VEREIT (VER) 10-Q 7 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	5-May-15
Entity Information [Line Items]
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
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE
Entity Common Stock, Shares Outstanding		905,138,182
ARC Properties Operating Partnership, L.P. [Member]
Entity Information [Line Items]
Entity Registrant Name	ARC Properties Operating Partnership, L.P.
Entity Central Index Key	1528059
Current Fiscal Year End Date	-19
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
Real estate investments, at cost:
Land	$3,434,414,000	$3,472,298,000
Buildings, fixtures and improvements	12,081,061,000	12,307,758,000
Land and construction in progress	83,284,000	77,450,000
Intangible lease assets	2,386,904,000	2,435,054,000
Total real estate investments, at cost	17,985,663,000	18,292,560,000
Less: accumulated depreciation and amortization	1,238,320,000	1,034,122,000
Total real estate investments, net	16,747,343,000	17,258,438,000
Investment in unconsolidated entities	95,390,000	98,053,000
Investment in direct financing leases, net	54,822,000	56,076,000
Investment securities, at fair value	56,493,000	58,646,000
Loans held for investment, net	41,357,000	42,106,000
Cash and cash equivalents	788,739,000	416,711,000
Restricted cash	64,578,000	62,651,000
Intangible assets, net	142,851,000	150,359,000
Deferred costs and other assets, net	400,884,000	389,922,000
Goodwill	1,871,114,000	1,894,794,000
Due from affiliates	58,457,000	86,122,000
Assets held for sale	0	1,261,000
Total assets	20,322,028,000	20,515,139,000
LIABILITIES AND STOCKHOLDERS’ EQUITY
Mortgage notes payable and other debt, net	3,672,496,000	3,805,761,000
Corporate bonds, net	2,546,701,000	2,546,499,000
Convertible debt, net	978,769,000	977,521,000
Credit facility	3,184,000,000	3,184,000,000
Below-market lease liabilities, net	304,754,000	317,838,000
Accounts payable and accrued expenses	160,129,000	163,025,000
Deferred rent, derivative and other liabilities	139,241,000	127,611,000
Distributions payable	9,959,000	9,995,000
Due to affiliates	547,000	559,000
Total liabilities	10,996,596,000	11,132,809,000
STOCKHOLDERS’ EQUITY
Preferred stock	428,000	428,000
Common stock	9,051,000	9,055,000
Additional paid-in capital	11,919,358,000	11,920,253,000
Accumulated other comprehensive (loss) income	-4,136,000	2,728,000
Accumulated deficit	-2,826,524,000	-2,778,576,000
Total stockholders’ equity	9,098,177,000	9,153,888,000
Non-controlling interests	227,255,000	228,442,000
Total equity	9,325,432,000	9,382,330,000
Total liabilities and equity	20,322,028,000	20,515,139,000
ARC Properties Operating Partnership, L.P. [Member]
Real estate investments, at cost:
Land	3,434,414,000	3,472,298,000
Buildings, fixtures and improvements	12,081,061,000	12,307,758,000
Land and construction in progress	83,284,000	77,450,000
Intangible lease assets	2,386,904,000	2,435,054,000
Total real estate investments, at cost	17,985,663,000	18,292,560,000
Less: accumulated depreciation and amortization	1,238,320,000	1,034,122,000
Total real estate investments, net	16,747,343,000	17,258,438,000
Investment in unconsolidated entities	95,390,000	98,053,000
Investment in direct financing leases, net	54,822,000	56,076,000
Investment securities, at fair value	56,493,000	58,646,000
Loans held for investment, net	41,357,000	42,106,000
Cash and cash equivalents	788,739,000	416,711,000
Restricted cash	64,578,000	62,651,000
Intangible assets, net	142,851,000	150,359,000
Deferred costs and other assets, net	400,884,000	389,922,000
Goodwill	1,871,114,000	1,894,794,000
Due from affiliates	58,457,000	86,122,000
Assets held for sale	0	1,261,000
Total assets	20,322,028,000	20,515,139,000
LIABILITIES AND STOCKHOLDERS’ EQUITY
Mortgage notes payable and other debt, net	3,672,496,000	3,805,761,000
Corporate bonds, net	2,546,701,000	2,546,499,000
Convertible debt, net	978,769,000	977,521,000
Credit facility	3,184,000,000	3,184,000,000
Below-market lease liabilities, net	304,754,000	317,838,000
Accounts payable and accrued expenses	160,129,000	163,025,000
Deferred rent, derivative and other liabilities	139,241,000	127,611,000
Distributions payable	9,959,000	9,995,000
Due to affiliates	547,000	559,000
Total liabilities	10,996,596,000	11,132,809,000
Commitments and contingencies (Note 13)
STOCKHOLDERS’ EQUITY
Total partners’ equity	9,302,017,000	9,358,631,000
Non-controlling interests	23,415,000	23,699,000
Total equity	9,325,432,000	9,382,330,000
Total liabilities and equity	20,322,028,000	20,515,139,000
ARC Properties Operating Partnership, L.P. [Member] | Common Stock [Member]
STOCKHOLDERS’ EQUITY
General partners' capital account	8,119,636,000	8,157,167,000
Limited partners' capital account	199,992,000	201,102,000
ARC Properties Operating Partnership, L.P. [Member] | Preferred Units [Member]
STOCKHOLDERS’ EQUITY
General partners' capital account	979,014,000	996,987,000
Limited partners' capital account	$3,375,000	$3,375,000

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Convertible preferred stock, par value (in dollars per share)	$0.01	$0.01
Convertible preferred stock, shares authorized	100,000,000	100,000,000
Convertible preferred stock, shares issued	42,834,138	42,834,138
Convertible preferred stock, shares outstanding	42,834,138	42,834,138
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	1,500,000,000	1,500,000,000
Common stock, shares issued	905,134,719	905,530,431
Common stock, shares outstanding	905,134,719	905,530,431
ARC Properties Operating Partnership, L.P. [Member] | Common Stock [Member]
General partners', units issued	905,134,719	905,530,431
General partners', units outstanding	905,134,719	905,530,431
Limited partners', units issued	23,763,797	23,763,797
Limited partners', units outstanding	23,763,797	23,763,797
ARC Properties Operating Partnership, L.P. [Member] | Preferred Units [Member]
General partners', units issued	42,834,138	42,834,138
General partners', units outstanding	42,834,138	42,834,138
Limited partners', units issued	86,874	86,874
Limited partners', units outstanding	86,874	86,874

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues:
Rental income	$342,759	$244,415
Direct financing lease income	741	1,006
Operating expense reimbursements	22,974	21,476
Cole Capital revenue	27,494	54,257
Total revenues	393,968	321,154
Operating expenses:
Cole Capital reallowed fees and commissions	2,031	34,436
Acquisition related (including $0 and $1,539 to affiliates, respectively)	2,182	13,417
Merger and other non-routine transactions (including $0 and $137,738 to affiliates, respectively)	16,423	160,298
Property operating	30,999	29,755
Management fees to affiliates	0	13,888
General and administrative (including $0 and $15,592 to affiliates, respectively)	33,106	55,369
Depreciation and amortization	219,141	173,842
Total operating expenses	303,882	481,005
Operating income (loss)	90,086	-159,851
Other (expense) income:
Interest expense, net	-95,699	-120,951
Extinguishment of debt, net	429	-9,399
Other income, net	8,961	3,975
Loss on derivative instruments, net	-1,028	-7,121
Loss on disposition of real estate, net	-31,368	-17,605
Total other expenses, net	-118,705	-151,101
Loss before income and franchise taxes	-28,619	-310,952
(Provision for) benefit from income and franchise taxes	-2,074	5,112
Net loss	-30,693	-305,840
Net (income) loss attributable to non-controlling interests	723	14,396
Net loss attributable to the Company / OP	-29,970	-291,444
Basic and diluted net loss per share attributable to common stockholders	($0.05)	($0.58)
ARC Properties Operating Partnership, L.P. [Member]
Revenues:
Rental income	342,759	244,415
Direct financing lease income	741	1,006
Operating expense reimbursements	22,974	21,476
Cole Capital revenue	27,494	54,257
Total revenues	393,968	321,154
Operating expenses:
Cole Capital reallowed fees and commissions	2,031	34,436
Acquisition related (including $0 and $1,539 to affiliates, respectively)	2,182	13,417
Merger and other non-routine transactions (including $0 and $137,738 to affiliates, respectively)	16,423	160,298
Property operating	30,999	29,755
Management fees to affiliates	0	13,888
General and administrative (including $0 and $15,592 to affiliates, respectively)	33,106	55,369
Depreciation and amortization	219,141	173,842
Total operating expenses	303,882	481,005
Operating income (loss)	90,086	-159,851
Other (expense) income:
Interest expense, net	-95,699	-120,951
Extinguishment of debt, net	429	-9,399
Other income, net	8,961	3,975
Loss on derivative instruments, net	-1,028	-7,121
Loss on disposition of real estate, net	-31,368	-17,605
Total other expenses, net	-118,705	-151,101
Loss before income and franchise taxes	-28,619	-310,952
(Provision for) benefit from income and franchise taxes	-2,074	5,112
Net loss	-30,693	-305,840
Net (income) loss attributable to non-controlling interests	-180	192
Net loss attributable to the Company / OP	($30,873)	($305,648)
Basic and diluted net loss from continuing operations per unit attributable to common unitholders	($0.05)	($0.57)

Recovered_Sheet1

Consolidated Statements of Operations (Parenthetical) (Affiliated Entity [Member], USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Related party expenses	$27,494,000	$54,257,000
Acquisition-related Costs [Member]
Related party expenses	0	1,539,000
Merger And Other Non-Routine Transactions [Member]
Related party expenses	0	137,738,000
General and Administrative Expense [Member]
Related party expenses	0	15,592,000
ARC Properties Operating Partnership, L.P. [Member] | Acquisition-related Costs [Member]
Related party expenses	0	1,539,000
ARC Properties Operating Partnership, L.P. [Member] | Merger And Other Non-Routine Transactions [Member]
Related party expenses	0	137,738,000
ARC Properties Operating Partnership, L.P. [Member] | General and Administrative Expense [Member]
Related party expenses	$0	$15,592,000

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net loss	($30,693)	($305,840)
Other comprehensive (loss) income:
Designated derivatives, fair value adjustments	-7,660	-2,298
Unrealized gain on investment securities, net	796	3,095
Total other comprehensive (loss) income	-6,864	797
Total comprehensive loss	-37,557	-305,043
Comprehensive (income) loss attributable to non-controlling interests	723	14,396
Total comprehensive loss attributable to the Company / OP	-36,834	-290,647
ARC Properties Operating Partnership, L.P. [Member]
Net loss	-30,693	-305,840
Other comprehensive (loss) income:
Designated derivatives, fair value adjustments	-7,660	-2,298
Unrealized gain on investment securities, net	796	3,095
Total other comprehensive (loss) income	-6,864	797
Total comprehensive loss	-37,557	-305,043
Comprehensive (income) loss attributable to non-controlling interests	-180	192
Total comprehensive loss attributable to the Company / OP	($37,737)	($304,851)

CONSOLIDATED_STATEMENT_OF_CHAN

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (USD $)		Total	Affiliated Entity [Member]	Affiliated Entity [Member]	Series D Preferred Stock [Member]	Preferred Stock [Member]	Common Units [Member]	Preferred OP Units [Member]	Member Units [Member]	Cumulative Preferred Stock [Member]	Total Stockholders' Equity	Total Stockholders' Equity	Total Stockholders' Equity	Total Stockholders' Equity	Total Stockholders' Equity	Total Stockholders' Equity	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 [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member]	Non-Controlling Interests [Member]	Non-Controlling Interests [Member]	Non-Controlling Interests [Member]	Non-Controlling Interests [Member]
				Offering Related Costs [Member]								Series D Preferred Stock [Member]	Preferred Stock [Member]	Common Units [Member]	Preferred OP Units [Member]	Cumulative Preferred Stock [Member]		Preferred OP Units [Member]		Common Units [Member]		Common Units [Member]	Preferred OP Units [Member]			Series D Preferred Stock [Member]	Preferred Stock [Member]	Cumulative Preferred Stock [Member]		Common Units [Member]	Preferred OP Units [Member]	Member Units [Member]
Beginning balance at Dec. 31, 2013		$2,229,228,000									$2,073,430,000						$422,000		$2,392,000		$2,940,907,000			$7,666,000	($877,957,000)				$155,798,000
Beginning balance (shares) at Dec. 31, 2013																	42,199,547		239,234,725
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation, net forfeitures		21,574,000									17,456,000										17,456,000								4,118,000
Distributions to non-controlling interest holders		-15,781,000																											-15,781,000
Distributions					-1,005,000					-22,427,000		-1,005,000				-22,427,000										-1,005,000		-22,427,000
Net loss		-305,840,000									-291,444,000														-291,444,000				-14,396,000
Other comprehensive loss		797,000									797,000													797,000
Issuance of stock (shares)																			524,305,318
Issuance of common stock		7,329,460,000									7,329,460,000								5,243,000		7,324,217,000
Offering costs	[1]	-1,485,000									-1,485,000										-1,485,000
Conversion of Units to Stock (shares)																		455,372		951,708
Conversion of Units to stock							0	0						13,454,000	9,409,000			5,000		10,000		13,444,000	9,404,000							-13,454,000	-9,409,000
Distributions declared on common stock		-165,910,000									-165,910,000														-165,910,000
Issuance of OP Units									152,484,000																							152,484,000
Contributions from non-controlling interest holders		279,000																											279,000
Non-controlling interests retained in Cole Merger		24,766,000																											24,766,000
Related party expenses			54,257,000	150,000
Issuance of share awards, net (shares)																			5,440,187
Issuance of restricted share awards, net		-1,721,000									-1,721,000								54,000		-1,775,000								0
Ending balance at Mar. 31, 2014		9,244,419,000									8,960,014,000						427,000		7,699,000		10,302,168,000			8,463,000	-1,358,743,000				284,405,000
Ending balance (shares) at Mar. 31, 2014																	42,654,919		769,931,938
Beginning balance at Dec. 31, 2014		9,382,330,000									9,153,888,000						428,000		9,055,000		11,920,253,000			2,728,000	-2,778,576,000				228,442,000
Beginning balance (shares) at Dec. 31, 2014																	42,834,138		905,530,431
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchases of common stock to settle tax obligation (shares)		132,826																	132,826
Repurchases of common stock to settle tax obligation		-1,207,000									-1,207,000								-1,000		-1,206,000
Equity-based compensation, net of forfeitures (shares)																			-262,886
Equity-based compensation, net forfeitures		818,000									818,000								-3,000		821,000								0
Tax shortfall from equity-based compensation		-510,000									-510,000										-510,000
Distributions to non-controlling interest holders		-464,000																											-464,000
Distributions					-5,000	-17,973,000						-5,000	-17,973,000													-5,000	-17,973,000
Net loss		-30,693,000									-29,970,000														-29,970,000				-723,000
Other comprehensive loss		-6,864,000									-6,864,000													-6,864,000
Related party expenses			27,494,000	0
Ending balance at Mar. 31, 2015		$9,325,432,000									$9,098,177,000						$428,000		$9,051,000		$11,919,358,000			($4,136,000)	($2,826,524,000)				$227,255,000
Ending balance (shares) at Mar. 31, 2015																	42,834,138		905,134,719
[1]	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 - ARC Properties Operating Partnership, L.P. (USD $)	Total	ARC Properties Operating Partnership, L.P. [Member]	ARC Properties Operating Partnership, L.P. [Member]	ARC Properties Operating Partnership, L.P. [Member]	ARC Properties Operating Partnership, L.P. [Member]	ARC Properties Operating Partnership, L.P. [Member]	ARC Properties Operating Partnership, L.P. [Member]	ARC Properties Operating Partnership, L.P. [Member]	ARC Properties Operating Partnership, L.P. [Member]
In Thousands, except Share data, unless otherwise specified	USD ($)	USD ($)	General Partner [Member]	Preferred Units [Member]	Preferred Units [Member]	Common Stock [Member]	Common Stock [Member]	Parent [Member]	Noncontrolling Interest [Member]
				General Partner [Member]	Limited Partner [Member]	General Partner [Member]	Limited Partner [Member]	USD ($)	USD ($)
				USD ($)	USD ($)	USD ($)	USD ($)
Beginning balance at Dec. 31, 2013		$2,229,228		$1,054,989	$16,466	$1,018,123	$139,083	$2,228,661	$567
Units, outstanding, beginning balance at Dec. 31, 2013				42,199,547	721,465	239,234,725	17,832,274
Increase (Decrease) in Partners' Capital [Roll Forward]
Equity-based compensation		21,574				17,456	4,118	21,574
Distributions to Common OP Units, LTIPs and non-controlling interests	-15,781	-182,696				-166,915	-15,781	-182,696
Distributions to Preferred OP Units		-22,427		-22,427				-22,427
Net loss	-305,840	-305,840				-291,444	-14,588	-306,032	192
Other comprehensive loss	797	797				757	40	797
Issuance of Common OP units, net, units						524,305,318	7,956,297
Issuance of common OP units, net		7,480,459				7,327,975	152,484	7,480,459
Conversion of Units to units, units				455,372	-455,372	951,708	-951,708
Conversion of Units to units				9,409	-9,409	13,454	-13,454
Issuance of share awards, net (shares)						5,440,187
Issuance of restricted share awards, net	-1,721	-1,721				-1,721		-1,721
Contributions from non-controlling interest holders		279							279
Non-controlling interests retained in Cole Merger	279	24,766							24,766
Ending balance at Mar. 31, 2014		9,244,419		1,041,971	7,057	7,917,685	251,902	9,218,615	25,804
Units, outstanding, ending balance at Mar. 31, 2014				42,654,919	266,093	769,931,938	24,836,863
Beginning balance at Dec. 31, 2014		9,382,330		996,987	3,375	8,157,167	201,102	9,358,631	23,699
Units, outstanding, beginning balance at Dec. 31, 2014				42,834,138	86,874	905,530,431	23,763,797
Increase (Decrease) in Partners' Capital [Roll Forward]
Repurchases of common OP units to settle tax obligation (shares)	132,826					132,826
Repurchases of common OP units to settle tax obligation	-1,207	-1,207				-1,207		-1,207
Equity-based compensation, units						262,886
Equity-based compensation		818				818	0	818
Excess tax benefit		-510				-510		-510
Distributions to Common OP Units, LTIPs and non-controlling interests	-464	-469				-5	0	-5	-464
Distributions to Preferred OP Units		-17,973		-17,973	0	0		-17,973
Net loss	-30,693	-30,693				-29,970	-903	-30,873	180
Other comprehensive loss	-6,864	-6,864				-6,657	-207	-6,864
Ending balance at Mar. 31, 2015		$9,325,432		$979,014	$3,375	$8,119,636	$199,992	$9,302,017	$23,415
Units, outstanding, ending balance at Mar. 31, 2015				42,800,000	86,874	905,134,719	23,763,797

CONSOLIDATED_STATEMENT_OF_CASH

CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net loss	($30,693)	($305,840)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Issuance of OP Units / common units	0	92,884
Depreciation and amortization	224,111	214,040
Loss on disposition of real estate, net	31,368	17,605
Equity-based compensation	818	21,574
Equity in income of unconsolidated entities	-28	-251
Distributions from unconsolidated entities	2,866	941
Loss on derivative instruments	1,028	7,121
Unrealized gain on investments	-233	0
Gain on extinguishment and forgiveness of debt	-5,307	-19,628
Changes in assets and liabilities:
Investment in direct financing leases	495	389
Deferred costs and other assets, net	-30,757	7,945
Due from affiliates	27,665	-8,318
Accounts payable and accrued expenses	2,013	-73,395
Deferred rent, derivative and other liabilities	6,798	-36,631
Due to affiliates	-12	-41,264
Net cash provided by (used in) operating activities	230,132	-122,828
Cash flows from investing activities:
Investments in real estate and other assets	-7,627	-634,541
Acquisition of a real estate business, net of cash acquired	0	-683,240
Capital expenditures	-3,649	-3,112
Real estate developments	-15,998	-13,044
Principal repayments received from borrowers	3,668	3,062
Investments in unconsolidated entities	0	-2,500
Proceeds from disposition of properties	245,548	60,785
Investment in intangible assets	0	-258
Deposits for real estate investments	-3,509	-38,213
Uses and refunds of deposits for real estate investments	7,939	137,688
Line of credit advances to affiliates	-10,000	-1,000
Line of credit repayments from affiliates	10,000	3,900
Change in restricted cash	-6,315	-3,934
Net cash provided by (used in) investing activities	220,057	-1,174,407
Cash flows from financing activities:
Proceeds from mortgage notes payable	1,158	669,336
Payments on mortgage notes payable and other debt	-59,308	-744,618
Proceeds from credit facilities	0	2,131,000
Payments on credit facilities	0	-2,994,000
Proceeds from corporate bonds	0	2,545,760
Payments of deferred financing costs	-326	-66,834
Repurchases of common stock for tax obligation	-1,207	0
Payments of offering costs and fees related to stock issuances	0	-2,133
Contributions from non-controlling interest holders	0	279
Distributions to non-controlling interest holders	-464	-9,488
Distributions paid	-18,014	-201,576
Net cash (used in) provided by financing activities	-78,161	1,327,726
Net change in cash and cash equivalents	372,028	30,491
Cash and cash equivalents, beginning of period	416,711	52,725
Cash and cash equivalents, end of period	788,739	83,216
Supplemental Disclosures:
Cash paid for interest	109,025	52,332
Cash paid for income and franchise taxes	51	7,616
Non-cash investing and financing activities:
Accrued capital expenditures and real estate developments	4,126	0
ARC Properties Operating Partnership, L.P. [Member]
Cash flows from operating activities:
Net loss	-30,693	-305,840
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Issuance of OP Units / common units	0	92,884
Depreciation and amortization	224,111	214,040
Loss on disposition of real estate, net	31,368	17,605
Equity-based compensation	818	21,574
Equity in income of unconsolidated entities	-28	-251
Distributions from unconsolidated entities	2,866	941
Loss on derivative instruments	1,028	7,121
Unrealized gain on investments	-233	0
Gain on extinguishment and forgiveness of debt	-5,307	-19,628
Changes in assets and liabilities:
Investment in direct financing leases	495	389
Deferred costs and other assets, net	-30,757	7,945
Due from affiliates	27,665	-8,318
Accounts payable and accrued expenses	2,013	-73,395
Deferred rent, derivative and other liabilities	6,798	-36,631
Due to affiliates	-12	-41,264
Net cash provided by (used in) operating activities	230,132	-122,828
Cash flows from investing activities:
Investments in real estate and other assets	-7,627	-634,541
Acquisition of a real estate business, net of cash acquired	0	-683,240
Capital expenditures	-3,649	-3,112
Real estate developments	-15,998	-13,044
Principal repayments received from borrowers	3,668	3,062
Investments in unconsolidated entities	0	-2,500
Proceeds from disposition of properties	245,548	60,785
Investment in intangible assets	0	-258
Deposits for real estate investments	-3,509	-38,213
Uses and refunds of deposits for real estate investments	7,939	137,688
Line of credit advances to affiliates	-10,000	-1,000
Line of credit repayments from affiliates	10,000	3,900
Change in restricted cash	-6,315	-3,934
Net cash provided by (used in) investing activities	220,057	-1,174,407
Cash flows from financing activities:
Proceeds from mortgage notes payable	1,158	669,336
Payments on mortgage notes payable and other debt	-59,308	-744,618
Proceeds from credit facilities	0	2,131,000
Payments on credit facilities	0	-2,994,000
Proceeds from corporate bonds	0	2,545,760
Payments of deferred financing costs	-326	-66,834
Repurchases of common stock for tax obligation	-1,207	0
Payments of offering costs and fees related to stock issuances	0	-2,133
Contributions from non-controlling interest holders	0	279
Distributions to non-controlling interest holders	-464	-9,488
Distributions paid	-18,014	-201,576
Net cash (used in) provided by financing activities	-78,161	1,327,726
Net change in cash and cash equivalents	372,028	30,491
Cash and cash equivalents, beginning of period	416,711	52,725
Cash and cash equivalents, end of period	788,739	83,216
Supplemental Disclosures:
Cash paid for interest	109,025	52,332
Cash paid for income and franchise taxes	51	7,616
Non-cash investing and financing activities:
Accrued capital expenditures and real estate developments	$4,126	$0

Organization

Organization	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization
	American Realty Capital Properties, Inc. (the “General Partner” 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, ARCP completed its initial public offering (the “IPO”). ARCP’s common stock trades on the NASDAQ Global Select Market (“NASDAQ”) under the symbol “ARCP.”
	The Company (as defined below) operates through two business segments, Real Estate Investment (“REI”) and its private capital management business, Cole Capital (“Cole Capital”), as further discussed in Note 3 – Segment Reporting. Through the REI segment, the Company acquires, owns and operates primarily single-tenant, freestanding, commercial real estate properties, subject to long-term net leases with high credit quality tenants. The Company primarily seeks to acquire net lease assets by self-originating individual or small portfolio acquisitions, by executing sale-leaseback transactions, and in connection with build-to-suit or forward take-out opportunities, to the extent they are appropriate in terms of capitalization rate and scale. Historically, the Company advanced its investment objectives by not only growing its net lease portfolio through granular, self-originated acquisitions, but also through strategic mergers and acquisitions, which included a merger with Cole Real Estate Investments, Inc. (“Cole”) on February 7, 2014 (the “Cole Merger”), as well as a merger with American Realty Capital Trust IV, Inc. (“ARCT IV”) on January 3, 2014 (the “ARCT IV Merger”).
	Cole Capital is contractually responsible for raising capital for and managing the affairs of the Managed REITs (as defined in Note 3 – Segment Reporting) 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 board of directors an approach for providing investors with liquidity. Cole Capital receives compensation and reimbursement for performing these services.
	ARCP is the sole general partner of ARC Properties Operating Partnership, L.P. (together with its subsidiaries, the “Operating Partnership” or the “OP”), a Delaware limited partnership, which was formed on January 13, 2011 to conduct the primary business of acquiring, owning and operating single-tenant, freestanding commercial real estate properties. The Operating Partnership is the entity through which substantially all of ARCP’s operations are conducted. Together, the General Partner, with the Operating Partnership and their consolidated subsidiaries are known as the “Company.”
	The actions of the Operating Partnership and its relationship with ARCP are governed by the Third Amended and Restated Agreement of Limited Partnership, effective as of January 3, 2014, as amended (the “LPA”). The General Partner does not have any significant assets other than its investment in the Operating Partnership. Therefore, the assets and liabilities of the General Partner and the Operating Partnership are substantially the same. Additionally, pursuant to the LPA, all administrative expenses and expenses associated with the formation and continuity of existence and operation of the General Partner incurred by the General Partner on the Operating Partnership’s behalf shall be treated as expenses of the Operating Partnership. Further, when the General Partner issues any equity instrument that has been approved by the General Partner’s board of directors, the LPA requires the Operating Partnership to issue to the General Partner equity instruments with substantially similar terms, to protect the integrity of the Company’s umbrella partnership REIT structure, pursuant to which each holder of interests in the Operating Partnership has a proportionate economic interest in the Operating Partnership reflecting its capital contributions thereto. OP Units (as defined below) issued to the General Partner are referred to as General Partner OP Units. OP Units issued to parties other than the General Partner are referred to as Limited Partner OP Units. The LPA also provides that the Operating Partnership issue debt that mirrors debt issued by the General Partner. The LPA will be amended to provide for the issuance of any additional class of equivalent equity instruments to the extent the General Partner’s board of directors authorizes the issuance of any new class of equity securities.
	Substantially all of the Company’s REI segment is conducted through the OP. ARCP is the sole general partner and holder of 97.4% of the common equity interests in the OP as of March 31, 2015 with the remaining 2.6% of the common equity interests owned by certain unaffiliated investors. 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 ARCP, holders of OP Units have the right to redeem the OP Units for the cash value of a corresponding number of shares of ARCP’s common stock or, at the option of ARCP, a corresponding number of shares of ARCP’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 and a wholly owned subsidiary of the OP. 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 “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 interest of the Company and its stockholders to become self-managed, and the Company transitioned to self-management on January 8, 2014. In connection with becoming self-managed, ARCP terminated the management agreement with the Former Manager and ARCP and the OP entered into employment and incentive compensation arrangements with certain former ARCP executives. See Note 16 – Related Party Transactions and Arrangements for further discussion.
	On March 2, 2015, ARCP issued restated consolidated financial statements as of and for the three months ended March 31, 2014 to correct errors that were identified as a result of an investigation conducted by the audit committee of the Company’s board of directors (the “Audit Committee”) (the “Audit Committee Investigation”), as well as certain other errors that were identified by the Company’s new management. In addition, the restatement reflected 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 were originally issued. The restated and corrected prior period data is reflected in these consolidated financial statements and accompanying notes. See Amendment No. 1 to ARCP’s Quarterly Report on Form 10-Q/A filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 2, 2015 for the quarterly period ended March 31, 2014 for additional information about the Audit Committee Investigation and reconciliations of the amounts as originally reported to the corresponding restated amounts.
	On March 10, 2015, the Company’s board of directors appointed Glenn J. Rufrano to serve as the Company’s new Chief Executive Officer and a director, effective April 1, 2015. In addition, on April 1, 2015, Hugh R. Frater was appointed an independent director and the Non-Executive Chairman of the Board and Julie G. Richardson was appointed an independent director. Mr. Frater joined the Audit Committee and the Nominating and Corporate Governance Committee, and Ms. Richardson joined the board of directors’ Compensation Committee and Nominating and Corporate Governance Committee. Effective April 1, 2015, with the departure of two directors and subsequent appointment of two directors, the board of directors consists of Mr. Rufrano, Mr. Frater, William G. Stanley, Thomas A. Andruskevich, Bruce D. Frank and Ms. Richardson.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies
	Basis of Accounting
	The consolidated financial statements of the Company included herein include the accounts of ARCP and its consolidated subsidiaries, including the Operating Partnership. All intercompany amounts have been eliminated. The financial statements are prepared on the accrual basis of accounting in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). 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, 2015 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, 2014 of the Company, which are included in the the Company’s Annual Report on Form 10-K, as amended, filed March 30, 2015. There have been no significant changes to the Company’s significant accounting policies during the three months ended March 31, 2015, other than the updates described below. Information and footnote disclosures normally included in financial statements have been condensed or omitted pursuant to the rules and regulations of the SEC.
	Principles of Consolidation and Basis of Presentation
	The consolidated financial statements include the accounts of the Company and its subsidiaries and consolidated joint venture arrangements. 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 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. Further, 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 both March 31, 2015 and December 31, 2014, there were approximately 23.8 million Limited Partner Common OP Units outstanding. All intercompany accounts and transactions have been eliminated in consolidation.
	In determining whether the Company has a controlling financial interest in a joint venture and the requirement to consolidate the accounts of that entity, management considers factors such as ownership interest, authority to make decisions and contractual and substantive participating rights of the other partners or members as well as whether the entity is a variable interest entity of which the Company is the primary beneficiary.
	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 it earns from certain of its relationships and investments. If the Company determines that it holds 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 the Company 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 consolidated 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.
	Reclassification
	The other debt balance from prior year has been combined in the consolidated balance sheets and consolidated statements of cash flows into the captions mortgage notes payable and other debt, net and payments on mortgage notes payable and other debt, respectively. Additionally, state property income and franchise taxes previously included in general and administrative expenses and federal and state income taxes previously included in other income, net have been combined into the caption (provision for) benefit from income and franchise taxes in the consolidated statements of operations.
	Assets Held for Sale
	The Company classifies real estate investments as held for sale in accordance with U.S. GAAP. Assets held for sale are recorded at the lower of carrying value or estimated fair value, less estimated cost to dispose of the assets. As of March 31, 2015, no properties were classified as held for sale. As of December 31, 2014, two properties were classified as held for sale, which were sold during the three months ended March 31, 2015.
	If circumstances arise which the Company previously considered unlikely and, as a result, the Company decides not to sell a property previously classified as held for sale, the Company will reclassify the property as held and used. The Company measures and records a property that is reclassified as held and used at the lower of (i) its carrying amount before the property was classified as held for sale, adjusted for any depreciation expense that would have been recognized had the property been continuously classified as held and used or (ii) the estimated fair value at the date of the subsequent decision not to sell. Upon classifying an asset as held for sale, the Company will no longer recognize depreciation expense related to the depreciable assets of the property.
	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 merger with CapLease Inc. (“CapLease”) and certain subsidiaries of each company on November 5, 2013 (the “CapLease Merger”) and the Cole Merger 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 property in determining the gain or loss on the disposal of the property. The amount of goodwill allocated to the property will be based on the relative fair value of the property to the fair value of the reporting unit. The Company generally estimates the relative fair value by utilizing rental income on a straight line basis as an indication of the relative fair value. The REI segment and Cole Capital segment each comprise one reporting unit. Future property acquisitions that constitute a business will be integrated in the REI segment and therefore will also be allocated goodwill upon disposition.
	Impairments
	Real Estate Assets
	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate assets may not be recoverable. Impairment indicators that the Company considers include, but are not limited to, bankruptcy or other credit concerns of a property’s major tenant, such as a history of late payments, rental concessions and other factors, a significant decrease in a property’s revenues due to lease terminations, vacancies, co-tenancy clauses, reduced lease rates or other circumstances. When indicators of potential impairment are present, the Company assesses the recoverability of the assets by determining whether the carrying amount of the assets will be recovered through the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the real estate assets to their respective fair values and recognize an impairment loss. Generally, fair value is determined using a discounted cash flow analysis and recent comparable sales transactions or market rent assumptions. When developing estimates of expected future cash flows, the Company makes certain assumptions regarding future market rental income amounts subsequent to the expiration of current lease agreements, property operating expenses, terminal capitalization and discount rates, the expected number of months it takes to release the property, required tenant improvements and the number of years the property will be held for investment. The use of alternative assumptions in estimating expected future cash flows could result in a different determination of the property’s expected future cash flows and a different conclusion regarding the existence of an impairment, the extent of any loss resulting from such impairment, if any, as well as the fair value of the real estate assets.
	The Company identified certain properties during the three months ended March 31, 2015 and 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 recorded.
	Goodwill
	The Company evaluates 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 tests goodwill for impairment by first comparing the carrying value of net assets to the fair value of each reporting unit. If the fair value is determined to be less than the carrying 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 estimates 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. During the three months ended March 31, 2015, management monitored the actual performance of the business segments relative to the fair value assumptions used during our annual goodwill impairment test. For the periods presented, no triggering events were identified.
	Intangible Assets
	The Company evaluates intangible assets, which primarily consist of dealer manager and advisory contracts with the Managed REITs, for impairment when an event occurs or circumstances change that indicate the carrying value may not be recoverable. The Company tests intangible assets for impairment by first comparing the carrying value of the asset group to the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the intangible assets to their respective fair values and recognize an impairment loss. The Company will estimate the fair value of the intangible assets using a discounted cash flow model specific to the Managed REITs that were included in the initial value of the intangible assets as of February 7, 2014 (the “Cole Acquisition Date”). The evaluation of intangible assets 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. There were no events or changes in circumstances that indicated that intangible assets were impaired during the three months ended March 31, 2015 or 2014.
	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 impairments of unconsolidated entities were identified during the three months ended March 31, 2015 or 2014.
	Cash and Cash Equivalents
	Cash and cash equivalents include cash in bank accounts, as well as investments in highly-liquid money market funds with original maturities of three months or less. The Company deposits cash with high quality financial institutions. These deposits are guaranteed by the Federal Deposit Insurance Company (“FDIC”) up to an insurance limit. At March 31, 2015 and December 31, 2014, the Company had deposits of $788.7 million and $416.7 million, respectively, of which $784.8 million and $412.7 million, respectively, were in excess of the amount insured by the FDIC. Although the Company bears risk on amounts in excess of those insured by the FDIC, it has not experienced and does not anticipate any losses due to the high quality of the institutions where the deposits are held.
	Revenue Recognition
	Upon the acquisition of real estate, certain properties have leases where minimum rent payments change during the term of the lease. The Company records rental revenue for the full term of each lease on a straight-line basis. When the Company acquires a property, the term of each existing lease is considered to commence as of the acquisition date for the purposes of this calculation. Cost recoveries from tenants are included in tenant reimbursement income in the period the related costs are incurred, as applicable.
	The Company’s revenues, which are derived primarily from rental income, include rents that each tenant pays in accordance with the terms of each lease reported on a straight-line basis over the initial term of the lease. Since many of the leases provide for rental increases at specified intervals, straight-line basis accounting requires the Company to record a receivable, and include in revenues, unbilled rent receivables that the Company will only receive if the tenant makes all rent payments required through the expiration of the initial term of the lease. Straight-line rent receivables are included in prepaid expenses and other assets on the consolidated balance sheets. See Note 8 – Deferred Costs and Other Assets, Net. The Company defers the revenue related to lease payments received from tenants in advance of their due dates. As of March 31, 2015 and December 31, 2014, the Company had $67.7 million and $57.8 million, respectively, of deferred rental income, which is included in deferred rent and other liabilities on the consolidated balance sheets.
	The Company continually reviews receivables related to rent and unbilled rent receivables and determines collectability by taking into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. In the event that the collectability of a receivable is in doubt, the Company will record an increase in the allowance for uncollectible accounts or record a direct write-off of the receivable in the consolidated statements of operations and comprehensive loss. As of March 31, 2015 and December 31, 2014, the Company recorded an allowance for uncollectible accounts of $3.2 million and $2.5 million, respectively.
	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 agreements and charters. Such expenses paid by the Company on behalf of the Managed REITs in excess of these limits that are expected to be collected based on future expected offering proceeds 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 offerings and reserves for any balances considered not collectible. As of March 31, 2015 and December 31, 2014, the Company had organization and offering costs of $16.3 million and $12.9 million, respectively, which were net of reserves of $15.8 million and $13.1 million, respectively. Such amounts had been paid on behalf of the Managed REITs in excess of the applicable limits and are expected to be collected in future periods and have been 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. Acquisition related expenses include legal and other transaction related costs incurred in connection with self-originated acquisitions including purchases of portfolios. In addition, indirect costs, such as internal salaries, that are tracked and documented in a manner that clearly indicates 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 (which are not accounted for as acquisitions) are included in the caption “merger and other non-routine transactions.” Other non-routine transaction costs are also presented within the line item merger and other non-routine transactions in the consolidated statements of operations and comprehensive loss.
	Merger and other non-routine transaction related expenses include the following costs (amounts in thousands):
		Three Months Ended March 31,
		2015		2014
	Merger related costs:
	Strategic advisory services	$	—	$	34,936
	Transfer taxes	—		5,109
	Legal fees and expenses	—		2,984
	Personnel costs and other reimbursements	—		751
	Other fees and expenses	—		1,330
	Other non-routine costs:
	Post-transaction support services	—		14,251
	Subordinated distribution fee	—		78,244
	Audit Committee Investigation and related litigation	15,316		—
	Furniture, fixtures and equipment	—		14,085
	Legal fees and expenses	475		1,826
	Personnel costs and other reimbursements	—		2,443
	Other fees and expenses	632		4,339
	Total	$	16,423	$	160,298
	Income Taxes
	ARCP 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, ARCP 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 ARCP maintains its qualification for taxation as a REIT, it may be subject to certain state and local taxes on its income and property, federal income taxes on certain income and excise taxes on its undistributed income.
	The Operating Partnership is classified as a partnership for federal income tax purposes. As a partnership, the Operating Partnership is not a taxable entity for federal income tax purposes. Instead, each partner in the Operating Partnership is required to take into account its allocable share of the Operating Partnership’s income, gains, losses, deductions and credits for each taxable year. However, the Operating Partnership may be subject to certain state and local taxes on its income and property.
	As of March 31, 2015, the Operating Partnership and ARCP had no material uncertain income tax positions. The tax years subsequent to and including the fiscal year ended December 31, 2010 remain open to examination by the major taxing jurisdictions to which the Operating Partnership, ARCP, American Realty Capital Trust III, Inc. (“ARCT III”), CapLease, ARCT IV, Cole and Cole Credit Property Trust, Inc. are subject.
	Under the LPA, the Operating Partnership is to conduct business in such a manner as to permit ARCP at all times to qualify as a REIT.
	The Company conducts substantially all of its Cole Capital business operations through a TRS structure. 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 Canada and, as a result, it files income tax returns in the U.S. federal jurisdiction, Canadian 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.
	Recent Accounting Pronouncements
In May 2014, the U.S. Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update, (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes the revenue recognition requirements in Revenue Recognition (Topic 605) and requires an entity to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and allows for either full retrospective adoption or modified retrospective adoption, with early application not permitted. The Company is currently evaluating the impact of the new standard on its financial statements.
In February 2015, FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”), which eliminates the deferral of FAS 167, modifies the evaluation of whether limited partnerships and similar legal entities are variable or voting interest entities, eliminates the presumption that the general partner should consolidate a limited partnership, modifies the consolidation analysis for reporting entities that are involved with variable interest entities, particularly those that have fee arrangements and related party relationships, and provides a scope exception for reporting entities with interests in legal entities that operate as registered money market funds. These changes will require re-evaluation of the consolidation conclusion for certain entities and will require the Company to revise its analysis regarding the consolidation or deconsolidation of such entities. ASU 2015-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, with early adoption permitted. Companies may elect to apply the amendments in ASU 2015-02 using a modified retrospective approach or by applying the amendments retrospectively. The Company is currently evaluating the impact of the new standard on its financial statements.
In April 2015, FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The update requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability rather than presenting as an asset, a deferred charge. The previous requirement to recognize debt issuance costs as deferred charges conflicts with the guidance in FASB Concepts Statement No. 6, “Elements of Financial Statements,” which states that debt issuance costs are similar to debt discounts and in effect reduce the proceeds of borrowing, thereby increasing the effective interest rate. FASB Concepts Statement No. 6 further states that debt issuance costs cannot be an asset because they provide no future economic benefit. After the update is adopted, debt disclosures will include the face amount of the debt liability and the effective interest rate. ASU 2015-03 is effective for fiscal years beginning after December 15, 2015, and is to be applied retrospectively, with early adoption permitted. The Company is currently evaluating the impact of this new standard on its consolidated financial statements.

Segment_Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting
	The Company operates in two segments, REI and Cole Capital, as further discussed below.
	REI – Through its REI segment, the Company acquires, owns and operates primarily single-tenant, freestanding commercial real estate properties primarily subject to long term net leases with high credit quality tenants. As of March 31, 2015, the Company owned 4,647 properties comprising 102.1 million square feet of single- and multi-tenant retail and commercial space located in 49 states, the District of Columbia, Puerto Rico and Canada, which include properties owned through consolidated joint ventures. The rentable space at these properties was 98.4% leased with a weighted-average remaining lease term of 11.7 years. In addition, as of March 31, 2015, the Company owned 10 commercial mortgage-backed securities (“CMBS”), 13 loans held for investment and, through six unconsolidated joint ventures, had interests in six properties with aggregate equity investments of $91.7 million, comprising 1.6 million rentable square feet of commercial and retail space (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. The Company records its proportionate share of net income from the Unconsolidated Joint Ventures in other income, net on the accompanying consolidated statements of operations. During the three months ended March 31, 2015 and 2014, the Company recognized $0.1 million and $1.0 million, respectively, of net income from the Unconsolidated Joint Ventures.
	Cole Capital – Cole Capital is contractually responsible for raising capital for and managing the day-to-day affairs of Cole Credit Property Trust IV, Inc. (“CCPT IV”), 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 IV, INAV and CCIT II, the “Managed REITs”), 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. Prior to its merger with Select Income REIT (“SIR”) on January 29, 2015, Cole Corporate Income Trust, Inc. (“CCIT”), was managed by Cole Capital. 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. and various blue sky 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 operating 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,
		2015			2014
	REI segment:
	Revenues:
	Rental income	$	342,759		$	244,415
	Direct financing lease income	741			1,006
	Operating expense reimbursements	22,974			21,476
	Total real estate investment revenues	366,474			266,897
	Operating expenses:
	Acquisition related	1,723			13,417
	Merger and other non-routine transactions	16,423			159,794
	Property operating	30,999			29,755
	Management fees to affiliates	—			13,888
	General and administrative	15,370			34,538
	Depreciation and amortization	210,788			159,483
	Total operating expenses	275,303			410,875
	Operating income (loss)	91,171			(143,978		)
	Other (expense) income:
	Interest expense, net	(95,699		)	(120,951		)
	Extinguishment of debt, net	429			(9,399		)
	Other income, net	7,742			3,959
	Loss on derivative instruments, net	(1,028		)	(7,121		)
	Loss on disposition of real estate, net	(31,368		)	(17,605		)
	Total other expenses, net	(119,924		)	(151,117		)
	Loss before income and franchise taxes	(28,753		)	(295,095		)
	Provision for income and franchise taxes	(1,854		)	(1,123		)
	Net loss	$	(30,607	)	$	(296,218	)
		Three Months Ended March 31,
		2015			2014
	Cole Capital segment:
	Revenues:
	Dealer manager and distribution fees, selling commissions and offering reimbursements	$	3,117		$	42,453
	Transaction service fees and reimbursements	10,260			4,867
	Management fees and reimbursements	14,117			6,937
	Total Cole Capital revenues	27,494			54,257
	Operating expenses:
	Cole Capital reallowed fees and commissions	2,031			34,436
	Acquisition related	459			—
	Merger and other non-routine transactions	—			504
	General and administrative expenses	17,736			20,831
	Depreciation and amortization	8,353			14,359
	Total operating expenses	28,579			70,130
	Operating loss	(1,085		)	(15,873		)
	Total other income	1,219			16
	Income (loss) before income and franchise taxes	134			(15,857		)
	(Provision for) benefit from income and franchise taxes	(220		)	6,235
	Net loss	$	(86	)	$	(9,622	)
	Total Company:
	Total revenues	$	393,968		$	321,154
	Total operating expenses	$	303,882		$	481,005
	Total other expense	$	(118,705	)	$	(151,101	)
	Net loss	$	(30,693	)	$	(305,840	)
			Total Assets
			March 31, 2015			December 31, 2014
	REI segment		$	19,598,152		$	19,821,440
	Cole Capital		723,876			693,699
	Total Company		$	20,322,028		$	20,515,139

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill
	In connection with the CapLease Merger and the Cole Merger, the Company recorded goodwill as a result of the merger consideration exceeding the net assets acquired. The goodwill recorded on the Cole Merger was allocated between the Company’s two reporting units, the REI segment and Cole Capital segment.
	The following table summarizes the Company’s goodwill activity during the three months ended March 31, 2015 by segment (in thousands):
			REI Segment			Cole Capital Segment		Consolidated
	Balance as of December 31, 2014		$	1,509,396		$	385,398	$	1,894,794
	Goodwill allocated to dispositions (1)		(23,680		)	—		(23,680		)
	Balance as of March 31, 2015		$	1,485,716		$	385,398	$	1,871,114
	_______________________________________________
	-1	Goodwill allocated to the cost basis of properties sold and is included in loss on disposition of real estate, net, in the consolidated statement of operations.

Real_Estate_Investments

Real Estate Investments	3 Months Ended
	Mar. 31, 2015
Real Estate [Abstract]
Real Estate Investments	Real Estate Investments
	The Company acquired controlling financial interests in 10 commercial properties, including six land parcels, for an aggregate purchase price of $7.6 million during the three months ended March 31, 2015 (the “2015 Acquisitions”). During the three months ended March 31, 2014, the Company acquired the interests in 215 commercial properties, excluding the properties acquired in the Cole Merger and the ARCT IV Merger, for an aggregate purchase price of $936.1 million. The Company is in the process of obtaining and reviewing the final third party appraisals for some of the 2015 Acquisitions and, as such, the fair values of the related assets acquired and liabilities assumed during the three months ended March 31, 2015 are provisionally allocated. The following table presents the preliminary allocation of the fair values of the assets acquired and liabilities assumed during the periods presented (dollar amounts in thousands):
			Three Months Ended March 31,
			2015			2014
	Real estate investments, at cost:
	Land		$	1,594		$	133,903
	Buildings, fixtures and improvements		3,980			552,114
	Land and construction in progress		1,637			142,821
	Total tangible assets		7,211			828,838
	Acquired intangible assets:
	In-place leases		416			120,421
	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		7,627			936,073
	Mortgage notes payable assumed		—			(301,532		)
	Cash paid for acquired real estate investments		$	7,627		$	634,541
	Number of properties acquired		10			215
	The following table presents unaudited pro forma information as if all of the 2015 Acquisitions were completed on January 1, 2014 for each period presented below (in thousands). 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, 2014. Additionally, the unaudited pro forma net loss was adjusted to exclude acquisition related expenses of $1.7 million for the three months ended March 31, 2015. These costs were recognized in the pro forma information for the three months ended March 31, 2014.
			Three Months Ended March 31,
			2015			2014
	Pro forma revenues		$	394,009		$	321,254
	Pro forma net loss		$	(28,939	)	$	(307,540	)
	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 Operating Lease			Future Minimum
			Base Rent Payments			Direct Financing Lease Payments (1)
	April 1, 2015 - December 31, 2015		$	925,015		$	3,520
	2016		1,243,671			4,674
	2017		1,212,172			4,273
	2018		1,175,562			3,183
	2019		1,134,958			2,397
	Thereafter		10,062,184			7,916
	Total		$	15,753,562		$	25,963
	____________________________________
	-1	39 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.
	Investment in Direct Financing Leases, Net
	The components of the Company’s net investment in direct financing leases as of March 31, 2015 and December 31, 2014 are as follows (in thousands):
			March 31, 2015			December 31, 2014
	Future minimum lease payments receivable		$	25,963		$	27,199
	Unguaranteed residual value of property		38,178			39,852
	Unearned income		(9,319		)	(10,975		)
	Net investment in direct financing leases		$	54,822		$	56,076
	Development Activities
	During the three months ended March 31, 2015, the Company acquired six land parcels upon which single-tenant commercial properties will be developed. As of March 31, 2015, the Company has spent $1.0 million on these developing properties and based on budgeted construction costs, estimates the remaining cost to complete the buildings to be $7.0 million in aggregate. The land acquired for an aggregate amount of $1.6 million is included in land and construction in progress in the accompanying consolidated balance sheet. In addition, during the three months ended March 31, 2015, six development projects that commenced in prior periods were completed.
	Tenant Concentration
	As of March 31, 2015, leases with Red Lobster represented 11.8% of consolidated annualized rental income. 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 other tenants exceeding 10% of consolidated annualized rental income as of March 31, 2015.
	Geographic Concentration
	As of March 31, 2015, properties located in Texas represented 12.8% of consolidated annualized rental income, respectively. There were no other geographic concentrations exceeding 10% of consolidated annualized rental income as of March 31, 2015.

Investment_Securities_at_Fair_

Investment Securities, at Fair Value	3 Months Ended
	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Investment Securities, at Fair Value	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, 2015 and December 31, 2014 (in thousands):
		March 31, 2015
		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	CMBS	$	53,510	$	3,190	$	(207	)	$	56,493
		December 31, 2014
		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	CMBS	$	56,459	$	2,207	$	(20	)	$	58,646
	CMBS
	As of March 31, 2015 and December 31, 2014, the Company owned 10 CMBS with an estimated aggregate fair value of $56.5 million and $58.6 million, respectively. The Company generally receives monthly payments of principal and interest on the CMBS. As of March 31, 2015, the Company earned interest on the CMBS at a rate ranging between 5.88% and 8.95%. As of March 31, 2015, the fair value of three CMBS were below their amortized cost. 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.
	The scheduled maturity of the Company’s CMBS as of March 31, 2015 is as follows (in thousands):
		March 31, 2015
		Amortized Cost		Fair Value
	Due within one year	$	—	$	—
	Due after one year through five years	1,544		1,657
	Due after five years through 10 years	46,190		48,867
	Due after 10 years	5,776		5,969
		$	53,510	$	56,493

Loans_Held_for_Investment

Loans Held for Investment	3 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
Loans Held for Investment	Loans Held for Investment
	As of March 31, 2015, the Company owned 13 loans held for investment with a weighted average interest rate of 6.11% and a weighted average years to maturity of 9.6 years. The following table presents the composition of the loans held for investment as of March 31, 2015 (dollars in thousands):
			Loans held for investment	Carrying Amount		Weighted-Average Interest Rate (1)		Weighted-Average Years to Maturity (2)
	Mortgage notes secured by real estate assets		12	$	26,057	5.1	%	13.8
	Unsecured note with RCAP		1	15,300		8	%	2
	Total		13	$	41,357	6.1	%	9.6
	____________________________________
	-1	The interest rates on the loans secured by real estate range from 5.11% to 7.24%, as of March 31, 2015.
	-2	The loans secured by real estate have maturity dates ranging from August 31, 2015 to January 1, 2033.
	The unsecured note requires principal payments of $7.7 million on March 31, 2016 and $3.8 million on September 30, 2016 and the remaining balance is due at maturity, on March 31, 2017. The note may be pre-paid at par any time prior to maturity.
	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. 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, 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-to-value ratio (principal amount outstanding divided by estimated value of the property) and its remaining term until maturity. As of March 31, 2015 and December 31, 2014, the Company had no reserve for loan loss.

Deferred_Costs_and_Other_Asset

Deferred Costs and Other Assets, Net	3 Months Ended
	Mar. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Costs and Other Assets, Net	Deferred Costs and Other Assets, Net
	Deferred costs and other assets, net consisted of the following as of March 31, 2015 and December 31, 2014 (in thousands):
			March 31, 2015		31-Dec-14
	Deferred costs, net		$	118,294	$	126,202
	Accounts receivable, net (1)		65,997		66,021
	Straight-line rent receivable		111,760		89,355
	Prepaid expenses		16,706		15,171
	Leasehold improvements, property and equipment, net (2)		20,565		21,351
	Restricted escrow deposits		29,909		34,339
	Deferred tax asset and tax receivable		17,011		15,924
	Program development costs, net		16,322		12,871
	Derivative assets, at fair value		1,251		5,509
	Other assets		3,069		3,179
			$	400,884	$	389,922
	___________________________________
	-1	Allowance for doubtful accounts was $3.2 million and $2.5 million as of March 31, 2015 and December 31, 2014, respectively.
	-2	Amortization expense for leasehold improvements totaled $0.4 million for the three months ended March 31, 2015. Accumulated amortization was $1.6 million and $1.2 million as of March 31, 2015 and December 31, 2014, respectively. Depreciation expense for property and equipment totaled $0.5 million for the three months ended March 31, 2015. Accumulated depreciation was $2.1 million and $1.6 million as of March 31, 2015 and December 31, 2014, respectively.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	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 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, 2015, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of the Company’s derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy.
	The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014, aggregated by the level in the fair value hierarchy within which those instruments fall (in thousands):
			Level 1				Level 2				Level 3				Balance as of
															31-Mar-15
	Assets:
	CMBS		$	—			$	—			$	56,493			$	56,493
	Interest rate swap assets		—				1,251				—				1,251
	Total assets		$	—			$	1,251			$	56,493			$	57,744
	Liabilities:
	Interest rate swap liabilities		$	—			$	(11,754	)		$	—			$	(11,754	)
			Level 1				Level 2				Level 3				Balance as of December 31, 2014
	Assets:
	CMBS		$	—			$	—			$	58,646			$	58,646
	Interest rate swap assets		—				5,509				—				5,509
	Total assets		$	—			$	5,509			$	58,646			$	64,155
	Liabilities:
	Interest rate swap liabilities		$	—			$	(7,384	)		$	—			$	(7,384	)
	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.
	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, 2015.
	The following are reconciliations of the changes in assets and (liabilities) with Level 3 inputs in the fair value hierarchy for the three months ended March 31, 2015 and 2014 (in thousands):
			CMBS
	Beginning Balance, December 31, 2014		$	58,646
	Total gains and losses:
	Unrealized gain included in other comprehensive income, net		796
	Purchases, issuances, settlements and amortization:
	Principal payments received		(2,949		)
	Ending Balance, March 31, 2015		$	56,493
			CMBS				Series D Preferred Stock Embedded Derivative				Contingent Consideration				Total
											Arrangements
	Balance, 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 loss		—				(9,998		)		(1,297		)		(11,295		)
	Purchases, issuances, settlements and amortization:
	Fair value at purchase/issuance		151,197				—				(3,606		)		147,591
	Amortization included in net loss		(2,573		)		—				—				(2,573		)
	Ending Balance, 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 March 31, 2015				Fair Value at March 31, 2015				Carrying Amount at December 31, 2014				Fair Value at December 31, 2014
	Assets:
	Loans held for investment		3		$	41,357			$	45,931			$	42,106			$	42,645
	Liabilities:
	Mortgage notes payable and other debt, net (1)		3		$	3,672,496			$	3,823,633			$	3,805,761			$	3,931,029
	Corporate bonds, net		3		2,546,701				2,468,500				2,546,499				2,709,845
	Convertible debt, net		3		978,769				980,519				977,521				1,088,069
	Credit facilities		3		3,184,000				3,167,452				3,184,000				3,145,884
	Total liabilities				$	10,381,966			$	10,440,104			$	10,513,781			$	10,874,827
	___________________________________
	-1	The December 31, 2014 amounts include “other debt” to conform with current presentation.
	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 market interest rates.
	Mortgage notes payable and other debt and credit facilities – The fair value is estimated by an independent third party using a discounted cash flow analysis, based on management’s estimates of market interest rates.
	Convertible notes and corporate bonds – The fair value is estimated based on current pricing marks received from an independent third party.

Debt

Debt	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Debt	Debt
	As of March 31, 2015, the Company had $10.4 billion of debt outstanding, including net premiums, with a weighted-average years to maturity of 4.8 years and weighted-average interest rate of 3.48%. The following table summarizes the carrying value of debt as of March 31, 2015 and December 31, 2014, and the debt activity for the three months ended March 31, 2015 (in thousands):
								Three Months Ended March 31, 2015
				Balance as of December 31, 2014				Debt Issuances				Repayments, Extinguishment and Assumptions				Accretion and (Amortization)			Balance as of March 31, 2015
	Mortgage notes payable:
		Outstanding balance		$	3,689,796			$	1,158			$	(131,779	)		$	—		$	3,559,175
		Net premiums (1)		70,139				—				—				2,748			72,887
	Other debt:
		Outstanding balance		45,325				—				(5,327		)		—			39,998
		Premium (1)		501				—				—				(65		)	436
	Mortgages and other debt, net			3,805,761				1,158				(137,106		)		2,683			3,672,496
	Corporate bonds:
		Outstanding balance		2,550,000				—				—				—			2,550,000
		Discount (2)		(3,501		)		—				—				202			(3,299		)
	Corporate bonds, net			2,546,499				—				—				202			2,546,701
	Convertible debt:
		Outstanding balance		1,000,000				—				—				—			1,000,000
		Discount (2)		(22,479		)		—				—				1,248			(21,231		)
	Convertible debt, net			977,521				—				—				1,248			978,769
	Credit facility:
		Outstanding balance		3,184,000				—				—				—			3,184,000
	Total debt			$	10,513,781			$	1,158			$	(137,106	)		$	4,133		$	10,381,966
	____________________________________
	-1	Net premiums on mortgages notes payable and other debt were recorded upon the assumption of the respective debt instruments in relation to the various mergers and acquisitions. Amortization of these net premiums is recorded as a reduction to interest expense over the remaining term of the respective debt instruments using the effective-interest method.
	-2	Discounts on the corporate bonds and convertible debt were recorded based upon the fair value of the respective debt instruments as of the respective issuance dates. Amortization of these discounts is recorded as an increase to interest expense over the remaining term of the respective debt instruments using the effective-interest method.
	Mortgage Notes Payable
	The Company’s mortgage notes payable consist of the following as of March 31, 2015 (dollar amounts in thousands):
			Encumbered Properties			Gross Carrying Value of Collateralized Properties (1)				Outstanding Balance				Weighted-Average			Weighted-Average Years to Maturity
														Interest Rate (2)
	Fixed-rate debt (3)		746			$	6,535,095			$	3,551,224			4.96	%		7
	Variable-rate debt		1			24,664				7,951				3.12	%		1.4
	Total		747			$	6,559,759			$	3,559,175			4.96	%		7
	____________________________________
	-1	Gross carrying value is gross real estate assets, net of gross real estate liabilities.
	-2	Weighted-average interest rate for variable-rate debt represents the interest rate in effect as of March 31, 2015.
	-3	Includes $285.2 million of variable-rate debt fixed by way of interest rate swap arrangements.
	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, 2015, the Company believes it was in compliance with the debt covenants under the mortgage loan agreements, except for a loan in default with a principal balance of $38.1 million that is described below.
	During the three months ended March 31, 2015 and 2014, an aggregate of $72.3 million and $722.3 million, respectively, of mortgage notes payable were repaid prior to maturity or assumed by the buyer in a property disposition. In connection with the extinguishments, the Company paid prepayment penalties and fees totaling $5,000 and $29.0 million for the three months ended March 31, 2015 and 2014, respectively, which are included in extinguishment of debt, net in the accompanying consolidated statements of operations. In addition, the Company paid $10.1 million during the three months ended March 31, 2014 for the settlement of interest rate swaps that were associated with certain 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 a gain of $0.4 million and $19.6 million during the three months ended March 31, 2015 and 2014, respectively, which is included in extinguishment of debt, net in the accompanying consolidated statements of operations. The mortgages repaid during the three months ended March 31, 2015 had a weighted-average interest rate of 6.14% and a weighted-average remaining term of 2.02 years at the time of extinguishment.
	On January 13, 2015, a substantially vacant office building in Bethesda, Maryland was foreclosed upon after the Company elected to stop making debt service payments on the related non-recourse loan with an outstanding balance of $53.8 million as of December 31, 2014. As a result of the foreclosure, the Company forfeited its right to the property and was relieved of all obligations on the non-recourse loan. During the three months ended March 31, 2015, the Company recorded a gain on the forgiveness of debt of $4.9 million, which is included in other income, net in the accompanying consolidated statement of operations.
	On March 6, 2015, the Company received a notice of default from the lender of a non-recourse loan with a principal balance of $38.1 million due to the Company failing to pay a reserve payment required per the loan agreement. Due to the default, the Company is currently accruing interest at the default rate of interest of 10.68% per annum.
	The following table summarizes the scheduled aggregate principal repayments due on mortgage notes and other debt subsequent to March 31, 2015 (in thousands):
			Total
	2015		$	62,577
	2016		264,332
	2017		465,583
	2018		233,420
	2019		295,956
	Thereafter		2,277,305
	Total		$	3,599,173
	Other Debt
	As of March 31, 2015, the Company had a secured term loan from KBC Bank, N.V. with an outstanding principal balance of $40.0 million and remaining unamortized premium of $0.4 million (the “KBC Loan”). The interest coupon on the KBC Loan is fixed at 5.81% annually until the maturity in January 2018. The KBC Loan is non-recourse to the Company, subject to limited non-recourse exceptions. The KBC Loan provides for monthly payments of both principal and interest. The scheduled principal repayments subsequent to March 31, 2015 are $6.5 million, $12.5 million, $7.7 million and $13.3 million for the years ended December 31, 2015, 2016, 2017 and 2018, respectively.
	The KBC Loan is secured by various investment assets held by the Company. The following table is a summary of borrowings and carrying value of the collateral by asset type as of March 31, 2015 (in thousands):
			Borrowings				Collateral Carrying Value
	Loans held for investment		$	11,051			$	20,966
	Intercompany mortgage loans on CapLease properties		3,091				10,926
	CMBS		25,856				40,866
			$	39,998			$	72,758
	Corporate Bonds
	As of March 31, 2015, the OP had aggregate senior unsecured notes of $2.55 billion outstanding (the “Senior Notes”). The following table presents the three senior notes with their respective terms (dollar amounts in thousands):
			Outstanding Balance				Interest Rate			Maturity Date
	2017 Senior Notes		$	1,300,000			2	%		February 6, 2017
	2019 Senior Notes		750,000				3	%		February 6, 2019
	2024 Senior Notes		500,000				4.6	%		February 6, 2024
	Total balance and weighted-average interest rate		$	2,550,000			2.8	%
The Senior Notes are guaranteed by ARCP. The OP may redeem all or a part of any series of the Senior Notes at any time at its option at the redemption prices set forth in the indenture governing the Senior Notes, plus accrued and unpaid interest on the principal amount of the Senior Notes of such series being redeemed to, but excluding, the applicable redemption date. With respect to the 2019 Senior Notes and the 2024 Senior Notes, if such Senior Notes are redeemed on or after January 6, 2019 with respect to the 2019 Senior Notes, or November 6, 2023 with respect to the 2024 Senior Notes, the redemption price will equal 100% of the principal amount of the Senior 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. The Senior Notes are registered under the Securities Act of 1933 and are freely transferable.
Agreement in Principle with Senior Noteholder Group
On January 22, 2015, the Company announced that it had entered into an agreement in principle with an ad hoc group of holders (the “Senior Noteholder Group”), which the Company had been advised then represented a majority of the aggregate principal amounts outstanding of each of the 2.00% senior notes due 2017, the 3.00% senior notes due 2019 and the 4.60% senior notes due 2024, which, in each case, were issued by the OP, of which the Company is the sole general partner, and guaranteed by the Company under an Indenture, dated February 6, 2014 (the “Indenture”), by and among the OP, U.S. Bank National Association, as trustee, and the guarantors named therein. Pursuant to such agreement, the Senior Noteholder Group agreed not to issue a notice of default, prior to March 3, 2015, for the Company’s failure to timely deliver a quarterly report on Form 10-Q for the third quarter of 2014 (the “Third Quarter 10-Q”) containing financial information required to be included therein for the OP, which was required to be delivered pursuant to the terms of the Indenture. In exchange, the Company agreed to sign a confidentiality agreement with the Senior Noteholder Group’s counsel and pay reasonable and documented fees and out-of-pocket expenses of such counsel up to $300,000. Furthermore, the parties agreed that in the event a notice of default related to the Company’s failure to timely deliver such third quarter 2014 financial statements was issued by the senior noteholders on or after March 3, 2015, the 60-day cure period set forth in the Indenture would be reduced by one day for each day after January 19, 2015 that such notice of default was given. Such agreement was subsequently definitively documented and a supplement to the Indenture was entered into on February 9, 2015. The agreement was reached after the ad hoc group organized and directed counsel to the Senior Noteholder Group to engage in discussions with the Company regarding the terms of a possible resolution in response to the Company’s failure to timely deliver such third quarter 2014 financial information regarding the OP. The Company and the OP filed the Third Quarter 10-Q containing the required financial information with the SEC on March 2, 2015. As such, the Company believes it was in compliance with the Indenture, as of March 31, 2015.
Convertible Debt
As of March 31, 2015, the Operating Partnership had aggregate convertible notes of $1.0 billion outstanding to the General Partner (the “Convertible Notes”). The Convertible Notes are identical to ARCP’s registered issuance of the same amount of notes to various purchasers in a public offering. The following table presents the two convertible notes with their respective terms (dollar amounts in thousands):
		Outstanding Balance				Interest Rate			Conversion Rate (1)		Maturity Date
2018 Convertible Notes		$	597,500			3	%		60.5997		August 1, 2018
2020 Convertible Notes		402,500				3.75	%		66.7249		December 15, 2020
Total balance and weighted-average interest rate		$	1,000,000			3.3	%
____________________________________
-1	Conversion rate represents the amount of the General Partner OP Units per $1,000 principal amount.
In connection with any permissible conversion election made by the holders of the identical convertible notes issued by ARCP, the General Partner may elect to convert the 2018 Convertible Notes into cash, General Partner OP Units or a combination thereof, in limited circumstances prior to February 1, 2018 and may convert the 2018 Convertible Notes at any time into such consideration on or after February 1, 2018. Additionally, the General Partner may elect to convert the 2020 Convertible Notes into cash, General Partner OP Units or a combination thereof, in limited circumstances prior to June 15, 2020 and may convert the 2020 Convertible Notes at any time into such consideration on or after June 15, 2020.
The Company announced on January 22, 2015 that it received at its Phoenix, Arizona corporate office notice (the “Notice”) from the trustee under the indentures (the “Convertible Indentures”) governing each of the 2018 Notes and the 2020 Notes (collectively, the “Convertible Notes”) of the Company’s failure to timely deliver the Company’s Third Quarter 10-Q, which was required to be delivered pursuant to the terms of the Convertible Indentures. Subsequent to the Company’s announcement, the Company learned that it also received the Notice on January 16, 2015, at an address in New York City that was formerly the Company’s principal place of business. Pursuant to the terms of the Convertible Indentures, the Company had 60 days following its receipt of a notice of default to deliver the required financial statements, after which such failure would become an event of default under each of the Convertible Indentures. The Company and the OP filed the Third Quarter 10-Q containing the required financial information with the SEC on March 2, 2015. As such, the Company believes it was in compliance with the Convertible Indentures, as of March 31, 2015.
Credit Facility
The General Partner, as guarantor, and the OP, as borrower, are parties to an unsecured credit facility (the “Credit Facility”) pursuant to a credit agreement, dated as of June 30, 2014, as amended, with Wells Fargo, National Association, as administrative agent and other lenders party thereto (the “Credit Agreement”).
As of March 31, 2015, the Credit Facility allows for maximum borrowings of $3.6 billion, consisting of a $1.0 billion term loan and a $2.6 billion revolving credit facility. The outstanding balance on the Credit Facility was $3.2 billion, of which $2.2 billion bore a floating interest rate of 1.97% at March 31, 2015. The remaining outstanding balance on the Credit Facility of $1.0 billion is, in effect, fixed through the use of derivative instruments used to hedge interest rate volatility. Including the spread, which can vary based on ARCP’s credit rating, the interest rate on this portion was 3.30% at March 31, 2015. As of March 31, 2015, a maximum of $416.0 million was available to the OP for future borrowings, subject to borrowing availability. The credit facility matures on June 30, 2018.
On December 23, 2014, ARCP and the OP, as the borrower, entered into a Consent and Waiver Agreement (the “Consent and Waiver”) with respect to the Credit Agreement. The Consent and Waiver, among other things, (i) provided for a further extension of the date for the delivery of the Third Quarter 10-Q and certain other financial deliverables that the Company agreed to provide under the Amendment, until the earlier of March 2, 2015 and 45 days following the receipt of a notice of breach or default from the applicable trustee or the requisite percentage of holders under ARCP’s and the OP’s respective indentures, (ii) provided an extension from the lenders for the delivery of the Company’s full-year 2014 audited financial statements until the earlier of the fifth day after the date that the Company files its Annual Report on Form 10-K with the SEC for the fiscal year ended December 31, 2014 and March 31, 2015, (iii) permanently reduced the maximum amount of indebtedness under the Credit Agreement to $3.6 billion, including the reduction of commitments under the undrawn term loan commitments and the Company’s revolving facilities as well as the elimination of the $25.0 million swingline facility, (iv) provided that until the date that all required financial deliverables have been delivered, no further loans or letters of credit would be requested under the Credit Agreement, as amended, by the Company, other than in accordance with the cash flow forecast provided by the Company to the lenders thereunder and that neither the Company nor the OP would pay any dividends on, or make any other Restricted Payment (as defined in the Credit Agreement) on, its respective common equity and (v) provided that the Company would provide additional financial and other information to the lenders from time to time. In connection with the Consent and Waiver, the Company agreed to pay certain customary fees to the consenting lenders and agreed to reimburse certain customary expenses of the arrangers.
The Company filed the Third Quarter 10-Q and other necessary deliverables on March 2, 2015 and its Annual Report on Form 10-K, as amended, with the SEC on March 30, 2015. As such, all limitations on making Restricted Payments or borrowing funds have been lifted.
The revolving credit facility generally bears interest at an annual rate of LIBOR plus from 1.00% to 1.80% or Base Rate plus 0.00% to 0.80% (based upon ARCP’s then current credit rating). “Base Rate” is defined as the highest of the prime rate, the federal funds rate plus 0.50% or a floating rate based on one month LIBOR, determined on a daily basis. The term loan facility generally bears interest at an annual rate of LIBOR plus 1.15% to 2.05%, or Base Rate plus 0.15% to 1.05% (based upon ARCP’s then current credit rating). In addition, the Credit Agreement provides the flexibility for interest rate auctions, pursuant to which, at the Company’s election, the Company may request that lenders make competitive bids to provide revolving loans, which competitive bids may be at pricing levels that differ from the foregoing interest rates.
The Credit Agreement provides for monthly interest payments under the Credit Facility. In the event of default, at the election of the majority of the lenders (or automatically upon a bankruptcy event of default with respect to the OP or ARCP), the commitments of the lenders under the Credit Facility terminate, and payment of any unpaid amounts in respect of the Credit Facility is accelerated. The revolving credit facility and the term loan facility both terminate on June 30, 2018, in each case, unless extended in accordance with the terms of the Credit Agreement. The Credit Agreement provides for a one-year extension option with respect to each of the revolving credit facility and the term loan facility, exercisable at the Company’s election and subject to certain customary conditions, as well as certain customary “amend and extend” provisions. At any time, upon timely notice by the OP and subject to any breakage fees, the OP may prepay borrowings under the Credit Facility (subject to certain limitations applicable to the prepayment of any loans obtained through an interest rate auction, as described above). The OP incurs a fee equal to 0.15% to 0.25% per annum (based upon ARCP’s then current credit rating) multiplied by the commitments (whether or not utilized) in respect of the dollar revolving credit facility and the multi-currency credit facility. In addition, the OP incurs customary administrative agent, letter of credit issuance, letter of credit fronting, extension and other fees.
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.

Derivatives_and_Hedging_Activi

Derivatives and Hedging Activities	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities
	Risk Management Objective of Using Derivatives
	The Company may use derivative financial instruments, including interest rate swaps, caps, options, floors and other interest rate derivative contracts, to hedge all or a portion of the interest rate risk associated with its borrowings. The principal objective of such arrangements is to minimize the risks and/or costs associated with the Company’s operating and financial structure as well as to hedge specific anticipated transactions. The Company does not intend to utilize derivatives for speculative or other purposes other than interest rate risk management. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company only enters into derivative financial instruments with counterparties with high credit ratings and with major financial institutions with which the Company and its affiliates may also have other financial relationships. The Company does not anticipate that any of the counterparties will fail to meet their obligations.
	Cash Flow Hedges of Interest Rate Risk
	The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps and collars as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Interest rate collars designated as cash flow hedges involve the receipt of variable-rate amounts if interest rates rise above the cap strike rate on the contract and payments of variable-rate amounts if interest rates fall below the floor strike rate on the contract.
	The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the three months ended March 31, 2015, 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 $9.2 million will be reclassified from other comprehensive income as an increase to interest expense.
	As of March 31, 2015, 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
		Instruments
	Interest rate swaps	17		$	1,248,814
	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, 2015 and December 31, 2014 (in thousands):
	Derivatives Designated as Hedging Instruments	Balance Sheet Location		March 31, 2015				31-Dec-14
	Interest rate products	Deferred costs and other assets, net		$	1,251			$	4,941
	Interest rate products	Deferred rent, derivative and other liabilities		$	(11,721	)		$	(7,384	)
	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, 2015 and 2014, respectively (in thousands):
		Three Months Ended March 31,
		2015				2014
	Derivatives in Cash Flow Hedging Relationships
	Amount of (loss) gain recognized in accumulated other comprehensive income on interest rate derivatives (effective portion)	$	(10,396	)		$	(3,839	)
	Amount of loss reclassified from accumulated other comprehensive income into income as interest expense (effective portion)	$	2,736			$	1,541
	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 10-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 a cash flow hedge, for $3.9 million, which was recorded to other comprehensive loss and will be amortized into earnings over the 10-year term of the Treasury Lock. The Company recognized $0.2 million of interest expense for the three months ended March 31, 2015 related to 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 requirements to be classified as hedging instruments. A loss of $1.0 million related to the change in the fair value of derivatives no designated in hedging relationships was recorded directly in earnings during the three months ended March 31, 2015. The Company recorded a loss of $7.1 million for the three months ended March 31, 2014 relating to the contingent value rights.
	As of March 31, 2015, the Company had the following outstanding interest rate derivative that was not designated as a qualifying hedging relationship (dollar amounts in thousands):
	Interest Rate Derivative	Number of Instruments		Notional Amount
	Interest rate swap	1		$	51,400
	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, 2015 and December 31, 2014 (in thousands):
	Derivatives Not Designated as Hedging Instruments	Balance Sheet Location		March 31, 2015				31-Dec-14
	Interest rate products	Deferred costs and other assets, net		$	—			$	568
	Interest rate products	Deferred rent, derivative and other liabilities		$	(33	)		$	—
	Tabular Disclosure of 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, 2015 and December 31, 2014. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the accompanying consolidated balance sheets (in thousands).
		Offsetting of Derivative Assets and Liabilities
		Gross Amounts of Recognized Assets				Gross Amounts of Recognized Liabilities				Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts of Assets Presented in the Consolidated Balance Sheets		Net Amounts of Liabilities Presented in the Consolidated Balance Sheets			Financial Instruments		Cash Collateral Received		Net Amount
	March 31, 2015	$	1,251			$	(11,754	)		$	—	$	1,251	$	(11,754	)	$	—	$	—	$	(10,503	)
	31-Dec-14	$	5,509			$	(7,384	)		$	—	$	5,509	$	(7,384	)	$	—	$	—	$	(1,875	)
	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, 2015, 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 $13.1 million. As of March 31, 2015, 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 $13.1 million at March 31, 2015.

Accounts_Payable_and_Accrued_E

Accounts Payable and Accrued Expenses	3 Months Ended
	Mar. 31, 2015
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses
	Accounts payable and accrued expenses consisted of the following as of March 31, 2015 and December 31, 2014 (in thousands):
		March 31, 2015		31-Dec-14
	Accrued other	$	64,508	$	58,807
	Accrued interest	39,191		56,558
	Accrued real estate taxes	44,828		37,633
	Accounts payable	11,602		10,027
		$	160,129	$	163,025

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies
	Litigation
	In the ordinary course of business, the Company may become subject to litigation or claims. There are no material legal proceedings pending or known to be contemplated against the Company, except as follows:
	Regulatory Investigations and Litigation Relating to the Audit Committee Investigation
	On October 29, 2014, the Company filed a Current Report on Form 8-K (the “October 29 8-K”) reporting the Audit Committee’s conclusion, based on the preliminary findings of its investigation, that certain previously issued consolidated financial statements of the Company, including those included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2014 and June 30, 2014, and related financial information should no longer be relied upon. Prior to that filing, the Audit Committee previewed for the SEC the information contained in the filing. Subsequent to that filing, the SEC provided notice that it had commenced a formal investigation and issued subpoenas calling for the production of various documents. In addition, the United States Attorney’s Office for the Southern District of New York contacted counsel for the Audit Committee and counsel for the Company with respect to this matter, and the Secretary of the Commonwealth of Massachusetts issued a subpoena calling for the production of various documents. The Audit Committee and the Company are cooperating with these regulators in their investigations.
	As discussed below, the Company and certain of its current and former directors and officers have been named as defendants in a number of lawsuits filed in response to the October 29 8-K, including class actions, derivative actions, and individual actions under the federal securities laws and state common and corporate laws in both federal and state courts in New York and Maryland.
	Between October 30, 2014 and January 20, 2015, the Company and its current and former officers and directors (in addition to the Company’s underwriters for certain of the Company’s securities offerings, among other individuals and entities) were named as defendants in ten putative securities class action complaints filed in the United States District Court for the Southern District of New York (the “SDNY Actions”): Ciraulu v. American Realty Capital, Inc., et al., No. 14-cv-8659 (AKH); Priever v. American Realty Capital Properties, Inc., et al., No. 14-cv-8668 (AKH); Rubinstein v. American Realty Capital Properties, Inc., et al., No. 14-cv-8669 (AKH); Patton v. American Realty Capital Properties, Inc., et al., No. 14-cv-8671 (AKH); Edwards v. American Realty Capital Properties, Inc., et al., No. 14-cv-8721 (AKH); Harris v. American Realty Capital Properties, Inc., et al., No. 14-cv-8740 (AKH); Abadi v. American Realty Capital Properties, Inc., et al., No. 14-cv-9006 (AKH); City of Tampa General Employees Retirement Fund v. American Realty Capital Properties, Inc., et al., No. 14-cv-10134 (AKH); Teachers Insurance and Annuity Association of America v. American Realty Capital Properties, Inc., et al., No. 15-cv-0421 (AKH); and New York City Employees Retirement System v. American Realty Capital Properties, Inc., et al., No. 15-cv-0422 (AKH). At a February 10, 2015 status conference, the court, among other things, consolidated the SDNY Actions under the caption In re American Realty Capital Properties, Inc. Litigation, No. 15-MC-00040 (AKH) (the “SDNY Consolidated Securities Class Action”) and appointed a lead plaintiff. The lead plaintiff filed an amended class action complaint on April 17, 2015, which asserted claims for violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 and Sections 10(b), 14(a) and 20(a) of the Securities Exchange Act of 1934 and Rules 10b-5 and 14a-9 promulgated thereunder, arising out of allegedly false and misleading statements in connection with the purchase or sale of the Company’s securities. The Company and other defendants have until May 29, 2015 to file motions to dismiss.
	In addition, on November 25, 2014, the Company and certain of its current and former officers and directors were named as defendants in a putative securities class action filed in the Circuit Court for Baltimore County, Maryland, captioned Wunsch v. American Realty Capital Properties, Inc., et al., No. 03-C-14-012816 (the “Wunsch Action”). On December 23, 2014, the Company removed the Maryland Securities Action to the United States District Court for the District of Maryland (Northern Division), under the caption Wunsch v. American Realty Capital Properties, Inc., et al., No. 14-cv-4007 (ELH). On April 15, 2015, the Maryland court transferred the Wunsch Action to the United States District Court for the Southern District of New York, under the caption Wunsch v. American Realty Capital Properties, Inc., et al., No. 15-cv-2934. The Wunsch Action asserts claims for violations of Sections 11 and 15 of the Securities Act of 1933, arising out of allegedly false and misleading statements made in connection with the Company’s securities issued in connection with the Cole Merger. The Company is not yet required to respond to the complaint in the Wunsch Action.
	Between November 17, 2014 and February 2, 2015, six shareholder derivative actions, purportedly in the name and for the benefit of the Company, were filed against certain of the Company’s current and former officers and directors in the United States District Court for the Southern District of New York (the “SDNY Derivative Actions”): Michelle Graham Turner 1995 Revocable Trust v. Schorsch, et al., No. 14-cv-9140 (AKH); Froehner v. Schorsch, et al., No. 14-cv-9444 (AKH); Serafin v. Schorsch, et al., No. 14-cv-9672 (AKH); Hopkins v. Schorsch, et al., No. 15-cv-262 (AKH); Appolito v. Schorsch, et al., No. 15-cv-644 (AKH); and The Joel and Robin Staadecker Living Trust v. Schorsch, et al., No. 15-cv-768 (AKH). In addition, between December 30, 2014 and January 16, 2015, the Company and certain of its current and former officers and directors were named as defendants in two shareholder derivative actions filed in the Circuit Court for Baltimore City, Maryland (the “Maryland Derivative Actions”):  Meloche v. Schorsch, et al., No. 24-C-14-008210 and Botifoll v. Schorsch, et al., No. 24-C-15-000245. In addition, on January 29, 2015, the Company and certain of its current directors, amongst others, were named as defendants in a shareholder derivative action filed in the Supreme Court of the State of New York, captioned Fran Kosky Roth IRA v. Rendell, et al., No. 15-650269 (the “New York Derivative Action,” and together with the SDNY Derivative Actions and the Maryland Derivative Actions, the “Derivative Actions”). On February 9, 2015 and February 20, 2015, three plaintiffs who filed SDNY Derivative Actions-Appolito, Hopkins and The Joel and Robin Staadecker Living Trust-voluntarily dismissed their actions without prejudice. The Derivative Actions seek money damages and other relief on behalf of the Company for, among other things, alleged breaches of fiduciary duty, abuse of control, gross mismanagement and unjust enrichment in connection with the alleged conduct underlying the claims asserted in the securities actions and negligence and breach of contract. At a February 10, 2015 conference, the court consolidated the SDNY Derivative Actions under the caption Serafin v. Schorsch, et al., No. 14-cv-9672 (AKH) (the “SDNY Consolidated Derivative Action”) and directed the plaintiffs to file a consolidated amended complaint by March 10, 2015. On March 10, 2015, the plaintiffs in the SDNY Consolidated Derivative Action filed a consolidated amended complaint. The Company and defendants filed motions to dismiss the consolidated amended complaint in the SDNY Consolidated Derivative Action on April 3, 2015, which is expected to be fully briefed by May 8, 2015. On March 18, 2015, the parties to the Maryland Derivative Actions entered into a stipulation providing for, among other things, the consolidation of those actions. The Company and defendants are not yet required to respond to the complaints in the Maryland Derivative Actions. On April 20, 2015, the parties to the New York Derivatives Action entered into a stipulation setting a deadline of May 5, 2015 for the plaintiff to file an amended complaint and setting a deadline of June 15, 2015 for the Company and defendants to respond to the amended complaint in the action.
	On December 18, 2014, a former employee, Lisa McAlister, filed a defamation action against the Company and certain of its former officers and directors in the Supreme Court for the State of New York, captioned McAlister v. American Realty Capital Properties, Inc., et al., No. 14-162499. The complaint sought, among other things, compensatory and punitive damages and alleged that the October 29 8-K falsely blamed plaintiff for improper accounting and financial reporting practices. On January 26, 2015, the Company and the other defendants filed motions to dismiss plaintiff’s complaint. Subsequently, Ms. McAlister dismissed this action without prejudice.
	On January 7, 2015, Ms. McAlister also filed a complaint, No. 2-4173-15-016, with the Occupational Safety and Health Administration of the United States Department of Labor. The complaint sought, among other things, compensatory and punitive damages and asserted claims for wrongful termination of employment for allegedly reporting concerns relating to alleged improper accounting practices by the Company. Ms. McAlister subsequently withdrew the complaint and the matter has been closed.
	On January 15, 2015, the Company and certain of its former directors and officers were named as defendants in an individual securities fraud action filed in the United States District Court for the Southern District of New York, captioned Jet Capital Master Fund, L.P. v. American Realty Capital Properties, Inc., et al., No. 15-cv-307 (AKH) (the “Jet Capital Action”). The Jet Capital Action seeks money damages and asserts claims for alleged violations of Sections 10(b), 18 and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, as well as common law fraud under New York law in connection with the purchase of the Company’s securities. On April 17, 2015, the plaintiff filed an amended complaint. The Company and defendants are required to respond to the amended complaint in the Jet Capital Action on the same schedule set by the court for the SDNY Consolidated Securities Class Action.
	On February 20, 2015, the Company, certain of its current and former directors and officers, and ARC Properties Operating Partnership L.P. (in addition to several other individuals and entities) were named as defendants in an individual securities fraud action filed in the United States District Court for the Southern District of New York, captioned Twin Securities, Inc. v. American Realty Capital Properties, Inc., et al., No. 15-cv-1291 (the “Twin Securities Action”). The Twin Securities Action seeks money damages and asserts claims for alleged violations of Sections 10(b), 14(a), 18, and 20(a) of the Securities Exchange Act of 1934 and Rules 10b-5 and 14a-9 promulgated thereunder, Sections 11, 12(a)(2), and 15 of the Securities Act of 1933, as well as common law fraud under New York law in connection with the purchase of the Company’s securities. The Company and defendants are not yet required to respond to the complaint in the Twin Securities Action.
	ARCT III Litigation Matters
	After the announcement of the merger agreement with American Realty Capital Trust III, Inc. (“ARCT III”) on December 17, 2012 (the “ARCT III Merger Agreement”), Randell Quaal filed a putative class action lawsuit on January 30, 2013 against the Company, the OP, ARCT III, ARCT III’s operating partnership, 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 merger with ARCT III, 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 merger agreement with CapLease 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 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.
	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 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. Plaintiff has filed an opposition to that motion, which remains pending.
	Cole Litigation Matters
	Three putative class action and/or derivative lawsuits, which were filed in March and April 2013, 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 consolidated action pending before the court, but the plaintiffs appealed that dismissal. On July 31, 2014, plaintiffs dismissed the pending state court appeal based on an agreement by defendants to reimburse plaintiffs in the amount of $100,000. 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 in these actions 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 did 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 contained coercive deal protection measures and that the Cole Merger Agreement and 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. 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 would 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 would enter into a stipulation of settlement, subject to customary conditions, including confirmatory discovery and court approval following notice to Cole’s stockholders. The Sobon lawsuit was voluntarily dismissed on February 3, 2014.
	On August 14, 2014, the parties in the consolidated Baltimore Merger Actions executed a Stipulation and Release and Agreement of Compromise and Settlement (the “Settlement Stipulation”). The parties in the consolidated Baltimore Merger Actions submitted the Settlement Stipulation, along with related filings, for approval by the Maryland court on August 18, 2014. On August 25, 2014, the Baltimore Circuit Court entered an Order on Preliminary Approval of Derivative and Class Action Settlement and Class Action Certification and scheduled a final settlement hearing in the consolidated Baltimore Merger Actions.
	The defendants in the consolidated Baltimore Merger Actions mailed a Notice of Pendency of Derivative and Class Action (the “Class Notice”) to the Cole stockholders on October 7, 2014, following the court’s preliminary approval of the parties’ Settlement Stipulation. On December 3, 2014, the parties in the consolidated Baltimore Merger Actions executed an Amended Stipulation and Release and Agreement of Compromise and Settlement (the “Amended Stipulation”) modifying the Stipulation. A final settlement hearing in the consolidated Baltimore Merger Actions was held on December 12, 2014, and on January 13, 2015, the Baltimore Circuit Court issued an order approving the settlement pursuant to the terms of the Amended Stipulation. Under the terms of the approval settlement, defendants established a $14.0 million settlement, out of which a $7.0 million attorney’s fee was paid. Two objectors have since filed a notice of appeal of the settlement order. Following court approval of the settlement of the consolidated Baltimore Merger Actions, the Wunsch case was dismissed voluntarily on January 21, 2015.
	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.
	As of March 31, 2015, no reserves have been recorded for the cases discussed above, as the amounts of potential losses were determined not to be probable or estimable.
	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 lease obligations, which are substantially reimbursable by our tenants, and office lease obligations (in thousands):
		Future Minimum Base Rent Payments
		Ground Leases		Offices Leases
	April 1, 2015 - December 31, 2015	$	14,291	$	5,187
	2016	18,190		4,963
	2017	17,692		4,595
	2018	15,576		4,655
	2019	15,150		4,716
	Thereafter	247,837		18,412
	Total	$	328,736	$	42,528
	Purchase Commitments
	Cole Capital enters into purchase and sale agreements and deposits funds into escrow towards the purchase of such acquisitions, some 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, 2015, Cole Capital was a party to 34 purchase and sale agreements with unaffiliated third-party sellers to purchase a 100% interest in 144 properties, subject to meeting certain criteria, for an aggregate purchase price of $687.8 million, exclusive of closing costs. As of March 31, 2015, Cole Capital had $27.1 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. During the three months ended March 31, 2015, Cole Capital did not forfeit any property escrow deposits. Cole Capital 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.

Equity

Equity	3 Months Ended
	Mar. 31, 2015
Stockholders' Equity Note [Abstract]
Equity	Equity
	Common Stock and General Partner Common OP Units
	The Company is authorized to issue up to 1.5 billion shares of common stock, $0.01 par value per share. As of March 31, 2015, the Company had approximately 905.1 million of common shares issued and outstanding.
	Additionally, the Operating Partnership had approximately 905.1 million and approximately 23.8 million of General Partner OP Units and Limited Partner OP Units, respectively, issued and outstanding as of March 31, 2015.
	Preferred Stock and Preferred OP Units
	On January 3, 2014, in connection with the ARCT IV Merger, 42.2 million shares of Series F preferred stock (“Series F Preferred Stock”) were issued, resulting in the Operating Partnership concurrently issuing 42.2 million General Partner Series F preferred units (“Series F Preferred Units”) to the General Partner, and 700,000 Limited Partner Series F Preferred Units to holders of ARCT IV OP Units. As of March 31, 2015, there were approximately 42.8 million shares of Series F Preferred Stock (and approximately 42.8 million corresponding General Partner Series F Preferred Units) and 86,874 Limited Partner Series F Preferred Units issued and outstanding.
	The Series F Preferred Units contain the same terms as the Series F Preferred Stock. Therefore, the Series F Preferred Stock/Units will pay cumulative cash dividends at the rate of 6.70% per annum on their liquidation preference of $25.00 per share/unit (equivalent to $1.675 per share/unit on an annual basis). The Series F Preferred Stock is not 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 General Partner’s status as a REIT 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 General Partner’s common stock or General Partner OP Units (or, if applicable, alternative consideration). The Series F Preferred Stock of the General Partner trades on the NASDAQ under the symbol “ARCPP.”
	Common Limited Partner OP Units
	As of March 31, 2015 and December 31, 2014 the Operating Partnership had approximately 23.8 million of Limited Partner OP Units outstanding.
	On March 11, 2015, the Company received redemption requests totaling approximately 13.1 million OP Units ($126.7 million based on a redemption price of $9.65) from certain affiliates of the Former Manager. The Company is currently reviewing these requests and expects to satisfy them in accordance with the terms of the LPA.
	Recent Offerings
	On May 28, 2014, the General Partner closed on a public offering of 138.0 million shares of ARCP common stock at a price of $12.00 per share. The net proceeds to ARCP were $1.6 billion after deducting underwriting discounts, commissions and offering-related expenses. Concurrently, the Operating Partnership issued the General Partner 138.0 million General Partner OP Units.
	Common Stock Dividends
	On December 23, 2014, in connection with the amendments to the Credit Facility, the Company agreed to suspend payment of dividends on its common stock until it complied with certain financial statement delivery and other information requirements. On March 30, 2015, the Company satisfied these financial statement and other information requirements. The annualized dividend rate at March 31, 2014 was $1.00 per share, and the Company’s board of directors is currently evaluating the 2015 dividend.
	Common Stock Repurchases
	On August 20, 2013, ARCP’s board of directors reauthorized its 250.0 million share repurchase program, which was originally authorized in February 2013, in order to reaffirm the parameters of the share repurchase program. During the three months ended March 31, 2015, ARCP did not repurchase any shares of common stock under the share repurchase program.
	Under ARCP’s equity compensation plans, individuals have the option to have ARCP repurchase shares upon vesting in order to satisfy the minimum federal and state tax withholding obligations. During the three months ended March 31, 2015, ARCP repurchased 132,826 of shares to satisfy the federal and state tax withholding on behalf of employees.

Equitybased_Compensation

Equity-based Compensation	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-based Compensation	Equity-based Compensation
	Equity Plan
	The General Partner 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 General Partner’s and its affiliates’ non-executive directors, officers and other employees and advisors or consultants who are providing services to the General Partner or its affiliates. For each share awarded under the Equity Plan, the Operating Partnership issues a General Partner OP Unit to the General Partner with identical terms.
	The General Partner 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. As of March 31, 2015, the General Partner had cumulatively awarded approximately 7.7 million common shares under the Equity Plan, with approximately 85.2 million shares available for future issuance. In accordance with the LPA, the Operating Partnership issued an equal number of General Partner OP Units to ARCP when the General Partner awarded shares under the Equity Plan.
	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 expensed in full at the date of grant.
	Director Stock Plan
	The General Partner has adopted a Non-Executive Director Stock Plan (the “Director Stock Plan”), which provides for the grant of restricted shares of common stock to each of the General Partner’s non-executive directors. 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. As of March 31, 2015, a total of 99,000 shares of common stock was reserved for issuance under the Director Stock Plan. As of March 31, 2015, the General Partner had awarded 45,000 shares under the Director Stock Plan, with 54,000 shares available for future issuance. In accordance with the LPA, the Operating Partnership issued an equal number of General Partner OP Units to ARCP when the General Partner awarded shares under the Director Stock Plan.
	The fair value of restricted common stock awards, as well as the underlying General Partner OP Units, under the Director Stock Plan is determined on the grant date using the closing stock price on NASDAQ that day.
	The following table details the unvested restricted share award activity within the Equity Plan during the three months ended March 31, 2015. There was no activity within the Director Stock Plan during the three months ended March 31, 2015.
		Equity Plan
		Shares of		Weighted-Average Issue Price
		Restricted Common Stock
	Unvested, December 31, 2014	2,684,062		$	13.84
	Vested	(494,774	)	13.98
	Forfeited	(265,886	)	13.71
	Unvested, March 31, 2015	1,923,402		$	13.83
	For the three months ended March 31, 2015, compensation expense for restricted shares was $0.8 million, which is recorded in general and administrative expense in the accompanying consolidated statement of operations.
	Multi-Year Outperformance Plan
	Upon consummation of the merger with ARCT III, the Company entered into the 2013 Advisor Multi-Year Outperformance Agreement (the “OPP”) with the Former Manager, whereby the Former Manager was able to earn compensation upon the attainment of stockholder value creation targets.
	Under the OPP, the Former Manager was granted approximately 8.2 million long-term incentive plan units of the OP (“LTIP Units”), which could be earned or forfeited based on the General Partner’s total return to stockholders, as defined by the OPP, for the three-year period that commenced on December 11, 2012.
	Pursuant to previous authorization of the General Partner’s board of directors, as a result of the termination of the Management Agreement, all approximately 8.2 million 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 and were converted into OP Units on such date.
	2014 Multi-Year Outperformance Plan
	On October 3, 2013, the General Partner’s board of directors approved a multi-year outperformance plan (the “2014 OPP”), which became effective upon the General Partner’s transition to self-management, which occurred on January 8, 2014. Under the 2014 OPP, individual agreements were entered into between the General Partner and the participants selected by the General Partner’s board of directors (the “Participants”) that set forth the Participant’s participation percentage in the 2014 OPP and the number of LTIP Units of the OP subject to the award (“OPP Agreements”). Under the 2014 OPP and the OPP Agreements, the Participants were 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 “2014 OPP Cap”) of approximately 5% of the General Partner’s equity market capitalization at the time of the approval of the 2014 OPP which, following the Audit Committee’s and new management’s review, was determined to be $120.0 million.
	Subject to the 2014 OPP Cap, the pool was to equal an amount to be determined based on the General Partner’s level of achievement of total return to stockholders, as defined by the 2014 OPP, 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 2014 OPP Cap could be earned on the last day of each 12-month period during the Performance Period and the initial 24-month period of the Performance Period based on certain return achievements during the respective periods.
	The 2014 OPP provided for early calculation and vesting of the award in the event of a change in control of the General Partner, prior to the end of the Performance Period. The Participants were entitled to receive a tax gross-up in the event that any amounts paid to the Participant under the 2014 OPP constitute “parachute payments” as defined in Section 280G of the Code. The LTIP Units granted under the 2014 OPP represented units of equity ownership in the OP that were structured as a profits interest therein. Subject to the Participant’s continued service through each vesting date, one-third of any earned LTIP Units would vest on October 1, 2016, October 1, 2017 and October 1, 2018, respectively. The Participants were entitled to receive distributions on their LTIP Units to the extent provided for in the LPA, as amended from time to time.
	During the three months ended December 31, 2014, all of the Participants of the 2014 OPP departed from the Company and forfeited all interests they had in the 2014 OPP. As such, all equity-based compensation expense related to the 2014 OPP was reversed in the three months ended December 31, 2014 and no expense was recorded during the three months ended March 31, 2015. During the three months ended March 31, 2014, the Company recorded $2.5 million of equity-based compensation expense relating to the 2014 OPP, which is included in general and administrative expense in the accompanying statement of operations. As of March 31, 2015 and December 31, 2014, the Company had recorded a total payable for distributions on LTIP units related to the OPP and the 2014 OPP of $6.9 million. Subsequent to March 31, 2015, the 2014 OPP was canceled, see Note 20 – Subsequent Events for further discussion.

Related_Party_Transactions_and

Related Party Transactions and Arrangements	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions and Arrangements	Related Party Transactions and Arrangements
	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”). As a result of the resignations of certain officers and directors in December 2014, the Former Manager and its affiliates were no longer affiliated with the Company. During the three months ended March 31, 2015, there were no material transactions to report with affiliates of the Former Manager.
	The Audit Committee Investigation identified certain payments made by the Company to the Former Manager and its affiliates that were not sufficiently documented or that otherwise warrant scrutiny. As of December 31, 2014, the Company has recovered consideration valued at $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. As of March 31, 2015, no asset has been recognized in the accompanying consolidated 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,
		2015				2014
	Expenses and capitalized costs:
	Offering related costs	$	—			$	150
	Acquisition related expenses	—				1,539
	Merger and other non-routine transactions	—				137,738
	Management fees to affiliates	—				13,888
	General and administrative expenses	—				15,592
	Indirect affiliate expenses	—				498
	Total expenses and capitalized costs	$	—			$	169,405
	Cole Capital revenues:
	Cole Capital offering related revenue	$	3,117			$	42,453
	Cole Capital operating revenue	24,377				11,804
	Total Cole Capital revenues	$	27,494			$	54,257
	The following sections below further expand on the summarized related party transactions listed above.
	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 three months ended March 31, 2014, the Company incurred $0.2 million in commissions and fees paid to RCS in connection with each of the ARCT III IPO and the ARCT IV IPO, of which RCS served as the dealer manager. In addition, the Company reimbursed RCS for services relating to the Company’s ATM equity program during 2014. No such fees were incurred in the three months ended March 31, 2015. Offering related costs are included in offering costs 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 from Fortress Investment Group LLC and $0.5 million (equal to 0.25% of the contract purchase price) to RCS related to its acquisition of certain properties from Inland American Real Estate Trust, Inc. The Company paid no such fees to RCS during the three months ended March 31, 2015 in connection with these transactions.
	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.
	Unless otherwise indicated, all of the merger and other non-routine fees and reimbursements discussed below were incurred and recognized during the three months ended March 31, 2014.
	The tables 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 and Other			Cole Merger			Multi-tenant 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
	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.
	Pursuant to the Transaction Management Services Agreement, dated December 9, 2013, the Company 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 a spin-off of the Company’s multi-tenant shopping center business. 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 consolidated statement of operations.
	Other Non-routine Transactions
	ARCT IV Merger Subordinated Distribution Fee
	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, American Realty Capital Trust IV Special Limited Partner, LLC (the “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 $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. Upon consummation of the ARCT IV Merger, these ARCT IV OP Units were immediately converted into 6.7 million OP Units after application of the applicable ARCT IV exchange ratio. In conjunction with the merger agreement with ARCT IV, 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, 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 to purchase the FF&E and other assets during the three months ended March 31, 2014. 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 during the three months ended March 31, 2014.
	Personnel Costs and Other Reimbursements
	The Company, ARCT III and ARCT IV incurred expenses of and paid $2.1 million to RCS Advisory and ANST for personnel costs and reimbursements in connection with non-recurring transactions during the three months ended March 31, 2014.
	Post-Transaction Support Services
	In connection with its entry into the merger agreement with ARCT IV, ARCT IV agreed to pay additional asset management fees, which totaled $1.4 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. Pursuant to this agreement, 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 for services provided by the Former Manager and its affiliates related to the operations of the Company, ARCT III and ARCT IV.
	Asset Management Fees
	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 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. No such expense was recorded during the three months ended March 31, 2015.
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,
	2015				2014
General and administrative expenses:
Advisory fees and reimbursements	$	—			$	1,518
Equity awards	—				14,074
Total	$	—			$	15,592
Advisory fees and reimbursements
The Company, ARCT III and ARCT IV agreed to pay certain fees and reimbursements during the three months ended March 31, 2014, to the Former Manager and its affiliates, as applicable, for their out-of-pocket costs, including without limitation, legal fees and expenses, 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. During the three months ended March 31, 2014 these expenses totaled $1.5 million. No such fees were agreed upon or incurred during the three months ended March 31, 2015.
Equity Awards
Upon consummation of the merger with ARCT III, the Company entered into the OPP with the Former Manager. The OPP gave the Former Manager the opportunity to earn compensation upon the attainment of certain stockholder value creation targets. During the three months ended March 31, 2014, $1.6 million was recorded to general and administrative as equity-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.
During the three months ended March 31, 2014, the Company granted 796,075 restricted share awards to employees of affiliates of the Former Manager as compensation for certain services and 87,702 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 for the three months ended March 31, 2014 was recorded in general and administrative expenses in the accompanying consolidated statements of operations.
Indirect Affiliate Expenses
The Company incurred fees and expenses payable to affiliates of the Former Manager or payable to a third party on behalf of affiliates of the Former Manager for amenities related to certain buildings, as explained below. These expenses are depicted in the table below for the periods indicated (in thousands):
	Three Months Ended March 31,
	2015				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, the Former Manager and affiliates of the Former Manager. An affiliate of 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 ARC Advisory or be paid directly to the contractors and vendors. During the three months ended March 31, 2014, the Company incurred $0.3 million tenant improvements and furniture and fixtures relating to the renovation directly to the third parties. During the three months ended March 31, 2015, the Company incurred no such expenses.
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.
As a result of findings of the investigation conducted by the Audit Committee, the Company terminated this lease agreement and was reimbursed for the tenant improvements and furniture costs incurred by the Company, totaling $8.5 million, during the year ended December 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.
New York (405 Park Ave.) Office
During the three months ended March 31, 2014, the Company paid $0.1 million to ARC Advisory for rent related to the New York (405 Park Ave.) office where certain of the Company’s employees shared office space with an affiliate of the Former Manager. The Company paid no rent or leasehold improvements to ARC related to the New York office during the three months ended March 31, 2015 as the Company no longer occupies the space.
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 IV Special Limited Partner
In connection with the ARCT IV Merger, the ARCT IV Special Limited Partner invested $0.8 million in the ARCT IV OP and was subsequently issued 79,872 OP Units in respect thereof upon the closing of the ARCT III Merger after giving effect to the ARCT III’s exchange ratio of 0.95 of a share of ARCP’s common stock. This investment is included in non-controlling interests in the accompanying consolidated balance sheets.
Investment in an Affiliate of the Former Manager
The Company held an investment of $1.6 million 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 as of March 31, 2014.
As of March 31, 2015 the Company sold substantially all of its investment, with a remaining investment value less than $0.1 million.
Due to Affiliates
Due to affiliates, as reported in the accompanying consolidated balance sheets, of $0.5 million and $0.6 million as of March 31, 2015 and December 31, 2014, respectively, relates to amounts due to the Managed REITs.
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 (CCPT IV’s offering closed April 4, 2014). 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 annual asset-based dealer manager fee of 0.55% of the net asset value (“NAV”) for Wrap Class shares (“W Shares”) and Advisor Class Shares (“A Shares”) and 0.25% of the NAV for Institutional Class shares (“I Shares”). 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. The Company also receives an annual asset-based distribution fee of 0.50% of the NAV for A Shares. The Company, in its sole discretion, may reallow a portion of the distribution fee 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. 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.
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 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 3 – Segment Reporting. 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, 2015, the Company had $16.3 million of organization and offering costs, net of $15.8 million of reserves, 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, subject to certain limitations. The program development costs are included in deferred costs and other assets, net in the accompanying consolidated unaudited balance sheets.
The tables below reflect financial data for the three months ended March 31, 2015 and the period from the Cole acquisition to March 31, 2014 (in thousands):
	For the Three Months Ended March 31, 2015
	CCPT V				CCIT II			INAV			Total
Offering:
Selling commission revenue	$	536			$	1,226		$	13		$	1,775
Selling commissions reallowance expense	$	(536	)		$	(1,226	)	$	(13	)	$	(1,775	)
Dealer manager and distribution fee revenue	$	167			$	359		$	190		$	716
Dealer manager and distribution fees reallowance expense	$	(61	)		$	(151	)	$	(44	)	$	(256	)
Other expense reimbursement revenue	$	196			$	395		$	35		$	626
	Period from Cole Acquisition Date to March 31, 2014
	CCPT IV				CCPT V			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 and distribution 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. The Company earned disposition fees of $4.4 million, on behalf of CCIT when it merged with SIR. Acquisition and disposition fees and reimbursements, as applicable, are included in transaction service fees in the financial results for Cole Capital in Note 3 – Segment Reporting.
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 3 – Segment Reporting.
The Company recorded fees and expense reimbursements as shown in the table below for services provided primarily to the Managed REITs and the CCIT disposition fees (as described above). The tables below reflect financial data for the three months ended March 31, 2015 and the period from the Cole Acquisition Date to March 31, 2014 (in thousands):
	For the Three Months Ended March 31, 2015
	CCPT IV				CCPT V			CCIT			CCIT II			INAV			Other		Total
Operations:
Acquisition and disposition fee revenue	$	3,493			$	995		$	4,350		$	—		$	—		$	851	$	9,689
Acquisition expense reimbursements	$	241			$	240		$	21		$	44		$	25		$	—	$	571
Asset management fee revenue	$	—			$	—		$	—		$	—		$	—		$	226	$	226
Property management and leasing fee revenue	$	—			$	—		$	—		$	—		$	—		$	195	$	195
Operating expense reimbursement revenue	$	1,690			$	244		$	339		$	245		$	—		$	—	$	2,518
Advisory and performance fee revenue	$	7,384			$	757		$	1,557		$	1,196		$	284		$	—	$	11,178
	Period from 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
Acquisition expense reimbursements	$	236			$	17		$	55		$	—		$	—		$	—	$	308
Asset management fee revenue	$	—			$	—		$	—		$	—		$	—		$	151	$	151
Property management and leasing fee revenue	$	—			$	—		$	—		$	—		$	—		$	290	$	290
Operating expense reimbursement revenue	$	829			$	—		$	374		$	—		$	—		$	—	$	1,203
Advisory and performance fee revenue	$	2,564			$	—		$	2,595		$	26		$	108		$	—	$	5,293
Investment in the Managed REITs
As of March 31, 2015, the Company owned aggregate equity investments of $3.7 million in 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. The Company records its proportionate share of net income from the Managed REITs within the Other income, net line item in the consolidated statement of operations. During the three months ended March 31, 2015, the Company recognized $44,000 net loss from the Managed REITs. During the three months ended March 31, 2014, the Company recognized $0.7 million of net loss from the Managed REITs.
The table below presents certain information related to the Company’s investments in the Managed REITs as of March 31, 2015 (carrying amount in thousands):
	March 31, 2015
Managed REIT	% of Outstanding Shares Owned			Carrying Amount of Investment
CCPT IV	0.01	%		$	128
CCPT V	0.11	%		1,809
CCIT II	1.11	%		1,586
INAV	0.18	%		150
				$	3,673
Due from Affiliates
As of March 31, 2015 and December 31, 2014, $58.5 million and $86.1 million, respectively, 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. The Company had a balance of $8.3 million due from the Managed REITs as of March 31, 2015 for services provided by the Company and expected to reimbursed in accordance with the their respective advisory and property management agreements which was included in due from affiliates on the accompanying consolidated balance sheets.
In connection with the Cole Merger, the Company acquired 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 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 year ended December 31, 2014, the Company increased the available borrowings under the revolving lines of credit for each of CCPT V and CCIT II to $60.0 million. During the year ended December 31, 2014, CCIT II and CCPT V borrowed $30.0 million and $20.0 million, respectively, on their lines of credit. These amounts remained outstanding as of March 31, 2015 and are included in due from affiliates in the accompanying consolidated balance sheets.
On December 16, 2014, the Company and Cole Real Estate Income Strategy (Daily NAV) Operating Partnership, LP; INAV’s operating partnership, entered into a revolving line of credit agreement that provides for a principal borrowing amount of $20.0 million to INAV. The agreement bears an interest rate equal to one-month LIBOR plus 2.45% and matures on December 15, 2015. During the three months ended March 31, 2015, INAV drew $10.0 million on its line of credit; however, INAV repaid the entire balance during the period.

Net_Loss_Per_ShareUnit

Net Loss Per Share/Unit	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Net Loss Per Share/Unit	Net Loss Per Share/Unit
	The General Partner’s unvested shares of restricted stock 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 is not allocated losses as the awards do not have a contractual obligation to share in losses of ARCP. 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.
	Net Loss Per Share
	The following is a summary of the basic and diluted net loss per share computation for ARCP for the three months ended March 31, 2015 and 2014 (dollar amounts in thousands, except for share and per share data):
		Three Months Ended March 31,
		2015			2014
	Net loss attributable to the Company	$	(29,970	)	$	(291,444	)
	Less: dividends to preferred shares and participating securities	17,978			23,432
	Net loss attributable to common stockholders	$	(47,948	)	$	(314,876	)
	Weighted average number of common shares outstanding - basic and diluted	902,996,270			547,470,457
	Basic and diluted net loss per share from continuing operations attributable to common stockholders	$	(0.05	)	$	(0.58	)
	As of March 31, 2015, approximately 23.8 million OP Units outstanding, which are convertible into an equal number of shares of common stock, and approximately 1.9 million unvested restricted shares of common stock were excluded from the calculation of diluted net loss per share as the effect would have been antidilutive.
	Net Loss Per Unit
	The following is a summary of the basic and diluted net loss per unit computation for the OP for the three months ended March 31, 2015 and 2014 (dollar amounts in thousands, except for unit and per unit data):
		Three Months Ended March 31,
		2015			2014
	Net loss from continuing operations attributable to the Operating Partnership	$	(30,873	)	$	(305,648	)
	Less: dividends to preferred units and participating securities	17,978			23,432
	Net loss attributable to common unitholders	$	(48,851	)	$	(329,080	)
	Weighted average number of common units outstanding - basic and diluted	926,760,067			572,457,009
	Basic and diluted net loss from continuing operations per unit attributable to common unitholders	$	(0.05	)	$	(0.57	)
	As of March 31, 2015, approximately 1.9 million shares of unvested restricted units outstanding were excluded from the calculation of diluted net loss per unit as the effect would have been antidilutive.

Property_Dispositions

Property Dispositions	3 Months Ended
	Mar. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Property Dispositions	Property Dispositions
	During the three months ended March 31, 2015 and 2014, the Company disposed of eight and 16 single-tenant properties and three and one multi-tenant properties, respectively, for an aggregate gross sales price of $271.8 million and $60.3 million, respectively. During the three months ended March 31, 2015, the Company also had one property that had been foreclosed upon with a prior net book value of $38.2 million. No disposition fees were paid to affiliates in connection with the sale of the properties and the Company has no continuing involvement with these properties. The results of operations and the related loss on sale of real estate is included in loss on disposition of real estate, net in the consolidated statements of operations for all periods presented.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes
	As a REIT, the General Partner generally is not subject to federal income tax, with the exception of its TRS entities. However, the General Partner, including its TRS entities, and the Operating Partnership are still subject to certain state and local income and franchise taxes in the various jurisdictions in which they operate.
	Based on the above, Cole Capital’s business, substantially all of which is conducted through a TRS structure, recognized a provision of $0.2 million for the three months ended March 31, 2015, which is included in (provision for) benefit from income and franchise taxes in the accompanying consolidated statement of operations. A $6.2 million benefit was recognized for the three months ended March 31, 2014. The difference in the provision or benefit reflected in the accompanying consolidated statements of operations as compared to the provision or 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 a provision for three months ended March 31, 2015 and 2014 of $1.9 million and $1.1 million, respectively, which are included in (provision for) benefit from income and franchise taxes in the accompanying consolidated statements of operations.
	The Company had no unrecognized tax benefits as of or during the three months ended March 31, 2015 and 2014. Any interest and penalties related to unrecognized tax benefits would be recognized within the (provision for) benefit from income and franchise taxes in the accompanying consolidated statements of operations. The Company files income tax returns in the U.S. federal jurisdiction, various U.S. state jurisdictions and various Canadian 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

Subsequent Events	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events
	The following events occurred subsequent to March 31, 2015:
	Completion of Acquisition of Assets
	The following table presents certain information about the properties that the Company acquired from April 1, 2015 to May 5, 2015 (dollar amounts and square footage in thousands):
			No. of Buildings	Approximate Square Feet	Purchase Price (1)
	Total portfolio – March 31, 2015		4,647	102,133	$	17,610,187
	Acquisitions, including two land parcels		3	8	2,546
	Total portfolio – May 5, 2015		4,650	102,141	$	17,612,733
	____________________________________
	-1	Contract purchase price, excluding acquisition and transaction related costs.
	Credit Facility Repayments
	Subsequent to March 31, 2015, the Company made debt repayments on the revolving credit facility portion of the Credit Facility totaling $590.0 million. As discussed within Note 10 – Debt, the Credit Facility allows for total maximum borrowings of $3.6 billion, consisting of a $1.0 billion term loan and a $2.6 billion revolving credit facility. As of May 5, 2015, the outstanding balance on the Credit Facility was $2.6 billion.
	Canceled 2014 Multi-Year Outperformance Plan
	The Compensation Committee elected to terminate the 2014 OPP on April 23, 2015, which had zero LTIP Units outstanding following the fourth quarter 2014 departures of the four former executives that had participated in the 2014 OPP. During the first quarter of 2015, the Compensation Committee (the “Compensation Committee”) of the Company’s board of directors, with input from its independent compensation consultant, elected to adopt a long-term incentive award structure whereby two-thirds of the annual long-term incentive awards for executive officers would be performance-based and earned based on the Company’s total shareholder return performance 100% relative to its peers. The initiated grants under the long term incentive award structure were made in the form of restricted stock units, independent of the 2014 OPP, and were granted subsequent to March 31, 2015.
	Litigation Matters
	With respect to the SDNY Consolidated Securities Class Action, as described within Note 13 – Commitments and Contingencies, the lead plaintiff filed an amended class action complaint on April 17, 2015, which asserts claims for violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 and Sections 10(b), 14(a) and 20(a) of the Securities Exchange Act of 1934 and Rules 10b-5 and 14a-9 promulgated thereunder, arising out of allegedly false and misleading statements in connection with the purchase or sale of the Company’s securities. The proposed class period under the amended complaint runs from September 7, 2011 to October 29, 2014.
	With respect to the Wunsch Securities Action, on April 15, 2015, the action was transferred to the United States District Court for the Southern District of New York. The Wunsch Securities Action asserts claims for violations of Sections 11 and 15 of the Securities Act of 1933, arising out of allegedly false and misleading statements made in connection with the Company’s securities issued in connection with the Cole Merger. The Company is not yet required to respond to the complaint in the Wunsch Securities Action.
	With respect to the New York Derivative Action, the parties to the New York Derivative Action have agreed to set a deadline of May 8, 2015 for the plaintiff to file an amended complaint and setting a deadline of June 15, 2015 for the Company and defendants to respond to the amended complaint in the action.
	With respect to the Jet Capital Action, on April 17, 2015, the plaintiffs filed an amended complaint. The Company and defendants are required to respond to the amended complaint in the Jet Capital Action on the same schedule set by the court for the SDNY Consolidated Securities Class Action.
	Equity Awards
	Subsequent to March 31, 2015, the Company granted approximately 2.2 million restricted stock units with market and service conditions to employees, including executive officers.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Accounting	The consolidated financial statements of the Company included herein include the accounts of ARCP and its consolidated subsidiaries, including the Operating Partnership. All intercompany amounts have been eliminated. The financial statements are prepared on the accrual basis of accounting in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”).
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation
	The consolidated financial statements include the accounts of the Company and its subsidiaries and consolidated joint venture arrangements. 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 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. Further, 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 both March 31, 2015 and December 31, 2014, there were approximately 23.8 million Limited Partner Common OP Units outstanding. All intercompany accounts and transactions have been eliminated in consolidation.
	In determining whether the Company has a controlling financial interest in a joint venture and the requirement to consolidate the accounts of that entity, management considers factors such as ownership interest, authority to make decisions and contractual and substantive participating rights of the other partners or members as well as whether the entity is a variable interest entity of which the Company is the primary beneficiary.
	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 it earns from certain of its relationships and investments. If the Company determines that it holds 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 the Company 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 consolidated 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.
Reclassification	Reclassification
	The other debt balance from prior year has been combined in the consolidated balance sheets and consolidated statements of cash flows into the captions mortgage notes payable and other debt, net and payments on mortgage notes payable and other debt, respectively. Additionally, state property income and franchise taxes previously included in general and administrative expenses and federal and state income taxes previously included in other income, net have been combined into the caption (provision for) benefit from income and franchise taxes in the consolidated statements of operations.
Assets Held for Sale	Assets Held for Sale
	The Company classifies real estate investments as held for sale in accordance with U.S. GAAP. Assets held for sale are recorded at the lower of carrying value or estimated fair value, less estimated cost to dispose of the assets. As of March 31, 2015, no properties were classified as held for sale. As of December 31, 2014, two properties were classified as held for sale, which were sold during the three months ended March 31, 2015.
	If circumstances arise which the Company previously considered unlikely and, as a result, the Company decides not to sell a property previously classified as held for sale, the Company will reclassify the property as held and used. The Company measures and records a property that is reclassified as held and used at the lower of (i) its carrying amount before the property was classified as held for sale, adjusted for any depreciation expense that would have been recognized had the property been continuously classified as held and used or (ii) the estimated fair value at the date of the subsequent decision not to sell. Upon classifying an asset as held for sale, the Company will no longer recognize depreciation expense related to the depreciable assets of the property.
Goodwill	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 merger with CapLease Inc. (“CapLease”) and certain subsidiaries of each company on November 5, 2013 (the “CapLease Merger”) and the Cole Merger 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 property in determining the gain or loss on the disposal of the property. The amount of goodwill allocated to the property will be based on the relative fair value of the property to the fair value of the reporting unit. The Company generally estimates the relative fair value by utilizing rental income on a straight line basis as an indication of the relative fair value. The REI segment and Cole Capital segment each comprise one reporting unit. Future property acquisitions that constitute a business will be integrated in the REI segment and therefore will also be allocated goodwill upon disposition.
Impairments	Impairments
	Real Estate Assets
	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate assets may not be recoverable. Impairment indicators that the Company considers include, but are not limited to, bankruptcy or other credit concerns of a property’s major tenant, such as a history of late payments, rental concessions and other factors, a significant decrease in a property’s revenues due to lease terminations, vacancies, co-tenancy clauses, reduced lease rates or other circumstances. When indicators of potential impairment are present, the Company assesses the recoverability of the assets by determining whether the carrying amount of the assets will be recovered through the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the real estate assets to their respective fair values and recognize an impairment loss. Generally, fair value is determined using a discounted cash flow analysis and recent comparable sales transactions or market rent assumptions. When developing estimates of expected future cash flows, the Company makes certain assumptions regarding future market rental income amounts subsequent to the expiration of current lease agreements, property operating expenses, terminal capitalization and discount rates, the expected number of months it takes to release the property, required tenant improvements and the number of years the property will be held for investment. The use of alternative assumptions in estimating expected future cash flows could result in a different determination of the property’s expected future cash flows and a different conclusion regarding the existence of an impairment, the extent of any loss resulting from such impairment, if any, as well as the fair value of the real estate assets.
	The Company identified certain properties during the three months ended March 31, 2015 and 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 recorded.
	Goodwill
	The Company evaluates 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 tests goodwill for impairment by first comparing the carrying value of net assets to the fair value of each reporting unit. If the fair value is determined to be less than the carrying 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 estimates 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. During the three months ended March 31, 2015, management monitored the actual performance of the business segments relative to the fair value assumptions used during our annual goodwill impairment test. For the periods presented, no triggering events were identified.
	Intangible Assets
	The Company evaluates intangible assets, which primarily consist of dealer manager and advisory contracts with the Managed REITs, for impairment when an event occurs or circumstances change that indicate the carrying value may not be recoverable. The Company tests intangible assets for impairment by first comparing the carrying value of the asset group to the undiscounted future cash flows expected from the use of the assets and their eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying amount, the Company will adjust the intangible assets to their respective fair values and recognize an impairment loss. The Company will estimate the fair value of the intangible assets using a discounted cash flow model specific to the Managed REITs that were included in the initial value of the intangible assets as of February 7, 2014 (the “Cole Acquisition Date”). The evaluation of intangible assets 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. There were no events or changes in circumstances that indicated that intangible assets were impaired during the three months ended March 31, 2015 or 2014.
	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.
Cash and Cash Equivalents	Cash and Cash Equivalents
	Cash and cash equivalents include cash in bank accounts, as well as investments in highly-liquid money market funds with original maturities of three months or less. The Company deposits cash with high quality financial institutions. These deposits are guaranteed by the Federal Deposit Insurance Company (“FDIC”) up to an insurance limit.
Revenue Recognition	Revenue Recognition
	Upon the acquisition of real estate, certain properties have leases where minimum rent payments change during the term of the lease. The Company records rental revenue for the full term of each lease on a straight-line basis. When the Company acquires a property, the term of each existing lease is considered to commence as of the acquisition date for the purposes of this calculation. Cost recoveries from tenants are included in tenant reimbursement income in the period the related costs are incurred, as applicable.
	The Company’s revenues, which are derived primarily from rental income, include rents that each tenant pays in accordance with the terms of each lease reported on a straight-line basis over the initial term of the lease. Since many of the leases provide for rental increases at specified intervals, straight-line basis accounting requires the Company to record a receivable, and include in revenues, unbilled rent receivables that the Company will only receive if the tenant makes all rent payments required through the expiration of the initial term of the lease. Straight-line rent receivables are included in prepaid expenses and other assets on the consolidated balance sheets. See Note 8 – Deferred Costs and Other Assets, Net. The Company defers the revenue related to lease payments received from tenants in advance of their due dates. As of March 31, 2015 and December 31, 2014, the Company had $67.7 million and $57.8 million, respectively, of deferred rental income, which is included in deferred rent and other liabilities on the consolidated balance sheets.
	The Company continually reviews receivables related to rent and unbilled rent receivables and determines collectability by taking into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. In the event that the collectability of a receivable is in doubt, the Company will record an increase in the allowance for uncollectible accounts or record a direct write-off of the receivable in the consolidated statements of operations and comprehensive loss.
Program Development Costs	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 agreements and charters. Such expenses paid by the Company on behalf of the Managed REITs in excess of these limits that are expected to be collected based on future expected offering proceeds 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 offerings and reserves for any balances considered not collectible. As of March 31, 2015 and December 31, 2014, the Company had organization and offering costs of $16.3 million and $12.9 million, respectively, which were net of reserves of $15.8 million and $13.1 million, respectively. Such amounts had been paid on behalf of the Managed REITs in excess of the applicable limits and are expected to be collected in future periods and have been 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	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. Acquisition related expenses include legal and other transaction related costs incurred in connection with self-originated acquisitions including purchases of portfolios. In addition, indirect costs, such as internal salaries, that are tracked and documented in a manner that clearly indicates 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 (which are not accounted for as acquisitions) are included in the caption “merger and other non-routine transactions.” Other non-routine transaction costs are also presented within the line item merger and other non-routine transactions in the consolidated statements of operations and comprehensive loss.
Income Taxes	Income Taxes
	ARCP 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, ARCP 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 ARCP maintains its qualification for taxation as a REIT, it may be subject to certain state and local taxes on its income and property, federal income taxes on certain income and excise taxes on its undistributed income.
	The Operating Partnership is classified as a partnership for federal income tax purposes. As a partnership, the Operating Partnership is not a taxable entity for federal income tax purposes. Instead, each partner in the Operating Partnership is required to take into account its allocable share of the Operating Partnership’s income, gains, losses, deductions and credits for each taxable year. However, the Operating Partnership may be subject to certain state and local taxes on its income and property.
	As of March 31, 2015, the Operating Partnership and ARCP had no material uncertain income tax positions. The tax years subsequent to and including the fiscal year ended December 31, 2010 remain open to examination by the major taxing jurisdictions to which the Operating Partnership, ARCP, American Realty Capital Trust III, Inc. (“ARCT III”), CapLease, ARCT IV, Cole and Cole Credit Property Trust, Inc. are subject.
	Under the LPA, the Operating Partnership is to conduct business in such a manner as to permit ARCP at all times to qualify as a REIT.
	The Company conducts substantially all of its Cole Capital business operations through a TRS structure. 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 Canada and, as a result, it files income tax returns in the U.S. federal jurisdiction, Canadian 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In May 2014, the U.S. Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update, (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes the revenue recognition requirements in Revenue Recognition (Topic 605) and requires an entity to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and allows for either full retrospective adoption or modified retrospective adoption, with early application not permitted. The Company is currently evaluating the impact of the new standard on its financial statements.
	In February 2015, FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”), which eliminates the deferral of FAS 167, modifies the evaluation of whether limited partnerships and similar legal entities are variable or voting interest entities, eliminates the presumption that the general partner should consolidate a limited partnership, modifies the consolidation analysis for reporting entities that are involved with variable interest entities, particularly those that have fee arrangements and related party relationships, and provides a scope exception for reporting entities with interests in legal entities that operate as registered money market funds. These changes will require re-evaluation of the consolidation conclusion for certain entities and will require the Company to revise its analysis regarding the consolidation or deconsolidation of such entities. ASU 2015-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, with early adoption permitted. Companies may elect to apply the amendments in ASU 2015-02 using a modified retrospective approach or by applying the amendments retrospectively. The Company is currently evaluating the impact of the new standard on its financial statements.
	In April 2015, FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The update requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability rather than presenting as an asset, a deferred charge. The previous requirement to recognize debt issuance costs as deferred charges conflicts with the guidance in FASB Concepts Statement No. 6, “Elements of Financial Statements,” which states that debt issuance costs are similar to debt discounts and in effect reduce the proceeds of borrowing, thereby increasing the effective interest rate. FASB Concepts Statement No. 6 further states that debt issuance costs cannot be an asset because they provide no future economic benefit. After the update is adopted, debt disclosures will include the face amount of the debt liability and the effective interest rate. ASU 2015-03 is effective for fiscal years beginning after December 15, 2015, and is to be applied retrospectively, with early adoption permitted. The Company is currently evaluating the impact of this new standard on its consolidated financial statements.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
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,
		2015		2014
	Merger related costs:
	Strategic advisory services	$	—	$	34,936
	Transfer taxes	—		5,109
	Legal fees and expenses	—		2,984
	Personnel costs and other reimbursements	—		751
	Other fees and expenses	—		1,330
	Other non-routine costs:
	Post-transaction support services	—		14,251
	Subordinated distribution fee	—		78,244
	Audit Committee Investigation and related litigation	15,316		—
	Furniture, fixtures and equipment	—		14,085
	Legal fees and expenses	475		1,826
	Personnel costs and other reimbursements	—		2,443
	Other fees and expenses	632		4,339
	Total	$	16,423	$	160,298

Segment_Reporting_Tables

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2015
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,
		2015			2014
	REI segment:
	Revenues:
	Rental income	$	342,759		$	244,415
	Direct financing lease income	741			1,006
	Operating expense reimbursements	22,974			21,476
	Total real estate investment revenues	366,474			266,897
	Operating expenses:
	Acquisition related	1,723			13,417
	Merger and other non-routine transactions	16,423			159,794
	Property operating	30,999			29,755
	Management fees to affiliates	—			13,888
	General and administrative	15,370			34,538
	Depreciation and amortization	210,788			159,483
	Total operating expenses	275,303			410,875
	Operating income (loss)	91,171			(143,978		)
	Other (expense) income:
	Interest expense, net	(95,699		)	(120,951		)
	Extinguishment of debt, net	429			(9,399		)
	Other income, net	7,742			3,959
	Loss on derivative instruments, net	(1,028		)	(7,121		)
	Loss on disposition of real estate, net	(31,368		)	(17,605		)
	Total other expenses, net	(119,924		)	(151,117		)
	Loss before income and franchise taxes	(28,753		)	(295,095		)
	Provision for income and franchise taxes	(1,854		)	(1,123		)
	Net loss	$	(30,607	)	$	(296,218	)
		Three Months Ended March 31,
		2015			2014
	Cole Capital segment:
	Revenues:
	Dealer manager and distribution fees, selling commissions and offering reimbursements	$	3,117		$	42,453
	Transaction service fees and reimbursements	10,260			4,867
	Management fees and reimbursements	14,117			6,937
	Total Cole Capital revenues	27,494			54,257
	Operating expenses:
	Cole Capital reallowed fees and commissions	2,031			34,436
	Acquisition related	459			—
	Merger and other non-routine transactions	—			504
	General and administrative expenses	17,736			20,831
	Depreciation and amortization	8,353			14,359
	Total operating expenses	28,579			70,130
	Operating loss	(1,085		)	(15,873		)
	Total other income	1,219			16
	Income (loss) before income and franchise taxes	134			(15,857		)
	(Provision for) benefit from income and franchise taxes	(220		)	6,235
	Net loss	$	(86	)	$	(9,622	)
	Total Company:
	Total revenues	$	393,968		$	321,154
	Total operating expenses	$	303,882		$	481,005
	Total other expense	$	(118,705	)	$	(151,101	)
	Net loss	$	(30,693	)	$	(305,840	)
			Total Assets
			March 31, 2015			December 31, 2014
	REI segment		$	19,598,152		$	19,821,440
	Cole Capital		723,876			693,699
	Total Company		$	20,322,028		$	20,515,139

Goodwill_Tables

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table summarizes the Company’s goodwill activity during the three months ended March 31, 2015 by segment (in thousands):
			REI Segment			Cole Capital Segment		Consolidated
	Balance as of December 31, 2014		$	1,509,396		$	385,398	$	1,894,794
	Goodwill allocated to dispositions (1)		(23,680		)	—		(23,680		)
	Balance as of March 31, 2015		$	1,485,716		$	385,398	$	1,871,114
	_______________________________________________
	-1	Goodwill allocated to the cost basis of properties sold and is included in loss on disposition of real estate, net, in the consolidated statement of operations.

Real_Estate_Investments_Tables

Real Estate Investments (Tables)	3 Months Ended
	Mar. 31, 2015
Real Estate [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table presents the preliminary allocation of the fair values of the assets acquired and liabilities assumed during the periods presented (dollar amounts in thousands):
			Three Months Ended March 31,
			2015			2014
	Real estate investments, at cost:
	Land		$	1,594		$	133,903
	Buildings, fixtures and improvements		3,980			552,114
	Land and construction in progress		1,637			142,821
	Total tangible assets		7,211			828,838
	Acquired intangible assets:
	In-place leases		416			120,421
	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		7,627			936,073
	Mortgage notes payable assumed		—			(301,532		)
	Cash paid for acquired real estate investments		$	7,627		$	634,541
	Number of properties acquired		10			215
Business Acquisition, Pro Forma Information
			Three Months Ended March 31,
			2015			2014
	Pro forma revenues		$	394,009		$	321,254
	Pro forma net loss		$	(28,939	)	$	(307,540	)
Schedule of Future Minimum Rental Payments Receivable for Operating And Capital Leases	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 Operating Lease			Future Minimum
			Base Rent Payments			Direct Financing Lease Payments (1)
	April 1, 2015 - December 31, 2015		$	925,015		$	3,520
	2016		1,243,671			4,674
	2017		1,212,172			4,273
	2018		1,175,562			3,183
	2019		1,134,958			2,397
	Thereafter		10,062,184			7,916
	Total		$	15,753,562		$	25,963
	____________________________________
	-1	39 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 Capital Leased Assets	The components of the Company’s net investment in direct financing leases as of March 31, 2015 and December 31, 2014 are as follows (in thousands):
			March 31, 2015			December 31, 2014
	Future minimum lease payments receivable		$	25,963		$	27,199
	Unguaranteed residual value of property		38,178			39,852
	Unearned income		(9,319		)	(10,975		)
	Net investment in direct financing leases		$	54,822		$	56,076

Investment_Securities_at_Fair_1

Investment Securities, at Fair Value (Tables)	3 Months Ended
	Mar. 31, 2015
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, 2015 and December 31, 2014 (in thousands):
		March 31, 2015
		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	CMBS	$	53,510	$	3,190	$	(207	)	$	56,493
		December 31, 2014
		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	CMBS	$	56,459	$	2,207	$	(20	)	$	58,646
Available-for-sale Securities	The scheduled maturity of the Company’s CMBS as of March 31, 2015 is as follows (in thousands):
		March 31, 2015
		Amortized Cost		Fair Value
	Due within one year	$	—	$	—
	Due after one year through five years	1,544		1,657
	Due after five years through 10 years	46,190		48,867
	Due after 10 years	5,776		5,969
		$	53,510	$	56,493

Loans_Held_for_Investment_Tabl

Loans Held for Investment (Tables)	3 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
Composition of loans held for investment	The following table presents the composition of the loans held for investment as of March 31, 2015 (dollars in thousands):
			Loans held for investment	Carrying Amount		Weighted-Average Interest Rate (1)		Weighted-Average Years to Maturity (2)
	Mortgage notes secured by real estate assets		12	$	26,057	5.1	%	13.8
	Unsecured note with RCAP		1	15,300		8	%	2
	Total		13	$	41,357	6.1	%	9.6
	____________________________________
	-1	The interest rates on the loans secured by real estate range from 5.11% to 7.24%, as of March 31, 2015.
	-2	The loans secured by real estate have maturity dates ranging from August 31, 2015 to January 1, 2033.

Deferred_Costs_and_Other_Asset1

Deferred Costs and Other Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2015
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, 2015 and December 31, 2014 (in thousands):
			March 31, 2015		31-Dec-14
	Deferred costs, net		$	118,294	$	126,202
	Accounts receivable, net (1)		65,997		66,021
	Straight-line rent receivable		111,760		89,355
	Prepaid expenses		16,706		15,171
	Leasehold improvements, property and equipment, net (2)		20,565		21,351
	Restricted escrow deposits		29,909		34,339
	Deferred tax asset and tax receivable		17,011		15,924
	Program development costs, net		16,322		12,871
	Derivative assets, at fair value		1,251		5,509
	Other assets		3,069		3,179
			$	400,884	$	389,922
	___________________________________
	-1	Allowance for doubtful accounts was $3.2 million and $2.5 million as of March 31, 2015 and December 31, 2014, respectively.
	-2	Amortization expense for leasehold improvements totaled $0.4 million for the three months ended March 31, 2015. Accumulated amortization was $1.6 million and $1.2 million as of March 31, 2015 and December 31, 2014, respectively. Depreciation expense for property and equipment totaled $0.5 million for the three months ended March 31, 2015. Accumulated depreciation was $2.1 million and $1.6 million as of March 31, 2015 and December 31, 2014, respectively.

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014, aggregated by the level in the fair value hierarchy within which those instruments fall (in thousands):
			Level 1				Level 2				Level 3				Balance as of
															31-Mar-15
	Assets:
	CMBS		$	—			$	—			$	56,493			$	56,493
	Interest rate swap assets		—				1,251				—				1,251
	Total assets		$	—			$	1,251			$	56,493			$	57,744
	Liabilities:
	Interest rate swap liabilities		$	—			$	(11,754	)		$	—			$	(11,754	)
			Level 1				Level 2				Level 3				Balance as of December 31, 2014
	Assets:
	CMBS		$	—			$	—			$	58,646			$	58,646
	Interest rate swap assets		—				5,509				—				5,509
	Total assets		$	—			$	5,509			$	58,646			$	64,155
	Liabilities:
	Interest rate swap liabilities		$	—			$	(7,384	)		$	—			$	(7,384	)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following are reconciliations of the changes in assets and (liabilities) with Level 3 inputs in the fair value hierarchy for the three months ended March 31, 2015 and 2014 (in thousands):
			CMBS
	Beginning Balance, December 31, 2014		$	58,646
	Total gains and losses:
	Unrealized gain included in other comprehensive income, net		796
	Purchases, issuances, settlements and amortization:
	Principal payments received		(2,949		)
	Ending Balance, March 31, 2015		$	56,493
			CMBS				Series D Preferred Stock Embedded Derivative				Contingent Consideration				Total
											Arrangements
	Balance, 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 loss		—				(9,998		)		(1,297		)		(11,295		)
	Purchases, issuances, settlements and amortization:
	Fair value at purchase/issuance		151,197				—				(3,606		)		147,591
	Amortization included in net loss		(2,573		)		—				—				(2,573		)
	Ending Balance, 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 March 31, 2015				Fair Value at March 31, 2015				Carrying Amount at December 31, 2014				Fair Value at December 31, 2014
	Assets:
	Loans held for investment		3		$	41,357			$	45,931			$	42,106			$	42,645
	Liabilities:
	Mortgage notes payable and other debt, net (1)		3		$	3,672,496			$	3,823,633			$	3,805,761			$	3,931,029
	Corporate bonds, net		3		2,546,701				2,468,500				2,546,499				2,709,845
	Convertible debt, net		3		978,769				980,519				977,521				1,088,069
	Credit facilities		3		3,184,000				3,167,452				3,184,000				3,145,884
	Total liabilities				$	10,381,966			$	10,440,104			$	10,513,781			$	10,874,827
	___________________________________
	-1	The December 31, 2014 amounts include “other debt” to conform with current presentation.

Debt_Tables

Debt (Tables)	3 Months Ended
	Mar. 31, 2015
Mortgage Loans on Real Estate [Line Items]
Schedule of Debt	The following table summarizes the carrying value of debt as of March 31, 2015 and December 31, 2014, and the debt activity for the three months ended March 31, 2015 (in thousands):
								Three Months Ended March 31, 2015
				Balance as of December 31, 2014				Debt Issuances				Repayments, Extinguishment and Assumptions				Accretion and (Amortization)			Balance as of March 31, 2015
	Mortgage notes payable:
		Outstanding balance		$	3,689,796			$	1,158			$	(131,779	)		$	—		$	3,559,175
		Net premiums (1)		70,139				—				—				2,748			72,887
	Other debt:
		Outstanding balance		45,325				—				(5,327		)		—			39,998
		Premium (1)		501				—				—				(65		)	436
	Mortgages and other debt, net			3,805,761				1,158				(137,106		)		2,683			3,672,496
	Corporate bonds:
		Outstanding balance		2,550,000				—				—				—			2,550,000
		Discount (2)		(3,501		)		—				—				202			(3,299		)
	Corporate bonds, net			2,546,499				—				—				202			2,546,701
	Convertible debt:
		Outstanding balance		1,000,000				—				—				—			1,000,000
		Discount (2)		(22,479		)		—				—				1,248			(21,231		)
	Convertible debt, net			977,521				—				—				1,248			978,769
	Credit facility:
		Outstanding balance		3,184,000				—				—				—			3,184,000
	Total debt			$	10,513,781			$	1,158			$	(137,106	)		$	4,133		$	10,381,966
	____________________________________
	-1	Net premiums on mortgages notes payable and other debt were recorded upon the assumption of the respective debt instruments in relation to the various mergers and acquisitions. Amortization of these net premiums is recorded as a reduction to interest expense over the remaining term of the respective debt instruments using the effective-interest method.
	-2	Discounts on the corporate bonds and convertible debt were recorded based upon the fair value of the respective debt instruments as of the respective issuance dates. Amortization of these discounts is recorded as an increase to interest expense over the remaining term of the respective debt instruments using the effective-interest method.
Mortgage Notes Payable [Member]
Mortgage Loans on Real Estate [Line Items]
Schedule of Mortgage Notes Payable	The Company’s mortgage notes payable consist of the following as of March 31, 2015 (dollar amounts in thousands):
			Encumbered Properties			Gross Carrying Value of Collateralized Properties (1)				Outstanding Balance				Weighted-Average			Weighted-Average Years to Maturity
														Interest Rate (2)
	Fixed-rate debt (3)		746			$	6,535,095			$	3,551,224			4.96	%		7
	Variable-rate debt		1			24,664				7,951				3.12	%		1.4
	Total		747			$	6,559,759			$	3,559,175			4.96	%		7
	____________________________________
	-1	Gross carrying value is gross real estate assets, net of gross real estate liabilities.
	-2	Weighted-average interest rate for variable-rate debt represents the interest rate in effect as of March 31, 2015.
	-3	Includes $285.2 million of variable-rate debt fixed by way of interest rate swap arrangements.
Schedule of Aggregate Principal Payments of Mortgages	The following table summarizes the scheduled aggregate principal repayments due on mortgage notes and other debt subsequent to March 31, 2015 (in thousands):
			Total
	2015		$	62,577
	2016		264,332
	2017		465,583
	2018		233,420
	2019		295,956
	Thereafter		2,277,305
	Total		$	3,599,173
Other Debt [Member]
Mortgage Loans on Real Estate [Line Items]
Schedule of Debt	The following table is a summary of borrowings and carrying value of the collateral by asset type as of March 31, 2015 (in thousands):
			Borrowings				Collateral Carrying Value
	Loans held for investment		$	11,051			$	20,966
	Intercompany mortgage loans on CapLease properties		3,091				10,926
	CMBS		25,856				40,866
			$	39,998			$	72,758
Corporate Bonds [Member]
Mortgage Loans on Real Estate [Line Items]
Schedule of Debt	The following table presents the three senior notes with their respective terms (dollar amounts in thousands):
			Outstanding Balance				Interest Rate			Maturity Date
	2017 Senior Notes		$	1,300,000			2	%		February 6, 2017
	2019 Senior Notes		750,000				3	%		February 6, 2019
	2024 Senior Notes		500,000				4.6	%		February 6, 2024
	Total balance and weighted-average interest rate		$	2,550,000			2.8	%
Convertible Senior Debt [Member]
Mortgage Loans on Real Estate [Line Items]
Schedule of Debt	The following table presents the two convertible notes with their respective terms (dollar amounts in thousands):
			Outstanding Balance				Interest Rate			Conversion Rate (1)		Maturity Date
	2018 Convertible Notes		$	597,500			3	%		60.5997		August 1, 2018
	2020 Convertible Notes		402,500				3.75	%		66.7249		December 15, 2020
	Total balance and weighted-average interest rate		$	1,000,000			3.3	%
	____________________________________
	-1	Conversion rate represents the amount of the General Partner OP Units per $1,000 principal amount.

Derivatives_and_Hedging_Activi1

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2015
Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Schedule of Interest Rate Derivatives	As of March 31, 2015, 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
		Instruments
	Interest rate swaps	17		$	1,248,814
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, 2015 and December 31, 2014 (in thousands):
	Derivatives Designated as Hedging Instruments	Balance Sheet Location		March 31, 2015				31-Dec-14
	Interest rate products	Deferred costs and other assets, net		$	1,251			$	4,941
	Interest rate products	Deferred rent, derivative and other liabilities		$	(11,721	)		$	(7,384	)
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, 2015 and 2014, respectively (in thousands):
		Three Months Ended March 31,
		2015				2014
	Derivatives in Cash Flow Hedging Relationships
	Amount of (loss) gain recognized in accumulated other comprehensive income on interest rate derivatives (effective portion)	$	(10,396	)		$	(3,839	)
	Amount of loss reclassified from accumulated other comprehensive income into income as interest expense (effective portion)	$	2,736			$	1,541
Not Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Schedule of Interest Rate Derivatives	As of March 31, 2015, the Company had the following outstanding interest rate derivative that was not designated as a qualifying hedging relationship (dollar amounts in thousands):
	Interest Rate Derivative	Number of Instruments		Notional Amount
	Interest rate swap	1		$	51,400
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 not designated as hedges as well as their classification on the consolidated balance sheets as of March 31, 2015 and December 31, 2014 (in thousands):
	Derivatives Not Designated as Hedging Instruments	Balance Sheet Location		March 31, 2015				31-Dec-14
	Interest rate products	Deferred costs and other assets, net		$	—			$	568
	Interest rate products	Deferred rent, derivative and other liabilities		$	(33	)		$	—
Offsetting Assets	The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the accompanying consolidated balance sheets (in thousands).
		Offsetting of Derivative Assets and Liabilities
		Gross Amounts of Recognized Assets				Gross Amounts of Recognized Liabilities				Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts of Assets Presented in the Consolidated Balance Sheets		Net Amounts of Liabilities Presented in the Consolidated Balance Sheets			Financial Instruments		Cash Collateral Received		Net Amount
	March 31, 2015	$	1,251			$	(11,754	)		$	—	$	1,251	$	(11,754	)	$	—	$	—	$	(10,503	)
	31-Dec-14	$	5,509			$	(7,384	)		$	—	$	5,509	$	(7,384	)	$	—	$	—	$	(1,875	)
Offsetting Liabilities	The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the accompanying consolidated balance sheets (in thousands).
		Offsetting of Derivative Assets and Liabilities
		Gross Amounts of Recognized Assets				Gross Amounts of Recognized Liabilities				Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts of Assets Presented in the Consolidated Balance Sheets		Net Amounts of Liabilities Presented in the Consolidated Balance Sheets			Financial Instruments		Cash Collateral Received		Net Amount
	March 31, 2015	$	1,251			$	(11,754	)		$	—	$	1,251	$	(11,754	)	$	—	$	—	$	(10,503	)
	31-Dec-14	$	5,509			$	(7,384	)		$	—	$	5,509	$	(7,384	)	$	—	$	—	$	(1,875	)

Accounts_Payable_and_Accrued_E1

Accounts Payable and Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2015
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accounts payable and accrued expenses consisted of the following as of March 31, 2015 and December 31, 2014 (in thousands):
		March 31, 2015		31-Dec-14
	Accrued other	$	64,508	$	58,807
	Accrued interest	39,191		56,558
	Accrued real estate taxes	44,828		37,633
	Accounts payable	11,602		10,027
		$	160,129	$	163,025

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	The following table reflects the minimum base rental cash payments due from the Company over the next five years and thereafter for certain ground lease obligations, which are substantially reimbursable by our tenants, and office lease obligations (in thousands):
		Future Minimum Base Rent Payments
		Ground Leases		Offices Leases
	April 1, 2015 - December 31, 2015	$	14,291	$	5,187
	2016	18,190		4,963
	2017	17,692		4,595
	2018	15,576		4,655
	2019	15,150		4,716
	Thereafter	247,837		18,412
	Total	$	328,736	$	42,528

Equitybased_Compensation_Table

Equity-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Activity	The following table details the unvested restricted share award activity within the Equity Plan during the three months ended March 31, 2015. There was no activity within the Director Stock Plan during the three months ended March 31, 2015.
		Equity Plan
		Shares of		Weighted-Average Issue Price
		Restricted Common Stock
	Unvested, December 31, 2014	2,684,062		$	13.84
	Vested	(494,774	)	13.98
	Forfeited	(265,886	)	13.71
	Unvested, March 31, 2015	1,923,402		$	13.83

Related_Party_Transactions_and1

Related Party Transactions and Arrangements (Tables)	3 Months Ended
	Mar. 31, 2015
Related Party Transaction [Line Items]
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,
		2015				2014
	Expenses and capitalized costs:
	Offering related costs	$	—			$	150
	Acquisition related expenses	—				1,539
	Merger and other non-routine transactions	—				137,738
	Management fees to affiliates	—				13,888
	General and administrative expenses	—				15,592
	Indirect affiliate expenses	—				498
	Total expenses and capitalized costs	$	—			$	169,405
	Cole Capital revenues:
	Cole Capital offering related revenue	$	3,117			$	42,453
	Cole Capital operating revenue	24,377				11,804
	Total Cole Capital revenues	$	27,494			$	54,257
Merger And Other Non-Routine Transactions [Member]
Related Party Transaction [Line Items]
Schedule of Related Party Transactions	The tables 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 and Other			Cole Merger			Multi-tenant 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
General and Administrative Expense [Member]
Related Party Transaction [Line Items]
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,
		2015				2014
	General and administrative expenses:
	Advisory fees and reimbursements	$	—			$	1,518
	Equity awards	—				14,074
	Total	$	—			$	15,592
Indirect Affiliate Expenses [Member]
Related Party Transaction [Line Items]
Schedule of Related Party Transactions	These expenses are depicted in the table below for the periods indicated (in thousands):
		Three Months Ended March 31,
		2015				2014
	Indirect affiliate expenses:
	Audrain building	$	—			$	405
	New York (405 Park Ave.) office	—				71
	Dresher, PA office	—				19
	North Carolina office	—				3
	Total	$	—			$	498
Offering Related Revenue [Member]
Related Party Transaction [Line Items]
Schedule of Related Party Transactions	The tables below reflect financial data for the three months ended March 31, 2015 and the period from the Cole acquisition to March 31, 2014 (in thousands):
		For the Three Months Ended March 31, 2015
		CCPT V				CCIT II			INAV			Total
	Offering:
	Selling commission revenue	$	536			$	1,226		$	13		$	1,775
	Selling commissions reallowance expense	$	(536	)		$	(1,226	)	$	(13	)	$	(1,775	)
	Dealer manager and distribution fee revenue	$	167			$	359		$	190		$	716
	Dealer manager and distribution fees reallowance expense	$	(61	)		$	(151	)	$	(44	)	$	(256	)
	Other expense reimbursement revenue	$	196			$	395		$	35		$	626
		Period from Cole Acquisition Date to March 31, 2014
		CCPT IV				CCPT V			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 and distribution fees reallowance expense	$	(4,864	)		$	—		$	(53	)	$	(2	)	$	(4,919	)
	Other expense reimbursement revenue	$	3,767			$	50		$	114		$	53		$	3,984
Operating Revenues [Member]
Related Party Transaction [Line Items]
Schedule of Related Party Transactions	The Company recorded fees and expense reimbursements as shown in the table below for services provided primarily to the Managed REITs and the CCIT disposition fees (as described above). The tables below reflect financial data for the three months ended March 31, 2015 and the period from the Cole Acquisition Date to March 31, 2014 (in thousands):
		For the Three Months Ended March 31, 2015
		CCPT IV				CCPT V			CCIT			CCIT II			INAV			Other		Total
	Operations:
	Acquisition and disposition fee revenue	$	3,493			$	995		$	4,350		$	—		$	—		$	851	$	9,689
	Acquisition expense reimbursements	$	241			$	240		$	21		$	44		$	25		$	—	$	571
	Asset management fee revenue	$	—			$	—		$	—		$	—		$	—		$	226	$	226
	Property management and leasing fee revenue	$	—			$	—		$	—		$	—		$	—		$	195	$	195
	Operating expense reimbursement revenue	$	1,690			$	244		$	339		$	245		$	—		$	—	$	2,518
	Advisory and performance fee revenue	$	7,384			$	757		$	1,557		$	1,196		$	284		$	—	$	11,178
		Period from 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
	Acquisition expense reimbursements	$	236			$	17		$	55		$	—		$	—		$	—	$	308
	Asset management fee revenue	$	—			$	—		$	—		$	—		$	—		$	151	$	151
	Property management and leasing fee revenue	$	—			$	—		$	—		$	—		$	—		$	290	$	290
	Operating expense reimbursement revenue	$	829			$	—		$	374		$	—		$	—		$	—	$	1,203
	Advisory and performance fee revenue	$	2,564			$	—		$	2,595		$	26		$	108		$	—	$	5,293
Investments In Managed Real Estate Investment Trusts [Member]
Related Party Transaction [Line Items]
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, 2015 (carrying amount in thousands):
		March 31, 2015
	Managed REIT	% of Outstanding Shares Owned			Carrying Amount of Investment
	CCPT IV	0.01	%		$	128
	CCPT V	0.11	%		1,809
	CCIT II	1.11	%		1,586
	INAV	0.18	%		150
					$	3,673

Net_Loss_Per_ShareUnit_Tables

Net Loss Per Share/Unit (Tables)	3 Months Ended
	Mar. 31, 2015
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 ARCP for the three months ended March 31, 2015 and 2014 (dollar amounts in thousands, except for share and per share data):
		Three Months Ended March 31,
		2015			2014
	Net loss attributable to the Company	$	(29,970	)	$	(291,444	)
	Less: dividends to preferred shares and participating securities	17,978			23,432
	Net loss attributable to common stockholders	$	(47,948	)	$	(314,876	)
	Weighted average number of common shares outstanding - basic and diluted	902,996,270			547,470,457
	Basic and diluted net loss per share from continuing operations attributable to common stockholders	$	(0.05	)	$	(0.58	)
	The following is a summary of the basic and diluted net loss per unit computation for the OP for the three months ended March 31, 2015 and 2014 (dollar amounts in thousands, except for unit and per unit data):
		Three Months Ended March 31,
		2015			2014
	Net loss from continuing operations attributable to the Operating Partnership	$	(30,873	)	$	(305,648	)
	Less: dividends to preferred units and participating securities	17,978			23,432
	Net loss attributable to common unitholders	$	(48,851	)	$	(329,080	)
	Weighted average number of common units outstanding - basic and diluted	926,760,067			572,457,009
	Basic and diluted net loss from continuing operations per unit attributable to common unitholders	$	(0.05	)	$	(0.57	)

Subsequent_Events_Tables

Subsequent Events (Tables)	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Schedule of Subsequent Events	The following table presents certain information about the properties that the Company acquired from April 1, 2015 to May 5, 2015 (dollar amounts and square footage in thousands):
			No. of Buildings	Approximate Square Feet	Purchase Price (1)
	Total portfolio – March 31, 2015		4,647	102,133	$	17,610,187
	Acquisitions, including two land parcels		3	8	2,546
	Total portfolio – May 5, 2015		4,650	102,141	$	17,612,733
	____________________________________
	-1	Contract purchase price, excluding acquisition and transaction related costs.

Organization_Details

Organization (Details)	3 Months Ended
	Mar. 31, 2015
	segment
Real Estate Properties [Line Items]
Number of reportable segments	2
ARC Properties Operating Partnership, L.P. [Member]
Real Estate Properties [Line Items]
Partnership units, holding period until right to redeem	1 year
General Partner [Member]
Real Estate Properties [Line Items]
General partner ownership interest in OP, Percent	97.40%
Limited Partner [Member] | ARC Properties Operating Partnership, L.P. [Member]
Real Estate Properties [Line Items]
Limited partner ownership interest in OP, Percent	2.60%

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
	property		property
Related Party Transaction [Line Items]
Number of real estate properties, held for sale	0		2
Impairment of real estate investments	$0	$0
Impairment of intangible assets	0	0
Impairment of unconsolidated entities	0	0
Cash and cash equivalents	788,739,000	83,216,000	416,711,000	52,725,000
Amount in excess of the amount insured by the FDIC	784,800,000		412,700,000
Deferred rental income	67,700,000		57,800,000
Allowance for doubtful accounts	3,200,000		2,500,000
ARC Properties Operating Partnership, L.P. [Member]
Related Party Transaction [Line Items]
Cash and cash equivalents	788,739,000	83,216,000	416,711,000	52,725,000
Cole Managed REITs [Member] | Program Development Costs [Member] | Deferred Costs and Other Assets, Net [Member]
Related Party Transaction [Line Items]
Organizational and offering costs receivable	16,300,000		12,900,000
Reserve for uncollectible organizational and offering costs receivable	$15,800,000		$13,100,000
Common Stock [Member] | ARC Properties Operating Partnership, L.P. [Member]
Related Party Transaction [Line Items]
Limited partners', units outstanding	23,763,797		23,763,797
Limited Partner [Member] | Common Stock [Member] | ARC Properties Operating Partnership, L.P. [Member]
Related Party Transaction [Line Items]
Limited partners', units outstanding	23,763,797		23,763,797

Summary_of_Significant_Account4

Summary of Significant Accounting Policies - Acquisition Related Expenses and Other One-Time Transaction Related Expenses (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Merger related costs:
Strategic advisory services	$0	$34,936
Transfer taxes	0	5,109
Legal fees and expenses	0	2,984
Personnel costs and other reimbursements	0	751
Other fees and expenses	0	1,330
Other non-routine costs:
Post-transaction support services	0	14,251
Subordinated distribution fee	0	78,244
Audit Committee Investigation and related litigation	15,316	0
Furniture, fixtures and equipment	0	14,085
Legal fees and expenses	475	1,826
Personnel costs and other reimbursements	0	2,443
Other fees and expenses	632	4,339
Total	$16,423	$160,298

Segment_Reporting_Narrative_De

Segment Reporting (Narrative) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
	segment
	loan
Segment Reporting Information [Line Items]
Number of reportable segments	2
Loans held for investment	13
Carrying amount of investment	$3,673
Other income, net	28	251
Unconsolidated Joint Venture [Member]
Segment Reporting Information [Line Items]
Number of owned properties	6
Number of Unconsolidated Joint Ventures	6
Carrying amount of investment	91,700
Other income, net	$100	$1,000
Real Estate Investment Segment [Member]
Segment Reporting Information [Line Items]
Loans held for investment	13
Real Estate Investment Segment [Member] | Commercial Mortgage Backed Securities [Member]
Segment Reporting Information [Line Items]
Number of securities acquired	10
Real Estate Investment Segment [Member] | Consolidated Properties [Member]
Segment Reporting Information [Line Items]
Number of owned properties	4,647
Square feet of property	102,100,000
Number of states in which entity operates	49
Percentage of rentable space leased	98.40%
Real estate property, weighted average remaining lease term	11 years 7 months 28 days
Real Estate Investment Segment [Member] | Unconsolidated Properties [Member]
Segment Reporting Information [Line Items]
Net rentable area (in square feet)	1,600,000

Segment_Reporting_Details

Segment Reporting (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Rental income	$342,759	$244,415
Direct financing lease income	741	1,006
Operating expense reimbursements	22,974	21,476
Total revenues	393,968	321,154
Acquisition related	2,182	13,417
Merger and other non-routine transactions	16,423	160,298
Property operating	30,999	29,755
Management fees to affiliates	0	13,888
General and administrative	33,106	55,369
Depreciation and amortization	219,141	173,842
Total operating expenses	303,882	481,005
Operating income (loss)	90,086	-159,851
Extinguishment of debt, net	5,307	19,628
Other income, net	8,961	3,975
Loss on derivative instruments, net	-1,028	-7,121
Loss on disposition of real estate, net	-31,368	-17,605
Total other expenses, net	-118,705	-151,101
Loss before income and franchise taxes	-28,619	-310,952
Provision for income and franchise taxes	-2,074	5,112
Net loss	-30,693	-305,840
Total Cole Capital revenues	27,494	54,257
Cole Capital reallowed fees and commissions	2,031	34,436
Assets	20,322,028		20,515,139
Real Estate Investment Segment [Member]
Segment Reporting Information [Line Items]
Rental income	342,759	244,415
Direct financing lease income	741	1,006
Operating expense reimbursements	22,974	21,476
Total revenues	366,474	266,897
Acquisition related	1,723	13,417
Merger and other non-routine transactions	16,423	159,794
Property operating	30,999	29,755
Management fees to affiliates	0	13,888
General and administrative	15,370	34,538
Depreciation and amortization	210,788	159,483
Total operating expenses	275,303	410,875
Operating income (loss)	91,171	-143,978
Interest expense, net	-95,699	-120,951
Extinguishment of debt, net	429	-9,399
Other income, net	7,742	3,959
Loss on derivative instruments, net	-1,028	-7,121
Loss on disposition of real estate, net	-31,368	-17,605
Total other expenses, net	-119,924	-151,117
Loss before income and franchise taxes	-28,753	-295,095
Provision for income and franchise taxes	-1,854	-1,123
Net loss	-30,607	-296,218
Assets	19,598,152		19,821,440
Cole Capital Segment [Member]
Segment Reporting Information [Line Items]
Acquisition related	459	0
Merger and other non-routine transactions	0	504
General and administrative	17,736	20,831
Depreciation and amortization	8,353	14,359
Total operating expenses	28,579	70,130
Operating income (loss)	-1,085	-15,873
Total other expenses, net	1,219	16
Loss before income and franchise taxes	134	-15,857
Provision for income and franchise taxes	-220	6,235
Net loss	-86	-9,622
Dealer manager and distribution fees, selling commissions and offering reimbursements	3,117	42,453
Transaction service fees and reimbursements	10,260	4,867
Management fees and reimbursements	14,117	6,937
Total Cole Capital revenues	27,494	54,257
Cole Capital reallowed fees and commissions	2,031	34,436
Assets	$723,876		$693,699

Goodwill_Details

Goodwill (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Goodwill [Roll Forward]
Goodwill, beginning balance			$1,894,794
Goodwill, ending balance	1,871,114		1,894,794
Real Estate Investment Segment [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	1,509,396
Goodwill allocated to dispositions	-23,680	[1]
Goodwill, ending balance	1,485,716
Cole Capital Segment [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	385,398
Goodwill allocated to dispositions	0	[1]
Goodwill, ending balance	$385,398
[1]	Goodwill allocated to the cost basis of properties sold and is included in loss on disposition of real estate, net, in the consolidated statement of operations.

Real_Estate_Investments_Narrat

Real Estate Investments (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Business Acquisition [Line Items]
Acquisition related expenses	$2,182,000	$13,417,000
Development Activities
Construction costs	83,284,000		77,450,000
Lease Revenue [Member] | Customer Concentration Risk [Member]
Development Activities
Concentration risk, percentage	10.00%
Lease Revenue [Member] | Geographic Concentration Risk [Member]
Development Activities
Concentration risk, percentage	10.00%
Lease Revenue [Member] | Geographic Concentration Risk [Member] | TEXAS
Development Activities
Concentration risk, percentage	12.80%
Concentration risk, number of geographic concentrations	0
Red Lobster [Member] | Lease Revenue [Member] | Customer Concentration Risk [Member]
Development Activities
Concentration risk, percentage	11.80%
Concentration risk, number of customers	0
2015 Acquisitions [Member]
Business Acquisition [Line Items]
Number of properties acquired	10
Number of land parcels acquired	6
Purchase price	7,627,000
Total purchase price of assets acquired, net	7,627,000
Development Activities
Construction costs	1,000,000
Estimated cost to complete construction	7,000,000
Land	1,600,000
Number of development projects completed	6
2014 Acquisitions, Excluding Cole Merger, ARCT IV Merger And CCPT Merger [Member]
Business Acquisition [Line Items]
Number of properties acquired		215
Total purchase price of assets acquired, net		936,073,000
2014 Acquisitions, Including Cole Merger, ARCT IV Merger and CCPT Merger [Member]
Business Acquisition [Line Items]
Acquisition related expenses	$1,700,000

Real_Estate_Investments_Detail

Real Estate Investments (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014	Dec. 31, 2014
	property		property
Future Minimum Operating Lease Base Rent Payments
2015	$925,015
2016	1,243,671
2017	1,212,172
2018	1,175,562
2019	1,134,958
Thereafter	10,062,184
Total	15,753,562
Future Minimum Direct Financing Lease Payments
2015	3,520	[1]
2016	4,674	[1]
2017	4,273	[1]
2018	3,183	[1]
2019	2,397	[1]
Thereafter	7,916	[1]
Total	25,963	[1]
Investment in Direct Financing Leases, Net
Future minimum lease payments receivable	25,963			27,199
Unguaranteed residual value of property	38,178			39,852
Unearned income	-9,319			-10,975
Investment in direct financing leases, net	54,822			56,076
2015 Acquisitions [Member]
Assets Acquired and Liabilities Assumed
Land	1,594
Buildings, fixtures and improvements	3,980
Land and Construction In Progress	1,637
Total tangible assets	7,211
In-place leases	416
Above-market leases	0
Below-market leases	0
Fair value adjustment of assumed notes payable	0
Total purchase price of assets acquired, net	7,627
Mortgage notes payable assumed	0
Cash paid for acquired real estate investments	7,627
Number of properties acquired	10
2014 Acquisitions, Excluding Cole Merger, ARCT IV Merger And CCPT Merger [Member]
Assets Acquired and Liabilities Assumed
Land			133,903
Buildings, fixtures and improvements			552,114
Land and Construction In Progress			142,821
Total tangible assets			828,838
In-place leases			120,421
Above-market leases			11,559
Below-market leases			-1,156
Fair value adjustment of assumed notes payable			-23,589
Total purchase price of assets acquired, net			936,073
Mortgage notes payable assumed			-301,532
Cash paid for acquired real estate investments			634,541
Number of properties acquired			215
2014 Acquisitions, Including Cole Merger, ARCT IV Merger and CCPT Merger [Member]
Pro Forma Information
Pro forma revenues	394,009		321,254
Pro forma net loss	($28,939)		($307,540)
GE Capital Portfolio [Member]
Future Minimum Direct Financing Lease Payments
Capital leased assets, number of units	39
[1]	39 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.

Investment_Securities_at_Fair_2

Investment Securities, at Fair Value (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]
Fair Value	$56,493	$58,646
Commercial mortgage backed securities, maturities, fair value
Investment securities, at fair value	56,493	58,646
Commercial Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	53,510	56,459
Gross Unrealized Gains	3,190	2,207
Gross Unrealized Losses	-207	-20
Fair Value	56,493	58,646
Commercial mortgage backed securities, maturities, amortized cost basis
Due within one year	0
Due after one year through five years	1,544
Due after five years through 10 years	46,190
Due after 10 years	5,776
Amortized cost basis, total	53,510
Commercial mortgage backed securities, maturities, fair value
Due within one year	0
Due after one year through five years	1,657
Due after five years through 10 years	48,867
Due after 10 years	5,969
Investment securities, at fair value	$56,493	$58,646

Investment_Securities_at_Fair_3

Investment Securities, at Fair Value (Narrative) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]
Investment securities, at fair value	$56,493	$58,646
Commercial Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Number of securities	10	10
Investment securities, at fair value	$56,493	$58,646
Number of securities with fair value below amortized cost	3
Minimum [Member]
Schedule of Available-for-sale Securities [Line Items]
Interest rate	5.11%
Minimum [Member] | Commercial Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Interest rate	5.88%
Maximum [Member]
Schedule of Available-for-sale Securities [Line Items]
Interest rate	7.24%
Maximum [Member] | Commercial Mortgage Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Interest rate	8.95%

Loans_Held_for_Investment_Deta

Loans Held for Investment (Details) (USD $)	3 Months Ended		0 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015		Sep. 30, 2016	Mar. 31, 2016
	loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment	13
Weighted-average interest rate	6.11%	[1]
Weighted-average years to maturity	9 years 7 months 6 days	[2]
Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	5.11%
Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	7.24%
Real Estate Investment Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment	13
RCAP Promissory Note [Member] | RCAP Purchase Agreement [Member] | ARC Properties Operating Partnership, L.P. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment	1
Weighted-average interest rate	8.00%	[1]
Weighted-average years to maturity	2 years	[2]
RCAP Promissory Note [Member] | RCAP Purchase Agreement [Member] | ARC Properties Operating Partnership, L.P. [Member] | Scenario, Forecast [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal payments on notes receivable			$3.80	$7.70
[1]	The interest rates on the loans secured by real estate range from 5.11% to 7.24%, as of MarchB 31, 2015.
[2]	The loans secured by real estate have maturity dates ranging from AugustB 31, 2015 to JanuaryB 1, 2033.

Loans_Held_for_Investment_Comp

Loans Held for Investment - Composition of Loans Held for Investment (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
	loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment	13
Carrying Amount	$41,357		$42,106
Weighted-Average Interest Rate	6.11%	[1]
Weighted-Average Years to Maturity	9 years 7 months 6 days	[2]
ARC Properties Operating Partnership, L.P. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying Amount	41,357		42,106
ARC Properties Operating Partnership, L.P. [Member] | Mortgage Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment	12
Carrying Amount	26,057
Weighted-Average Interest Rate	5.10%	[1]
Weighted-Average Years to Maturity	13 years 9 months 18 days	[2]
ARC Properties Operating Partnership, L.P. [Member] | RCAP Purchase Agreement [Member] | Notes Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment	1
Carrying Amount	$15,300
Weighted-Average Interest Rate	8.00%	[1]
Weighted-Average Years to Maturity	2 years	[2]
[1]	The interest rates on the loans secured by real estate range from 5.11% to 7.24%, as of MarchB 31, 2015.
[2]	The loans secured by real estate have maturity dates ranging from AugustB 31, 2015 to JanuaryB 1, 2033.

Deferred_Costs_and_Other_Asset2

Deferred Costs and Other Assets, Net (Details) (USD $)	3 Months Ended
	Mar. 31, 2015		Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Deferred costs, net	$118,294,000		$126,202,000
Accounts receivable, net	65,997,000	[1]	66,021,000	[1]
Straight-line rent receivable	111,760,000		89,355,000
Prepaid expenses	16,706,000		15,171,000
Leasehold improvements, property and equipment, net	20,565,000	[2]	21,351,000	[2]
Restricted escrow deposits	29,909,000		34,339,000
Deferred tax asset and tax receivable	17,011,000		15,924,000
Program development costs, net	16,322,000		12,871,000
Derivative assets, at fair value	1,251,000		5,509,000
Other assets	3,069,000		3,179,000
Total, deferred costs and other assets, net	400,884,000		389,922,000
Allowance for doubtful accounts	3,200,000		2,500,000
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Amortization	400,000
Accumulated depreciation and amortization	1,600,000		1,200,000
Property and Equipment [Member]
Property, Plant and Equipment [Line Items]
Accumulated depreciation and amortization	2,100,000		1,600,000
Depreciation	$500,000
[1]	Allowance for doubtful accounts was $3.2 million and $2.5 million as of MarchB 31, 2015 and DecemberB 31, 2014, respectively.
[2]	Amortization expense for leasehold improvements totaled $0.4 million for the three months ended MarchB 31, 2015. Accumulated amortization was $1.6 million and $1.2 million as of MarchB 31, 2015 and DecemberB 31, 2014, respectively. Depreciation expense for property and equipment totaled $0.5 million for the three months ended MarchB 31, 2015. Accumulated depreciation was $2.1 million and $1.6 million as of MarchB 31, 2015 and DecemberB 31, 2014, respectively.

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Fair Value of Assets and Liabilities, Measured on a Recurring Basis) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap assets	$1,251	$5,509
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
CMBS	56,493
Interest rate swap assets	1,251
Total assets	57,744	64,155
Interest rate swap liabilities	-11,754
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
CMBS	0	0
Interest rate swap assets	0	0
Total assets	0	0
Interest rate swap liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
CMBS	0	0
Interest rate swap assets	1,251	5,509
Total assets	1,251	5,509
Interest rate swap liabilities	-11,754	-7,384
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
CMBS	56,493	58,646
Interest rate swap assets	0	0
Total assets	56,493	58,646
Interest rate swap liabilities	$0	$0

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments (Reconciliation of Instrument with Unobservable Inputs) (Details) (Fair Value, Inputs, Level 3 [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Fair Value, Assets (Liabilities), Net Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		$43,847
Unrealized gain included in other comprehensive income, net		2,948
Changes in fair value included in net loss		-11,295
Fair value at purchase/issuance		147,591
Amortization included in net loss		-2,573
Ending balance		180,518
Commercial Mortgage Backed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	58,646	60,583
Unrealized gain included in other comprehensive income, net	796	2,948
Principal payments received	-2,949
Changes in fair value included in net loss		0
Fair value at purchase/issuance		151,197
Amortization included in net loss		-2,573
Ending balance	56,493	212,155
Series D Preferred Stock Embedded Derivative [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		-16,736
Unrealized gain included in other comprehensive income, net		0
Changes in fair value included in net loss		-9,998
Fair value at purchase/issuance		0
Amortization included in net loss		0
Ending balance		-26,734
Contingent Consideration Arrangements [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		0
Unrealized gain included in other comprehensive income, net		0
Changes in fair value included in net loss		-1,297
Fair value at purchase/issuance		-3,606
Amortization included in net loss		0
Ending balance		($4,903)

Fair_Value_of_Financial_Instru4

Fair Value of Financial Instruments (Fair Value of Financial Instruments by Balance Sheet Location) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Thousands, unless otherwise specified
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	$10,381,966		$10,513,781
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	10,440,104		10,874,827
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	41,357		42,106
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	45,931		42,645
Fair Value, Inputs, Level 3 [Member] | Mortgage Notes Payable [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	3,672,496	[1]	3,805,761	[1]
Fair Value, Inputs, Level 3 [Member] | Mortgage Notes Payable [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	3,823,633	[1]	3,931,029	[1]
Fair Value, Inputs, Level 3 [Member] | Corporate Bonds, Net [Member] | Senior Unsecured Note [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	2,546,701		2,546,499
Fair Value, Inputs, Level 3 [Member] | Corporate Bonds, Net [Member] | Senior Unsecured Note [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	2,468,500		2,709,845
Fair Value, Inputs, Level 3 [Member] | Convertible Debt [Member] | Convertible Senior Notes [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	978,769		977,521
Fair Value, Inputs, Level 3 [Member] | Convertible Debt [Member] | Convertible Senior Notes [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	980,519		1,088,069
Fair Value, Inputs, Level 3 [Member] | Credit Facilities [Member] | Credit Facilities [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	3,184,000		3,184,000
Fair Value, Inputs, Level 3 [Member] | Credit Facilities [Member] | Credit Facilities [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value disclosure	$3,167,452		$3,145,884
[1]	The DecemberB 31, 2014 amounts include bother debtb to conform with current presentation.

Debt_Narrative_Details

Debt (Narrative) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Debt outstanding	10,381,966	$10,513,781
Weighted-Average Interest Rate	3.48%
Weighted Average [Member]
Debt Instrument [Line Items]
Weighted-average years to maturity	4 years 9 months 18 days

Debt_Schedule_of_Debt_Details

Debt (Schedule of Debt) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015		Dec. 31, 2014
Debt [Roll Forward]
Mortgages and other debt, net, Beginning balance	$3,805,761,000
Corporate bonds, net, Beginning balance	2,546,499,000
Convertible debt, net, Beginning balance	977,521,000
Credit facility, Outstanding balance, Beginning balance	3,184,000,000
Total debt, Beginning balance	10,513,781,000
Debt Issuances	1,158,000
Repayments, Extinguishment and Assumptions	-137,106,000
Accretion and (Amortization)	4,133,000
Mortgages and other debt, net, Ending balance	3,672,496,000
Corporate bonds, net, Ending balance	2,546,701,000
Convertible debt, net, Ending balance	978,769,000
Credit facility, Outstanding balance, Ending balance	3,184,000,000
Total debt, Ending balance	10,381,966,000
Mortgages and Other Debt [Member]
Debt [Roll Forward]
Mortgages and other debt, net, Beginning balance	3,805,761,000
Debt Issuances	1,158,000
Repayments, Extinguishment and Assumptions	-137,106,000
Accretion and (Amortization)	2,683,000
Mortgages and other debt, net, Ending balance	3,672,496,000
Mortgage Notes Payable [Member]
Debt [Roll Forward]
Outstanding balance, Beginning balance	3,689,796,000
Net premium (discount), Beginning balance	70,139,000	[1]
Debt Issuances	1,158,000
Repayments, Extinguishment and Assumptions	-131,779,000
Accretion and (Amortization)	2,748,000	[1]
Outstanding balance, Ending balance	3,559,175,000
Net premium (discount), Ending balance	72,887,000	[1]
Total debt, Ending balance	3,599,173,000
Other Debt [Member]
Debt [Roll Forward]
Outstanding balance, Beginning balance	45,325,000
Net premium (discount), Beginning balance	501,000	[1]
Repayments, Extinguishment and Assumptions	-5,327,000
Accretion and (Amortization)	-65,000	[1]
Outstanding balance, Ending balance	39,998,000
Net premium (discount), Ending balance	436,000	[1]
Corporate Bonds [Member]
Debt [Roll Forward]
Outstanding balance, Beginning balance	2,550,000,000
Net premium (discount), Beginning balance	-3,501,000	[2]
Corporate bonds, net, Beginning balance	2,546,499,000
Accretion and (Amortization)	202,000	[2]
Outstanding balance, Ending balance	2,550,000,000
Net premium (discount), Ending balance	-3,299,000	[2]
Corporate bonds, net, Ending balance	2,546,701,000
Convertible Debt [Member]
Debt [Roll Forward]
Outstanding balance, Beginning balance	1,000,000,000
Net premium (discount), Beginning balance	-22,479,000	[2]
Convertible debt, net, Beginning balance	977,521,000
Accretion and (Amortization)	1,248,000	[2]
Outstanding balance, Ending balance	1,000,000,000
Net premium (discount), Ending balance	-21,231,000	[2]
Convertible debt, net, Ending balance	978,769,000
Credit Facilities [Member]
Debt [Roll Forward]
Credit facility, Outstanding balance, Beginning balance			3,184,000,000
Credit facility, Outstanding balance, Ending balance	$3,184,000,000		$3,184,000,000
[1]	Net premiums on mortgages notes payable and other debt were recorded upon the assumption of the respective debt instruments in relation to the various mergers and acquisitions. Amortization of these net premiums is recorded as a reduction to interest expense over the remaining term of the respective debt instruments using the effective-interest method.
[2]	Discounts on the corporate bonds and convertible debt were recorded based upon the fair value of the respective debt instruments as of the respective issuance dates. Amortization of these discounts is recorded as an increase to interest expense over the remaining term of the respective debt instruments using the effective-interest method.

Debt_Mortgage_Notes_Payable_De

Debt (Mortgage Notes Payable) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Debt Instrument [Line Items]
Weighted-Average Interest Rate	3.48%
Weighted Average [Member]
Debt Instrument [Line Items]
Weighted-Average Years to Maturity	4 years 9 months 18 days
Mortgage Notes Payable [Member]
Debt Instrument [Line Items]
Encumbered Properties	747
Gross Carrying Value of Collateralized Properties	6,559,759	[1]
Outstanding Balance	3,559,175		3,689,796
Weighted-Average Interest Rate	4.96%	[2]
Mortgage Notes Payable [Member] | Weighted Average [Member]
Debt Instrument [Line Items]
Weighted-Average Years to Maturity	7 years
Mortgage Notes Payable [Member] | Fixed Rate Debt [Member]
Debt Instrument [Line Items]
Encumbered Properties	746	[3]
Gross Carrying Value of Collateralized Properties	6,535,095	[1],[3]
Outstanding Balance	3,551,224	[3]
Weighted-Average Interest Rate	4.96%	[2],[3]
Mortgage Notes Payable [Member] | Fixed Rate Debt [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Outstanding Balance	285,200
Mortgage Notes Payable [Member] | Fixed Rate Debt [Member] | Weighted Average [Member]
Debt Instrument [Line Items]
Weighted-Average Years to Maturity	7 years	[3]
Mortgage Notes Payable [Member] | Variable Rate Debt [Member]
Debt Instrument [Line Items]
Encumbered Properties	1
Gross Carrying Value of Collateralized Properties	24,664	[1]
Outstanding Balance	7,951
Weighted-Average Interest Rate	3.12%	[2]
Mortgage Notes Payable [Member] | Variable Rate Debt [Member] | Weighted Average [Member]
Debt Instrument [Line Items]
Weighted-Average Years to Maturity	1 year 4 months 24 days
[1]	Gross carrying value is gross real estate assets, net of gross real estate liabilities.
[2]	Weighted-average interest rate for variable-rate debt represents the interest rate in effect as of MarchB 31, 2015.
[3]	Includes $285.2 million of variable-rate debt fixed by way of interest rate swap arrangements.

Debt_Mortgage_Notes_Payable_Na

Debt (Mortgage Notes Payable) (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014	Mar. 06, 2015	Jan. 13, 2015
Debt Instrument [Line Items]
Loss on derivative instruments, net	($1,028,000)		($7,121,000)
Extinguishment of debt, net	5,307,000		19,628,000
Weighted-Average Interest Rate	3.48%
Mortgage Notes Payable [Member]
Debt Instrument [Line Items]
Repayments and extinguishment	72,300,000		722,300,000
Payments for prepayments fees	5,000		29,000,000
Extinguishment of debt, net	400,000		19,600,000
Weighted-Average Interest Rate	4.96%	[1]
Outstanding loan balance in default				38,100,000	53,800,000
Gain on forgiveness of debt	4,900,000
Default rate of interest, per annum	10.68%
Mortgage Notes Payable [Member] | Mortgage Notes Payable [Member]
Debt Instrument [Line Items]
Weighted-Average Interest Rate	6.14%
Weighted Average [Member]
Debt Instrument [Line Items]
Weighted-average years to maturity	4 years 9 months 18 days
Weighted Average [Member] | Mortgage Notes Payable [Member]
Debt Instrument [Line Items]
Weighted-average years to maturity	7 years
Weighted Average [Member] | Mortgage Notes Payable [Member] | Mortgage Notes Payable [Member]
Debt Instrument [Line Items]
Weighted-average years to maturity	2 years 7 days
Interest Rate Swap [Member] | Mortgage Notes Payable [Member]
Debt Instrument [Line Items]
Loss on derivative instruments, net			$10,100,000
[1]	Weighted-average interest rate for variable-rate debt represents the interest rate in effect as of MarchB 31, 2015.

Debt_Aggregate_Principal_Repay

Debt (Aggregate Principal Repayments on Mortgage Notes and Other Debt) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Debt Instrument [Line Items]
Total	$10,381,966	$10,513,781
Mortgage Notes Payable [Member]
Debt Instrument [Line Items]
2015	62,577
2016	264,332
2017	465,583
2018	233,420
2019	295,956
Thereafter	2,277,305
Total	$3,599,173

Debt_Other_Debt_Narrative_Deta

Debt (Other Debt) (Narrative) (Details) (Other Debt [Member], USD $)	Mar. 31, 2015		Dec. 31, 2014
In Thousands, unless otherwise specified
Other Debt [Member]
Debt Instrument [Line Items]
Outstanding balance	$39,998		$45,325
Unamortized net premium	436	[1]	501	[1]
Interest rate	5.81%
CapLease [Member] | Other Debt [Member] | Secured Term Loan [Member]
Debt Instrument [Line Items]
Scheduled principal repayments, 2015			6,536
Scheduled principal repayments, 2016			12,516
Scheduled principal repayments, 2017			7,680
Scheduled principal repayments, 2018			$13,267
[1]	Net premiums on mortgages notes payable and other debt were recorded upon the assumption of the respective debt instruments in relation to the various mergers and acquisitions. Amortization of these net premiums is recorded as a reduction to interest expense over the remaining term of the respective debt instruments using the effective-interest method.

Debt_Borrowings_and_Carrying_V

Debt (Borrowings and Carrying Value of Collateral by Asset Type) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Debt Instrument [Line Items]
Long-term Debt	$10,381,966	$10,513,781
Other Debt [Member] | Loans Held For Investment [Member]
Debt Instrument [Line Items]
Long-term Debt	11,051
Collateral amount	20,966
Other Debt [Member] | Intercompany Mortgage [Member]
Debt Instrument [Line Items]
Long-term Debt	3,091
Collateral amount	10,926
Other Debt [Member] | Commercial Mortgage Backed Securities [Member]
Debt Instrument [Line Items]
Long-term Debt	25,856
Collateral amount	$40,866

Debt_Corporate_Bonds_Details

Debt (Corporate Bonds) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
ARC Properties Operating Partnership, L.P. [Member]
Debt Instrument [Line Items]
Outstanding Balance	$2,550,000
Interest Rate	2.80%
Corporate Bonds [Member]
Debt Instrument [Line Items]
Outstanding Balance	2,550,000	2,550,000
2017 Senior Notes [Member] | Corporate Bonds [Member] | ARC Properties Operating Partnership, L.P. [Member]
Debt Instrument [Line Items]
Outstanding Balance	1,300,000
Interest Rate	2.00%
2019 Senior Notes [Member] | Corporate Bonds [Member] | ARC Properties Operating Partnership, L.P. [Member]
Debt Instrument [Line Items]
Outstanding Balance	750,000
Interest Rate	3.00%
2024 Senior Notes [Member] | Corporate Bonds [Member] | ARC Properties Operating Partnership, L.P. [Member]
Debt Instrument [Line Items]
Outstanding Balance	$500,000
Interest Rate	4.60%

Debt_Corporate_Bonds_Narrative

Debt (Corporate Bonds) (Narrative) (Details) (USD $)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Jan. 22, 2015	Feb. 06, 2014
Debt Instrument [Line Items]
Aggregate senior unsecured notes outstanding	1,158,000
Corporate Bonds [Member] | Senior Unsecured Note [Member]
Debt Instrument [Line Items]
Aggregate senior unsecured notes outstanding			2,550,000,000
Redemption price (percent)	100.00%
Corporate Bonds [Member] | Two Percent Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate			2.00%
Senior Notes [Member]
Debt Instrument [Line Items]
Agreement for reasonable and documents fees and out-of-pocket expenses (up to)		$300,000
Cure period		60 days
Cure period, reduction		1 day
ARC Properties Operating Partnership, L.P. [Member]
Debt Instrument [Line Items]
Interest rate	2.80%
ARC Properties Operating Partnership, L.P. [Member] | Corporate Bonds [Member] | 2019 Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate	3.00%
ARC Properties Operating Partnership, L.P. [Member] | Corporate Bonds [Member] | 2024 Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate	4.60%

Debt_Convertible_Debt_Narrativ

Debt (Convertible Debt) (Narrative) (Details) (Convertible Senior Debt [Member], USD $)	0 Months Ended
In Thousands, unless otherwise specified	Jan. 22, 2015	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Outstanding balance		$1,000,000	$1,000,000
Term of notice of default to deliver required financial statements	60 days
2018 Convertible Notes [Member]
Debt Instrument [Line Items]
Outstanding balance		$597,500
Number of convertible notes		2

Debt_Convertible_Debt_Details

Debt (Convertible Debt) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015		Dec. 31, 2014
Debt Instrument [Line Items]
Interest Rate	3.48%
Convertible Senior Debt [Member]
Debt Instrument [Line Items]
Outstanding Balance	$1,000,000,000		$1,000,000,000
Interest Rate	3.30%
Amount of General Partner OP Units per principal amount	1,000
Convertible Senior Debt [Member] | 2018 Convertible Notes [Member]
Debt Instrument [Line Items]
Outstanding Balance	597,500,000
Interest Rate	3.00%
Conversion Rate	60.5997	[1]
Convertible Senior Debt [Member] | 2020 Convertible Notes [Member]
Debt Instrument [Line Items]
Outstanding Balance	$402,500,000
Interest Rate	3.75%
Conversion Rate	66.7249	[1]
[1]	Conversion rate represents the amount of the General Partner OP Units per $1,000 principal amount.

Debt_Credit_Facility_Narrative

Debt (Credit Facility) (Narrative) (Details) (USD $)	0 Months Ended	3 Months Ended
	Dec. 23, 2014	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014
Debt Instrument [Line Items]
Credit facility		$3,184,000,000	$3,184,000,000
Credit Facilities [Member]
Debt Instrument [Line Items]
Credit facility		3,184,000,000	3,184,000,000
Credit Facilities [Member] | Senior Corporate Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility	3,600,000,000	3,200,000,000
Remaining borrowing capacity		416,000,000
Extension period for receipt of financial statements	45 days
Length of extension option		1 year
Term Loan Facility [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member]
Debt Instrument [Line Items]
Current borrowing capacity				1,000,000,000
Revolving Credit Facility, Dollar Denominated [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member]
Debt Instrument [Line Items]
Current borrowing capacity				2,600,000,000
Line of Credit, Variable Interest Rate [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility		2,200,000,000
Variable interest rate		1.97%
Line of Credit, Fixed Interest Rate [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility		1,000,000,000
Line of credit, amount bearing fixed interest rate, percentage		3.30%
Revolving Credit Facility [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member] | Federal Funds Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Minimum [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member]
Debt Instrument [Line Items]
Commitment fee percentage		0.15%
Minimum [Member] | Term Loan Facility [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		1.15%
Minimum [Member] | Term Loan Facility [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		0.15%
Minimum [Member] | Revolving Credit Facility [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
Minimum [Member] | Revolving Credit Facility [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		0.00%
Maximum [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member]
Debt Instrument [Line Items]
Commitment fee percentage		0.25%
Maximum [Member] | Term Loan Facility [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		2.05%
Maximum [Member] | Term Loan Facility [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		1.05%
Maximum [Member] | Revolving Credit Facility [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		1.80%
Maximum [Member] | Revolving Credit Facility [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		0.80%
Swingline Facility [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member]
Debt Instrument [Line Items]
Repayments and Extinguishment	$25,000,000

Derivatives_and_Hedging_Activi2

Derivatives and Hedging Activities (Narrative) (Details) (USD $)	3 Months Ended		1 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Feb. 28, 2014	Jan. 31, 2014
Derivative [Line Items]
Loss on derivative instruments, net	($1,028,000)	($7,121,000)
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Assets needed for immediate settlement, aggregate fair value	13,100,000
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Assets needed for immediate settlement, aggregate fair value	13,100,000
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Interest Expense [Member]
Derivative [Line Items]
Derivative gain (loss) to be reclassified during next 12 months	9,200,000
Treasury Lock [Member]
Derivative [Line Items]
Derivative, notional amount				250,000,000
Term of derivative contract				10 years
Loss from settlement of derivative			3,900,000
Treasury Lock [Member] | Interest Expense [Member]
Derivative [Line Items]
Derivative loss recognized in current year	200,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative, notional amount	1,248,814,000
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, notional amount	51,400,000
Amount of gain (loss) recognized in income on derivative (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing)	-1,000,000
Loss on derivative instruments, net		($7,100,000)

Derivatives_and_Hedging_Activi3

Derivatives and Hedging Activities (Schedule of Interest Rate Derivatives) (Details) (Interest Rate Swap [Member], USD $)	Mar. 31, 2015
	derivative
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Number of Instruments	1
Notional Amount	$51,400,000
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Number of Instruments	17
Notional Amount	$1,248,814,000

Derivatives_and_Hedging_Activi4

Derivatives and Hedging Activities (Schedule of Derivative Instruments in Statement of Financial Position, Fair Value) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Derivatives, Fair Value [Line Items]
Derivative asset	$1,251	$5,509
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Deferred Costs and Other Assets, Net [Member]
Derivatives, Fair Value [Line Items]
Derivative asset	0	568
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Deferred Costs and Other Assets, Net [Member]
Derivatives, Fair Value [Line Items]
Derivative asset	1,251	4,941
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Deferred Rent, Derivative Liabilities and Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liability	-11,721	-7,384
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | Deferred Rent, Derivative Liabilities and Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liability	($33)	$0

Derivatives_and_Hedging_Activi5

Derivatives and Hedging Activities (Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Position) (Details) (Designated as Hedging Instrument [Member], Interest Rate Contract [Member], Cash Flow Hedging [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (loss) gain recognized in accumulated other comprehensive income on interest rate derivatives (effective portion)	($10,396)	($3,839)
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)	$2,736	$1,541

Derivatives_and_Hedging_Activi6

Derivatives and Hedging Activities (Tabular Disclosure Offsetting Derivatives) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Amounts of Recognized Assets	$1,251	$5,509
Gross Amounts of Recognized Liabilities	-11,754	-7,384
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts of Assets Presented in the Consolidated Balance Sheets	1,251	5,509
Net Amounts of Liabilities Presented in the Consolidated Balance Sheets	-11,754	-7,384
Financial Instruments	0	0
Cash Collateral Received	0	0
Net Amount	($10,503)	($1,875)

Accounts_Payable_and_Accrued_E2

Accounts Payable and Accrued Expenses (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Payables and Accruals [Abstract]
Accrued other	$64,508	$58,807
Accrued interest	39,191	56,558
Accrued real estate taxes	44,828	37,633
Accounts payable	11,602	10,027
Accounts payable and accrued expenses	$160,129	$163,025

Commitments_and_Contingencies_1

Commitments and Contingencies (Litigation) (Narrative) (Details)	0 Months Ended	3 Months Ended	1 Months Ended
	Feb. 20, 2015	Feb. 02, 2015	Jan. 16, 2015
	plaintiff	lawsuit	lawsuit
SDNY Derivative Actions [Member]
Loss Contingencies [Line Items]
Number of shareholder derivative actions		6
Number of plaintiffs	3
Maryland Derivative Actions [Member]
Loss Contingencies [Line Items]
Number of shareholder derivative actions			2

Commitments_and_Contingencies_2

Commitments and Contingencies (CapLease Litigation Matters) (Narrative) (Details)	0 Months Ended
	Aug. 09, 2013	Oct. 08, 2013
	lawsuit
Mizani, Carach and Tarver Cases [Member]
Class of Stock [Line Items]
Loss Contingency, New Claims Filed, Number	3
CapLease [Member] | Series C Cumulative Preferred Stock [Member] | John Poling Putative Class Action [Member]
Class of Stock [Line Items]
Preferred stock, dividend rate, percentage		7.25%
CapLease [Member] | Series B Cumulative Preferred [Member] | John Poling Putative Class Action [Member]
Class of Stock [Line Items]
Preferred stock, dividend rate, percentage		8.38%

Commitments_and_Contingencies_3

Commitments and Contingencies (Cole Litigation Matters) (Narrative) (Details) (USD $)	0 Months Ended
	Jul. 31, 2014	Jan. 21, 2015	Apr. 30, 2013	Mar. 31, 2015	Nov. 18, 2013	Nov. 14, 2013	Jan. 31, 2014
			lawsuit	lawsuit	lawsuit	lawsuit	lawsuit
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 [Member] | Putative Class Action [Member] | Stayed Litigation [Member]
Loss Contingencies [Line Items]
Number of lawsuits			3
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 [Member] | Putative Class Action [Member] | Settled Litigation [Member]
Loss Contingencies [Line Items]
Settlement amount	$100,000
Claims Under The Securities Act of 1933 [Member] | Class Action [Member] | Stayed Litigation [Member]
Loss Contingencies [Line Items]
Number of lawsuits			2
Breach of Fiduciary Duty [Member] | Class Action Versus American Realty Capital Properties, Cole and Cole Board of Directors [Member] | Pending Litigation [Member]
Loss Contingencies [Line Items]
Number of lawsuits				11	2	8
Breach of Fiduciary Duty [Member] | Class Action Versus American Realty Capital Properties, Cole and Cole Board of Directors [Member] | Settled Litigation [Member]
Loss Contingencies [Line Items]
Number of lawsuits							8
Breach of Fiduciary Duty [Member] | Amended Stipulation and Release and Agreement of Compromise and Settlement [Member] | Settled Litigation [Member]
Loss Contingencies [Line Items]
Settlement amount		14,000,000
Attorney fees		$7,000,000
Number of lawsuits		2

Commitments_and_Contingencies_4

Commitments and Contingencies Future Obligations (Details) (USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Ground Leases [Member]
Operating Leased Assets [Line Items]
2015	$14,291
2016	18,190
2017	17,692
2018	15,576
2019	15,150
Thereafter	247,837
Total	328,736
Office Leases [Member]
Operating Leased Assets [Line Items]
2015	5,187
2016	4,963
2017	4,595
2018	4,655
2019	4,716
Thereafter	18,412
Total	$42,528

Commitments_and_Contingencies_5

Commitments and Contingencies Purchase Commitments (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
	agreement
	property
Unrecorded Unconditional Purchase Obligation [Line Items]
Escrow deposits	$29,909,000	$34,339,000
Purchase Commitment [Member] | Private Capital Management Segment [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of purchase and sale agreements	34
Percentage of voting interests acquired	100.00%
Number of properties acquired	144
Aggregate purchase price	687,800,000
Escrow deposits	$27,100,000

Equity_Details

Equity (Details) (USD $)	3 Months Ended		0 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	28-May-14	Jan. 03, 2014	Mar. 11, 2015	Dec. 31, 2014	Aug. 20, 2013	Dec. 31, 2013
Class of Stock [Line Items]
Common stock, shares authorized	1,500,000,000					1,500,000,000
Common stock, par value (in dollars per share)	$0.01					$0.01
Common stock, shares outstanding	905,134,719					905,530,431
Common stock, shares issued	905,134,719					905,530,431
Preferred stock, shares issued	42,834,138					42,834,138
Annualized dividend rate (in dollars per share)		$1
Stock repurchase program, authorized amount							$250
Common stock repurchases (shares)	132,826
Public Offering [Member]
Class of Stock [Line Items]
Proceeds from issuances of common stock, net offering costs			1,590
ARC Properties Operating Partnership, L.P. [Member] | General Partner [Member]
Class of Stock [Line Items]
Issuance of Common OP units, net, units			138,000,000
Member Units [Member] | ARC Properties Operating Partnership, L.P. [Member] | General Partner [Member]
Class of Stock [Line Items]
Preferred stock, shares issued	42,800,000
Member Units [Member] | ARC Properties Operating Partnership, L.P. [Member] | Limited Partner [Member]
Class of Stock [Line Items]
Preferred stock, shares issued	86,874
Common Stock [Member]
Class of Stock [Line Items]
Shares issued (in shares)		524,305,318
Common stock repurchases (shares)	132,826
Common Stock [Member] | Public Offering [Member]
Class of Stock [Line Items]
Shares issued (in shares)			138,000,000
Share price (in dollars per share)			$12
Preferred OP Units [Member]
Class of Stock [Line Items]
Preferred stock, shares issued	42,800,000
Preferred OP Units [Member] | Member Units [Member] | ARCT IV [Member]
Class of Stock [Line Items]
Preferred stock, dividend rate, percentage				6.70%
Preferred stock, liquidation preference per share (in dollars per share)	$25
Dividend rate, per-dollar-amount	$1.68
Preferred OP Units [Member] | Member Units [Member] | ARC Properties Operating Partnership, L.P. [Member] | ARCT IV [Member] | General Partner [Member]
Class of Stock [Line Items]
Series F preferred units				42,200,000
Common Stock [Member] | ARC Properties Operating Partnership, L.P. [Member]
Class of Stock [Line Items]
Limited partners', units outstanding	23,763,797					23,763,797
Limited partners', units issued	23,763,797					23,763,797
Common Stock [Member] | ARC Properties Operating Partnership, L.P. [Member] | General Partner [Member]
Class of Stock [Line Items]
Units, outstanding, ending balance	905,134,719	769,931,938				905,530,431		239,234,725
Issuance of Common OP units, net, units		524,305,318
Common stock repurchases (shares)	132,826
Common Stock [Member] | ARC Properties Operating Partnership, L.P. [Member] | Limited Partner [Member]
Class of Stock [Line Items]
Units, outstanding, ending balance	23,763,797	24,836,863				23,763,797		17,832,274
Limited partners', units outstanding	23,763,797					23,763,797
Limited partners', units issued	23,763,797
Number of units requested for redemption					13,100,000
Amount of redemption request					$126.70
Redemption price (in dollars per share)					$9.65
Issuance of Common OP units, net, units		7,956,297
American Realty Capital Trust IV, Operating Partnership [Member] | Member Units [Member] | ARCT IV [Member]
Class of Stock [Line Items]
Equity interest issued or issuable (in shares)				42,200,000
American Realty Capital Trust IV, Operating Partnership [Member] | Preferred OP Units [Member] | Member Units [Member] | ARC Properties Operating Partnership, L.P. [Member] | ARCT IV [Member] | Limited Partner [Member]
Class of Stock [Line Items]
Series F preferred units				700,000

Equitybased_Compensation_Narra

Equity-based Compensation (Narrative) (Details) (USD $)	3 Months Ended		0 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Jan. 08, 2014	Dec. 11, 2012	Oct. 03, 2013	Oct. 01, 2013	Dec. 31, 2014
Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum authorized amount as a percentage of shares authorized	10.00%
Shares issued in period	7,700,000
Number of shares authorized, in shares	85,200,000
Director Stock Plan [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in period	45,000
Restricted Stock [Member] | Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense	0.8
Number of shares vested	494,774
Restricted Stock [Member] | Director Stock Plan [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted share vesting period	5 years
Number of shares authorized, in shares	99,000
Restricted Stock [Member] | Director Stock Plan [Member] | General Partner [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized, in shares	54,000
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense		2.5
Distributions payable	6.9						6.9
Performance Shares [Member] | Multi-year Outperformance Plan [Member] | Former Manager [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted				8,200,000
Number of shares vested			8,200,000
Performance period				3 years
Performance Shares [Member] | New Multi-Year Outperformance Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance based award percentage, as percentage of the company's market capitalization					5.00%
Maximum award opportunity					$120
Performance Shares [Member] | New Multi-Year Outperformance Plan [Member] | Performance Period [Member] | Former Manager [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period						3 years

Equitybased_Compensation_Unves

Equity-based Compensation (Unvested Restricted Share Award Activity) (Details) (Equity Plan [Member], Restricted Stock [Member], USD $)	3 Months Ended
	Mar. 31, 2015
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]
Shares of Restricted Common Stock, Unvested Beginning Balance	2,684,062
Shares of Restricted Common Stock, Vested	-494,774
Shares of Restricted Common Stock, Forfeited	-265,886
Shares of Restricted Common Stock, Unvested Ending Balance	1,923,402
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, Unvested Beginning Balance (in dollars per share)	$13.84
Weighted-Average Issue Price, Vested (in dollars per share)	$13.98
Weighted-Average Issue Price, Forfeited (in dollars per share)	$13.71
Weighted-Average Issue Price, Unvested Ending Balance (in dollars per share)	$13.83

Related_Party_Transactions_and2

Related Party Transactions and Arrangements (Related Party Fees and Expenses) (Details) (Affiliated Entity [Member], USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Related party expenses	$27,494,000	$54,257,000
Tenant Improvement And Furniture Costs [Member]
Related Party Transaction [Line Items]
Related party expenses			8,500,000
Offering Related Costs [Member]
Related Party Transaction [Line Items]
Related party expenses	0	150,000
Acquisition Related Expenses [Member]
Related Party Transaction [Line Items]
Related party expenses	0	1,539,000
Merger And Other Non-Routine Transactions [Member]
Related Party Transaction [Line Items]
Related party expenses	0	137,738,000
Management Fees To Affiliates [Member]
Related Party Transaction [Line Items]
Related party expenses	0	13,888,000
General and Administrative Expenses [Member]
Related Party Transaction [Line Items]
Related party expenses	0	15,592,000
Indirect Affiliate Expenses [Member]
Related Party Transaction [Line Items]
Related party expenses	0	498,000
Total Expenses and Capitalized Costs [Member]
Related Party Transaction [Line Items]
Related party expenses	0	169,405,000
Cole Capital Offering Related Revenue [Member]
Related Party Transaction [Line Items]
Related party expenses	3,117,000	42,453,000
Cole Capital Operating Revenue [Member]
Related Party Transaction [Line Items]
Related party expenses	$24,377,000	$11,804,000

Related_Party_Transactions_and3

Related Party Transactions and Arrangements (Offering Related Costs) (Narrative) (Details) (Affiliates of Former Manager [Member], USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Related Party Transaction [Line Items]
Related party expenses	$0	$15,592,000
Commissions And Fees [Member]
Related Party Transaction [Line Items]
Related party expenses	$0	$200,000

Related_Party_Transactions_and4

Related Party Transactions and Arrangements (Acquisition Related Expenses) (Narrative) (Details) (Affiliates of Former Manager, One [Member], Strategic and Financial Advisory Services Fee [Member], USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Related Party Transaction [Line Items]
Payments of related party expenses	$0
Fortress Portfolio [Member]
Related Party Transaction [Line Items]
Payments of related party expenses		1,000,000
Percentage of contract purchase price		0.25%
Inland Portfolio [Member]
Related Party Transaction [Line Items]
Payments of related party expenses		$500,000
Percentage of contract purchase price		0.25%

Related_Party_Transactions_and5

Related Party Transactions and Arrangements (Merger and Other Non-routine Transactions) (Details) (Affiliated Entity [Member], USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Jan. 03, 2014
Related Party Transaction [Line Items]
Related party expenses	$27,494,000	$54,257,000
Merger And Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Related party expenses		137,738,000
Strategic Advisory Services [Member]
Related Party Transaction [Line Items]
Related party expenses		27,265,000
Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related party expenses		72,000
Subordinated Distribution Fees [Member]
Related Party Transaction [Line Items]
Related party expenses		78,244,000
Furniture, Fixtures And Equipment [Member]
Related Party Transaction [Line Items]
Related party expenses		15,800,000
Other Fees And Expenses [Member]
Related Party Transaction [Line Items]
Related party expenses		2,900,000
Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related party expenses		2,105,000
Post Transaction Support Services [Member]
Related Party Transaction [Line Items]
Related party expenses		11,352,000
ARCT IV Merger [Member] | Merger And Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Related party expenses		94,213,000
ARCT IV Merger [Member] | Strategic Advisory Services [Member]
Related Party Transaction [Line Items]
Related party expenses		8,400,000
ARCT IV Merger [Member] | Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related party expenses		0
ARCT IV Merger [Member] | Subordinated Distribution Fees [Member]
Related Party Transaction [Line Items]
Related party expenses		78,244,000	78,200,000
ARCT IV Merger [Member] | Furniture, Fixtures And Equipment [Member]
Related Party Transaction [Line Items]
Related party expenses		5,800,000
ARCT IV Merger [Member] | Other Fees And Expenses [Member]
Related Party Transaction [Line Items]
Related party expenses		0
ARCT IV Merger [Member] | Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related party expenses		417,000
ARCT IV Merger [Member] | Post Transaction Support Services [Member]
Related Party Transaction [Line Items]
Related party expenses		1,352,000
Internalization And Other [Member] | Merger And Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Related party expenses		20,000,000
Internalization And Other [Member] | Strategic Advisory Services [Member]
Related Party Transaction [Line Items]
Related party expenses		0
Internalization And Other [Member] | Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related party expenses		0
Internalization And Other [Member] | Subordinated Distribution Fees [Member]
Related Party Transaction [Line Items]
Related party expenses		0
Internalization And Other [Member] | Furniture, Fixtures And Equipment [Member]
Related Party Transaction [Line Items]
Related party expenses		10,000,000
Internalization And Other [Member] | Other Fees And Expenses [Member]
Related Party Transaction [Line Items]
Related party expenses		0
Internalization And Other [Member] | Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related party expenses		0
Internalization And Other [Member] | Post Transaction Support Services [Member]
Related Party Transaction [Line Items]
Related party expenses		10,000,000
Cole Merger [Member] | Merger And Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Related party expenses		21,775,000
Cole Merger [Member] | Strategic Advisory Services [Member]
Related Party Transaction [Line Items]
Related party expenses		17,115,000
Cole Merger [Member] | Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related party expenses		72,000
Cole Merger [Member] | Subordinated Distribution Fees [Member]
Related Party Transaction [Line Items]
Related party expenses		0
Cole Merger [Member] | Furniture, Fixtures And Equipment [Member]
Related Party Transaction [Line Items]
Related party expenses		0
Cole Merger [Member] | Other Fees And Expenses [Member]
Related Party Transaction [Line Items]
Related party expenses		2,900,000
Cole Merger [Member] | Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related party expenses		1,688,000
Cole Merger [Member] | Post Transaction Support Services [Member]
Related Party Transaction [Line Items]
Related party expenses		0
Multiple-Tenant Spin Off [Member] | Merger And Acquisition Related Costs [Member]
Related Party Transaction [Line Items]
Related party expenses		1,750,000
Multiple-Tenant Spin Off [Member] | Strategic Advisory Services [Member]
Related Party Transaction [Line Items]
Related party expenses		1,750,000
Multiple-Tenant Spin Off [Member] | Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related party expenses		0
Multiple-Tenant Spin Off [Member] | Subordinated Distribution Fees [Member]
Related Party Transaction [Line Items]
Related party expenses		0
Multiple-Tenant Spin Off [Member] | Furniture, Fixtures And Equipment [Member]
Related Party Transaction [Line Items]
Related party expenses		0
Multiple-Tenant Spin Off [Member] | Other Fees And Expenses [Member]
Related Party Transaction [Line Items]
Related party expenses		0
Multiple-Tenant Spin Off [Member] | Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related party expenses		0
Multiple-Tenant Spin Off [Member] | Post Transaction Support Services [Member]
Related Party Transaction [Line Items]
Related party expenses		$0

Related_Party_Transactions_and6

Related Party Transactions and Arrangements (Merger Related Costs) (Narrative) (Details) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Jan. 08, 2014	Dec. 09, 2013
Affiliates of Former Manager, One [Member] | Strategic and Financial Advisory Services Fee [Member]
Related Party Transaction [Line Items]
Payments of related party expenses	$0
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Related party expenses	27,494,000	54,257,000
Affiliated Entity [Member] | Strategic Advisory Services [Member]
Related Party Transaction [Line Items]
Related party expenses		27,265,000
ARCT IV [Member] | Affiliated Entity [Member] | Strategic Advisory Services [Member]
Related Party Transaction [Line Items]
Related party expenses		8,400,000
Cole Real Estate Investments, Inc. [Member] | Affiliates of Former Manager, One [Member] | Strategic and Financial Advisory Services Fee [Member]
Related Party Transaction [Line Items]
Percentage of contract purchase price		0.25%
Related party expenses		14,200,000
Cole Real Estate Investments, Inc. [Member] | Affiliates of Former Manager, One [Member] | Transaction Management Support, Marketing Support, Due Diligence Coordination and Event Coordination [Member]
Related Party Transaction [Line Items]
Payments of related party expenses			2,900,000
Related party expenses				2,900,000
Cole Real Estate Investments, Inc. [Member] | Affiliated Entity [Member] | Strategic Advisory Services [Member]
Related Party Transaction [Line Items]
Related party expenses		17,115,000
Multiple-Tenant Spin Off [Member] | Affiliated Entity [Member] | Strategic Advisory Services [Member]
Related Party Transaction [Line Items]
Related party expenses		1,750,000
ARCT IV [Member] | ARCT IV [Member] | Affiliates of Former Manager, Five [Member] | Brokerage Commission Fee [Member]
Related Party Transaction [Line Items]
Payments of related party expenses		$8,400,000

Related_Party_Transactions_and7

Related Party Transactions and Arrangements (Other Non-routine Transactions) (Narrative) (Details) (USD $)	3 Months Ended		0 Months Ended
Share data in Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Jan. 08, 2014	Jan. 03, 2014
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Related party expenses	$27,494,000	$54,257,000
Affiliated Entity [Member] | Subordinated Distribution Fee [Member]
Related Party Transaction [Line Items]
Related party expenses		78,244,000
Affiliated Entity [Member] | Furniture, Fixtures And Equipment [Member]
Related Party Transaction [Line Items]
Related party expenses		15,800,000
Affiliated Entity [Member] | Legal Fees And Expenses [Member]
Related Party Transaction [Line Items]
Related party expenses		2,900,000
Affiliated Entity [Member] | Other Non-Routine Costs, Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related party expenses		2,105,000
Affiliated Entity [Member] | Post Transaction Support Services [Member]
Related Party Transaction [Line Items]
Related party expenses		11,352,000
Former Manager [Member] | Transition Services [Member]
Related Party Transaction [Line Items]
Payments of related party expenses			10,000,000
Support services term			60 days
ARCT IV [Member] | Affiliated Entity [Member] | Subordinated Distribution Fee [Member]
Related Party Transaction [Line Items]
Related party expenses		78,244,000		78,200,000
Minimum equity holding period				2 years
ARCT IV [Member] | Affiliated Entity [Member] | Furniture, Fixtures And Equipment [Member]
Related Party Transaction [Line Items]
Related party expenses		5,800,000
ARCT IV [Member] | Affiliated Entity [Member] | Legal Fees And Expenses [Member]
Related Party Transaction [Line Items]
Related party expenses		0
ARCT IV [Member] | Affiliated Entity [Member] | Other Non-Routine Costs, Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related party expenses		417,000
ARCT IV [Member] | Affiliated Entity [Member] | Post Transaction Support Services [Member]
Related Party Transaction [Line Items]
Related party expenses		1,352,000
ARCT IV [Member] | Member Units [Member] | Subordinated Distribution Fee [Member]
Related Party Transaction [Line Items]
Cumulative capital investment return, threshold percentage				6.00%
ARCT IV [Member] | Member Units [Member] | Affiliates of Former Manager, Six [Member]
Related Party Transaction [Line Items]
Cumulative capital investment return				358,300,000
ARCT IV [Member] | Member Units [Member] | Affiliated Entity [Member] | Subordinated Distribution Fee [Member]
Related Party Transaction [Line Items]
Stock issued, shares, conversion of units				6.7
Cole Real Estate Investments, Inc. [Member] | Affiliated Entity [Member] | Subordinated Distribution Fee [Member]
Related Party Transaction [Line Items]
Related party expenses		0
Cole Real Estate Investments, Inc. [Member] | Affiliated Entity [Member] | Furniture, Fixtures And Equipment [Member]
Related Party Transaction [Line Items]
Related party expenses		0
Cole Real Estate Investments, Inc. [Member] | Affiliated Entity [Member] | Legal Fees And Expenses [Member]
Related Party Transaction [Line Items]
Related party expenses		2,900,000
Cole Real Estate Investments, Inc. [Member] | Affiliated Entity [Member] | Other Non-Routine Costs, Personnel Costs And Other Reimbursements [Member]
Related Party Transaction [Line Items]
Related party expenses		1,688,000
Cole Real Estate Investments, Inc. [Member] | Affiliated Entity [Member] | Post Transaction Support Services [Member]
Related Party Transaction [Line Items]
Related party expenses		$0
ARCT IV [Member] | ARCT IV [Member] | Member Units [Member] | Affiliated Entity [Member] | Subordinated Distribution Fee [Member]
Related Party Transaction [Line Items]
Stock issued, shares, conversion of units				2.8

Related_Party_Transactions_and8

Related Party Transactions and Arrangements (Asset Management Fees) (Narrative) (Details) (Affiliates of Former Manager, Five [Member], Asset Management Fees [Member], USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2013
ARCT IV [Member]
Related Party Transaction [Line Items]
Cumulative, pre-tax, non-compounded return	6.00%
Percent used to calculate asset management fees	0.19%
Member Units [Member] | ARCT IV [Member]
Related Party Transaction [Line Items]
Stock issued in lieu of cash for management fees, shares		498,857	492,483
Exchange ratio to convert Class B Units into OP Units		2.3961
Selling, general and administrative expenses from transactions with related party	$0	$13,900,000

Related_Party_Transactions_and9

Related Party Transactions and Arrangements (General and Administrative Expenses) (Details) (Affiliates of Former Manager [Member], USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Related Party Transaction [Line Items]
Related party expenses	$0	$15,592,000
Advisory Fees And Reimbursements [Member]
Related Party Transaction [Line Items]
Related party expenses	0	1,518,000
Equity Awards [Member]
Related Party Transaction [Line Items]
Related party expenses	$0	$14,074,000

Recovered_Sheet2

Related Party Transactions and Arrangements (Advisory fees and reimbursements) (Narrative) (Details) (Affiliates of Former Manager [Member], USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Related Party Transaction [Line Items]
Related party expenses	$0	$15,592,000
Advisory Fees And Reimbursements [Member]
Related Party Transaction [Line Items]
Related party expenses	$0	$1,518,000

Recovered_Sheet3

Related Party Transactions and Arrangements (Equity Awards) (Narrative) (Details) (ARCT III [Member], USD $)	3 Months Ended
	Mar. 31, 2014
Equity Awards [Member]
Related Party Transaction [Line Items]
Selling, general and administrative expenses from transactions with related party	$12,500,000
Former Manager [Member] | Equity Awards, Change in Total Return to Stockholders [Member]
Related Party Transaction [Line Items]
Selling, general and administrative expenses from transactions with related party	$1,600,000
Affiliates of Former Manager [Member] | Equity Awards [Member]
Related Party Transaction [Line Items]
Number of restricted shares granted	796,075
Director [Member] | Affiliates of Former Manager [Member] | Equity Awards [Member]
Related Party Transaction [Line Items]
Number of restricted shares granted	87,702

Recovered_Sheet4

Related Party Transactions and Arrangements (Indirect Affiliate Expenses) (Details) (Affiliated Entity [Member], USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Related Party Transaction [Line Items]
Related party expenses	$27,494,000	$54,257,000
Indirect Affiliate Expenses [Member]
Related Party Transaction [Line Items]
Related party expenses	0	498,000
Audrain Building [Member]
Related Party Transaction [Line Items]
Related party expenses		405,000
New York (405 Park Ave.) Office [Member]
Related Party Transaction [Line Items]
Related party expenses	0	71,000
Dresher, PA Office [Member]
Related Party Transaction [Line Items]
Related party expenses	0	19,000
North Carolina Office [Member]
Related Party Transaction [Line Items]
Related party expenses	$0	$3,000

Recovered_Sheet5

Related Party Transactions and Arrangements (Audrain Building) (Narrative) (Details) (Affiliated Entity [Member], USD $)	3 Months Ended		0 Months Ended	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Oct. 04, 2013	Dec. 31, 2014
Related Party Transaction [Line Items]
Related party expenses	$27,494,000	$54,257,000
Architectural Costs Audrain Building [Member]
Related Party Transaction [Line Items]
Related party expenses	0	300,000
Lease Agreement and Termination [Member]
Related Party Transaction [Line Items]
Lease term			15 years
Lease amount			400,000
Payments of related party expenses		100,000
Revenue from related parties		7,000
Tenant Improvement And Furniture Costs [Member]
Related Party Transaction [Line Items]
Related party expenses				8,500,000
Indirect Affiliate Expenses [Member]
Related Party Transaction [Line Items]
Related party expenses	$0	$498,000
Member Units [Member] | Indirect Affiliate Expenses [Member]
Related Party Transaction [Line Items]
Shares delivered and retired	916,423

Recovered_Sheet6

Related Party Transactions and Arrangements (New York (405 Park Ave.) Office) (Narrative) (Details) (Affiliated Entity [Member], USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Related Party Transaction [Line Items]
Related party expenses	$27,494,000	$54,257,000
New York (405 Park Ave.) Office [Member]
Related Party Transaction [Line Items]
Related party expenses	$0	$71,000

Recovered_Sheet7

Related Party Transactions and Arrangements (Additional Related Party Transactions) (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
	property
Related Party Transaction [Line Items]
Number of Vacant Properties Contributed	2
Investment securities, at fair value	$56,493,000		$58,646,000
Affiliates of Former Manager [Member] | Investments In Real Estate Fund [Member]
Related Party Transaction [Line Items]
Payments to Acquire Available-for-sale Securities		1,600,000
Investment securities, at fair value	100,000
ARC Real Estate Partners, LLC [Member]
Related Party Transaction [Line Items]
Indirect ownership interests	100.00%
Number of owned properties	63
ARCT IV OP [Member]
Related Party Transaction [Line Items]
Issuance of common OP units, net	800,000
Issuance of Common OP units, net, units	79,872
ARC Properties Operating Partnership, L.P. [Member]
Related Party Transaction [Line Items]
Issuance of common OP units, net		7,480,459,000
Investment securities, at fair value	$56,493,000		$58,646,000
ARC Properties Operating Partnership, L.P. [Member] | Member Units [Member] | ARCT III [Member]
Related Party Transaction [Line Items]
Exchange ratio of ARCP's common stock	95.00%

Recovered_Sheet8

Related Party Transactions and Arrangements (Due To Affiliates) (Narrative) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Related Party Transaction [Line Items]
Due to affiliates	$547	$559
Cole Managed REITs [Member] | Merger And Other Non-Routine Transactions [Member]
Related Party Transaction [Line Items]
Due to affiliates	$547	$559

Recovered_Sheet9

Related Party Transactions and Arrangements (Cole Capital) (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Cole Credit Property Trust IV Inc., Cole Office And Industrial REIT (CCIT II), Inc. And Cole Credit Property Trust V, Inc. [Member] | Selling Commission [Member]
Related Party Transaction [Line Items]
Revenue from related party, percentage of gross offering proceeds	7.00%
Cole Credit Property Trust IV Inc., Cole Office And Industrial REIT (CCIT II), Inc. And Cole Credit Property Trust V, Inc. [Member] | Selling Commission Reimbursement [Member]
Related Party Transaction [Line Items]
Revenue from related party, percentage	100.00%
Cole Credit Property Trust IV Inc., Cole Office And Industrial REIT (CCIT II), Inc. And Cole Credit Property Trust V, Inc. [Member] | Dealer Manager Fee [Member]
Related Party Transaction [Line Items]
Revenue from related party, percentage of gross offering proceeds	2.00%
INAV [Member] | Selling Commission [Member]
Related Party Transaction [Line Items]
Revenue from related party, percentage of offering price per share	3.75%
INAV [Member] | Selling Commission Reimbursement [Member]
Related Party Transaction [Line Items]
Revenue from related party, percentage	100.00%
INAV [Member] | Common Class W [Member] | Dealer Manager Fee [Member]
Related Party Transaction [Line Items]
Daily asset based related party fee percent	0.55%
INAV [Member] | Common Class I [Member] | Dealer Manager Fee [Member]
Related Party Transaction [Line Items]
Daily asset based related party fee percent	0.25%
INAV [Member] | Common Class A [Member] | Distribution Fee [Member]
Related Party Transaction [Line Items]
Daily asset based related party fee percent	0.50%
Cole Managed REITs [Member] | Organization and Offering Fee [Member]
Related Party Transaction [Line Items]
Payments of related party expenses	$16,300,000
Cole Managed REITs [Member] | Uncollectible Allowance For Organization and Offering Fees [Member]
Related Party Transaction [Line Items]
Payments of related party expenses	$15,800,000

Recovered_Sheet10

Related Party Transactions and Arrangements (Offering Related Revenue) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cole Managed REITs [Member] | Selling Commission Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	$1,775,000	$29,517,000
Cole Managed REITs [Member] | Selling Commissions Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from related parties	-1,775,000	-29,517,000
Cole Managed REITs [Member] | Dealer Manager And Distribution Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	716,000	8,952,000
Cole Managed REITs [Member] | Dealer Manager and Distribution Fees Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from related parties	-256,000	-4,919,000
Cole Managed REITs [Member] | Other Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	626,000	3,984,000
CCPT V [Member] | Selling Commission Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	536,000	0
CCPT V [Member] | Selling Commissions Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from related parties	-536,000	0
CCPT V [Member] | Dealer Manager And Distribution Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	167,000	0
CCPT V [Member] | Dealer Manager and Distribution Fees Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from related parties	-61,000	0
CCPT V [Member] | Other Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	196,000	50,000
CCIT II [Member] | Selling Commission Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	1,226,000	371,000
CCIT II [Member] | Selling Commissions Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from related parties	-1,226,000	-371,000
CCIT II [Member] | Dealer Manager And Distribution Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	359,000	114,000
CCIT II [Member] | Dealer Manager and Distribution Fees Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from related parties	-151,000	-53,000
CCIT II [Member] | Other Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	395,000	114,000
INAV [Member] | Selling Commission Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	13,000	21,000
INAV [Member] | Selling Commissions Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from related parties	-13,000	-21,000
INAV [Member] | Dealer Manager And Distribution Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	190,000	65,000
INAV [Member] | Dealer Manager and Distribution Fees Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from related parties	-44,000	-2,000
INAV [Member] | Other Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	35,000	53,000
CCPT IV [Member] | Selling Commission Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties		29,125,000
CCPT IV [Member] | Selling Commissions Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from related parties		-29,125,000
CCPT IV [Member] | Dealer Manager And Distribution Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties		8,773,000
CCPT IV [Member] | Dealer Manager and Distribution Fees Reallowance Expense [Member]
Related Party Transaction [Line Items]
Revenue from related parties		-4,864,000
CCPT IV [Member] | Other Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties		$3,767,000

Recovered_Sheet11

Related Party Transactions and Arrangements (Operating Revenue) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Total [Member] | Acquisition and Disposition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	$9,689,000
Total [Member] | Acquisition Expense Reimbursements [Member]
Related Party Transaction [Line Items]
Revenue from related parties	571,000	308,000
Total [Member] | Acquisition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties		4,559,000
Total [Member] | Asset Management Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	226,000	151,000
Total [Member] | Property Management And Leasing Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	195,000	290,000
Total [Member] | Operating Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	2,518,000	1,203,000
Total [Member] | Advisory And Performance Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	11,178,000	5,293,000
CCPT IV [Member] | Acquisition and Disposition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	3,493,000
CCPT IV [Member] | Acquisition Expense Reimbursements [Member]
Related Party Transaction [Line Items]
Revenue from related parties	241,000	236,000
CCPT IV [Member] | Acquisition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties		3,998,000
CCPT IV [Member] | Asset Management Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	0	0
CCPT IV [Member] | Property Management And Leasing Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	0	0
CCPT IV [Member] | Operating Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	1,690,000	829,000
CCPT IV [Member] | Advisory And Performance Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	7,384,000	2,564,000
CCPT V [Member] | Acquisition and Disposition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	995,000
CCPT V [Member] | Acquisition Expense Reimbursements [Member]
Related Party Transaction [Line Items]
Revenue from related parties	240,000	17,000
CCPT V [Member] | Acquisition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties		66,000
CCPT V [Member] | Asset Management Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	0	0
CCPT V [Member] | Property Management And Leasing Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	0	0
CCPT V [Member] | Operating Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	244,000	0
CCPT V [Member] | Advisory And Performance Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	757,000	0
CCIT [Member] | Acquisition and Disposition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	4,350,000
CCIT [Member] | Acquisition Expense Reimbursements [Member]
Related Party Transaction [Line Items]
Revenue from related parties	21,000	55,000
CCIT [Member] | Acquisition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties		495,000
CCIT [Member] | Asset Management Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	0	0
CCIT [Member] | Property Management And Leasing Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	0	0
CCIT [Member] | Operating Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	339,000	374,000
CCIT [Member] | Advisory And Performance Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	1,557,000	2,595,000
CCIT II [Member] | Acquisition and Disposition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	0
CCIT II [Member] | Acquisition Expense Reimbursements [Member]
Related Party Transaction [Line Items]
Revenue from related parties	44,000	0
CCIT II [Member] | Acquisition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties		0
CCIT II [Member] | Asset Management Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	0	0
CCIT II [Member] | Property Management And Leasing Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	0	0
CCIT II [Member] | Operating Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	245,000	0
CCIT II [Member] | Advisory And Performance Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	1,196,000	26,000
INAV [Member] | Acquisition and Disposition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	0
INAV [Member] | Acquisition Expense Reimbursements [Member]
Related Party Transaction [Line Items]
Revenue from related parties	25,000	0
INAV [Member] | Acquisition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties		0
INAV [Member] | Asset Management Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	0	0
INAV [Member] | Property Management And Leasing Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	0	0
INAV [Member] | Operating Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	0	0
INAV [Member] | Advisory And Performance Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	284,000	108,000
Other Related Parties [Member] | Acquisition and Disposition Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	851,000
Other Related Parties [Member] | Acquisition Expense Reimbursements [Member]
Related Party Transaction [Line Items]
Revenue from related parties	0	0
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	226,000	151,000
Other Related Parties [Member] | Property Management And Leasing Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	195,000	290,000
Other Related Parties [Member] | Operating Expense Reimbursement Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	0	0
Other Related Parties [Member] | Advisory And Performance Fee Revenue [Member]
Related Party Transaction [Line Items]
Revenue from related parties	$0	$0

Recovered_Sheet12

Related Party Transactions and Arrangements (Investment in the Managed REITs) (Narrative) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Related Party Transaction [Line Items]
Carrying Amount of Investment	$3,673
Other income, net	28	251
Unconsolidated Managed Real Estate Investment Trusts [Member]
Related Party Transaction [Line Items]
Carrying Amount of Investment	3,700
Other income, net	($44)	($700)

Recovered_Sheet13

Related Party Transactions and Arrangements (Schedule of Investment in the Managed REITs) (Details) (USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Related Party Transaction [Line Items]
Carrying Amount of Investment	$3,673
CCPT IV [Member]
Related Party Transaction [Line Items]
% of Outstanding Shares Owned	0.01%
Carrying Amount of Investment	128
CCPT V [Member]
Related Party Transaction [Line Items]
% of Outstanding Shares Owned	0.11%
Carrying Amount of Investment	1,809
CCIT II [Member]
Related Party Transaction [Line Items]
% of Outstanding Shares Owned	1.11%
Carrying Amount of Investment	1,586
INAV [Member]
Related Party Transaction [Line Items]
% of Outstanding Shares Owned	0.18%
Carrying Amount of Investment	$150

Recovered_Sheet14

Related Party Transactions and Arrangements (Due from Affiliates) (Narrative) (Details) (USD $)	0 Months Ended	3 Months Ended	12 Months Ended
	Dec. 16, 2014	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
Related Party Transaction [Line Items]
Due from affiliates		$58,457,000	$86,122,000
Cole Managed REITs [Member]
Related Party Transaction [Line Items]
Due from affiliates		8,285,000
Credit Facilities [Member] | Revolving Credit Facility [Member] | INAV [Member]
Related Party Transaction [Line Items]
Current borrowing capacity	20,000,000
Basis spread on variable rate	2.45%
Draw down from line of credit		10,000,000
Credit Facilities [Member] | Revolving Credit Facility [Member] | CCPT V [Member]
Related Party Transaction [Line Items]
Due from affiliates			20,000,000
Current borrowing capacity				10,000,000
Increase to availing borrowings			60,000,000
Credit Facilities [Member] | Revolving Credit Facility [Member] | CCIT II [Member]
Related Party Transaction [Line Items]
Due from affiliates			30,000,000
Current borrowing capacity		$10,000,000
London Interbank Offered Rate (LIBOR) [Member] | Credit Facilities [Member] | Revolving Credit Facility [Member] | Cole Office And Industrial REIT (CCIT II), Inc. And Cole Credit Property Trust V, Inc. [Member]
Related Party Transaction [Line Items]
Basis spread on variable rate		2.20%

Net_Loss_Per_ShareUnit_Schedul

Net Loss Per Share/Unit (Schedule of Earnings Per Share, Basic and Diluted (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Net loss attributable to the Company	($29,970)	($291,444)
Less: dividends to preferred shares and participating securities	17,978	23,432
Net loss attributable to common stockholders/unitholders	($47,948)	($314,876)
Weighted average number of common shares outstanding - basic and diluted	902,996,270	547,470,457
Basic and diluted net loss per share from continuing operations attributable to common stockholders	($0.05)	($0.58)

Net_Loss_Per_ShareUnit_Narrati

Net Loss Per Share/Unit (Narrative) (Details)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,900,000
ARC Properties Operating Partnership, L.P. [Member] | Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,900,000
ARC Properties Operating Partnership, L.P. [Member] | Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Limited partners', units outstanding	23,763,797	23,763,797
ARC Properties Operating Partnership, L.P. [Member] | Common Stock [Member] | Limited Partner [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Limited partners', units outstanding	23,763,797	23,763,797

Net_Loss_Per_ShareUnit_Schedul1

Net Loss Per Share/Unit (Schedule of Earnings Per Share, Basic and Diluted, Operating Partnership) (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net loss from continuing operations attributable to the Operating Partnership	($29,970)	($291,444)
Less: dividends to preferred shares and participating securities	17,978	23,432
Net loss attributable to common stockholders/unitholders	-47,948	-314,876
Weighted average number of common units outstanding - basic and diluted	902,996,270	547,470,457
ARC Properties Operating Partnership, L.P. [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net loss from continuing operations attributable to the Operating Partnership	-30,873	-305,648
Less: dividends to preferred shares and participating securities	17,978	23,432
Net loss attributable to common stockholders/unitholders	($48,851)	($329,080)
Weighted average number of common units outstanding - basic and diluted	926,760,067	572,457,009
Basic and diluted net loss from continuing operations per unit attributable to common unitholders	($0.05)	($0.57)

Property_Dispositions_Narrativ

Property Dispositions (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
	property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties foreclosed upon	1
Foreclosed upon property net book value	$16,747,343,000		$17,258,438,000
Property Dispositions, 2014 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate gross sales price		60,300,000
Property Dispositions, 2015 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate gross sales price	271,800,000
Foreclosed Upon Real Estate Property [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Foreclosed upon property net book value	38,200,000
Disposition Fees for Sale of Properties [Member] | Affiliated Entity [Member] | Property Dispositions, 2015 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposition fees	$0
Single Family [Member] | Property Dispositions, 2014 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties disposed of (in number of single-tenant properties and multi-tenant properties)		16
Single Family [Member] | Property Dispositions, 2015 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties disposed of (in number of single-tenant properties and multi-tenant properties)	8
Multifamily [Member] | Property Dispositions, 2014 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties disposed of (in number of single-tenant properties and multi-tenant properties)		1
Multifamily [Member] | Property Dispositions, 2015 [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties disposed of (in number of single-tenant properties and multi-tenant properties)	3

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Provision (benefit) for income taxes	$2,074,000	($5,112,000)
Unrecognized tax benefits	0	0
Cole Capital Segment [Member]
Segment Reporting Information [Line Items]
Provision (benefit) for income taxes	220,000	-6,235,000
Cole Capital Segment [Member] | Other income net [Member]
Segment Reporting Information [Line Items]
Provision (benefit) for income taxes	200,000	-6,200,000
Real Estate Investment Segment [Member]
Segment Reporting Information [Line Items]
Provision (benefit) for income taxes	1,854,000	1,123,000
State income and franchise tax expense	$1,900,000	$1,100,000

Subsequent_Events_Completion_o

Subsequent Events - Completion of Acquisition of Assets (Details) (USD $)	3 Months Ended		1 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		5-May-15
	property		sqft
	sqft		land_parcel
	building
2015 Acquisitions [Member]
Number of Buildings [Roll Forward]
Number of buildings, acquisitions, including two land parcels	10
Number of buildings, ending balance	4,647
Area of Acquisitions [Roll Forward]
Approximate square feet of property, ending balance	102,133,000
Purchase Price of Acquisitions [Roll Forward]
Purchase price, ending balance	$17,610,187	[1]
Subsequent Event [Member] | 2015 Acquisitions [Member]
Number of Buildings [Roll Forward]
Number of buildings, ending balance			4,650
Area of Acquisitions [Roll Forward]
Approximate square feet of property, ending balance			102,141,000
Purchase Price of Acquisitions [Roll Forward]
Purchase price, ending balance			17,612,733	[1]
Subsequent Event [Member] | Property Acquisitions Subsequent to March 31, 2015 [Member]
Number of Buildings [Roll Forward]
Number of buildings, acquisitions, including two land parcels			2
Area of Acquisitions [Roll Forward]
Approximate square feet, acquisitions, including two land parcels			8,000
Purchase Price of Acquisitions [Roll Forward]
Purchase price, acquisitions, including two land parcels			2,546	[1]
[1]	Contract purchase price, excluding acquisition and transaction related costs.

Subsequent_Events_Credit_Facil

Subsequent Events - Credit Facility Repayments (Details) (USD $)	3 Months Ended		1 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	5-May-15	Dec. 31, 2014	Dec. 23, 2014	Jun. 30, 2014
Subsequent Event [Line Items]
Debt repayments on revolving credit facility	$0	$2,994,000,000
Credit facility	3,184,000,000			3,184,000,000
Credit Facilities [Member]
Subsequent Event [Line Items]
Credit facility	3,184,000,000			3,184,000,000
Credit Facilities [Member] | Senior Corporate Credit Facility [Member]
Subsequent Event [Line Items]
Credit facility	3,200,000,000				3,600,000,000
Term Loan Facility [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member]
Subsequent Event [Line Items]
Current borrowing capacity						1,000,000,000
Revolving Credit Facility, Dollar Denominated [Member] | Credit Facilities [Member] | Senior Corporate Credit Facility [Member]
Subsequent Event [Line Items]
Current borrowing capacity						2,600,000,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Debt repayments on revolving credit facility			590,000,000
Credit facility			$2,600,000,000

Subsequent_Events_Canceled_201

Subsequent Events - Canceled 2014 Multi-Year Outperformance Plan and Equity Awards (Details)	3 Months Ended		1 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	7-May-15	Apr. 23, 2015
		executive
Subsequent Event [Line Items]
Percent of annual long-term incentive awards that would be performance-based	66.67%
Calculation of performance-based shares, percent relative to peers	100.00%
2014 OPP [Member]
Subsequent Event [Line Items]
Number of former executives that had participated in the 2014 OPP		4
Subsequent Event [Member] | 2014 OPP [Member]
Subsequent Event [Line Items]
Units outstanding				0
Subsequent Event [Member] | Restricted Stock Units (RSUs) [Member]
Subsequent Event [Line Items]
Number of restricted shares granted			2,200,000