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American Finance Trust buys 32 properties for $70M in Q2

American Finance Trust Inc. said in its second-quarter earnings release that it bought 32 properties in the period for $70 million.

The single-tenant real estate investment trust added that, as of July 15, its forward pipeline includes 21 properties for a total contract purchase price of $38.4 million.

In the second quarter, the company sold an additional 452,600 shares of series A preferred stock, generating $11.3 million in gross proceeds as a result of the exercise of the underwriters' option to acquire additional shares in a March offering and through its at-the-market program.