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Chairman of the Board and Chief Executive Officer
Nicholas S. Schorsch is Co-Founder, Chairman and Chief Executive Officer of AR Capital. Mr. Schorsch also formerly served as Executive Chairman of the board of directors of RCS Capital Corporation (“RCS Capital”) (NYSE: RCAP). In April of 2014, New York REIT (NYSE:NYRT), a company for which Mr. Schorsch served as Chief Executive Officer, listed on the New York Stock Exchange and became the first listed REIT ever which acquired real estate exclusively in New York City. Mr. Schorsch also served as Chairman of American Realty Capital Healthcare Trust, a healthcare-focused REIT which listed on NASDAQ at $10.00 per share in April of 2014 and then was purchased by Ventas, Inc. less than two months later for $11.33 per share. Previously, Mr. Schorsch also served as Chairman of American Realty Capital Trust, Inc. (“ARCT”) (NASDAQ: ARCT), a net lease REIT he co-founded in 2007 and listed on the NASDAQ in March 2012. Just ten months later in January 2013, ARCT completed its merger with Realty Income Corporation (NYSE: O).
From September 2002 until August 2006, Mr. Schorsch served as CEO of American Financial Realty Trust (“AFRT”), which he took public in 2003 (NYSE: AFR). Mr. Schorsch has over 30 years of business experience operating and building U.S. companies, including 20 years of real estate experience. He is the recipient of the Ernst & Young Entrepreneur of the Year® 2003 Award and the Ernst & Young Entrepreneur of the Year® 2011 Lifetime Achievement Award for his influence on the direct investment industry. Mr. Schorsch also serves on the board of the National Association of Real Estate Investment Trusts (“NAREIT”) and Investment Program Association (“IPA”)
William M. Kahane, along with Nicholas S. Schorsch, is co-founder of AR Capital. Mr. Kahane has held and currently holds board positions for several of the publicly-registered, non-traded companies currently sponsored by AR Capital. Mr. Kahane is also former Chief Executive Officer of RCS Capital. Mr. Kahane has been active in the structuring and financial management of commercial real estate investments for close to 40 years. He began his career in 1974 as a real estate lawyer, practicing in both the public and private sectors. From 1981 to 1992, Mr. Kahane was in the investment banking department of Morgan Stanley, specializing in real estate; he became a managing director in 1989. From 1997 until 2005, Mr. Kahane was on the Board of Directors of Catellus Development Corp (NYSE: CDX), a real estate investment and development company, and served as non-executive chairman from 1999 to 2001. From 2003 to 2006, Mr. Kahane was a trustee at AFRT, during which time Mr. Kahane served as Chairman of the Finance Committee of AFRT’s Board of Trustees; Mr. Schorsch was the CEO of that company. Mr. Kahane received a B.A. from Occidental College, a J.D. from the University of California, Los Angeles School of Law, and an MBA from Stanford University’s Graduate School of Business. He is a member of the Board of Trustees of Temple Emanu-El in New York City.
President & Chief Operating Officer
Edward M. Weil, Jr. serves as President and Chief Operating Officer of AR Capital. Additionally, he serves as Chief Executive Officer of RCS Capital. Prior to being appointed CEO of RCS Capital, Mr. Weil served as President, Treasurer, Secretary and Director of RCS Capital. Mr. Weil also formerly served as President and Chief Operating Officer for a number of the publicly registered, non-traded REIT offerings sponsored by AR Capital, the private equity firm of which he is Partner. He also formerly served as Executive Vice President of AR Capital, where he supervised the origination of investment opportunities for all AR Capital-sponsored investment programs. Prior to the establishment of AR Capital, Mr. Weil served as Senior Vice President of Sales and Leasing for American Financial Realty Trust (AFRT), where he was responsible for the disposition and leasing activity for a 37.3 million square foot portfolio. In addition to his duties at RCS Capital and AR Capital, Mr. Weil served as President of the Board of Directors of the Real Estate Investment Securities Association (REISA), a leading alternative investments association providing education, networking and advocacy for members.
Executive Vice President & Chief Investment Officer
Peter M. Budko serves as Executive Vice President and Chief Investment Officer of AR Capital and a number of the publicly registered, non-traded direct investments AR Capital sponsors. He also formerly served as Executive Vice President and Chief Investment Officer of RCS Capital. Since 2012, Mr. Budko has served as President and Chief Operating Officer of Business Development Corporation of America, a publicly registered, non-traded business development company. From 2008 to 2012, he acted as Executive Vice President and Chief Investment Officer of ARCT. Mr. Budko has been active in the underwriting, financing and placement of a wide variety of corporate debt, equity and real estate structures for over 25 years. Prior to the formation of ARC, Mr. Budko founded and served as managing director and group head of the Structured Asset Finance Group, a division of Wachovia Capital Markets, LLC, from February 1997 to January 2006. The Wachovia Structured Asset Finance Group assembled and invested in real estate net leased to corporate tenants. While at Wachovia, Mr. Budko acquired over $5 billion of net leased real estate assets. From 1987 to 1997, Mr. Budko worked in the Corporate Real Estate Finance Group at NationsBank Capital Markets (predecessor to Bank of America Securities), becoming head of the group in 1990.
Executive Vice President and Chief Financial Officer
Nicholas Radesca serves as Executive Vice President and Chief Financial Officer of AR Capital, and in the same capacity for a number of the publicly registered, non-traded alternative investments AR Capital sponsors. Prior to joining AR Capital in December 2012, Mr. Radesca was employed by Solar Capital Management, LLC, from March 2008 to May 2012, where he served as Chief Financial Officer and Corporate Secretary for Solar Capital Ltd. and its predecessor company, Solar Senior Capital Ltd., both of which are exchange-traded business development companies. From 2006 to 2008, Mr. Radesca served as Chief Accounting Officer at iStar Financial Inc. (“iStar”), a publicly traded commercial REIT, where his responsibilities included overseeing accounting, tax and SEC reporting. Prior to iStar, he served in various senior accounting and financial reporting roles at Fannie Mae, Del Monte Foods Company, Providian Financial Corporation and Bank of America. Mr. Radesca has more than 20 years of experience in financial reporting and accounting and is a licensed certified public accountant in New York and Virginia. Mr. Radesca holds a B.S. in accounting from the New York Institute of Technology and an M.B.A. from California State University, East Bay.
Mr. Galloway, now General Counsel for AR Capital, comes to the firm from Cadwalader Wickersham & Taft, LLP, where he represented investment banks, major financial institutions and commercial banks in commercial real estate finance transactions. Mr. Galloway received his BA from John Carroll University and his law degree from the University of Richmond. He began his career at Harris Beach, LLP, in the commercial real estate development and finance practice group, based in Rochester, New York. While at Cadwalader, he was seconded with Credit Suisse real estate finance and securitization group for a four month special project.
Chief Securities Counsel - Deputy General Counsel
Mr. Tanaka, now Chief Securities Counsel — Deputy General Counsel for AR Capital, works as securities and corporate counsel focusing on real estate securities matters involving publicly-offered traded and non-traded REIT's, general capital markets concerns, corporate governance, compliance, and SEC and blue sky regulations. He joined the company in January 2011 as Assistant General Counsel and was most recently employed by Proskauer Rose LLP as a corporate associate in real estate capital markets group, capital markets group, and Latin American practice group. He focused on capital markets, structured finance, debt restructuring, bank finance, project and lease finance, corporate securities and governance, and mergers and acquisitions. Prior to that position, he worked on the global capital markets desk at Morgan Stanley in London, UK, and with Mayer, Brown, Row & Maw LLP. He attended Columbia College of Columbia University receiving a Bachelor of Arts in history and political science, recived a Master of Arts from The University of Chicago focusing on international relations with a specialization in human rights and international law, and received his Juris Doctor from Northwestern University School of Law with a concentration in international law in 2002.
Senior Vice President
As Senior Vice President of AR Capital, Mr. Korotkin is responsible for structuring and underwriting real estate acquisitions, working with debt lenders and is actively involved in all stages of the investment process. Prior to joining AR Capital, Mr. Korotkin served as Vice President – Transaction Structuring and Analysis for American Financial Realty Trust where he led the analysis team that was responsible for underwriting complex and highly structured real estate acquisitions and financing transactions in the United States and Europe. Prior to American Financial Realty Trust, Mr. Korotkin was Controller for Universal Packaging Corp. and Auditor for Ford Motor Credit Company.