PHOENIX, Jan. 11, 2017 /PRNewswire/ -- VEREIT, Inc. (NYSE: VER ) ("VEREIT" or the "Company"), a full-service real estate operating company with investment management capability, announced its transaction activity for the full year and quarter ending December 31, 2016. During the year, VEREIT sold approximately $1.14 billion of properties at an average cash cap rate of 6.9%, including $246.5 million in net sales of Red Lobster restaurants. The Company sold $394.9 million of assets in the fourth quarter. During 2016, VEREIT also acquired $100.2 million of properties at an average cash cap rate of 6.8%, excluding build-to-suit and development activity which totaled $22.0 million at an average cash cap rate of 8.7%. The Company purchased $80.2 million of assets in the fourth quarter of 2016.