NEW YORK--(BUSINESS WIRE)--Investment firm American Realty Capital (“ARC”) announced today that proven industry leader Richard Arnitz has joined the company as Executive Director of its broker dealer subsidiary, Realty Capital Securities (“RCS”) to direct the company’s strategic sales initiatives which intend to raise $3 billion of equity capital for two of its sponsored offerings, American Realty Capital Healthcare Trust and American Realty Capital Retail Centers of America.
Mr. Arnitz’s appointment reunites him with many former colleagues of Grubb & Ellis now working for American Realty Capital and its affiliates. As announced recently, Lavea Thomas and Diana Keary became Director of National Accounts and Chief Marketing Officer, respectively, for Realty Capital Securities. Also previously employed by Grubb & Ellis, John Wilkins and Heather Gentry, are also currently with Realty Capital Securities as product managers for American Realty Capital Healthcare Trust and American Realty Capital Retail Centers of America, respectively. Steve Leathers, Vice President of Acquisitions for American Realty Capital Healthcare Trust, also worked for Grubb & Ellis. Overall, during 2011, Realty Capital Securities grew its professional employee base to 110 registered individuals which marked a milestone by raising over $3.4 billion since March 2008.
In his new role, Arnitz is specifically charged with all strategic sales initiatives in connection with American Realty Capital Healthcare Trust and American Realty Capital Retail Centers of America.
Commenting on the appointments, Michael Weil, CEO of Realty Capital Securities, said, “With the addition of Rich, we have now brought the leadership of Grubb & Ellis Capital Corporation and Realty Capital Securities together under one roof. These two organizations have raised over $2.2 billion for public non-traded healthcare offerings (Healthcare Trust of America (the former Grubb & Ellis Healthcare REIT), Grubb & Ellis Healthcare REIT II and American Realty Capital Healthcare Trust) over the last decade, accounting for virtually all of the equity dollars accumulated for this product category. Here again, is another concrete example of our ability to augment the intellectual capital of our organization by adding Rich’s acumen and experience to the mix. We are thrilled that, with the closing of Grubb & Ellis Capital Corporation’s fundraising platform, Rich and other Grubb & Ellis Capital Corporation executives have chosen to join our firm.”
Nicholas Schorsch, Chairman and CEO American Realty Capital, added, “We are excited that Rich has chosen to join us as we continuously seek and find better ways to improve the industry. Rich’s expertise and strategic vision will contribute meaningfully both to the product offerings we sponsor and to our ability to remain the preeminent open architecture distribution platform for non-traded public securities.”
“I intend to make American Realty Capital Healthcare Trust and American Realty Capital Retail Centers of America (“RCA”), industry leading investment products on Realty Capital Securities platform,” added Rich Arnitz. “My considerable experience in the non-traded channel gives me a unique perspective. I know the strength of these two investment teams and their track records and understand the resonance of the investment strategies. At the same time, RCS has built the most respected distribution platform in the industry. It is my intention to ensure the continued dominance of American Realty Capital in the direct investment channel. I am extremely motivated to join a company that shares my commitment to putting the needs of shareholders first."
Mr. Arnitz has 24 years of experience in the financial services industry. For the last four years he served as Chief Executive Officer and President of Grubb & Ellis Capital Corporation and Grubb & Ellis Securities. Mr. Arnitz was also employed as President of Cole Capital Markets. Over a 15-year period beginning in 1988, Rich held several positions on both the broker dealer and product manufacturing sides of American International Group.
American Realty Capital is a full-service real estate advisory firm that sponsors real estate investment programs. Since its inception in 2006, and through December 2011, affiliates of ARC have originated, structured and closed transactions investing over $3.4 billion in equity in over 753 properties (representing approximately $3.2 billion in assets). ARC’s affiliates act as advisors to nine publicly offered direct investment programs, eight of which are non-traded and six of which are currently selling securities to the public. RCS has more than 100 licensed professionals across its sales, operations and compliance areas. In just over three and one-half years, RCS has raised in excess of $3.4 billion for 10 public and seven private real estate investment trust and business development company offerings.
To arrange interviews with executives of American Realty Capital, please contact Tony DeFazio at 484-532-7783 or tony@defaziocommunications.com.