American Realty Capital Properties raised its bid for Cole Credit Property Trust III to roughly $6.7 billion.

The company wants to create one of the biggest real estate investment trusts that leases space to single tenants. 

American Realty offered to buy Cole Credit for $5.7 billion in cash and stock last week, but Cole refused the offer, noting it was not in the best interest of its stockholders.

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3d rendering of a row of luxury townhouses along a street

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