Bulldog Investors announced 5.84% passive stake in American Realty Capital Properties, Inc. (ARCP) on November 1st. According to the SEC disclosure, Bulldog Investors has built a brand new position of 424 thousand shares in ARCP.  ARCP is a new free-standing equity REIT, and stock began trading at $12.50 on September 7th on NASDAQ. Bulldog Investors might regard ARCP’s recently downturn as an opportunity. ARCP has lost 16% since its IPO, and is now trading at $10.50.

Bulldog Investors is a value oriented investment management firm targeting on sophisticated and high net worth investors. The firm rigorously analyzes and focuses on undervalued investment opportunities. The firm prefers to take activist measure to enhance its investments.

American Realty Capital Properties, Inc. focuses on acquisition of single tenant, freestanding commercial real estate that is net leased on a medium-term basis. Per Yahoo! Finance, the company invests in office, warehouse, and retail properties. The company was founded in 2010 and is based in New York City, New York.