-controlling interest	0		0
Net loss attributable to the Company	0		0
Basic and diluted net loss per share attributable to common stockholders	$0		$0
Error Corrections [Member]
Revenues:
Rental income	-30		0
Direct financing lease income	0		0
Operating expense reimbursements	380		0
Cole Capital revenue	0		0
Total revenues	350		0
Operating expenses:
Cole Capital reallowed fees and commissions	0		0
Acquisition related	1,533		0
Merger and other transaction related	-61,894	[2]	-14,201	[2]
Property operating	97		0
Operating fees to affiliate	13,888	[3]	12,493	[3]
General and administrative	29,684		6,318
Equity-based compensation	-22,510	[4]	-881	[4]
Depreciation and amortization	8,479		0
Total operating expenses	-30,723		3,729
Operating loss	31,073		-3,729
Other (expense) income:
Interest expense, net	-586		-599
Extinguishment of debt, net	-9,399	[5]	0	[5]
Other income, net	1,235		0
Loss on derivative instruments, net	13,076		0
Gain on disposition of properties, net	-20,584	[6]	0	[6]
Gain on sale of investments	0		0
Total other expenses, net	-16,258		-599
Net loss from continuing operations	14,815		-4,328
Discontinued operations:
Loss from operations of held for sale properties	0		0
Gain on held for sale properties	0		-14
Net loss from discontinued operations	0		-14
Net loss	14,815		-4,342
Net loss attributable to non-controlling interest	2,422		1,625
Net loss attributable to the Company	$17,237		($2,717)
Basic and diluted net loss per share attributable to common stockholders	$0.03		($0.02)

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	This line item caption has been updated to merger and other non-routine transactions in the accompanying consolidated statements of operations.
[3]	This line item caption has been updated to management fees to affiliates in the accompanying consolidated statements of operations.
[4]	As disclosed above, this line item caption has been reclassified into general and administrative in the accompanying consolidated statements of operations.
[5]	This line item caption has been added and is included in the accompanying consolidated statements of operations for the period ended March 31, 2014.
[6]	This line item caption has been updated to loss on disposition of properties, net in the accompanying consolidated statements of operations.

Restated_Consolidated_Statemen1

Restated Consolidated Statements of Comprehensive Income (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Net loss	($305,840)	[1]	($145,937)	[1]
Other comprehensive income (loss):
Designated derivatives, fair value adjustments	-2,298	[2]	-1,177	[2]
Unrealized gain (loss) on investment securities	3,095	[2]	428	[2]
Total other comprehensive income (loss)	797	[2]	-749	[2]
Total comprehensive loss	-305,043	[2]	-146,686	[2]
Comprehensive loss attributable to non-controlling interests	14,396	[2]	2,057	[2]
Total comprehensive income attributable to the Company	-290,647	[2],[3]	-144,629	[2],[3]
As Previously Reported [Member]
Net loss	-320,655	[1]	-141,595	[1]
Other comprehensive income (loss):
Designated derivatives, fair value adjustments	2,636		-1,177
Unrealized gain (loss) on investment securities	3,095		428
Total other comprehensive income (loss)	5,731		-749
Total comprehensive loss	-314,924		-142,344
Comprehensive loss attributable to non-controlling interests	11,974		432
Total comprehensive income attributable to the Company	-302,950	[3]	-141,912	[3]
Reclassifications And Immaterial Adjustments [Member]
Net loss	0	[1]	0	[1]
Other comprehensive income (loss):
Designated derivatives, fair value adjustments	0		0
Unrealized gain (loss) on investment securities	0		0
Total other comprehensive income (loss)	0		0
Total comprehensive loss	0		0
Comprehensive loss attributable to non-controlling interests	0		0
Total comprehensive income attributable to the Company	0	[3]	0	[3]
Error Corrections [Member]
Net loss	14,815	[1]	-4,342	[1]
Other comprehensive income (loss):
Designated derivatives, fair value adjustments	-4,934		0
Unrealized gain (loss) on investment securities	0		0
Total other comprehensive income (loss)	-4,934		0
Total comprehensive loss	9,881		-4,342
Comprehensive loss attributable to non-controlling interests	2,422		1,625
Total comprehensive income attributable to the Company	$12,303	[3]	($2,717)	[3]

[1]	The statement of comprehensive loss previously began with net loss attributable to common stockholders . The statement has been updated to begin with net loss to properly show the total comprehensive loss.
[2]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[3]	This line item caption has been added and is included in the accompanying statement of comprehensive loss for the period ended March 31, 2014.

Restated_Consolidated_Statemen2

Restated Consolidated Statement of Cash Flows (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Net loss	($305,840)	[1]	($145,937)	[1]
Adjustments to reconcile net loss to net cash used in operating activities:
Issuance of OP Units	92,884	[1]	107,771	[1]
Depreciation and amortization	214,040	[1],[2]	28,642	[1]
Depreciation	0	[2]	22,073	[2]
Amortization of intangible lease assets	0	[2]	5,279	[2]
Amortization of deferred costs	0	[2]	1,222	[2]
Amortization of above- and below-market lease asset	0	[2]	68	[2]
Amortization of intangible assets	0	[2]	0	[2]
Amortization of discounts and premiums	0	[2]	0	[2]
Gain (loss) on disposition of properties	17,605	[1]	0	[1]
Equity-based compensation	21,574	[1]	3,333	[1]
Equity in income of unconsolidated entities	-251	[1]	0	[1]
Distributions from unconsolidated entities	941	[1],[3]	0	[1],[3]
Net direct financing lease adjustments	0	[4]	0	[4]
Loss (gain) on derivative instruments	7,121	[1]	5	[1]
Loss (gain) on sale of investments, net	0	[1]	-451	[1]
Loss on extinguishment of debt	-19,628	[1]	0	[1]
Changes in assets and liabilities:
Investment in direct financing leases	389		0
Deferred costs and other assets	7,945	[1]	-4,710	[1]
Due from affiliates	-8,318	[1]	0	[1]
Accounts payable and accrued expenses	-73,395	[1]	-2,444	[1]
Deferred rent and other liabilities	-36,631	[1]	1,024	[1]
Due to affiliates	-41,264	[1]	1,569	[1]
Net cash used in operating activities	-122,828	[1]	-11,198	[1]
Cash flows from investing activities:
Investments in real estate and other assets	-634,541	[1]	-411,587	[1]
Acquisition of a real estate business, net of cash acquired	-683,240	[1]	0	[1]
Capital expenditures	-3,112	[1]	0	[1]
Real estate developments	-13,044	[1],[3]	0	[1],[3]
Return of investment from unconsolidated entities	0	[4]	0	[4]
Principal repayments received from borrowers	3,062	[1]	0	[1]
Investments in unconsolidated entities	-2,500	[1]	0	[1]
Proceeds from disposition of properties	60,785	[1]	0	[1]
Investment in intangible assets	-258	[1]	0	[1]
Deposits for real estate investments	-38,213	[1]	-7,769	[1]
Uses and refunds of deposits for real estate investments	137,688	[1]	0	[1]
Purchases of investment securities	0	[1]	-63,269	[1]
Line of credit advances to affiliates	-1,000	[1]	0	[1]
Line of credit repayments from affiliates	3,900	[1]	0	[1]
Proceeds from sale of investment securities	0	[1]	44,198	[1]
Change in restricted cash	-3,934	[1]	0	[1]
Net cash used in investing activities	-1,174,407	[1]	-438,427	[1]
Cash flows from financing activities:
Proceeds from mortgage notes payable	669,336	[1]	0	[1]
Payments on mortgage notes payable	-739,680	[1]	0	[1]
Payments on other debt	-4,938	[1]	0	[1]
Proceeds from credit facilities	2,131,000	[1]	675,000	[1]
Payments on credit facilities	-2,994,000	[1]	-159,604	[1]
Proceeds from corporate bonds	2,545,760	[1]	0	[1]
Payments of deferred financing costs	-66,834	[1]	-25,543	[1]
Common stock repurchases	0	[1]	-350,522	[1]
Proceeds from issuances of common stock	0	[1]	1,317,389	[1]
Payments of offering costs and fees related to stock issuances	-2,133	[1]	-138,651	[1]
Consideration to Former Manager for internalization	0		0
Contributions from non-controlling interest holders	279	[1]	750	[1]
Distributions to non-controlling interest holders	-9,488	[1]	-921	[1]
Distributions paid	-201,576	[1]	-40,636	[1]
Payments to affiliates, net	0	[1]	-526	[1]
Change in restricted cash	0	[1]	-179	[1]
Net cash provided by financing activities	1,327,726	[1]	1,276,557	[1]
Net change in cash and cash equivalents	30,491	[1]	826,932	[1]
Cash and cash equivalents, beginning of period	52,725	[1]	292,575	[1]
Cash and cash equivalents, end of period	83,216	[1]	1,119,507	[1]
Supplemental Disclosures:
Cash paid for interest	52,332	[1]	1,363	[1]
Cash paid for income taxes	7,616	[1]	222	[1]
Non-cash investing and financing activities:
Common stock issued through distribution reinvestment plan	0	[1]	7,498	[1]
As Previously Reported [Member]
Net loss	-320,655		-141,595
Adjustments to reconcile net loss to net cash used in operating activities:
Issuance of OP Units	153,884		108,247
Depreciation and amortization	0	[2]	0	[2]
Depreciation	111,015	[2]	21,474	[2]
Amortization of intangible lease assets	40,159	[2]	5,279	[2]
Amortization of deferred costs	38,064	[2]	1,222	[2]
Amortization of above- and below-market lease asset	358	[2]	68	[2]
Amortization of intangible assets	13,992	[2]	0	[2]
Amortization of discounts and premiums	-18,411	[2]	0	[2]
Gain (loss) on disposition of properties	-2,979		-14
Equity-based compensation	22,510		3,260
Equity in income of unconsolidated entities	-251		0
Distributions from unconsolidated entities	0	[3]	0	[3]
Net direct financing lease adjustments	0	[4]	0	[4]
Loss (gain) on derivative instruments	8,048		5
Loss (gain) on sale of investments, net	0		-451
Loss on extinguishment of debt	15,681		0
Changes in assets and liabilities:
Investment in direct financing leases	-3,104		0
Deferred costs and other assets	3,348		-4,710
Due from affiliates	-8,349		0
Accounts payable and accrued expenses	-148,052		-1,960
Deferred rent and other liabilities	-12,365		1,024
Due to affiliates	981		0
Net cash used in operating activities	-106,126		-8,151
Cash flows from investing activities:
Investments in real estate and other assets	-672,856		-412,628
Acquisition of a real estate business, net of cash acquired	-681,510		0
Capital expenditures	-4,796		0
Real estate developments	0	[3]	0	[3]
Return of investment from unconsolidated entities	941	[4]
Principal repayments received from borrowers	3,062		0
Investments in unconsolidated entities	-2,500		0
Proceeds from disposition of properties	60,036		0
Investment in intangible assets	-258		0
Deposits for real estate investments	-55,029		-7,769
Uses and refunds of deposits for real estate investments	137,688		0
Purchases of investment securities	0		-63,269
Line of credit advances to affiliates	-36,000		0
Line of credit repayments from affiliates	39,100		0
Proceeds from sale of investment securities	0		44,198
Change in restricted cash	0		0
Net cash used in investing activities	-1,212,122		-439,468
Cash flows from financing activities:
Proceeds from mortgage notes payable	669,336		0
Payments on mortgage notes payable	-739,087		0
Payments on other debt	-4,938		0
Proceeds from credit facilities	2,131,000		675,000
Payments on credit facilities	-2,994,000		-159,604
Proceeds from corporate bonds	2,545,760		0
Payments of deferred financing costs	-43,037		-24,587
Common stock repurchases	0		-350,522
Proceeds from issuances of common stock	0		1,317,389
Payments of offering costs and fees related to stock issuances	-1,715		-138,578
Consideration to Former Manager for internalization	0		-3,035
Contributions from non-controlling interest holders	279		750
Distributions to non-controlling interest holders	-9,589		-921
Distributions paid	-201,485		-40,636
Payments to affiliates, net	0		-526
Change in restricted cash	-3,934		-179
Net cash provided by financing activities	1,348,590		1,274,551
Net change in cash and cash equivalents	30,342		826,932
Cash and cash equivalents, beginning of period	52,725	[5]	292,575
Cash and cash equivalents, end of period	83,067		1,119,507
Supplemental Disclosures:
Cash paid for interest	52,518		1,363
Cash paid for income taxes	0		222
Non-cash investing and financing activities:
Common stock issued through distribution reinvestment plan	0		7,498
Reclassifications And Immaterial Adjustments [Member]
Net loss	0		0
Adjustments to reconcile net loss to net cash used in operating activities:
Issuance of OP Units	0		0
Depreciation and amortization	185,177	[2]	0	[2]
Depreciation	-111,015	[2]	0	[2]
Amortization of intangible lease assets	-40,159	[2]	0	[2]
Amortization of deferred costs	-38,064	[2]	0	[2]
Amortization of above- and below-market lease asset	-358	[2]	0	[2]
Amortization of intangible assets	-13,992	[2]	0	[2]
Amortization of discounts and premiums	18,411	[2]	0	[2]
Gain (loss) on disposition of properties	0		0
Equity-based compensation	0		0
Equity in income of unconsolidated entities	0		0
Distributions from unconsolidated entities	0	[3]	0	[3]
Net direct financing lease adjustments	0	[4]	0	[4]
Loss (gain) on derivative instruments	0		0
Loss (gain) on sale of investments, net	0		0
Loss on extinguishment of debt	0		0
Changes in assets and liabilities:
Investment in direct financing leases	0		0
Deferred costs and other assets	0		0
Due from affiliates	0		0
Accounts payable and accrued expenses	0		0
Deferred rent and other liabilities	0		0
Due to affiliates	0		0
Net cash used in operating activities	0		0
Cash flows from investing activities:
Investments in real estate and other assets	0		0
Acquisition of a real estate business, net of cash acquired	0		0
Capital expenditures	0		0
Real estate developments	0	[3]	0	[3]
Return of investment from unconsolidated entities	0	[4]	0	[4]
Principal repayments received from borrowers	0		0
Investments in unconsolidated entities	0		0
Proceeds from disposition of properties	0		0
Investment in intangible assets	0		0
Deposits for real estate investments	0		0
Uses and refunds of deposits for real estate investments	0		0
Purchases of investment securities	0		0
Line of credit advances to affiliates	0		0
Line of credit repayments from affiliates	0		0
Proceeds from sale of investment securities	0		0
Change in restricted cash	0		0
Net cash used in investing activities	0		0
Cash flows from financing activities:
Proceeds from mortgage notes payable	0		0
Payments on mortgage notes payable	0		0
Payments on other debt	0		0
Proceeds from credit facilities	0		0
Payments on credit facilities	0		0
Proceeds from corporate bonds	0		0
Payments of deferred financing costs	0		0
Common stock repurchases	0		0
Proceeds from issuances of common stock	0		0
Payments of offering costs and fees related to stock issuances	0		0
Consideration to Former Manager for internalization	0		0
Contributions from non-controlling interest holders	0		0
Distributions to non-controlling interest holders	0		0
Distributions paid	0		0
Payments to affiliates, net	0		0
Change in restricted cash	0		0
Net cash provided by financing activities	0		0
Net change in cash and cash equivalents	0		0
Cash and cash equivalents, beginning of period	0		0
Cash and cash equivalents, end of period	0		0
Supplemental Disclosures:
Cash paid for interest	0		0
Cash paid for income taxes	0		0
Non-cash investing and financing activities:
Common stock issued through distribution reinvestment plan	0		0
Error Corrections [Member]
Net loss	14,815		-4,342
Adjustments to reconcile net loss to net cash used in operating activities:
Issuance of OP Units	-61,000		-476
Depreciation and amortization	28,863	[2]	0	[2]
Depreciation	0	[2]	599	[2]
Amortization of intangible lease assets	0	[2]	0	[2]
Amortization of deferred costs	0	[2]	0	[2]
Amortization of above- and below-market lease asset	0	[2]	0	[2]
Amortization of intangible assets	0	[2]	0	[2]
Amortization of discounts and premiums	0	[2]	0	[2]
Gain (loss) on disposition of properties	20,584		14
Equity-based compensation	-936		73
Equity in income of unconsolidated entities	0		0
Distributions from unconsolidated entities	941	[3]	0	[3]
Net direct financing lease adjustments	0	[4]	0	[4]
Loss (gain) on derivative instruments	-927		0
Loss (gain) on sale of investments, net	0		0
Loss on extinguishment of debt	-35,309		0
Changes in assets and liabilities:
Investment in direct financing leases	3,493		0
Deferred costs and other assets	4,597		0
Due from affiliates	31		0
Accounts payable and accrued expenses	74,657		-484
Deferred rent and other liabilities	-24,266		0
Due to affiliates	-42,245		1,569
Net cash used in operating activities	-16,702		-3,047
Cash flows from investing activities:
Investments in real estate and other assets	38,315		1,041
Acquisition of a real estate business, net of cash acquired	-1,730		0
Capital expenditures	1,684		0
Real estate developments	-13,044	[3]	0	[3]
Return of investment from unconsolidated entities	-941	[4]	0	[4]
Principal repayments received from borrowers	0		0
Investments in unconsolidated entities	0		0
Proceeds from disposition of properties	749		0
Investment in intangible assets	0		0
Deposits for real estate investments	16,816		0
Uses and refunds of deposits for real estate investments	0		0
Purchases of investment securities	0		0
Line of credit advances to affiliates	35,000		0
Line of credit repayments from affiliates	-35,200		0
Proceeds from sale of investment securities	0		0
Change in restricted cash	-3,934		0
Net cash used in investing activities	37,715		1,041
Cash flows from financing activities:
Proceeds from mortgage notes payable	0		0
Payments on mortgage notes payable	-593		0
Payments on other debt	0		0
Proceeds from credit facilities	0		0
Payments on credit facilities	0		0
Proceeds from corporate bonds	0		0
Payments of deferred financing costs	-23,797		-956
Common stock repurchases	0		0
Proceeds from issuances of common stock	0		0
Payments of offering costs and fees related to stock issuances	-418		-73
Consideration to Former Manager for internalization	0		3,035
Contributions from non-controlling interest holders	0		0
Distributions to non-controlling interest holders	101		0
Distributions paid	-91		0
Payments to affiliates, net	0		0
Change in restricted cash	3,934		0
Net cash provided by financing activities	-20,864		2,006
Net change in cash and cash equivalents	149		0
Cash and cash equivalents, beginning of period	0		0
Cash and cash equivalents, end of period	149		0
Supplemental Disclosures:
Cash paid for interest	-186		0
Cash paid for income taxes	7,616		0
Non-cash investing and financing activities:
Common stock issued through distribution reinvestment plan	$0		$0

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	These five depreciation and amortization line item captions have been consolidated into one line item caption named depreciation and amortization in the accompanying consolidated statements of cash flows.
[3]	This line item caption has been added and is included in the accompanying consolidated statements of cash flows for the period ended March 31, 2014.
[4]	This line item has been removed from the accompanying consolidated statements of cash flows for the period ended March 31, 2014.
[5]	These financial statements have been recast in applying the carryover basis of accounting to include the effects of the merger with ARCT IV.

Mergers_and_Acquisitions_Detai

Mergers and Acquisitions (Detail) (USD $)

3 Months Ended

0 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Mar. 13, 2014

Feb. 28, 2013

Nov. 05, 2013

Jan. 03, 2014

Jul. 24, 2013

Oct. 02, 2013

Feb. 07, 2014

Aug. 08, 2013

Dec. 31, 2013

Sep. 15, 2013

Property

Company

Property

Business Acquisition [Line Items]

Common stock, issued

769,931,938

[1]

154,322,183

239,234,725

[1]

Real estate investments, at cost

$17,311,273,000

[1]

$2,287,702,000

$7,459,142,000

[1]

Number of properties acquired

215

112

Common stock, par value

$0.01

[1]

$0.01

[1]

$0.01

Series F Preferred Stock [Member]

Business Acquisition [Line Items]

Percentage of Stock, Designated Cumulative Preferred Stock

6.70%

Spinoff Of Multi Tenant Shopping Center Portfolio [Member]

Business Acquisition [Line Items]

Common stock, par value

$0.01

Ownership percentage

25.00%

Spin-off, finalization of documentation period

30 days

Spinoff Of Multi Tenant Shopping Center Portfolio [Member] | Common Stock [Member]

Business Acquisition [Line Items]

Spin-off, shares

$10

Spinoff Of Multi Tenant Shopping Center Portfolio [Member] | Op Units [Member]

Business Acquisition [Line Items]

Spin-off, shares

$10

ARCP Merger [Member] | Cash [Member] | Option Two [Member]

Business Acquisition [Line Items]

Convertible stock issued during period, shares

0.95

Convertible stock issued during period, value

$12

Shares, Outstanding

29,200,000

Percentage of shares outstanding

16.50%

ARCP Merger [Member] | Common Stock [Member] | Option One [Member]

Business Acquisition [Line Items]

Business combination, consideration transferred

350,000,000

Shares, Outstanding

148,100,000

Common stock, issued

140,700,000

ARCP shares converted from ARCT III shares [Member] | Cash [Member] | Option Two [Member]

Business Acquisition [Line Items]

Shares, Outstanding

27,700,000

CapLease [Member]

Business Acquisition [Line Items]

Cash

920,697,000

[2]

CapLease [Member] | Cash [Member] | Common Stock [Member]

Business Acquisition [Line Items]

Convertible stock issued during period, value

$8.50

CapLease [Member] | Cash [Member] | Preferred Stock [Member]

Business Acquisition [Line Items]

Convertible stock issued during period, value

$25

CapLease [Member] | Cash [Member] | Op Units [Member]

Business Acquisition [Line Items]

Convertible stock issued during period, value

$8.50

CapLease [Member] | Cash [Member] | Restricted Stock [Member]

Business Acquisition [Line Items]

Convertible stock issued during period, value

$8.50

ARCT IV / ARCP Merger [Member]

Business Acquisition [Line Items]

Cash

651,400,000

ARCT IV / ARCP Merger [Member] | Common Stock [Member]

Business Acquisition [Line Items]

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares

36,900,000

ARCT IV / ARCP Merger [Member] | Op Units [Member]

Business Acquisition [Line Items]

Units minimum holding period

2 years

Conversion of Stock, Shares Converted

6,700,000

ARCT IV / ARCP Merger [Member] | Series F Preferred Stock [Member]

Business Acquisition [Line Items]

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares

42,200,000

ARCT IV / ARCP Merger [Member] | Cash [Member]

Business Acquisition [Line Items]

Convertible stock issued during period, value

Fortress Portfolio [Member]

Business Acquisition [Line Items]

Business combination, consideration transferred

400,900,000

Number of Real Estate Properties

196

Real estate investments, at cost

601,200,000

972,500,000

ARCP Fortress Portfolio [Member]

Business Acquisition [Line Items]

Number of Real Estate Properties

120

Real estate investments, at cost

200,300,000

Number of properties acquired

Cole Merger [Member]

Business Acquisition [Line Items]

Business combination, consideration transferred

7,467,643,000

Cash

181,775,000

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares

400,000

Business acquisition, percentage of voting interests acquired

98.00%

Percent of Voting Interests That Received Cash

2.00%

Stock Issued During Period, Value, New Issues

520,791,136

Shares issued (in shares)

2,800,000

Cole Merger [Member] | Cash [Member] | Option Two [Member]

Business Acquisition [Line Items]

Business combination, consideration transferred

13.82

Cole Merger [Member] | Cash [Member] | Option One [Member]

Business Acquisition [Line Items]

Business acquisition, equity interest issued or issuable, per share conversion rate

$1.09

Common stock, par value

$0.01

ARCP Inland Portfolio [Member]

Business Acquisition [Line Items]

Business combination, consideration transferred

501,000,000

Number of Real Estate Properties

Real estate investments, at cost

288,200,000

2,300,000,000

Number of properties acquired

Number of Companies

Remaining properties to acquire

American Realty Capital III Special Limited Partnership, LLC [Member] | ARCP Merger [Member] | Common Stock [Member] | Entity Wholly Owned By Sponsor [Member]

Business Acquisition [Line Items]

Partner ownership interest, Issuance of Units

7,300,000

Units minimum holding period

1 year

American Realty Capital III Special Limited Partnership, LLC [Member] | ARCT IV / ARCP Merger [Member] | Common Stock [Member] | Entity Wholly Owned By Sponsor [Member] | Post-Conversion [Member]

Business Acquisition [Line Items]

Subordinated Distributions of Net Sale Proceeds

63,200,000

ARCP [Member] | ARCT IV / ARCP Merger [Member] | Common Stock [Member]

Business Acquisition [Line Items]

Business acquisition, equity interest issued or issuable, per share conversion rate

$0.52

ARCP [Member] | ARCT IV / ARCP Merger [Member] | Op Units [Member]

Business Acquisition [Line Items]

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares

600,000

ARCP [Member] | ARCT IV / ARCP Merger [Member] | Series F Preferred Stock [Member]

Business Acquisition [Line Items]

Business acquisition, equity interest issued or issuable, per share conversion rate

$0.59

ARCP [Member] | ARCT IV / ARCP Merger [Member] | Class B Units [Member]

Business Acquisition [Line Items]

Business acquisition, equity interest issued or issuable, per share conversion rate

$2.40

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares

1,200,000

ARCP [Member] | ARCT IV / ARCP Merger [Member] | Series F OP Units [Member]

Business Acquisition [Line Items]

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares

700,000

ARCP [Member] | ARCP Inland Portfolio [Member]

Business Acquisition [Line Items]

Number of Companies

American Realty Capital Advisors III LLC [Member] | ARCT IV / ARCP Merger [Member] | Annual Targeted Investor Return [Member] | Pre-tax Non-compounded Return on Capital Contribution [Member]

Business Acquisition [Line Items]

Related Party Transaction, Cumulative Capital Investment Return, as a Percentage of Benchmark

6.00%

American Realty Capital Advisors III LLC [Member] | ARCT IV / ARCP Merger [Member] | Advisor [Member] | Annual Targeted Investor Return [Member] | Pre-tax Non-compounded Return on Capital Contribution [Member]

Business Acquisition [Line Items]

Related party transaction, cumulative capital investment return

358,300,000

Related Party Transaction, Cumulative Capital Investment Return, as a Percentage of Benchmark

6.00%

ARCP IV [Member] | ARCT IV / ARCP Merger [Member] | Special Limited Partner [Member]

Business Acquisition [Line Items]

Business acquisition, equity interest issued or issuable, per share conversion rate

$22.50

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares

2,800,000

Conversion of Stock, Shares Converted

6,700,000

Business Acquisition, Equity Interest Issued or Issuable, Value Assigned

78,200,000

ARCP IV [Member] | ARCT IV / ARCP Merger [Member] | Series F OP Units [Member]

Business Acquisition [Line Items]

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares

700,000

American Realty Capital Real Estate Partners, LLC [Member] | ARCT IV / ARCP Merger [Member]

Business Acquisition [Line Items]

Business combination, consideration transferred

$750,000

American Realty Capital Real Estate Partners, LLC [Member] | ARCT IV / ARCP Merger [Member] | Op Units [Member]

Business Acquisition [Line Items]

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares

100,000

[1]

For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

[2]

As reported in the Amended 10-K.

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Detail) (USD $)	3 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Carrying Amount of Investment	5,061
Number of properties with impairment indicators	2
Office Furniture, Fixtures and Equipment and Computer Hardware and Software [Member] \| Minimum [Member]
Property, plant and equipment, useful life	5 years
Office Furniture, Fixtures and Equipment and Computer Hardware and Software [Member] \| Maximum [Member]
Property, plant and equipment, useful life	7 years
Unconsolidated Managed Real Estate Investment Trusts [Member]
Carrying Amount of Investment	5,100
Op Units [Member]
Antidilutive securities excluded from computation of earnings per share	24,836,863	9,591,174
Unconsolidated Joint Venture [Member]
Number of unconsolidated joint ventures	6
Number of owned properties	6
Carrying Amount of Investment	100,700

Summary_of_Significant_Account4

Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Goodwill Rollforward (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Goodwill [Roll Forward]
Goodwill, beginning balance	$92,789	[1]
Goodwill, acquired during period	2,212,920	[2]
Goodwill, allocated to dispositions	-7,032	[3]
Goodwill, ending balance	2,298,677	[1]
Real Estate Investment Segment [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	92,789
Goodwill, acquired during period	1,654,085	[2]
Goodwill, allocated to dispositions	-7,032	[3]
Goodwill, ending balance	1,739,842
Cole Capital Segment [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	0
Goodwill, acquired during period	558,835	[2]
Goodwill, allocated to dispositions	0	[3]
Goodwill, ending balance	$558,835

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	Goodwill recognized from the Cole Merger was assigned to the REI segment and Cole Capital based on the excess consideration paid over the fair value of the assets and liabilities acquired and assumed in each segment. Refer to Note 5 - Acquisitions of CapLease and Cole (As Restated) for further discussion.
[3]	Goodwill allocated to the cost basis of properties sold or classified as held for sale is included in loss on held for sale assets and disposition of properties, net, in the consolidated statement of operations.

Summary_of_Significant_Account5

Summary of Significant Accounting Policies - Acquisition Related Expenses and Merger and other Transaction Related Expenses (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Accounting Policies [Abstract]
Strategic advisory services	$32,615		$10,299
Transfer taxes	5,109		1,085
Legal fees and expenses	2,984		1,680
Multi-tenant spin off	2,321
Other fees and expenses	1,330		2,865
Personnel costs and other reimbursements	751		384
Subordinated distribution fees	78,244		98,360
Post-transaction support services	14,251		2,000
Furniture, fixtures and equipment	14,085		5,800
Legal fees and expenses	1,826		950
Personnel costs and other reimbursement	2,443
Other fees and expenses	4,339		145
Total	$160,298	[1],[2]	$123,568	[1],[2]

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	This line item caption has been updated to merger and other non-routine transactions in the accompanying consolidated statements of operations.

Acquisition_of_CapLease_and_Co

Acquisition of CapLease and Cole - CapLease Acquisition Narrative (Detail) (USD $)	0 Months Ended
In Thousands, unless otherwise specified	Nov. 05, 2013		Mar. 31, 2014		Dec. 31, 2013
Business Acquisition [Line Items]
Goodwill			$2,298,677	[1]	$92,789	[1]
CapLease [Member]
Business Acquisition [Line Items]
Payments to acquire businesses, gross	920,697	[2]
Real estate investments acquired	2,036,640	[2]
Below-market leases	57,058	[2]
Goodwill	$92,789	[2]

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	As reported in the Amended 10-K.

Acquisition_of_CapLease_and_Co1

Acquisition of CapLease and Cole - CapLease Acquisition (Detail) (USD $)	0 Months Ended
In Thousands, unless otherwise specified	Nov. 05, 2013		Mar. 31, 2014		Dec. 31, 2013
Liabilities assumed, at fair value:
Goodwill			$2,298,677	[1]	$92,789	[1]
CapLease [Member]
Business Acquisition [Line Items]
Fair value of consideration given	920,697	[2]
Assets purchased, at fair value:
Land	235,843	[2]
Buildings, fixtures and improvements	1,596,481	[2]
Land and construction in process	12,352	[2]
Acquired intangible lease assets	191,964	[2]
Total real estate investments	2,036,640	[2]
Cash and cash equivalents	41,799	[2]
Investment securities	60,730	[2]
Loans held for investment	26,457	[2]
Restricted cash	29,119	[2]
Deferred costs and other assets, net	21,574	[2]
Total identifiable assets acquired	2,216,319	[2]
Liabilities assumed, at fair value:
Mortgage notes payable	1,037,510	[2]
Secured credit facility	121,000	[2]
Other debt	114,208	[2]
Below-market leases	57,058	[2]
Derivative liabilities	158	[2]
Accounts payable and accrued expenses	49,291	[2]
Deferred rent, derivative and other liabilities	8,619	[2]
Total liabilities assumed	1,387,844	[2]
Non-controlling interest retained by third party	567	[2]
Net identifiable assets acquired by Company	827,908	[2]
Goodwill	$92,789	[2]

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	As reported in the Amended 10-K.

Acquisition_of_CapLease_and_Co2

Acquisition of CapLease and Cole Acquisition of CapLease and Cole - Cole Acquisition Narrative (Detail) (USD $)	3 Months Ended				0 Months Ended	2 Months Ended
	Mar. 31, 2014		Mar. 31, 2013		Feb. 07, 2014	Mar. 31, 2014		Dec. 31, 2013
Business Acquisition [Line Items]
Amortization of intangible assets	$0	[1]	$0	[1]
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Goodwill	2,298,677,000	[2]				2,298,677,000	[2]	92,789,000	[2]
Cole Merger [Member]
Business Acquisition [Line Items]
Business combination, consideration transferred					7,467,643,000
Issuance of common stock					520,791,136
Real estate investments acquired					8,963,883,000
Below-market lease liabilities					212,433,000
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Amortization expense, remainder of 2014	72,600,000					72,600,000
Amortization expense, 2015	96,300,000					96,300,000
Amortization expense, 2016	96,300,000					96,300,000
Amortization expense, 2017	96,300,000					96,300,000
Amortization expense, 2018	9,800,000					9,800,000
Goodwill					2,212,920,000
Revenue of acquiree since acquisition date						162,600,000
Earnings or loss of acquiree since acquisition date						700,000
Cole Merger [Member] \| Management And Advisory Contracts [Member]
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	4 years
Amortization of intangible assets	14,000,000
Real Estate Investment Segment [Member]
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Goodwill	1,739,842,000					1,739,842,000		92,789,000
Real Estate Investment Segment [Member] \| Cole Merger [Member]
Business Acquisition [Line Items]
Real estate investments acquired					8,963,883,000
Below-market lease liabilities					212,433,000
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Goodwill					1,654,085,000
Private Capital Management Segment [Member] \| Cole Merger [Member]
Business Acquisition [Line Items]
Real estate investments acquired					0
Below-market lease liabilities					0
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Goodwill	$558,800,000				$558,835,000	$558,800,000

[1]	These five depreciation and amortization line item captions have been consolidated into one line item caption named depreciation and amortization in the accompanying consolidated statements of cash flows.
[2]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

Acquisition_of_CapLease_and_Co3

Acquisition of CapLease and Cole - Cole Acquisition Fair Value Transferred (Detail) (Cole Merger [Member], USD $)	0 Months Ended
	Feb. 07, 2014
Cole Merger [Member]
Business Acquisition [Line Items]
Cash	$181,775,000
Common stock	7,285,868,000
Total consideration transferred	$7,467,643,000

Acquisition_of_CapLease_and_Co4

Acquisition of CapLease and Cole - Cole Acquisition Assets Acquired and Liabilities Assumed (Detail) (USD $)	Mar. 31, 2014		Dec. 31, 2013		Feb. 07, 2014
In Thousands, unless otherwise specified	Mar. 31, 2014		Dec. 31, 2013		Feb. 07, 2014
Identifiable Liabilities Assumed at Fair Value:
Goodwill	$2,298,677	[1]	$92,789	[1]
Real Estate Investment Segment [Member]
Identifiable Liabilities Assumed at Fair Value:
Goodwill	1,739,842		92,789
Cole Merger [Member]
Identifiable Assets Acquired at Fair Value:
Land					1,737,839
Buildings, fixtures and improvements					5,901,827
Intangible lease assets					1,324,217
Total real estate investments					8,963,883
Investment in unconsolidated entities					103,966
Investment securities					151,197
Loans held for investment					72,326
Cash and cash equivalents					149,965
Restricted cash					15,704
Intangible assets					385,368
Deferred costs and other assets					94,667
Due from affiliates					3,301
Total identifiable assets acquired					9,940,377
Identifiable Liabilities Assumed at Fair Value:
Mortgage notes payable					2,706,585
Credit facilities					1,309,000
Other debt					49,013
Below-market lease liabilities					212,433
Accounts payable and accrued expenses					142,243
Deferred rent, derivative and other liabilities					235,299
Dividends payable					6,271
Due to affiliates					44
Total liabilities assumed					4,660,888
Non-controlling interests					24,766
Net identifiable assets acquired					5,254,723
Goodwill					2,212,920
Net assets acquired					7,467,643
Cole Merger [Member] \| Real Estate Investment Segment [Member]
Identifiable Assets Acquired at Fair Value:
Land					1,737,839
Buildings, fixtures and improvements					5,901,827
Intangible lease assets					1,324,217
Total real estate investments					8,963,883
Investment in unconsolidated entities					100,659
Investment securities					151,197
Loans held for investment					72,326
Cash and cash equivalents					129,552
Restricted cash					15,704
Intangible assets					0
Deferred costs and other assets					43,774
Due from affiliates					0
Total identifiable assets acquired					9,477,095
Identifiable Liabilities Assumed at Fair Value:
Mortgage notes payable					2,706,585
Credit facilities					1,309,000
Other debt					49,013
Below-market lease liabilities					212,433
Accounts payable and accrued expenses					87,628
Deferred rent, derivative and other liabilities					67,841
Dividends payable					6,271
Due to affiliates					0
Total liabilities assumed					4,438,771
Non-controlling interests					24,766
Net identifiable assets acquired					5,013,558
Goodwill					1,654,085
Net assets acquired					6,667,643
Cole Merger [Member] \| Private Capital Management Segment [Member]
Identifiable Assets Acquired at Fair Value:
Land					0
Buildings, fixtures and improvements					0
Intangible lease assets					0
Total real estate investments					0
Investment in unconsolidated entities					3,307
Investment securities					0
Loans held for investment					0
Cash and cash equivalents					20,413
Restricted cash					0
Intangible assets					385,368
Deferred costs and other assets					50,893
Due from affiliates					3,301
Total identifiable assets acquired					463,282
Identifiable Liabilities Assumed at Fair Value:
Mortgage notes payable					0
Credit facilities					0
Other debt					0
Below-market lease liabilities					0
Accounts payable and accrued expenses					54,615
Deferred rent, derivative and other liabilities					167,458
Dividends payable					0
Due to affiliates					44
Total liabilities assumed					222,117
Non-controlling interests					0
Net identifiable assets acquired					241,165
Goodwill	558,800				558,835
Net assets acquired					$800,000

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

Segment_Reporting_Detail

Segment Reporting (Detail) (USD $)	3 Months Ended				12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013		Dec. 31, 2013
	Segment		Mar. 31, 2013		Security
Segment Reporting Information [Line Items]
Number of reportable segments	2
Minimum Lease Term of Contract Considered Long-term	10 years
Rental income	$244,415	[1]	$40,987	[1]
Direct financing lease income	1,006	[1]	0	[1]
Total real estate investment revenues	321,154	[1]	42,897	[1]
Total Cole Capital revenues	54,257	[1]	0	[1]
Merger and other non-routine transactions	160,298	[1],[2]	123,568	[1],[2]
Property operating expenses	29,755	[1]	2,549	[1]
Management fees to affiliates	13,888	[1],[3]	12,493	[1],[3]
General and administrative expenses	56,492	[1]	7,772	[1]
Depreciation and amortization	173,842	[1]	26,753	[1]
Total operating expenses	482,128	[1]	183,462	[1]
Operating loss	-160,974	[1]	-140,565	[1]
Interest expense, net	-120,951	[1]	-6,801	[1]
Extinguishment of debt, net	-9,399	[1],[4]	0	[1],[4]
Other income, net	10,210	[1]	999	[1]
Loss on derivative instruments, net	-7,121	[1]	-5	[1]
Loss on disposition of properties, net	-17,605	[1],[5]	0	[1],[5]
Gain on sale of investments	0	[1]	451	[1]
Total other expense	-144,866	[1]	-5,356	[1]
Loss from continuing operations	-305,840	[1]	-145,921	[1]
Loss from operations of held for sale properties	0	[1]	-16	[1]
Gain on held for sale properties	-17,605	[1]	0	[1]
Loss from discontinued operations	0	[1]	-16	[1]
Net loss	-305,840	[1]	-145,937	[1]
Cole Capital reallowed fees and commissions	34,436	[1]	0	[1]
Assets	20,488,095	[1]	3,615,440		7,809,083	[1]
Minimum [Member]
Segment Reporting Information [Line Items]
Lease Term of Contract, Remaining Term Considered Medium-term	3 years
Maximum [Member]
Segment Reporting Information [Line Items]
Lease Term of Contract, Remaining Term Considered Medium-term	8 years
Real Estate Investment Segment [Member]
Segment Reporting Information [Line Items]
Number of loans held for investment	14
Rental income	244,415		40,987
Direct financing lease income	1,006		0
Operating expense reimbursements	21,476		1,910
Total real estate investment revenues	266,897		42,897
Acquisition related	13,417		10,327
Merger and other non-routine transactions	159,794		123,568
Property operating expenses	29,755		2,549
Management fees to affiliates	13,888		12,493
General and administrative expenses	35,661		7,772
Depreciation and amortization	159,483		26,753
Total operating expenses	411,998		183,462
Operating loss	-145,101		-140,565
Interest expense, net	-120,951		-6,801
Extinguishment of debt, net	-9,399		0
Other income, net	3,959		999
Loss on derivative instruments, net	-7,121		-5
Loss on disposition of properties, net	-17,605		0
Gain on sale of investments	0		451
Total other expense	-151,117		-5,356
Loss from continuing operations	-296,218		-145,921
Loss from operations of held for sale properties	0		-16
Gain on held for sale properties	0		0
Loss from discontinued operations	0		-16
Net loss	-296,218		-145,937
Assets	19,487,003				7,809,083
Real Estate Investment Segment [Member] \| Long Term [Member]
Segment Reporting Information [Line Items]
Real estate portfolio, property concentration, percentage	70.00%
Real Estate Investment Segment [Member] \| Medium Term [Member]
Segment Reporting Information [Line Items]
Real estate portfolio, property concentration, percentage	30.00%
Real Estate Investment Segment [Member] \| Minimum [Member]
Segment Reporting Information [Line Items]
Real estate portfolio, property average remaining lease term			10 years
Real Estate Investment Segment [Member] \| Maximum [Member]
Segment Reporting Information [Line Items]
Real estate portfolio, property average remaining lease term			12 years
Real Estate Investment Segment [Member] \| Consolidated Properties [Member]
Segment Reporting Information [Line Items]
Number of owned properties	3,809
Square feet of property	101,800,000
Number of states in which entity operates	49
Percentage of rentable space leased	98.90%
Real estate property, weighted average remaining lease term	10 years 2 months 12 days
Real Estate Investment Segment [Member] \| Unconsolidated Properties [Member]
Segment Reporting Information [Line Items]
Number of owned properties	6
Net rentable area	1,600,000
Private Capital Management Segment [Member]
Segment Reporting Information [Line Items]
Dealer manager and distribution fees, selling commissions and offering reimbursements	42,453		0
Transaction service fees	4,559		0
Management fees and reimbursements	7,245		0
Total Cole Capital revenues	54,257		0
Merger and other non-routine transactions	504		0
General and administrative expenses	20,831		0
Depreciation and amortization	14,359		0
Total operating expenses	70,130		0
Cole Capital reallowed fees and commissions	34,436		0
Total other income	6,251		0
Net loss from continuing operations	-9,622		0
Assets	$1,001,092				0
Commercial Mortgage Backed Securities [Member]
Segment Reporting Information [Line Items]
Number of securities acquired	25				10
Commercial Mortgage Backed Securities [Member] \| Real Estate Investment Segment [Member]
Segment Reporting Information [Line Items]
Number of securities acquired	25

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	This line item caption has been updated to merger and other non-routine transactions in the accompanying consolidated statements of operations.
[3]	This line item caption has been updated to management fees to affiliates in the accompanying consolidated statements of operations.
[4]	This line item caption has been added and is included in the accompanying consolidated statements of operations for the period ended March 31, 2014.
[5]	This line item caption has been updated to loss on disposition of properties, net in the accompanying consolidated statements of operations.

Real_Estate_Investments_Detail

Real Estate Investments (Detail) (USD $)	3 Months Ended				0 Months Ended		3 Months Ended	36 Months Ended
	Mar. 31, 2014		Mar. 31, 2013		Feb. 07, 2014	Jun. 28, 2013	Sep. 30, 2013	Dec. 31, 2013
	Property		Property		Feb. 07, 2014	Property	Sep. 30, 2013	Dec. 31, 2013
Business Acquisition [Line Items]
Number of properties acquired	215		112
Land	$133,903,000		$74,700,000
Buildings, fixtures and improvements	694,935,000		291,664,000
Total tangible assets	828,838,000		366,364,000
Acquired intangible assets: In-place leases	120,421,000		45,223,000
Above-market leases	11,559,000		0
Below-market leases	-1,156,000		0
Fair value adjustment of assumed notes payable	-23,589,000		0
Total purchase price of assets acquired, net	936,073,000		411,587,000
Notes payable assumed	-301,532,000		0
Cash paid for acquired real estate investments	634,541,000		411,587,000
Merger and other non-routine transactions	160,298,000	[1],[2]	123,568,000	[1],[2]
Pro forma revenues	414,320,000		44,330,000
Pro forma net income (loss) attributable to stockholders	-2,937,000		3,146,000
Future Minimum Payments, April 1, 2014 - December 31, 2014	921,815,000
Future Minimum Direct Financing Lease Payments, April 1, 2014 - December 31, 2014	3,802,000
Future Minimum Payments, 2015	1,152,446,000
Future Minimum Direct Financing Lease Payments, 2015	4,757,000
Future Minimum Payments, 2016	1,127,440,000
Future Minimum Direct Financing Lease Payments, 2016	4,674,000
Future Minimum Payments, 2017	1,075,967,000
Future Minimum Direct Financing Lease Payments, 2017	4,273,000
Future Minimum Payments, 2018	1,021,150,000
Future Minimum Direct Financing Lease Payments, 2018	3,183,000
Future Minimum Payments, Thereafter	7,251,560,000
Future Minimum Direct Financing Lease Payments, Thereafter	10,052,000
Future Minimum Payments, Total	12,550,378,000
Future Minimum Direct Financing Lease Payments, Total	30,741,000
Unguaranteed residual value of property	47,089,000							46,172,000
Unearned income	-12,367,000							-13,789,000
Net investment in direct financing leases	65,723,000	[1]						66,112,000	[1]
Land	3,224,257,000	[1]	337,606,000					1,380,308,000	[1]
Reclassifications And Immaterial Adjustments [Member]
Business Acquisition [Line Items]
Merger and other non-routine transactions	0	[2]	0	[2]
Future Minimum Direct Financing Lease Payments, Total	31,001,000							33,729,000
Net investment in direct financing leases	0							0
Land	0		0					0
Development Activities [Member]
Business Acquisition [Line Items]
Number of land parcels acquired	5
Estimated cost to complete construction	7,900,000
Land	4,600,000
Acquisitions 2014 Excluding Cole Merger [Member]
Business Acquisition [Line Items]
Number of properties acquired	215
Number of land parcels acquired	5
Business combination, consideration transferred	936,100,000
Merger and other non-routine transactions	13,400,000		10,300,000
Cole Merger [Member]
Business Acquisition [Line Items]
Business combination, consideration transferred					7,467,643,000
Merger and other non-routine transactions	160,300,000		123,600,000
GE Capital Portfolio [Member] \| Direct Financing Lease [Member]
Business Acquisition [Line Items]
Number of properties acquired						47
Columbia, South Carolina [Member]
Business Acquisition [Line Items]
Number of square feet	450,000
Investment amount, total	22,000,000
Property investment, amount	20,100,000
Interest costs capitalized	45,000
Remaining investment amount	1,900,000
The Woodlands, Texas [Member]
Business Acquisition [Line Items]
Number of square feet	150,000
Investment amount, total	34,000,000
Property investment, amount	12,300,000
Interest costs capitalized	37,000
Remaining investment amount	21,700,000
Proceeds from senior corporate credit facility	$17,000,000
Cost overruns percentage split	50.00%
Percentage of square footage leased							95.00%
The Woodlands, Texas [Member] \| Parent [Member]
Business Acquisition [Line Items]
Equity Contributions Percentage								90.00%
The Woodlands, Texas [Member] \| Developer [Member]
Business Acquisition [Line Items]
Equity Contributions Percentage								10.00%
Geographic Concentration Risk [Member] \| Texas
Business Acquisition [Line Items]
Concentration Risk, Percentage	12.10%
Customer Concentration Risk [Member]
Business Acquisition [Line Items]
Concentration Risk, Percentage	10.00%
Walgreens [Member]
Business Acquisition [Line Items]
Concentration Risk, Percentage	15.60%
Dollar General [Member]
Business Acquisition [Line Items]
Concentration Risk, Percentage			12.00%
Citizens Bank [Member]
Business Acquisition [Line Items]
Concentration Risk, Percentage			12.00%

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	This line item caption has been updated to merger and other non-routine transactions in the accompanying consolidated statements of operations.

Investment_Securities_at_Fair_2

Investment Securities, at Fair Value (Detail) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Dec. 31, 2013		Mar. 31, 2013
Commercial mortgage backed securities, maturities, amortized cost basis
Available-for-sale Securities, Amortized Cost Basis	$210,681		$62,041
Commercial mortgage backed securities, maturities, fair value
Investment securities, at fair value	213,803	[1]	62,067	[1]	61,604
Available-for-sale Securities, Gross Unrealized Gain	3,589		498
Available-for-sale Securities, Gross Unrealized Loss	-467		-472
Investment securities, at fair value	213,803	[1]	62,067	[1]	61,604
Securities Assets [Member]
Commercial mortgage backed securities, maturities, amortized cost basis
Available-for-sale Securities, Amortized Cost Basis	1,605		1,589
Commercial mortgage backed securities, maturities, fair value
Investment securities, at fair value	1,648		1,484
Available-for-sale Securities, Gross Unrealized Gain	43		0
Available-for-sale Securities, Gross Unrealized Loss	0		-105
Investment securities, at fair value	1,648		1,484
Commercial Mortgage Backed Securities [Member]
Commercial mortgage backed securities, maturities, amortized cost basis
Due within one year	0
Due after one year through five years	1,325
Due after five years through 10 years	178,885
Due after 10 years	28,866
Amortized cost basis, total	209,076
Available-for-sale Securities, Amortized Cost Basis	209,076		60,452
Commercial mortgage backed securities, maturities, fair value
Due within one year	0
Due after one year through five years	1,348
Due after five years through 10 years	181,055
Due after 10 years	29,752
Investment securities, at fair value	212,155		60,583
Available-for-sale Securities, Gross Unrealized Gain	3,546		498
Available-for-sale Securities, Gross Unrealized Loss	-467		-367
Investment securities, at fair value	$212,155		$60,583

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

Investment_Securities_at_Fair_3

Investment Securities, at Fair Value - Narrative (Detail) (USD $)	3 Months Ended		12 Months Ended		0 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Dec. 31, 2013		Feb. 07, 2014	Mar. 31, 2013
	Security		Security		Securities	Mar. 31, 2013
Investment [Line Items]
Investment securities, at fair value	$213,803	[1]	$62,067	[1]		$61,604
Commercial Mortgage Backed Securities [Member]
Investment [Line Items]
Number of securities acquired	25		10
Investment securities, at fair value	212,155		60,583
Number of securities acquired, fair value below amortized cost	6
Commercial Mortgage Backed Securities [Member] \| Estimate of Fair Value Measurement [Member]
Investment [Line Items]
Investment securities, at fair value	212,200		60,600
Cole Merger [Member] \| Commercial Mortgage Backed Securities [Member]
Investment [Line Items]
Number of securities acquired					15
Cole Merger [Member] \| Commercial Mortgage Backed Securities [Member] \| Estimate of Fair Value Measurement [Member]
Investment [Line Items]
Investment securities, at fair value					151,200

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

Loans_Held_for_Investment_Deta

Loans Held for Investment (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014		Dec. 31, 2013		Feb. 07, 2013	Nov. 05, 2013
	Mar. 31, 2014		Dec. 31, 2013		Mortgage_Notes	Nov. 05, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, net	98,185,000	[1]	$26,279,000	[1]
Mortgage Notes Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans on real estate, commercial and consumer, net	72,300,000
Number of mortgage notes receivable (in mortgage notes receivable)					2
CapLease [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans held for investment	12
Loans held for investment						26,457,000	[2]
Loans held for investment, net			$26,300,000
CapLease [Member] \| Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	5.28%
CapLease [Member] \| Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	7.24%

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	As reported in the Amended 10-K.

Deferred_Costs_and_Other_Asset2

Deferred Costs and Other Assets, Net (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013		Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Deferred costs, net	$128,992				$84,746
Depreciation	0	[1]	22,073	[1]
Accounts receivable, net	54,664	[2]			16,254	[2]
Straight-line rent receivable	26,505				19,010
Prepaid expenses	21,502				43,801
Leasehold improvements, property and equipment, net	20,920	[3]			531	[3]
Restricted escrow deposits	19,154				101,813
Derivative assets, at fair value	9,829				9,189
Other assets	22,531				5,982
Total, deferred costs and other assets, net	304,097	[4]	228,622		281,326	[4]
Allowance for doubtful accounts receivable	1,000				187
Leasehold Improvements [Member] \| Cole Merger [Member]
Property, Plant and Equipment [Line Items]
Amortization	172
Accumulated depreciation, depletion and amortization, property, plant, and equipment	178				7
Office Furniture, Fixtures and Equipment and Computer Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
Depreciation	217
Accumulated depreciation, depletion and amortization, property, plant, and equipment	$222				$5

[1]	These five depreciation and amortization line item captions have been consolidated into one line item caption named depreciation and amortization in the accompanying consolidated statements of cash flows.
[2]	Allowance for doubtful accounts was $1.0 million and $187,000 as of March 31, 2014 and December 31, 2013, respectively.
[3]	Amortization expense for leasehold improvements totaled $172,000 for the three months ended March 31, 2014. Accumulated amortization was $178,000 and $7,000 as of March 31, 2014 and December 31, 2013, respectively. Depreciation expense for property and equipment totaled $217,000 for the three months ended March 31, 2014. Accumulated depreciation was $222,000 and $5,000 as of March 31, 2014 and December 31, 2013, respectively.
[4]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments Fair Value of Financial Instruments (Narrative) (Detail) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
	Mar. 31, 2014	Mar. 31, 2013	Property
Real Estate Assets [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure			$1,200,000
Error Corrections [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of properties impaired			2
Impairment of real estate	0	0	3,300,000
Carrying (Reported) Amount, Fair Value Disclosure [Member] \| Error Corrections [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate assets, carrying value of impaired property			$4,500,000

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments (Fair Value, by Balance Sheet Grouping) (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Dec. 31, 2013		Mar. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities, at fair value	$213,803	[1]	$62,067	[1]	$61,604
Net Amounts of Assets Presented in the Consolidated Balance Sheets	9,829		9,189
Derivative Financial Instruments, Liabilities, Fair Value Disclosure	-35,471		-18,455		-5,012
Loans held for investment	98,185	[1]	26,279	[1]
Commercial Mortgage Backed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities, at fair value	212,155		60,583
Estimate of Fair Value Measurement [Member] \| Commercial Mortgage Backed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities, at fair value	212,200		60,600
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	43,847
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Unrealized Gain Included in Other Comprehensive Income, Net	2,948
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Changes in Fair Value Included in Net Income, Net	-11,295
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Purchase/Issuance	147,591
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Amortization Included in Net Income, Net	-2,573
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	180,518
Fair Value, Inputs, Level 3 [Member] \| Commercial Mortgage Backed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	60,583
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Unrealized Gain Included in Other Comprehensive Income, Net	2,948
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Changes in Fair Value Included in Net Income, Net	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Purchase/Issuance	151,197
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Amortization Included in Net Income, Net	-2,573
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	212,155
Fair Value, Inputs, Level 3 [Member] \| Series D Preferred Stock Embedded Derivative [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	-16,736
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Unrealized Gain Included in Other Comprehensive Income, Net	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Changes in Fair Value Included in Net Income, Net	-9,998
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Purchase/Issuance	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Amortization Included in Net Income, Net	0
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	-26,734
Fair Value, Inputs, Level 3 [Member] \| Contingent Consideration [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Unrealized Gain Included in Other Comprehensive Income, Net	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Changes in Fair Value Included in Net Income, Net	-1,297
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Purchase/Issuance	-3,606
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Amortization Included in Net Income, Net	0
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	-4,903
Fair Value, Inputs, Level 3 [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	10,318,304		4,348,209
Fair Value, Inputs, Level 3 [Member] \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	10,349,477		4,353,996
Mortgages [Member] \| Fair Value, Inputs, Level 3 [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held for investment	98,185		26,279
Debt instrument, fair value disclosure	4,234,074		1,301,114
Mortgages [Member] \| Fair Value, Inputs, Level 3 [Member] \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held for investment	98,652		26,435
Debt instrument, fair value disclosure	4,265,230		1,305,823
Corporate Bonds [Member] \| Fair Value, Inputs, Level 3 [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	2,545,884		0
Corporate Bonds [Member] \| Fair Value, Inputs, Level 3 [Member] \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	2,545,884		0
Convertible Senior Notes [Member] \| Fair Value, Inputs, Level 3 [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	973,737		972,490
Convertible Senior Notes [Member] \| Fair Value, Inputs, Level 3 [Member] \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	976,629		976,629
Senior Secured Credit Facility [Member] \| Fair Value, Inputs, Level 3 [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	2,265,800		1,819,800
Senior Secured Credit Facility [Member] \| Fair Value, Inputs, Level 3 [Member] \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	2,265,800		1,819,800
Term Loan [Member] \| Fair Value, Inputs, Level 3 [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	53,958		58,979
Term Loan [Member] \| Fair Value, Inputs, Level 3 [Member] \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	54,035		59,049
Trust Preferred Securities Subject to Mandatory Redemption [Member] \| Fair Value, Inputs, Level 3 [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	26,563		26,548
Trust Preferred Securities Subject to Mandatory Redemption [Member] \| Fair Value, Inputs, Level 3 [Member] \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	23,485		23,345
Unsecured Debt [Member] \| Fair Value, Inputs, Level 3 [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member] \| Revolving Credit Facility [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	150,000		150,000
Unsecured Debt [Member] \| Fair Value, Inputs, Level 3 [Member] \| Estimate of Fair Value Measurement [Member] \| Revolving Credit Facility [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	150,000		150,000
Other Debt Obligations [Member] \| Fair Value, Inputs, Level 3 [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	68,288		19,278
Other Debt Obligations [Member] \| Fair Value, Inputs, Level 3 [Member] \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	68,414		19,350
Fair Value, Measurements, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Fair Value Disclosure	223,632		71,256
Total liabilities	-40,374		-18,455
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Fair Value Disclosure	0		0
Total liabilities	0		0
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Fair Value Disclosure	11,477		10,673
Total liabilities	-8,737		-1,719
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Fair Value Disclosure	212,155		60,583
Total liabilities	-31,637		-16,736
Equity Securities [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities, at fair value	1,648		1,484
Equity Securities [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities, at fair value	0		0
Equity Securities [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities, at fair value	1,648		1,484
Equity Securities [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities, at fair value	0		0
Commercial Mortgage Backed Securities [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities, at fair value	212,155		60,583
Commercial Mortgage Backed Securities [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities, at fair value	0		0
Commercial Mortgage Backed Securities [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities, at fair value	0		0
Commercial Mortgage Backed Securities [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities, at fair value	212,155		60,583
Interest Rate Swap [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Net Amounts of Assets Presented in the Consolidated Balance Sheets	9,829		9,189
Derivative Financial Instruments, Liabilities, Fair Value Disclosure	-8,737		-1,719
Interest Rate Swap [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Net Amounts of Assets Presented in the Consolidated Balance Sheets	0		0
Derivative Financial Instruments, Liabilities, Fair Value Disclosure	0		0
Interest Rate Swap [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Net Amounts of Assets Presented in the Consolidated Balance Sheets	9,829		9,189
Derivative Financial Instruments, Liabilities, Fair Value Disclosure	-8,737		-1,719
Interest Rate Swap [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Net Amounts of Assets Presented in the Consolidated Balance Sheets	0		0
Derivative Financial Instruments, Liabilities, Fair Value Disclosure	0		0
Series D Preferred Stock Embedded Derivative [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Financial Instruments, Liabilities, Fair Value Disclosure	-26,734		-16,736
Series D Preferred Stock Embedded Derivative [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Financial Instruments, Liabilities, Fair Value Disclosure	0		0
Series D Preferred Stock Embedded Derivative [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Financial Instruments, Liabilities, Fair Value Disclosure	0		0
Series D Preferred Stock Embedded Derivative [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Financial Instruments, Liabilities, Fair Value Disclosure	-26,734		-16,736
Contingent Consideration [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration arrangements	-4,903
Contingent Consideration [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration arrangements	0
Contingent Consideration [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration arrangements	0
Contingent Consideration [Member] \| Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration arrangements	($4,903)

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

Mortgage_Note_Payable_Schedule

Mortgage Note Payable (Schedule of Mortgage Notes Payable) (Detail) (USD $)	0 Months Ended	3 Months Ended		12 Months Ended
	Feb. 18, 2014	Mar. 31, 2014		Dec. 31, 2013		Mar. 31, 2013
	Feb. 18, 2014	Property		Property		Mar. 31, 2013
Mortgage Loans on Real Estate [Line Items]
Outstanding Loan Amount		$4,234,074,000	[1]	$1,301,114,000	[1]	$265,118,000
Mortgages [Member]
Mortgage Loans on Real Estate [Line Items]
Encumbered Properties		697		177
Outstanding Loan Amount		4,128,384,000		1,258,661,000
Weighted Average Effective Interest Rate		4.83%	[2]	3.42%	[2]
Weighted Average Maturity	2 years 2 months 12 days	6 years 2 months 23 days	[3]	3 years 4 months 28 days	[3]
Long-term debt, defeased		722,300,000
Long-term debt, defeased, prepayments and swap breakage fee		29,000,000
Payment to settle interest rate swaps		10,100,000
Write off of deferred debt issuance cost		-19,600,000
Mortgages [Member] \| Adjustment [Member]
Mortgage Loans on Real Estate [Line Items]
Weighted Average Effective Interest Rate		5.16%
Mortgages [Member] \| Minimum [Member]
Mortgage Loans on Real Estate [Line Items]
Effective interest rate		2.41%		1.83%
Mortgages [Member] \| Maximum [Member]
Mortgage Loans on Real Estate [Line Items]
Effective interest rate		7.20%		6.28%
CapLease [Member]
Mortgage Loans on Real Estate [Line Items]
Mortgages assumed in real estate acquisitions		137,400,000
Debt instrument, unamortized discount (premium), net		$106,300,000

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	Mortgage notes payable primarily have fixed rates or are fixed by way of interest rate swap arrangements. Effective interest rates range from 2.41% to 7.20% at March 31, 2014 and 1.83% to 6.28% at December 31, 2013.
[3]	Weighted average remaining years until maturity as of March 31, 2014 and December 31, 2013, respectively.

Mortgage_Note_Payable_Schedule1

Mortgage Note Payable (Schedule Of Aggregate Future Principal Payments On Mortgage Notes Payable) (Detail) (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2014
Mortgage Loans on Real Estate [Line Items]
April 1, 2014 - December 31, 2014	$56,925
2015	11,862
2016	12,516
2017	26,890
2018	13,267
Thereafter	30,930
Total	152,390
Mortgages [Member]
Mortgage Loans on Real Estate [Line Items]
April 1, 2014 - December 31, 2014	134,152
2015	202,578
2016	242,769
2017	567,950
2018	252,923
Thereafter	2,728,012
Total	$4,128,384

Other_Debt_Bond_Offering_Detai

Other Debt - Bond Offering (Detail) (Unsecured Debt [Member], USD $)	0 Months Ended
In Millions, unless otherwise specified	Feb. 07, 2014	Mar. 31, 2014	Feb. 07, 2014
Senior Unsecured Note [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$2,550		$2,550
Debt instrument, redemption price, percentage	100.00%
Debt instrument, unamortized discount (premium), net	4.2	4.1	4.2
Two Percent Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	1,300		1,300
Debt Instrument, Interest Rate, Stated Percentage	2.00%		2.00%
Three Percent Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	750		750
Debt Instrument, Interest Rate, Stated Percentage	3.00%		3.00%
Four Point Six Percent Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$500		$500
Debt Instrument, Interest Rate, Stated Percentage	4.60%		4.60%

Other_Debt_Convertible_Senior_

Other Debt - Convertible Senior Note Offering (Detail) (USD $)	0 Months Ended	3 Months Ended	0 Months Ended	3 Months Ended
	Jul. 29, 2013	Sep. 30, 2013	Dec. 10, 2013	Mar. 31, 2014
Debt Instrument [Line Items]
Long-term Debt				$152,390,000
Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Proceeds from issuance of convertible debt	300,000,000
Original 2018 Notes [Member] \| Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value				299,600,000
Debt Instrument, Unamortized Discount				10,400,000
Original 2018 Notes [Member] \| Underwriter's Option to Purchase Addtional Notes, Proceeds [Member] \| Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Proceeds from issuance of convertible debt		10,000,000
Reopened 2018 Notes [Member] \| Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value				282,100,000
Debt Instrument, Unamortized Discount				5,400,000
Reopened 2018 Notes [Member] \| Underwriter's Option to Purchase Addtional Notes, Proceeds [Member] \| Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Proceeds from issuance of convertible debt		287,500,000
2020 Notes [Member] \| Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Proceeds from issuance of convertible debt			402,500,000
Long-term Debt, Fair Value				389,700,000
Debt Instrument, Unamortized Discount			12,800,000	26,300,000
Debt Instrument, Convertible, Conversion Price, Per Conversion				66.0262
Shares Converted Per Amount				1,000
Debt Instrument, Interest Rate, Stated Percentage			3.75%
Long-term Debt				390,200,000
Carrying (Reported) Amount, Fair Value Disclosure [Member] \| Original 2018 Notes [Member] \| Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value				301,000,000
Debt Instrument, Convertible, Conversion Price, Per Conversion				59.805
Shares Converted Per Amount				1,000
Carrying (Reported) Amount, Fair Value Disclosure [Member] \| Reopened 2018 Notes [Member] \| Convertible Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value				$282,500,000

Other_Debt_Trust_Preferred_Not

Other Debt - Trust Preferred Notes (Detail) (USD $)	3 Months Ended
Other Debt - Trust Preferred Notes (Detail) (USD $)	Mar. 31, 2014	Nov. 05, 2013
Debt Instrument [Line Items]
Long-term Debt	$152,390,000
CapLease [Member]
Debt Instrument [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, non-current liabilities, long-term debt		114,208,000	[1]
CapLease [Member] \| Unsecured Debt [Member] \| Trust Preferred Notes [Member]
Debt Instrument [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, non-current liabilities, long-term debt	30,900,000
Long-term Debt, Fair Value	26,500,000
Debt Instrument, Interest Rate, Stated Percentage	7.68%
Debt instrument, basis spread on variable rate	2.60%
Long-term Debt	$26,600,000

[1]	As reported in the Amended 10-K.

Other_Debt_Secured_Term_Loan_D

Other Debt - Secured Term Loan (Detail) (USD $)	3 Months Ended
Other Debt - Secured Term Loan (Detail) (USD $)	Mar. 31, 2014
Debt Instrument [Line Items]
Long-term Debt	$152,390,000
CapLease [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	19,300,000
Debt Instrument, Interest Rate, Stated Percentage	7.50%
Long-term Debt	19,300,000
CapLease [Member] \| Senior Notes [Member] \| Secured Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	59,800,000
Debt Instrument, Interest Rate, Stated Percentage	5.81%
Repayments of Long-term Debt	4,900,000
Long-term Debt	53,237,000
CapLease [Member] \| Senior Notes [Member] \| Secured Term Loan [Member] \| Estimate of Fair Value Measurement [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	60,700,000
CapLease [Member] \| Senior Notes [Member] \| Secured Term Loan [Member] \| Carrying (Reported) Amount, Fair Value Disclosure [Member]
Debt Instrument [Line Items]
Long-term Debt	$54,000,000

Other_Debt_Secured_Term_Loan_B

Other Debt - Secured Term Loan Borrowings and Collateral (Detail) (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2014
Debt Instrument [Line Items]
Long-term Debt	$152,390
Mortgages [Member]
Debt Instrument [Line Items]
Long-term Debt	4,128,384
Mortgages [Member] \| Loans Held For Investment [Member]
Debt Instrument [Line Items]
Long-term Debt	13,802
Debt Instrument, Collateral Value	22,197
Mortgages [Member] \| Intercompany Mortgage Loans [Member]
Debt Instrument [Line Items]
Long-term Debt	7,291
Debt Instrument, Collateral Value	19,117
Mortgages [Member] \| Commercial Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Long-term Debt	32,144
Debt Instrument, Collateral Value	44,506
CapLease [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt	19,300
CapLease [Member] \| Senior Notes [Member] \| Secured Term Loan [Member]
Debt Instrument [Line Items]
Long-term Debt	53,237
Debt Instrument, Collateral Value	$85,820

Other_Debt_Other_Debt_Detail

Other Debt - Other Debt (Detail) (USD $)	3 Months Ended
Other Debt - Other Debt (Detail) (USD $)	Mar. 31, 2014	Nov. 05, 2013
Debt Instrument [Line Items]
Long-term Debt	$152,390,000
CapLease [Member]
Debt Instrument [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, non-current liabilities, long-term debt		114,208,000	[1]
Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount	3,600,000
Senior Notes [Member] \| CapLease [Member]
Debt Instrument [Line Items]
Business combination, recognized identifiable assets acquired and liabilities assumed, non-current liabilities, long-term debt	19,200,000
Debt Instrument, Interest Rate, Stated Percentage	7.50%
Long-term Debt, Fair Value	19,300,000
Percentage price of original principal amount of debt at which debt can be redeemed by the issuer	100.00%
Long-term Debt	19,300,000
Debt Instrument, Unamortized Discount	$3,500,000

[1]	As reported in the Amended 10-K.

Other_Debt_Future_Minimum_Repa

Other Debt - Future Minimum Repayments (Detail) (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2014
Debt Disclosure [Abstract]
April 1, 2014 - December 31, 2014	$56,925
2015	11,862
2016	12,516
2017	26,890
2018	13,267
Thereafter	30,930
Long-term Debt	$152,390

Other_Debt_Barclays_Facility_D

Other Debt - Barclay's Facility (Detail) (USD $)	3 Months Ended
Other Debt - Barclay's Facility (Detail) (USD $)	Mar. 31, 2014		Mar. 31, 2013
Debt Instrument [Line Items]
Amortization of discounts and premiums	$0	[1]	$0	[1]
Senior Secured Credit Facility [Member] \| Barclays Bank PLC [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	2,100,000,000
Increase in Additional Borrowing Capacity	350,000,000
Amortization of discounts and premiums	$28,600,000

[1]	These five depreciation and amortization line item captions have been consolidated into one line item caption named depreciation and amortization in the accompanying consolidated statements of cash flows.

Other_Debt_Repurchase_Agreemen

Other Debt - Repurchase Agreements (Detail) (Secured Debt [Member], Commercial Mortgage Backed Securities [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Assets Sold under Agreements to Repurchase [Line Items]
Securities sold under agreements to repurchase	$49
Weighted Average Maturity	7 years 11 months 4 days
Assets sold under agreements to repurchase, market value	140.9
Assets sold under agreements to repurchase, carrying amount	$139.30
Minimum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets sold under agreements to repurchase, interest rate	1.35%
Maximum [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Assets sold under agreements to repurchase, interest rate	1.75%

Credit_Facilities_Detail

Credit Facilities (Detail) (USD $)	0 Months Ended	3 Months Ended
Credit Facilities (Detail) (USD $)	Feb. 14, 2013	Mar. 31, 2014		Dec. 31, 2013		Mar. 31, 2013
Line of Credit Facility [Line Items]
Outstanding Loan Amount		4,234,074,000	[1]	$1,301,114,000	[1]	$265,118,000
Line of credit facility, amount outstanding		2,415,800,000	[1]	1,969,800,000	[1]	640,000,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Effective interest rate	3.11%
Senior Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Extinguishment of Debt, Amount	124,600,000
Senior Secured Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, amount outstanding		0	[2]	0	[2]
Senior Secured Credit Facility [Member] \| Senior Corporate Credit Facility [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Line of credit facility, commitment fee percentage		0.15%
Senior Secured Credit Facility [Member] \| Senior Corporate Credit Facility [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Line of credit facility, commitment fee percentage		0.25%
Senior Secured Credit Facility [Member] \| Senior Corporate Credit Facility [Member] \| Senior Secured Credit Facility [Member]
Line of Credit Facility [Line Items]
Outstanding Loan Amount		3,000,000,000
Line of credit, amount bearing fixed interest rate, percentage		2.54%
Line of credit facility, maximum borrowing capacity		684,200,000
Senior Secured Credit Facility [Member] \| Senior Corporate Credit Facility [Member] \| Senior Secured Credit Facility [Member] \| Minimum [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		2.25%
Senior Secured Credit Facility [Member] \| Senior Corporate Credit Facility [Member] \| Senior Secured Credit Facility [Member] \| Maximum [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		3.00%
Senior Secured Credit Facility [Member] \| Senior Corporate Credit Facility [Member] \| Term Loan [Member]
Line of Credit Facility [Line Items]
Line of credit facility, amount outstanding		940,000,000
Senior Secured Credit Facility [Member] \| Senior Corporate Credit Facility [Member] \| Term Loan [Member] \| Minimum [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		1.15%
Senior Secured Credit Facility [Member] \| Senior Corporate Credit Facility [Member] \| Term Loan [Member] \| Maximum [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		2.00%
Senior Secured Credit Facility [Member] \| Senior Corporate Credit Facility [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, amount outstanding		1,300,000,000
Line of credit facility, current borrowing capacity		2,000,000,000
Senior Secured Credit Facility [Member] \| Senior Corporate Credit Facility [Member] \| Revolving Credit Facility [Member] \| Minimum [Member] \| Applicable Rate [Member]
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		0.90%
Senior Secured Credit Facility [Member] \| Senior Corporate Credit Facility [Member] \| Revolving Credit Facility [Member] \| Maximum [Member] \| Applicable Rate [Member]
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		1.75%
Senior Secured Credit Facility [Member] \| Senior Corporate Credit Facility [Member] \| Fixed Rate Line of Credit [Member]
Line of Credit Facility [Line Items]
Line of credit facility, amount outstanding		940,000,000
Senior Secured Credit Facility [Member] \| Senior Corporate Credit Facility [Member] \| Variable Interest Rate [Member]
Line of Credit Facility [Line Items]
Line of credit facility, amount outstanding		1,300,000,000
Debt instrument, interest rate, stated percentage		3.15%
Unsecured Debt [Member]
Line of Credit Facility [Line Items]
Line of credit facility, amount outstanding		2,415,800,000		1,969,800,000
Unsecured Debt [Member] \| Regions Bank Unsecured Credit Facility [Member] \| Senior Secured Credit Facility [Member] \| ARCT IV / ARCP Merger [Member]
Line of Credit Facility [Line Items]
Line of credit facility, amount outstanding		760,000,000
Debt instrument, face amount		800,000,000
Unsecured Debt [Member] \| Regions Bank Unsecured Credit Facility [Member] \| Term Loan [Member] \| ARCT IV / ARCP Merger [Member]
Line of Credit Facility [Line Items]
Line of credit facility, amount outstanding		300,000,000
Unsecured Debt [Member] \| Regions Bank Unsecured Credit Facility [Member] \| Revolving Credit Facility [Member] \| ARCT IV / ARCP Merger [Member]
Line of Credit Facility [Line Items]
Line of credit facility, amount outstanding		460,000,000
Unsecured Debt [Member] \| Wells Fargo, National Association, Unsecured Credit Facility [Member] \| Senior Secured Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, amount outstanding		150,000,000
Line of credit facility, current borrowing capacity		150,000,000
Unsecured Debt [Member] \| Wells Fargo, National Association, Unsecured Credit Facility [Member] \| Senior Secured Credit Facility [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		2.75%

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2]	This line item caption has been reclassified and included within credit facilities in the accompanying consolidated balance sheets for the period ended March 31, 2014.

Derivatives_and_Hedging_Activi2

Derivatives and Hedging Activities (Detail) (USD $)	3 Months Ended
Derivatives and Hedging Activities (Detail) (USD $)	Mar. 31, 2014		Mar. 31, 2013		Jan. 31, 2014
Derivatives, Fair Value [Line Items]
Amount of gain (loss) recognized in income on derivative (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing)	($7,121,000)	[1]	($5,000)	[1]
Cash Flow Hedging [Member] \| Designated as Hedging Instrument [Member] \| Interest Rate Lock Commitments [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount					250,000,000
Proceeds from derivative instrument	3,900,000
Cash Flow Hedging [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	734,800,000
Cash Flow Hedging [Member] \| Interest Rate Swap [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Assets Needed for Immediate Settlement, Aggregate Fair Value	10,300,000
Cash Flow Hedging [Member] \| Interest Rate Swap [Member] \| Designated as Hedging Instrument [Member] \| Interest Expense [Member]
Derivatives, Fair Value [Line Items]
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred	10,300,000
Cash Flow Hedging [Member] \| Interest Rate Swap [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Amount of gain (loss) recognized in income on derivative (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing)	($7,100,000)

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

Derivatives_and_Hedging_Activi3

Derivatives and Hedging Activities (Schedule of Interest Rate Derivatives) (Detail) (Cash Flow Hedging [Member], USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified	Derivative
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Number of Instruments	6
Derivative, Notional Amount	$734,800
Swap [Member] \| Designated as Hedging Instrument [Member]
Derivative [Line Items]
Number of Instruments	17
Derivative, Notional Amount	1,174,544
Swap [Member] \| Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Number of Instruments	5
Derivative, Notional Amount	234,800
Interest Rate Cap [Member] \| Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Number of Instruments	1
Derivative, Notional Amount	$500,000

Derivatives_and_Hedging_Activi4

Derivatives and Hedging Activities (Schedule of Derivative Instruments in Statement of Financial Position, Fair Value) (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Derivative [Line Items]
Derivative assets, at fair value	$9,829	$9,189
Derivative liabilities, at fair value	-35,471	-18,455
Interest Rate Contract [Member] \| Designated as Hedging Instrument [Member] \| Derivatives Assets, at Fair Value [Member]
Derivative [Line Items]
Derivative assets, at fair value	8,301	9,189
Interest Rate Contract [Member] \| Designated as Hedging Instrument [Member] \| Derivative Liabilities, at Fair Value [Member]
Derivative [Line Items]
Derivative liabilities, at fair value	-5,946	-1,719
Interest Rate Contract [Member] \| Not Designated as Hedging Instrument [Member] \| Derivative Liabilities, at Fair Value [Member]
Derivative [Line Items]
Derivative liabilities, at fair value	-2,791	0
Interest Rate Contract [Member] \| Not Designated as Hedging Instrument [Member] \| Deferred Costs and Other Assets Net [Member]
Derivative [Line Items]
Derivative assets, at fair value	1,528	0
Series D Preferred Stock Embedded Derivative [Member] \| Not Designated as Hedging Instrument [Member] \| Derivative Liabilities, at Fair Value [Member]
Derivative [Line Items]
Derivative liabilities, at fair value	($26,734)	($16,736)

Derivatives_and_Hedging_Activi5

Derivatives and Hedging Activities (Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance) (Detail) (Cash Flow Hedging [Member], Interest Rate Swap [Member], 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 income on interest rate derivatives (effective portion)	($3,839)	($1,859)
Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of loss reclassified from accumulated other comprehensive income into income as interest expense (effective portion)	($1,541)	($682)

Derivatives_and_Hedging_Activi6

Derivatives and Hedging Activities (Tabular Disclosure Offsetting Derivatives) (Detail) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Amounts of Recognized Assets	$9,829	$9,189
Gross Amounts of Recognized Liabilities	-35,471	-18,455
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Net Amounts of Assets Presented in the Consolidated Balance Sheet	9,829	9,189
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	-35,471	-18,455	-5,012
Financial Instruments	0	0
Cash Collateral Received	0	0
Derivative, Fair Value, Net	($25,642)	($9,266)

Accounts_Payable_and_Accrued_E2

Accounts Payable and Accrued Expenses (Detail) (USD $)	Mar. 31, 2014		Dec. 31, 2013		Mar. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014		Dec. 31, 2013		Mar. 31, 2013
Payables and Accruals [Abstract]
Accrued other	$50,237		$34,407
Accrued interest	42,944		14,189
Accrued real estate taxes	43,227		24,658
Accounts payable	13,044		5,887
Accrued merger costs			651,430
Accounts payable and accrued expenses	$149,542	[1]	$730,571	[1]	$647,061

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

Commitments_and_Contingencies_1

Commitments and Contingencies Future Obligations (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Nov. 08, 2013
	Property	Property	Dec. 31, 2013	Nov. 08, 2013
Unrecorded Unconditional Purchase Obligation [Line Items]
April 1, 2014 - December 31, 2014	$10,264,000
2015	12,922,000
2016	11,575,000
2017	10,248,000
2018	7,918,000
Thereafter	83,734,000
Total	136,661,000
Number of properties acquired	215	112
Escrow deposit	19,154,000		101,813,000
Purchase Commitment [Member] \| Private Capital Management Segment [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of purchase and sale agreements	41
Business acquisition, percentage of voting interests acquired	100.00%
Number of properties acquired	157
Business combination, consideration transferred	520,700,000
Escrow deposit	$10,100,000
Series B Cumulative Preferred [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Redeemable preferred stock percentage				8.38%
Series C Cumulative Preferred Stock [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Redeemable preferred stock percentage				7.25%

Preferred_and_Common_Stock_Det

Preferred and Common Stock (Detail) (USD $)	0 Months Ended			3 Months Ended				5 Months Ended		10 Months Ended	0 Months Ended
Preferred and Common Stock (Detail) (USD $)	Mar. 31, 2014		Oct. 24, 2013	Mar. 31, 2014		Mar. 31, 2013		Mar. 31, 2014		Oct. 22, 2013	Nov. 08, 2013	Jan. 03, 2014	Dec. 31, 2013		Sep. 15, 2013	Aug. 21, 2013	Aug. 01, 2012	Feb. 28, 2013
Class of Stock [Line Items]
Common stock, par value	$0.01	[1]		$0.01	[1]	$0.01		$0.01	[1]				$0.01	[1]	$0.01
Proceeds from issuances of common stock				$0	[1]	$1,317,389,000	[1]
Loss on derivative instruments, net				-7,121,000	[1]	-5,000	[1]
Common stock, shares authorized	1,500,000,000	[1]		1,500,000,000	[1]	240,000,000		1,500,000,000	[1]				750,000,000	[1]
Maximum Amount of Offering from Universal Shelf Registration Statement																	500,000,000
Authorized annual dividends, per share	$1		$1							$0.94
Authorized annual dividends increase (decrease), per share								$0.06
Stock Repurchase Program, Authorized Amount																250,000,000
Series D preferred stock [Member]
Class of Stock [Line Items]
Convertible preferred stock, par value	$0.01	[1]		$0.01	[1]			$0.01	[1]				$0.01	[1]	$0.01
Shares to be Issued											21,700,000
Proceeds from issuances of preferred shares											288,000,000
Preferred stock, dividend rate, percentage											5.81%
Preferred Stock, Redemption Price Per Share											$13.59
Dividends declared, in dollars per share											$0.79
Preferred Stock, Liquidation Preference Per Share											$13.59
Preferred Stock, Liquidation Preference, Additional Premium											20.00%
Preferred Stock, Redemption Terms, Liquidation Preference, Percent											102.00%
Preferred Stock, Redemption Terms, Volume Weighted Average Price, Percent											102.00%
Preferred Stock, Conversion Terms, Volume Weighted Average Price Of Common Stock											2.00%
Preferred Stock, Conversion Terms, Discount on Closing Price on Conversion Election Date, Percentage											2.00%
Preferred Stock, Conversion Terms, Volume Weighted Average Price, Percent											102.00%
Embedded Derivative, Fair Value of Embedded Derivative, Net	26,700,000			26,700,000				26,700,000					16,700,000		18,700,000
Loss on derivative instruments, net				10,000,000
Convertible preferred stock															269,300,000
Preferred stock, issued	21,735,008	[1]		21,735,008	[1]			21,735,008	[1]				21,735,008	[1]
Preferred stock, outstanding	21,735,008	[1]		21,735,008	[1]			21,735,008	[1]				21,735,008	[1]
Series F Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Redemption Price Per Share	$25			$25				$25
Dividends declared, in dollars per share				$1.68
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number	42,654,919			42,654,919				42,654,919
Percentage of Stock, Designated Cumulative Preferred Stock												6.70%
Common Stock [Member]
Class of Stock [Line Items]
Shares to be Issued											15,100,000
Proceeds from issuances of common stock											186,000,000
ARCT IV / ARCP Merger [Member] \| Series F Preferred Stock [Member]
Class of Stock [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares												42,200,000
ARCT IV / ARCP Merger [Member] \| Series F OP Units [Member]
Class of Stock [Line Items]
Preferred stock, issued	266,093			266,093				266,093
Preferred stock, outstanding	266,093			266,093				266,093
ARCT IV / ARCP Merger [Member] \| Series F OP Units [Member] \| ARCP IV [Member]
Class of Stock [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares												700,000
ARCT IV / ARCP Merger [Member] \| Common Stock [Member]
Class of Stock [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares												36,900,000
ARCT III [Member]
Class of Stock [Line Items]
Business combination, recognized identifiable assets acquired, goodwill, and liabilities assumed, shares paid in cash																		29,200,000
Percentage of Total Outstanding Shares																		16.50%
Business Acquisition, Share Price																		$12
Shares Based on Exchange Ratio																		27,700,000
Business combination, recognized identifiable assets acquired, goodwill, and liabilities assumed, shares exchanged for shares																		148,100,000
Common Stock Outstanding After Share Exchange																		140,700,000
Registration Payment Arrangement Arrangement [Member]
Class of Stock [Line Items]
Common stock, shares authorized	1,882,248			1,882,248				1,882,248
At the Market Offering [Member]
Class of Stock [Line Items]
Maximum Amount of Offering from Universal Shelf Registration Statement	$60,000,000			$60,000,000				$60,000,000
Preferred Stock [Member] \| Op Units [Member] \| ARCP IV [Member]
Class of Stock [Line Items]
Conversion of OP units to series F preferred stock, shares				455,372
Common Stock [Member]
Class of Stock [Line Items]
Shares issued (in shares)				524,305,318	[1]	32,689,878	[1]
Common Stock [Member] \| Shares Issued under the universal shelf registration
Class of Stock [Line Items]
Shares issued (in shares)				2,100,000

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

EquityBased_Compensation_Detai

Equity-Based Compensation (Detail) (USD $)	3 Months Ended				0 Months Ended		36 Months Ended
Equity-Based Compensation (Detail) (USD $)	Mar. 31, 2014		Mar. 31, 2013		Feb. 28, 2013		Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Equity based compensation	$0	[1]	$0	[1]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Equity based compensation	21,574,000	[2]	3,333,000	[2]
Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Share-based compensation arrangement by share-based payment award, shares issued in period	6,774,288
Equity Plan [Member] \| Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Equity based compensation	17,500,000		17,500,000
Equity Plan [Member] \| Restricted Stock [Member] \| Manager [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum authorized amount as a percentage of shares authorized	10.00%
Equity Plan [Member] \| Restricted Stock [Member] \| Manager [Member] \| ARC Properties Advisors, LLC [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of Restricted Common Shares, Granted	167,400
Equity Plan [Member] \| Non-Executive Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Share-based compensation arrangement by share-based payment award, shares issued in period	282,854
Outperformance Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Maximum intended award pool opportunity	120,000,000
Outperformance Plan [Member] \| Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of Restricted Common Shares, Granted					8,241,101
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Equity based compensation	1,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Performance Period	3 years
Outperformance Plan [Member] \| Performance Shares [Member] \| Excess Return, Above Threshold [Member] \| Absolute Component [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold					7.00%
Share-based compensation arrangement by share-based payment award, percentage of market capitalization threshold					4.00%
Outperformance Plan [Member] \| Performance Shares [Member] \| Cumulative Return, Equal to Threshold [Member] \| Relative Component [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold					0.00%	[3]
Share-based compensation arrangement by share-based payment award, shares awarded as a percentage of maximum					50.00%
Outperformance Plan [Member] \| Performance Shares [Member] \| Excess Return, Above Peer Group [Member] \| Relative Component [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, percentage of market capitalization threshold					4.00%
Outperformance Plan [Member] \| Performance Shares [Member] \| Cumulative Return, Above Threshold [Member] \| Relative Component [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, shares awarded as a percentage of maximum					100.00%
Outperformance Plan [Member] \| Performance Shares [Member] \| Cumulative Return, Below Threshold [Member] \| Relative Component [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, shares awarded as a percentage of maximum					0.00%
Outperformance Plan [Member] \| Performance Shares [Member] \| Minimum [Member] \| Excess Return, Above Threshold [Member] \| Absolute Component [Member] \| Interim Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold					14.00%
Outperformance Plan [Member] \| Performance Shares [Member] \| Minimum [Member] \| Cumulative Return, Equal to Threshold [Member] \| Relative Component, Linear Interpolation [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold					0.00%
Outperformance Plan [Member] \| Performance Shares [Member] \| Minimum [Member] \| Cumulative Return, Above Threshold [Member] \| Relative Component [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold					6.00%
Outperformance Plan [Member] \| Performance Shares [Member] \| Minimum [Member] \| Cumulative Return, Above Threshold [Member] \| Relative Component [Member] \| Interim Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold					12.00%	[3]
Outperformance Plan [Member] \| Performance Shares [Member] \| Maximum [Member] \| Excess Return, Above Threshold [Member] \| Absolute Component [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold					21.00%
Outperformance Plan [Member] \| Performance Shares [Member] \| Maximum [Member] \| Cumulative Return, Above Threshold [Member] \| Relative Component [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold					18.00%	[3]
Outperformance Plan [Member] \| Performance Shares [Member] \| Maximum [Member] \| Cumulative Return, Above Threshold [Member] \| Relative Component, Linear Interpolation [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold					6.00%
Director Stock Plan [Member] \| Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of Restricted Common Shares, Granted	3,000
Number of Restricted Common Shares, Unvested Beginning Balance	18,875
Number of Restricted Common Shares, Vested	-21,875
Number of Restricted Common Shares, Forfeited	0
Number of Restricted Common Shares, Unvested Ending Balance	0
Share-based compensation arrangement by share-based payment award, shares issued in period	45,000
Equity based compensation	3,600,000
Restricted share vesting period	5 years
Number of shares authorized, in shares	99,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted-Average Issue Price, Outstanding	$13.52
Weighted-Average Issue Price,Granted	$13.99
Weighted-Average Issue Price,Vested	$13.58
Weighted-Average Issue Price,Forfeited	$0
Weighted-Average Issue Price, Outstanding	$0
New Multi-Year Outperformance Plan [Member] \| Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Equity based compensation	2,500,000
Performance based award percentage, as percentage of the company's market capitalization							5.00%
Dividends payable	7,100,000
New Multi-Year Outperformance Plan [Member] \| Performance Shares [Member] \| Excess Return, Above Threshold [Member] \| Absolute Component [Member] \| Interim Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold	14.00%
New Multi-Year Outperformance Plan [Member] \| Performance Shares [Member] \| Excess Return, Above Threshold [Member] \| Absolute Component [Member] \| Annual Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold	7.00%
New Multi-Year Outperformance Plan [Member] \| Performance Shares [Member] \| 100 Percent Cumulative Threshold [Member] \| Relative Component [Member] \| Interim Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold	12.00%
New Multi-Year Outperformance Plan [Member] \| Performance Shares [Member] \| 100 Percent Cumulative Threshold [Member] \| Relative Component [Member] \| Annual Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold	6.00%
New Multi-Year Outperformance Plan [Member] \| Performance Shares [Member] \| 100 Percent Cumulative Threshold [Member] \| Relative Component [Member] \| Performance Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold	18.00%
New Multi-Year Outperformance Plan [Member] \| Performance Shares [Member] \| 50% Component Threshold [Member] \| Relative Component [Member] \| Interim Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold	0.00%
New Multi-Year Outperformance Plan [Member] \| Performance Shares [Member] \| 50% Component Threshold [Member] \| Relative Component [Member] \| Annual Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold	0.00%
New Multi-Year Outperformance Plan [Member] \| Performance Shares [Member] \| 50% Component Threshold [Member] \| Relative Component [Member] \| Performance Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold	0.00%
New Multi-Year Outperformance Plan [Member] \| Performance Shares [Member] \| 0% Cumulative Threshold [Member] \| Relative Component [Member] \| Interim Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold	0.00%
New Multi-Year Outperformance Plan [Member] \| Performance Shares [Member] \| 0% Cumulative Threshold [Member] \| Relative Component [Member] \| Annual Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold	0.00%
New Multi-Year Outperformance Plan [Member] \| Performance Shares [Member] \| 0% Cumulative Threshold [Member] \| Relative Component [Member] \| Performance Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold	0.00%
New Multi-Year Outperformance Plan [Member] \| Performance Shares [Member] \| Maximum [Member] \| Excess Return, Above Threshold [Member] \| Absolute Component [Member] \| Performance Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based compensation arrangement by share-based payment award, return percentage threshold	21.00%
Restricted Share Plan [Member] \| Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of Restricted Common Shares, Granted	5,580,678
Number of Restricted Common Shares, Unvested Beginning Balance	931,442
Number of Restricted Common Shares, Vested	-323,915
Number of Restricted Common Shares, Forfeited	-11,209
Number of Restricted Common Shares, Unvested Ending Balance	6,176,996
Restricted share vesting period	5 years
Share-based compensation arrangement by share-based payment award, equity instruments other than options, automatic grant	1,333
Share-based compensation arrangement by share-based payment award, periodic vesting percentage	20.00%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted-Average Issue Price, Outstanding	$13.82
Weighted-Average Issue Price,Granted	$13.28
Weighted-Average Issue Price,Vested	$12.85
Weighted-Average Issue Price,Forfeited	$14.03
Weighted-Average Issue Price, Outstanding	$13.38
2013 Advisor Multi-Year Outperformance Agreement (OPP) [Member] \| Non-Controlling Interests [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Equity based compensation	$93,900,000

[1]	As disclosed above, this line item caption has been reclassified into general and administrative in the accompanying consolidated statements of operations.
[2]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[3]	The "Peer Group" is comprised of the following companies: EPR Properties; Getty Realty Corporation; Lexington Realty Trust; National Retail Properties, Inc.; Realty Income Corporation; and Spirit Realty Capital, Inc.

Related_Party_Transactions_and2

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

0 Months Ended

3 Months Ended

2 Months Ended

12 Months Ended

0 Months Ended

12 Months Ended

Feb. 28, 2013

Mar. 31, 2014

Mar. 31, 2013

Feb. 28, 2013

Dec. 31, 2012

Feb. 07, 2014

Jan. 03, 2014

Oct. 04, 2013

Jan. 08, 2014

Dec. 31, 2013

Related Party Transaction [Line Items]

Excess annualized core earnings, percentage

20.00%

ARCP OP Units Issued to Special Limited Partnership

56,797

Investment securities, at fair value

$213,803,000

[1]

$61,604,000

62,067,000

[1]

Carrying Amount of Investment

5,061,000

Due from affiliates

8,719,000

[1]

Sale of ARCT III OP Units [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Proceeds from Related Party

98,400,000

Restricted Stock [Member] | Restricted Share Plan [Member]

Related Party Transaction [Line Items]

Number of Restricted Common Shares, Granted

5,580,678

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Fair Value

12,500,000

ARC Real Estate Partners, LLC [Member] | Operating Partnership Unit [Member]

Related Party Transaction [Line Items]

Common stock held by related party, percent

3.26%

4.37%

Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

223,662,000

274,833,000

Affiliated Entity [Member] | Restricted Stock [Member] | Restricted Share Plan [Member]

Related Party Transaction [Line Items]

Number of Restricted Common Shares, Granted

796,075

Advisor [Member] | American Realty Capital Advisors III LLC [Member] | Class B Units [Member]

Related Party Transaction [Line Items]

Antidilutive securities excluded from computation of earnings per share

748,621

603,599

145,022

Affiliates Of Former Manager [Member] | Restricted Stock [Member] | Restricted Share Plan [Member]

Related Party Transaction [Line Items]

Number of Restricted Common Shares, Granted

87,202

Manager [Member]

Related Party Transaction [Line Items]

Consideration recovered

8,500,000

Cole Credit Property Trust, Inc. [Member]

Related Party Transaction [Line Items]

Carrying Amount of Investment

5,000

Cole Credit Property Trust, Inc. [Member] | Revolving Credit Facility [Member] | Senior Secured Credit Facility [Member]

Related Party Transaction [Line Items]

Due from affiliates

300,000

Line of credit facility, current borrowing capacity

2,900,000

Debt Instrument, Interest Rate, Stated Percentage

5.75%

Managed Real Estate Investment Trusts [Member] | Revolving Credit Facility [Member] | Senior Secured Credit Facility [Member]

Related Party Transaction [Line Items]

Number of Credit Facilities

Cole Office And Industrial REIT (CCIT II), Inc. And Cole Credit Property Trust V, Inc. [Member] | Revolving Credit Facility [Member] | Senior Secured Credit Facility [Member] | LIBOR [Member]

Related Party Transaction [Line Items]

Debt instrument, basis spread on variable rate

2.20%

Cole Office And Industrial REIT (CCIT II), Inc. [Member]

Related Party Transaction [Line Items]

Carrying Amount of Investment

2,139,000

Cole Office And Industrial REIT (CCIT II), Inc. [Member] | Revolving Credit Facility [Member] | Senior Secured Credit Facility [Member]

Related Party Transaction [Line Items]

Due from affiliates

1,900,000

Line of credit facility, current borrowing capacity

10,000,000

Cole Credit Property Trust V, Inc. [Member]

Related Party Transaction [Line Items]

Carrying Amount of Investment

2,517,000

Cole Credit Property Trust V, Inc. [Member] | Revolving Credit Facility [Member] | Senior Secured Credit Facility [Member]

Related Party Transaction [Line Items]

Due from affiliates

1,000,000

Special Limited Partner [Member]

Related Party Transaction [Line Items]

Contributions from affiliate

800,000

Cole Real Estate Income Strategy [Member]

Related Party Transaction [Line Items]

Carrying Amount of Investment

163,000

ARCP Merger [Member] | Entity Wholly Owned By Sponsor [Member] | American Realty Capital III Special Limited Partnership, LLC [Member] | Common Stock [Member]

Related Party Transaction [Line Items]

Partner ownership interest, Issuance of Units

7,300,000

Units minimum holding period

1 year

Related Party Transaction [Line Items]

Partner ownership interest, Issuance of Units

711,190

Related Party Transaction [Line Items]

Partner ownership interest, Issuance of Units

7,600,000

Related Party Transaction [Line Items]

Partner ownership interest, Issuance of Units

7,300,000

ARCT III Merger [Member]

Related Party Transaction [Line Items]

Asset management fee percentage, option 2

0.40%

ARCT III Merger [Member] | ARCP [Member]

Related Party Transaction [Line Items]

Asset management fee percentage, option 1

0.50%

ARCT III Merger [Member] | ARCP [Member] | Maximum [Member]

Related Party Transaction [Line Items]

Unadjusted book value of assets

3,000,000,000

ARCT III Merger [Member] | Former Manager [Member]

Related Party Transaction [Line Items]

Management fee waived

400,000

Cole Merger [Member]

Related Party Transaction [Line Items]

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares

400,000

ARCT IV / ARCP Merger [Member] | Common Stock [Member]

Related Party Transaction [Line Items]

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares

36,900,000

ARCT IV / ARCP Merger [Member] | ARCP [Member] | Common Stock [Member]

Related Party Transaction [Line Items]

Business acquisition, equity interest issued or issuable, per share conversion rate

0.519

ARCT IV / ARCP Merger [Member] | ARCP [Member] | Class B Units [Member]

Related Party Transaction [Line Items]

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares

1,200,000

Business acquisition, equity interest issued or issuable, per share conversion rate

2.3961

Securities Assets [Member]

Related Party Transaction [Line Items]

Investment securities, at fair value

1,648,000

1,484,000

Special Limited Partner [Member] | ARCT IV / ARCP Merger [Member] | ARCP IV [Member]

Related Party Transaction [Line Items]

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares

2,800,000

Conversion of Stock, Shares Converted

6,700,000

Business acquisition, equity interest issued or issuable, per share conversion rate

22.5

Strategic Advisory Services [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

27,265,000

Strategic Advisory Services [Member] | ARCT IV Advisor [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Payments to Related Party

8,400,000

Strategic Advisory Services [Member] | Cole Merger [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

17,115,000

Strategic Advisory Services [Member] | MT-Spin Off [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

1,750,000

Strategic Advisory Services [Member] | MT-Spin Off [Member] | RCS Advisory [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

1,800,000

Strategic Advisory Services [Member] | ARCT IV Merger [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

8,400,000

Subordinated Distributions [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

78,244,000

Subordinated Distributions [Member] | ARCT III Merger [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

98,360,000

Subordinated Distributions [Member] | Cole Merger [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

Subordinated Distributions [Member] | MT-Spin Off [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

Subordinated Distributions [Member] | ARCT IV Merger [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

78,244,000

Management Fees To Affiliates, Asset Management Fees [Member] | Affiliates Of Former Manager [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

13,888,000

11,693,000

Management Fees To Affiliates, Asset Management Fees [Member] | ARCT III Merger [Member] | Affiliates Of Former Manager [Member] | Class B Units [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

9,400,000

Equity Awards, Valuation [Member] | Affiliates Of Former Manager [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

600,000

Equity Awards [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

1,600,000

Equity Awards [Member] | Affiliates Of Former Manager [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

14,074,000

2,608,000

Equity Awards [Member] | Affiliates Of Former Manager [Member] | Restricted Stock [Member]

Related Party Transaction [Line Items]

Number of Restricted Common Shares, Granted

325,000

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Fair Value

4,500,000

Equity Awards [Member] | ARCT III Merger [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

2,000,000

Lease Agreement and Termination [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Payments to Related Party

100,000

Related Party Transaction, Lease Term

15 years

Related Party Transaction, Lease Amount

400,000

Revenue from Related Parties

7,000

Indirect Affiliate Expenses [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

498,000

Indirect Affiliate Expenses [Member] | Affiliated Entity [Member] | Operating Partnership Unit [Member]

Related Party Transaction [Line Items]

Related Party Transactions, Shares Delivered and Retired

916,423

Tenant Improvement And Furniture Costs [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Payments to Related Party

8,500,000

Other Related Parties [Member]

Related Party Transaction [Line Items]

Indirect ownership interests, percentage

100.00%

Number of properties

Acquisition Related Expenses [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

1,539,000

6,963,000

Acquisition Related Expenses [Member] | GE Capital Portfolio [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Payments to Related Party

1,000,000

Acquisition Related Expenses [Member] | Inland Acquisition [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Payments to Related Party

500,000

Strategic and Financial Advisory Services Fee [Member] | Cole Merger [Member] | ARC Advisory [Member] | Affiliates Of Former Manager [Member]

Related Party Transaction [Line Items]

Related Party Transactions, Percentage of Transaction Value

0.25%

Related Party Transaction, Expenses from Transactions with Related Party

14,200,000

Other Non-Routine Costs, Legal Fees And Expenses [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Payments to Related Party

2,900,000

Related Party Transaction, Expenses from Transactions with Related Party

2,900,000

Other Non-Routine Costs, Legal Fees And Expenses [Member] | ARCT III Merger [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

61,000

Other Non-Routine Costs, Legal Fees And Expenses [Member] | Cole Merger [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Payments to Related Party

2,900,000

Related Party Transaction, Expenses from Transactions with Related Party

2,900,000

Other Non-Routine Costs, Legal Fees And Expenses [Member] | MT-Spin Off [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

Other Non-Routine Costs, Legal Fees And Expenses [Member] | ARCT IV Merger [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

Purchase of Furniture, Fixtures and Equipment and Unreimbursed Expenses [Member] | Former Manager [Member]

Related Party Transaction [Line Items]

Related party transaction, purchases from related party

15,800,000

5,800,000

Post Transaction Support Services [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

11,352,000

Post Transaction Support Services [Member] | ARCT III Merger [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Payments to Related Party

2,000,000

Related Party Transaction, Expenses from Transactions with Related Party

2,000,000

Post Transaction Support Services [Member] | Cole Merger [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

Post Transaction Support Services [Member] | MT-Spin Off [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

Post Transaction Support Services [Member] | ARCT IV / ARCP Merger [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Payments to Related Party

10,000,000

Related Party Transactions, Property Management Services Service Period Extension, Days

60 days

Post Transaction Support Services [Member] | ARCT IV Merger [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

1,352,000

Other Non-Routine Costs, Personnel Costs And Other Reimbursements [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

2,105,000

Other Non-Routine Costs, Personnel Costs And Other Reimbursements [Member] | Cole Merger [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

1,688,000

Other Non-Routine Costs, Personnel Costs And Other Reimbursements [Member] | MT-Spin Off [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

Other Non-Routine Costs, Personnel Costs And Other Reimbursements [Member] | ARCT IV Merger [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

417,000

Other Non-Routine Costs, Personnel Costs And Other Reimbursements [Member] | ARCT IV Merger [Member] | ARC Advisory [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Payments to Related Party

1,300,000

Management Fees To Affiliates, Property Management Fees [Member] | Affiliates Of Former Manager [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

800,000

Management Fees To Affiliates, Property Management Fees [Member] | Affiliates Of Former Manager [Member] | ARCT III [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

800,000

Management Fees To Affiliates, Property Management Fees [Member] | ARC Advisory [Member] | Affiliates Of Former Manager [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Payments to Related Party

2,300,000

Related Party Transactions, Property Management Services Service Period Extension, Days

60 days

Asset Management Fees [Member] | ARCT IV [Member]

Related Party Transaction [Line Items]

Related Party Transactions, Asset Management Fee, Percentage of Assets

0.19%

Asset Management Fees [Member] | ARCT IV [Member] | Class B Units [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

13,900,000

Stock Issued During Period, Shares, Issued for Services

498,857

492,483

Business acquisition, equity interest issued or issuable, per share conversion rate

2.3961

Administrative Expenses [Member] | Affiliates Of Former Manager [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

1,518,000

2,601,000

Tenant Improvement, Furniture And Operating Expenses [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

300,000

New York Office [Member] | Affiliated Entity [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

71,000

New York Office [Member] | Affiliates Of Former Manager [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Payments to Related Party

100,000

Selling Commissions Reallowance Expense [Member]

Related Party Transaction [Line Items]

Revenue from Related Parties

29,517,000

Selling Commissions Reallowance Expense [Member] | Cole Office And Industrial REIT (CCIT II), Inc. [Member]

Related Party Transaction [Line Items]

Revenue from Related Parties

371,000

Selling Commissions Reallowance Expense [Member] | Cole Credit Property Trust V, Inc. [Member]

Related Party Transaction [Line Items]

Revenue from Related Parties

Selling Commissions Reallowance Expense [Member] | Cole Credit Property Trust IV Inc., Cole Corporate Income Trust Inc. and Cole Office And Industrial REIT (CCIT II), Inc. [Member]

Related Party Transaction [Line Items]

Commissions Percentage On Stock Sales And Related Dealer Manager Fees

100.00%

Selling Commissions Reallowance Expense [Member] | Cole Real Estate Income Strategy [Member]

Related Party Transaction [Line Items]

Revenue from Related Parties

21,000

Commissions Percentage On Stock Sales And Related Dealer Manager Fees

100.00%

Dealer Manager Fee [Member]

Related Party Transaction [Line Items]

Revenue from Related Parties

8,952,000

Dealer Manager Fee [Member] | Cole Office And Industrial REIT (CCIT II), Inc. [Member]

Related Party Transaction [Line Items]

Revenue from Related Parties

114,000

Dealer Manager Fee [Member] | Cole Credit Property Trust V, Inc. [Member]

Related Party Transaction [Line Items]

Revenue from Related Parties

Dealer Manager Fee [Member] | Cole Credit Property Trust IV Inc., Cole Corporate Income Trust Inc. and Cole Office And Industrial REIT (CCIT II), Inc. [Member]

Related Party Transaction [Line Items]

Commissions Percentage On Stock Sales And Related Dealer Manager Fees

2.00%

Dealer Manager Fee [Member] | Cole Real Estate Income Strategy [Member]

Related Party Transaction [Line Items]

Revenue from Related Parties

65,000

Dealer Manager Fee [Member] | Cole Real Estate Income Strategy [Member] | Common Class W [Member]

Related Party Transaction [Line Items]

Daily Asset Based Related Party Fee Percent

0.55%

Dealer Manager Fee [Member] | Cole Real Estate Income Strategy [Member] | Common Class A [Member]

Related Party Transaction [Line Items]

Daily Asset Based Related Party Fee Percent

0.55%

Dealer Manager Fee [Member] | Cole Real Estate Income Strategy [Member] | Common Class I [Member]

Related Party Transaction [Line Items]

Daily Asset Based Related Party Fee Percent

0.25%

Selling Commission Revenue [Member]

Related Party Transaction [Line Items]

Revenue from Related Parties

29,517,000

Selling Commission Revenue [Member] | Cole Office And Industrial REIT (CCIT II), Inc. [Member]

Related Party Transaction [Line Items]

Revenue from Related Parties

371,000

Selling Commission Revenue [Member] | Cole Credit Property Trust V, Inc. [Member]

Related Party Transaction [Line Items]

Revenue from Related Parties

Selling Commission Revenue [Member] | Cole Real Estate Income Strategy [Member]

Related Party Transaction [Line Items]

Revenue from Related Parties

21,000

Commissions Percentage On Stock Sales And Related Dealer Manager Fees

3.75%

Distribution Fee [Member] | Cole Real Estate Income Strategy [Member] | Common Class A [Member]

Related Party Transaction [Line Items]

Daily Asset Based Related Party Fee Percent

0.50%

Organization and Offering Fee [Member]

Related Party Transaction [Line Items]

Program Development Costs

3,600,000

Pre-tax Non-compounded Return on Capital Contribution [Member] | Annual Targeted Investor Return [Member] | Advisor [Member] | American Realty Capital Advisors III LLC [Member] | Sale of ARCT III OP Units [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Cumulative Capital Investment Return, as a Percentage of Benchmark

6.00%

Pre-tax Non-compounded Return on Capital Contribution [Member] | ARCT IV / ARCP Merger [Member] | Annual Targeted Investor Return [Member] | American Realty Capital Advisors III LLC [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Cumulative Capital Investment Return, as a Percentage of Benchmark

6.00%

Pre-tax Non-compounded Return on Capital Contribution [Member] | ARCT IV / ARCP Merger [Member] | Annual Targeted Investor Return [Member] | Advisor [Member] | American Realty Capital Advisors III LLC [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Cumulative Capital Investment Return, as a Percentage of Benchmark

6.00%

Related party transaction, cumulative capital investment return

358,300,000

Contract Purchase Price [Member] | Manager [Member] | ARC Properties Advisors, LLC [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Payments to Related Party

7,000,000

Related Party Transaction, Acquisition Fees Earned by Related Party, Percentage of Benchmark

1.00%

Contract Purchase Price [Member] | Acquisition Related Expenses [Member] | GE Capital Portfolio [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Acquisition Fees Earned by Related Party, Percentage of Benchmark

0.25%

Contract Purchase Price [Member] | Acquisition Related Expenses [Member] | Inland Acquisition [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Acquisition Fees Earned by Related Party, Percentage of Benchmark

0.25%

Amount Available Or Outstanding Under Financing Arrangement [Member] | Manager [Member] | ARC Properties Advisors, LLC [Member]

Related Party Transaction [Line Items]

Related party transaction, financing coordination fees earned by related party, percentage of benchmark

0.75%

Related Party Transaction, Payments to Related Party

$7,500,000

Gross Proceeds, Initial Public Offering [Member] | Selling Commissions [Member] | Dealer Manager [Member] | Realty Capital Securities, LLC [Member]

Related Party Transaction [Line Items]

Related party transaction, sales commissions earned by related party, percentage of benchmark

7.00%

Gross Proceeds, Common Stock [Member] | Dealer Manager [Member] | Realty Capital Securities, LLC [Member]

Related Party Transaction [Line Items]

Related party transaction, sales commissions earned by related party, percentage of benchmark

3.00%

Gross Revenue, Stand-alone Single-tenant Net Leased Properties [Member] | Advisor [Member] | American Realty Capital Advisors III LLC [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Property Management Fees Earned by Related Party, Percentage of Benchmark

2.00%

Gross Revenue, Excluding Stand-alone Single-tenant Net Leased Properties [Member] | Advisor [Member] | American Realty Capital Advisors III LLC [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Property Management Fees Earned by Related Party, Percentage of Benchmark

4.00%

Gross Revenue, Managed Properties [Member] | Advisor [Member] | American Realty Capital Advisors III LLC [Member] | Maximum [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Property Management Fees Earned by Related Party, Percentage of Benchmark

1.00%

[1]

For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

Related_Party_Transactions_and3

Related Party Transactions and Arrangements (Related Party Fees and Expenses) (Detail) (Affiliated Entity [Member], USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$223,662,000	$274,833,000
Financing Fees And Reimbursements [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0	7,500,000
Offering Related Costs [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	150,000	135,988,000
Acquisition Related Expenses [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	1,539,000	6,963,000
Merger And Other Non-Routine Transactions [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	137,738,000	106,680,000
Management Fees To Affiliates [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	13,888,000	12,493,000
General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	15,592,000	5,209,000
Indirect Affiliate Expenses [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	498,000	0
Offering Related Revenues [Member] \| Cole Capital [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	42,453,000	0
Operating Revenues [Member] \| Cole Capital [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	$11,804,000	$0

Related_Party_Transactions_and4

Related Party Transactions and Arrangements (Offering Related Costs) (Detail) (Affiliates Of Former Manager [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Offering Related Costs [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$150	$135,988
Commissions And Fees [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	150	125,932
Offering Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$0	$10,056

Related_Party_Transactions_and5

Related Party Transactions and Arrangements (Merger and Other Non-Routine Transactions) (Detail) (Affiliated Entity [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$223,662	$274,833
Merger Related Costs, Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	72
Subordinated Distributions [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	78,244
Furniture, Fixtures And Equipment [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	15,800
Post Transaction Support Services [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	11,352
Other Non-Routine Costs, Legal Fees And Expenses [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	2,900
Merger And Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	137,738
Strategic Advisory Services [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	27,265
Other Non-Routine Costs, Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	2,105
ARCT III Merger [Member] \| Merger Related Costs, Legal Fees And Expenses [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party		125
ARCT III Merger [Member] \| Merger Related Costs, Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party		334
ARCT III Merger [Member] \| Subordinated Distributions [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party		98,360
ARCT III Merger [Member] \| Furniture, Fixtures And Equipment [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party		5,800
ARCT III Merger [Member] \| Post Transaction Support Services [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party		2,000
ARCT III Merger [Member] \| Other Non-Routine Costs, Legal Fees And Expenses [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party		61
ARCT III Merger [Member] \| Merger And Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party		106,680
ARCT IV Merger [Member] \| Merger Related Costs, Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0
ARCT IV Merger [Member] \| Subordinated Distributions [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	78,244
ARCT IV Merger [Member] \| Furniture, Fixtures And Equipment [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	5,800
ARCT IV Merger [Member] \| Post Transaction Support Services [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	1,352
ARCT IV Merger [Member] \| Other Non-Routine Costs, Legal Fees And Expenses [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0
ARCT IV Merger [Member] \| Merger And Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	94,213
ARCT IV Merger [Member] \| Strategic Advisory Services [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	8,400
ARCT IV Merger [Member] \| Other Non-Routine Costs, Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	417
Internalization And Other [Member] \| Merger Related Costs, Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0
Internalization And Other [Member] \| Subordinated Distributions [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0
Internalization And Other [Member] \| Furniture, Fixtures And Equipment [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	10,000
Internalization And Other [Member] \| Post Transaction Support Services [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	10,000
Internalization And Other [Member] \| Other Non-Routine Costs, Legal Fees And Expenses [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0
Internalization And Other [Member] \| Merger And Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	20,000
Internalization And Other [Member] \| Strategic Advisory Services [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0
Internalization And Other [Member] \| Other Non-Routine Costs, Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0
Cole Merger [Member] \| Merger Related Costs, Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	72
Cole Merger [Member] \| Subordinated Distributions [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0
Cole Merger [Member] \| Furniture, Fixtures And Equipment [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0
Cole Merger [Member] \| Post Transaction Support Services [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0
Cole Merger [Member] \| Other Non-Routine Costs, Legal Fees And Expenses [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	2,900
Cole Merger [Member] \| Merger And Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	21,775
Cole Merger [Member] \| Strategic Advisory Services [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	17,115
Cole Merger [Member] \| Other Non-Routine Costs, Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	1,688
MT-Spin Off [Member] \| Merger Related Costs, Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0
MT-Spin Off [Member] \| Subordinated Distributions [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0
MT-Spin Off [Member] \| Furniture, Fixtures And Equipment [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0
MT-Spin Off [Member] \| Post Transaction Support Services [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0
MT-Spin Off [Member] \| Other Non-Routine Costs, Legal Fees And Expenses [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	0
MT-Spin Off [Member] \| Merger And Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	1,750
MT-Spin Off [Member] \| Strategic Advisory Services [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	1,750
MT-Spin Off [Member] \| Other Non-Routine Costs, Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$0

Related_Party_Transactions_and6

Related Party Transactions and Arrangements (Management Fees to Affiliates) (Detail) (Affiliates Of Former Manager [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Management Fees To Affiliates [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$13,888	$12,493
Management Fees To Affiliates, Asset Management Fees [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	13,888	11,693
Management Fees To Affiliates, Property Management Fees [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$0	$800

Related_Party_Transactions_and7

Related Party Transactions and Arrangements (General and Administrative Expenses) (Detail) (Affiliates Of Former Manager [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$15,592	$5,209
Administrative Expenses [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	1,518	2,601
Equity Awards [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$14,074	$2,608

Related_Party_Transactions_and8

Related Party Transactions and Arrangements (Indirect Affiliate Expenses) (Detail) (Affiliated Entity [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$223,662	$274,833
Indirect Affiliate Expenses [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	498	0
Audrain Building [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	405
New York Office [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	71
Dresher, PA Office [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	19
North Carolina Office [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$3

Related_Party_Transactions_and9

Related Party Transactions and Arrangements (Due To Affiliates) (Detail) (USD $)	Mar. 31, 2014		Dec. 31, 2013		Mar. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014		Dec. 31, 2013		Mar. 31, 2013
Related Party Transaction [Line Items]
Due to affiliates	$2,614	[1]	$103,434	[1]	$1,569
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Due to affiliates	2,614		103,434
Affiliated Entity [Member] \| Offering Related Costs [Member]
Related Party Transaction [Line Items]
Due to affiliates	150		220
Affiliated Entity [Member] \| Merger And Other Non-Routine Transactions [Member]
Related Party Transaction [Line Items]
Due to affiliates	1,847		38,645
Affiliated Entity [Member] \| General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Due to affiliates	443		59,600
Affiliated Entity [Member] \| Indirect Affiliate Expenses [Member]
Related Party Transaction [Line Items]
Due to affiliates	12		0
Affiliated Entity [Member] \| Other Related Parties [Member]
Related Party Transaction [Line Items]
Due to affiliates	162		0
Affiliated Entity [Member] \| Management Fees To Affiliates [Member]
Related Party Transaction [Line Items]
Due to affiliates	$0		$4,969

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

Recovered_Sheet1

Related Party Transactions and Arrangements (Cole Capital Offerings) (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014
Selling Commission Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	$29,517,000
Selling Commissions Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	29,517,000
Dealer Manager Fee [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	8,952,000
Dealer Manager Fee Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	4,919,000
Other Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	3,984,000
Cole Credit Property Trust IV, Inc. [Member] \| Selling Commission Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	29,125,000
Cole Credit Property Trust IV, Inc. [Member] \| Selling Commissions Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	29,125,000
Cole Credit Property Trust IV, Inc. [Member] \| Dealer Manager Fee [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	8,773,000
Cole Credit Property Trust IV, Inc. [Member] \| Dealer Manager Fee Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	4,864,000
Cole Credit Property Trust IV, Inc. [Member] \| Other Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	3,767,000
Cole Credit Property Trust V, Inc. [Member] \| Selling Commission Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Credit Property Trust V, Inc. [Member] \| Selling Commissions Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Credit Property Trust V, Inc. [Member] \| Dealer Manager Fee [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Credit Property Trust V, Inc. [Member] \| Dealer Manager Fee Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Credit Property Trust V, Inc. [Member] \| Other Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	50,000
Cole Corporate Income Trust, Inc. [Member] \| Selling Commission Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Corporate Income Trust, Inc. [Member] \| Selling Commissions Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Corporate Income Trust, Inc. [Member] \| Dealer Manager Fee [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Corporate Income Trust, Inc. [Member] \| Dealer Manager Fee Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Corporate Income Trust, Inc. [Member] \| Other Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Office And Industrial REIT (CCIT II), Inc. [Member] \| Selling Commission Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	371,000
Cole Office And Industrial REIT (CCIT II), Inc. [Member] \| Selling Commissions Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	371,000
Cole Office And Industrial REIT (CCIT II), Inc. [Member] \| Dealer Manager Fee [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	114,000
Cole Office And Industrial REIT (CCIT II), Inc. [Member] \| Dealer Manager Fee Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	53,000
Cole Office And Industrial REIT (CCIT II), Inc. [Member] \| Other Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	114,000
Cole Real Estate Income Strategy [Member] \| Selling Commission Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	21,000
Cole Real Estate Income Strategy [Member] \| Selling Commissions Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	21,000
Cole Real Estate Income Strategy [Member] \| Dealer Manager Fee [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	65,000
Cole Real Estate Income Strategy [Member] \| Dealer Manager Fee Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	2,000
Cole Real Estate Income Strategy [Member] \| Other Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	$53,000

Recovered_Sheet2

Related Party Transactions and Arrangements (Cole Capital Operations) (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014
Acquisition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	$4,559,000
Asset Management Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	151,000
Property Management And Leasing Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	290,000
Operating Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	1,511,000
Advisory And Performance Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	5,293,000
Cole Credit Property Trust IV, Inc. [Member] \| Acquisition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	3,998,000
Cole Credit Property Trust IV, Inc. [Member] \| Asset Management Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Credit Property Trust IV, Inc. [Member] \| Property Management And Leasing Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Credit Property Trust IV, Inc. [Member] \| Operating Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	1,065,000
Cole Credit Property Trust IV, Inc. [Member] \| Advisory And Performance Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	2,564,000
Cole Credit Property Trust V, Inc. [Member] \| Acquisition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	66,000
Cole Credit Property Trust V, Inc. [Member] \| Asset Management Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Credit Property Trust V, Inc. [Member] \| Property Management And Leasing Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Credit Property Trust V, Inc. [Member] \| Operating Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	17,000
Cole Credit Property Trust V, Inc. [Member] \| Advisory And Performance Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Corporate Income Trust, Inc. [Member] \| Acquisition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	495,000
Cole Corporate Income Trust, Inc. [Member] \| Asset Management Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Corporate Income Trust, Inc. [Member] \| Property Management And Leasing Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Corporate Income Trust, Inc. [Member] \| Operating Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	429,000
Cole Corporate Income Trust, Inc. [Member] \| Advisory And Performance Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	2,595,000
Cole Office And Industrial REIT (CCIT II), Inc. [Member] \| Acquisition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Office And Industrial REIT (CCIT II), Inc. [Member] \| Asset Management Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Office And Industrial REIT (CCIT II), Inc. [Member] \| Property Management And Leasing Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Office And Industrial REIT (CCIT II), Inc. [Member] \| Operating Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Office And Industrial REIT (CCIT II), Inc. [Member] \| Advisory And Performance Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	26,000
Cole Real Estate Income Strategy [Member] \| Acquisition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Real Estate Income Strategy [Member] \| Asset Management Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Real Estate Income Strategy [Member] \| Property Management And Leasing Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Real Estate Income Strategy [Member] \| Operating Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Cole Real Estate Income Strategy [Member] \| Advisory And Performance Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	108,000
Other Related Parties [Member] \| Acquisition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Other Related Parties [Member] \| Asset Management Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	151,000
Other Related Parties [Member] \| Property Management And Leasing Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	290,000
Other Related Parties [Member] \| Operating Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	0
Other Related Parties [Member] \| Advisory And Performance Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties	$0

Recovered_Sheet3

Related Party Transactions and Arrangements (Investment in Managed REITs) (Detail) (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2014
Related Party Transaction [Line Items]
Carrying Amount of Investment	$5,061
Cole Credit Property Trust, Inc. [Member]
Related Party Transaction [Line Items]
Equity Method Investment, Ownership Percentage	0.01%
Carrying Amount of Investment	5
Cole Credit Property Trust IV, Inc. [Member]
Related Party Transaction [Line Items]
Equity Method Investment, Ownership Percentage	0.01%
Carrying Amount of Investment	140
Cole Credit Property Trust V, Inc. [Member]
Related Party Transaction [Line Items]
Equity Method Investment, Ownership Percentage	100.00%
Carrying Amount of Investment	2,517
Cole Corporate Income Trust, Inc. [Member]
Related Party Transaction [Line Items]
Equity Method Investment, Ownership Percentage	0.01%
Carrying Amount of Investment	97
Cole Office And Industrial REIT (CCIT II), Inc. [Member]
Related Party Transaction [Line Items]
Equity Method Investment, Ownership Percentage	33.14%
Carrying Amount of Investment	2,139
Cole Real Estate Income Strategy [Member]
Related Party Transaction [Line Items]
Equity Method Investment, Ownership Percentage	0.28%
Carrying Amount of Investment	$163

Net_Loss_Per_Share_Schedule_of

Net Loss Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Detail) (USD $)	3 Months Ended				12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013		Dec. 31, 2013
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Net loss attributable to the Company	($291,444)		($143,880)
Less: dividends declared on preferred shares and participating securities	23,432		193
Net loss attributable to common stockholders	($314,876)		($144,073)
Weighted average shares of common stock outstanding	547,470,457		167,847,516
Basic and diluted net loss per share attributable to common stockholders	($0.58)	[1]	($0.86)	[1]
Restricted Unvested Common Stock [Member]
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share	6,176,996
Op Units [Member]
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share	24,836,863				9,591,174
Series D preferred stock [Member]
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share	21,735,008	[1]			21,735,008	[1]

[1]	For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.

Property_Dispositions_Detail

Property Dispositions (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
	Property	Property
Long Lived Assets Held-for-sale [Line Items]
Number of real estate properties, held for sale	0	1
2014 Property Dispositions [Member]
Long Lived Assets Held-for-sale [Line Items]
Number of single tenant properties sold	16
Number of multi tenant properties sold	1
Discontinued operations, gross sales price	$60.30

Income_Taxes_Detail

Income Taxes (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Income Tax Disclosure [Abstract]
Provision for income taxes	$6.20	$0
State and local income tax expense (benefit), continuing operations	$1.10	$0.20