(Bloomberg) -- American Realty Capital Properties, the biggest U.S. owner of single-tenant properties, said its financial statements are inaccurate and replaced its chief financial officer and chief accounting officer.

ARCP will reduce its adjusted funds from operations by $12 million for the three months ended March 2014 and $10.9 million for the three months ended June 2014, according to a statement today. Brian Block quit as chief financial officer and will be replaced by Michael Sodo, and Gavin Brandon was named chief accounting officer in place of Lisa McAlister, ARCP said.

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