Moody's: JPMC 2011-C5 Ratings Unaffected by the Proposed Sale, Replacement Guarantor and Environmental Indemnitor and Change in Property Management of Suntrust Portfolios I and II

New York, March 07, 2014 -- Moody's Investors Service (Moody's) was informed that American Realty Capital Operating Partnership V, L.P. will acquire and assume direct beneficial interests in borrowers ARC HR5ST1001, LLC (f/k/a Inland American ST Portfolio, L.L.C.), ARC HR5STP1002, LLC (f/k/a Inland American ST Florida Portfolio, L.L.C.), ARC HR5ST2001, LLC (f/k/a Inland American ST Portfolio JP2, L.L.C.), and ARC HR5STP2002, LLC (f/k/a Inland American ST Florida Portfolio JP2, L.L.C.)) of 151 net leased properties that constitute Suntrust Portfolios I and II. American Realty Capital Trust V, Inc. owns direct beneficial interests in American Realty Capital Operating Partnership V, L.P. Additionally, this transaction entails a change in property management firms from Inland American Retail Management, LLC to American Realty Capital Properties V, LLC. Finally, American Realty Capital Operating Partnership V, L.P. and American Realty Capital Trust V, Inc. will be named the new guarantor and new environmental indemnitor, replacing Inland American Real Estate Trust, Inc. The proposed Sale and Transfer will become effective upon satisfaction of the conditions set forth in the governing documents.

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