About

Net Lease Experience

Executive Team

nick schorsch
Nicholas S. Schorsch
Chief Executive Officer

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Mr. Schorsch currently serves as Chairman and Chief Executive Officer of American Realty Capital Properties (“ARCP”) (NASDAQ: ARCP). Most recently, Mr. Schorsch served as Chairman of American Realty Capital Trust (NASDAQ: ARCT), a publicly traded net lease REIT he co-founded in 2007 and listed on the NASDAQ in March 2012. In January 2013, ARCT completed its merger with Realty Income (NYSE: O). In 2007, Mr. Schorsch co-founded AR Capital, a full service, alternative investment advisory firm and ARCP’s external advisor. He currently serves as AR Capital’s Chairman and CEO and also holds CEO and board positions for all of the publicly registered, non-traded investments sponsored by AR Capital. From September 2002 until August 2006, Mr. Schorsch served as CEO of American Financial Realty Trust (“AFRT”), which he took public in 2003 under NYSE ticker symbol ‘AFR’. Mr. Schorsch served as CEO and President of American Financial Resource Group (“AFRG”) from 1995 to 2002. AFRG was AFRT’s predecessor and a private equity firm founded for the purpose of acquiring operating companies and other assets. Through AFRG and its successor corporation, AFRT, Mr. Schorsch has executed in excess of 1,000 acquisitions, acquiring both businesses and real estate property with transactional value of approximately $5 billion. Prior to AFRG, Mr. Schorsch served as President of a non-ferrous metal product manufacturing business, Thermal Reduction, where he successfully built the business through mergers and acquisitions and ultimately sold his interests to Corrpro (NYSE) in 1994. Mr. Schorsch has over 20 years of real estate experience. He was dubbed the “Banker’s Landlord” by the Philadelphia Inquirer, and is the recipient of the Ernst & Young Entrepreneur of the Year® 2003 Award for the greater Philadelphia area, and the Ernst & Young Entrepreneur of the Year® 2011 Lifetime Achievement Award for real estate. He also served on the board of the National Association of Real Estate Investment Trusts (NAREIT) from 2005 to 2006.

david s kay
David S. Kay
President

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David S. Kay is one of the founders of Capital Automotive and was the Company's Chief Investment Officer & Chief Financial Officer. Capital Automotive is the nation's leading specialty finance company for automotive retail real estate. Under the direction of Mr. Kay, Capital Automotive completed its initial public offering in 1998 raising $370 million and completed nearly $3 billion of real estate acquisitions in the following seven years. During 2004, Mr. Kay completed a restructuring of the Company's balance sheet in excess of $1 billion and received investment grade ratings from Moody's Investor Service and Standard & Poor's. In December 2005, Mr. Kay led the Company through the largest REIT privatization totaling nearly $4 billion. In 2009, and 2001, Mr. Kay oversaw two restructurings totaling approximately $3.7 billion of the Company's debt. Mr. Kay was named the Greater Washington Entrepreneur of the Year by Ernst and Young, and was also named a National Finalist from over 400 regional recipients in the 2003 competition. Prior to forming Capital Automotive in 1997, Mr. Kay was employed by the public accounting firm of Arthur Andersen LLP in Washington, D.C. for approximately ten years. While at Arthur Andersen LLP, Mr. Kay provided clients with consultation regarding mergers and acquisitions, business planning and strategy, and equity financing. He also has extensive experience in capital formation, roll-up transactions, and public offerings. Mr. Kay is a member of the Board of Summit Hotel Properties, Inc. (NYSE: INN), a premium-branded limited-service and select-service hotel investment company. He is a member of the Executive Advisory Board of the Business School and a member of the Board of the Center for Entrepreneurship at James Madison University. He is also very active in many charitable foundations and organizations.

lisa beeson
Lisa Beeson
Executive Vice President & Chief Operating Officer

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Ms. Lisa Beeson joined in October 2013 as Executive Vice President and Chief Operating Officer for ARCP. Prior to joining, Ms. Beeson held the position of Managing Director and Head of Global Real Estate M&A at Barclays, and previously occupied that same position at Lehman Brothers. Prior to joining Lehman Brothers, she was Managing Director at Morgan Stanley and Wachovia Securities. Over her 25 years of investment banking, Ms. Beeson has worked on transactions with an aggregate value exceeding $400 billion, including in excess of $150 billion in the lodging, gaming and various real estate sectors. Lisa has been the lead advisor on numerous net lease real estate transactions, including representing Spirit Realty Capital, Inc. in its acquisition of Cole Credit Property Trust II, Inc. and advising Corporate Property Associates 16 – Global Incorporated in its sale to WP Carey Inc. She currently works out of the New York office.

brian s block
Brian S. Block
Executive Vice President, Chief Financial Officer, Treasurer & Secretary

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Brian S. Block is Executive Vice President & Chief Financial Officer of ARCP. As Chief Financial Officer, he is responsible for all of the accounting, finance and reporting functions of the company. Mr. Block has also been instrumental in developing AR Capital's management and financial infrastructure and positioning the organization for growth. From 2008 to 2012, he served as Executive Vice President and Chief Financial Officer of ARCT. Prior to the formation of AR Capital, Mr. Block served as the Senior Vice President and Chief Accounting Officer of AFRT from 2002 to 2007. From 2000-2002, Mr. Block was the Chief Financial Officer of a venture capital-backed technology, before which he worked in public accounting at Ernst & Young and Arthur Andersen from 1994 to 2000. He is a certified public accountant and is a member of the American Institute of Certified Public Accountants and Pennsylvania Institute of Certified Public Accountants. Mr. Block has extensive experience in SEC reporting requirements and REIT tax compliance matters. He currently serves on the REIT Committee and Financial Standards Subcommittee of the IPA.

richard silfen
Richard A. Silfen
Executive Vice President & General Counsel

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Richard A. Silfen serves as General Counsel and Executive Vice President for American Realty Capital Properties. Mr. Silfen has more than 25 years of experience in corporate and securities law. Prior to his role at ARCP, Mr. Silfen headed the Capital Markets Group of Philadelphia-based law firm Duane Morris, LLP. where he practiced in the area of corporate law with concentrations in securities and mergers and acquisitions. Throughout his career, Mr. Silfen has advised publicly traded companies in connection with public and private debt and equity securities offerings. He has also advised numerous companies with regard to complex mergers and acquisition transactions and capital markets transactions, including several real estate investment trusts. Specifically, Mr. Silfen represented American Realty Capital Properties during its respective mergers with American Realty Capital Trust III, Inc. and American Realty Capital Trust IV, Inc., as well as Topaz Pharmaceuticals, Inc.’s stockholders in a sale to Sanofi-Pasteur and Diamond Offshore Drilling, Inc. in a $1.0 billion public offering of its senior notes. In addition, Mr. Silfen is experienced in assisting emerging and other businesses to develop plans for the growth and development of their businesses and technologies, including financing transactions, collaborative and strategic partnerships, and joint venture arrangements. Mr. Silfen has also worked with companies to facilitate public reporting and analysis of operating results, advised on internal audit functions and other Sarbanes-Oxley compliance, and has worked with companies to support and enhance strategies for communication with security analysts and investors. Chambers USA: America's Leading Lawyers for Business has included Mr. Silfen in its editions since 2009 as one of the leading corporate lawyers in Pennsylvania for his advice on M&A, private equity and securities matters. Mr. Silfen has also been included in two corporate categories for Chambers listings: Corporate/M&A & Private Equity and Corporate/M&A: Securities. Mr. Silfen has also been listed in Pennsylvania Super Lawyers Rankings in 2011 and 2012. Mr. Silfen is a 1987 graduate of the University of Alabama School of Law and a graduate of Baylor University.

lisa mcalister
Lisa McAlister
Senior Vice President & Chief Accounting Officer

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Ms. Lisa McAlister joined in November 2013 as Senior Vice President and Chief Accounting Officer for ARCP. Lisa has over 25 years’ experience in senior financial roles in all aspects of financial and accounting operations, internal controls, information systems, treasury and investor relations for public companies in the private equity, real estate, financial services, healthcare and technology sectors. Prior to joining, she was managing director for PricewaterhouseCoopers, capital markets and accounting advisory services focused on asset management and real estate. Previously, she was Chief Operating Officer and Chief Financial Officer of Bank of America Merrill Lynch global private equity, Controller for KRR (formerly KKR – KPE), CFO of various software and internet companies and CFO of NYSE listed healthcare REIT. Lisa received her bachelors of accountancy from New Mexico State University and masters of business administration from Bentley University. Lisa has her Series 7 license and Certified Public Accountant in New York and Massachusetts. She is a member of the NY Society of CPAs, American Institute of Certified Public Accountants, (AICPA), National Association of Real Estate Investment Trusts (NAREIT), National Investor Relations Institute (NIRI), NY Private Equity CFO Association (NYPECFOA) and Financial Executives International (FEI).

Board of Directors

nicholas s schorsch
Nicholas S. Schorsch


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Mr. Schorsch currently serves as Chairman and Chief Executive Officer of American Realty Capital Properties (“ARCP”) (NASDAQ: ARCP). Most recently, Mr. Schorsch served as Chairman of American Realty Capital Trust (NASDAQ: ARCT), a publicly traded net lease REIT he co-founded in 2007 and listed on the NASDAQ in March 2012. In January 2013, ARCT completed its merger with Realty Income (NYSE: O). In 2007, Mr. Schorsch co-founded AR Capital, a full service, alternative investment advisory firm and ARCP’s external advisor. He currently serves as AR Capital’s Chairman and CEO and also holds CEO and board positions for all of the publicly registered, non-traded investments sponsored by AR Capital. From September 2002 until August 2006, Mr. Schorsch served as CEO of American Financial Realty Trust (“AFRT”), which he took public in 2003 under NYSE ticker symbol ‘AFR’. Mr. Schorsch served as CEO and President of American Financial Resource Group (“AFRG”) from 1995 to 2002. AFRG was AFRT’s predecessor and a private equity firm founded for the purpose of acquiring operating companies and other assets. Through AFRG and its successor corporation, AFRT, Mr. Schorsch has executed in excess of 1,000 acquisitions, acquiring both businesses and real estate property with transactional value of approximately $5 billion. Prior to AFRG, Mr. Schorsch served as President of a non-ferrous metal product manufacturing business, Thermal Reduction, where he successfully built the business through mergers and acquisitions and ultimately sold his interests to Corrpro (NYSE) in 1994. Mr. Schorsch has over 20 years of real estate experience. He was dubbed the “Banker’s Landlord” by the Philadelphia Inquirer, and is the recipient of the Ernst & Young Entrepreneur of the Year® 2003 Award for the greater Philadelphia area, and the Ernst & Young Entrepreneur of the Year® 2011 Lifetime Achievement Award for real estate. He also served on the board of the National Association of Real Estate Investment Trusts (NAREIT) from 2005 to 2006.

william kahane
William M. Kahane


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William M. Kahane serves as a board member for American Realty Capital Properties, Inc. Mr. Kahane, along with Mr. Schorsch, is a co-founder of ARC. Beginning with its formation in August 2007, Mr. Kahane served exclusively as President and Chief Operating Officer of American Realty Capital Trust (ARCT), focusing on the assemblage, capitalization and management of its real estate portfolio and became its CEO and Director in March 2012. He has also held board positions for some of the publicly registered, non-traded companies currently sponsored by AR 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 where 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), 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. Kahane received a B.A. from Occidental College, a J.D. from the University of California Los Angeles Law School, 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.

Independent Board of Directors

leslie d. michelson
Leslie D. Michelson


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Mr. Michelson has served as an independent director of American Realty Capital Properties (NASDAQ: ARCP) since October 2012. Since 2007, he has served as the Chairman and CEO of Private Health Management, a retainer-based primary care medical practice management company. Mr. Michelson is also a director of Molecular Insight Pharmaceuticals, Inc., a biotechnology company developing innovative diagnostic and therapeutic products for prostate cancer. He served as Vice Chairman and CEO of the Prostate Cancer Foundation, the world’s largest private source of prostate cancer research funding, from April 2002 until December 2006 and currently serves on its Board of Directors. Mr. Michelson served on the Board of Directors of Catellus from 1997 until 2004 when the company was sold to ProLogis. From April 2001 to April 2002, he was an investor in, and served as an advisor of, a portfolio of entrepreneurial healthcare, technology and real estate companies. From March 2000 to August 2001, he served as CEO and as a Director of Acurian, Inc., an internet company that accelerates clinical trials for new prescription drugs. Mr. Michelson served as an adviser of Saybrook Capital, LLC, an investment bank specializing in the real estate and health care industries from 1999 to March 2000. From June 1998 to February 1999, Mr. Michelson served as Chairman and co-CEO of Protocare, Inc., a manager of clinical trials for the pharmaceutical industry and disease management firm. From 1988 to 1998, he served as Chairman and CEO of Value Health Sciences, Inc., an applied health services research firm he co-founded. Mr. Michelson had been a director of Nastech Pharmaceutical Company Inc., a NASDAQ-traded biotechnology company focused on innovative drug delivery technology, from 2004 to 2008, of Highlands Acquisition Company, an AMEX-traded special purpose acquisition company, from 2007 to 2009, of G&L Realty Corp., a NYSE-traded medical office building REIT from 1995 to 2001, and of Landmark Imaging, a privately held diagnostic imaging and treatment company from 2007 to 2010. Additionally, since June 2004, he has been a director and Vice Chairman of ALS-TDI, a philanthropy dedicated to curing Amyotrophic Lateral Sclerosis (ALS). Mr. Michelson received his B.A. from The Johns Hopkins University in 1973 and a J.D. from Yale Law School in 1976.

scott bowman
Scott Bowman


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Mr. Bowman currently serves as an independent director of American Realty Capital Properties (NASDAQ: ARCP). He has over 20 years of experience in global brand and retail management in addition to retail store development. Since June 2012, Mr. Bowman has served as the Group President, Global Retail & International Business Development for The Jones Group Inc. (NYSE:JNY), a Fortune 500 Company. In this role, he is responsible for The Jones Group's global retail business as well as all international operations, licenses and strategic partnerships. Mr. Bowman founded Scott Bowman Associates in May 2009 and has served as its Chief Executive Officer since such time. Scott Bowman Associates provides global management, business development, retail market and network strategies, licensing, strategic planning and international strategy and operations support to leading retailers and consumer brands. From May 2005 until September 2008, Mr. Bowman served as President of Polo Ralph Lauren International Business Development where he was also a member of the Executive Committee and Capital Committees. From June 2007 until September 2008, Mr. Bowman served as Chairman of Polo Ralph Lauren Japan. During his time with Polo Ralph Lauren, Mr. Bowman led the effort to transform the company’s business in Asia from a licensed structure to a direct, integrated subsidiary of Polo Ralph Lauren. From 2003 to 2005, Mr. Bowman served as Founder and CEO of Scott Bowman Associates International Retail Consultancy. He served as an executive officer in two of LVMH Moet Hennessy Louis Vuitton subsidiaries from May 1998 until January 2003. From February 2001 until January 2003, Mr. Bowman served as the CEO of Marc Jacobs Int’l and from May 1998 until January 2001, he was the Region President of Duty Free Shoppers. Mr. Bowman has been the Chairman of the Board of Colin Cowie Enterprises, a multi-platform digital events and lifestyle company since its formation in March 2011. He was also a member of the boards of directors of Stewart Weitzman from February 2009 until April 2010 and The Health Back, a specialty and e-commerce retailer, from May 2004 until September 2007. Mr. Bowman received his B.A. from the State University of New York at Albany.

thomas andruskevich
Thomas A. Andruskevich




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Thomas A. Andruskevich previously served as an independent director of Cole from October 2008 until the closing of the Merger, as a member of its audit committee from May 2012 until the closing of the Merger and as chairman of its compensation committee and as a member of its corporate governance and nominating committee from June 2013 until the closing of the Merger. Currently, he is the chairman and chief executive officer of TAA Consulting, LLC and an operating partner for jewelry and timepieces at Marvin Traub Associates. Until July 2013, Mr. Andruskevich served as non-executive vice-chairman of Birks & Mayors, Inc., formerly Henry Birks & Sons, and chairman of Mayors Jewelers, Inc., a wholly owned subsidiary of Birks & Mayors, Inc. Mr. Andruskevich served as the president and chief executive officer of Birks & Mayors, Inc. from November 1996 until March 2012, when he retired. During that time, he orchestrated a merger of Mayors Jewelers, Inc. and Henry Birks & Sons in 2002 and a successful IPO of Birks & Mayors, Inc. in 2007. From 1994 to 1996, Mr. Andruskevich was president and chief executive officer of the clothing retailer Mondi of America, following a distinguished career at Tiffany & Co. from 1989 to 1994, which culminated in his appointment as executive vice president of international & trade of Tiffany & Co. in 1992. Mr. Andruskevich serves on the board of directors of Robbins Bros. Jewelry Acquisition Holdings, LLC. He has served as a member of the boards of directors of Birks & Mayors, Inc., Mayors Jewelers, Inc. and Jewelers of America from 2009 to 2012.

governor edward g. rendell
Governor Edward G. Rendell


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Governor Edward G. Rendell has served as an independent director of American Realty Capital Properties (NASDAQ: ARCP) since February 2013. Governor Rendell served as the 45th Governor of the Commonwealth of Pennsylvania from January 2003 through January 2011. As the Governor of the Commonwealth of Pennsylvania, he served as the chief executive of the nation’s 6th most populous state and oversaw a budget of $28.3 billion. He also served as the Mayor of Philadelphia from January 1992 through January 2000. As the Mayor of Philadelphia, he eliminated a $250 million deficit, balanced the city's budget and generated five consecutive budget surpluses. He was also the General Chairperson of the National Democratic Committee from November 1999 through February 2001. Governor Rendell served as the District Attorney of Philadelphia from January 1978 through January 1986. An Army veteran, he holds a B.A. from the University of Pennsylvania and a J.D. from Villanova Law School.

william g. stanley
William G. Stanley


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Mr. Stanley was appointed as an Independent Director of our company on October 27, 2009. Mr. Stanley also serves as an independent director of ARCT. Mr. Stanley is the founder and managing member of Stanley Laman Securities, LLC, a FINRA member broker-dealer, since 2004, and the founder and president of The Stanley-Laman Group, Ltd (SLG), a registered investment advisor for high net worth clients since 1997. Mr. Stanley serves on the Advisory Board of Highland Capital’s, High Cap Group. Highland Capital is a wholly owned subsidiary of National Financial Partners (NYSE:NFP). The Stanley-Laman Group has two separate groups within the organization, the Planning Group and the Investment Management Group. The Planning Group represents high worth families and family offices specializing in business continuity and estate planning using propriety computer models and tax planning techniques that have been researched, applied and refined over 30 years. SLG represents some of the wealthiest families in the world and has recently expanded its planning practice to international client matters. The Investment Management Group manages portfolios using proprietary trading and security selection techniques along with a global economic research. SLG acts as a separate account manager for other financial advisors nationally through Charles Schwab’s Institutional Separate Account Manager Platform. Mr. Stanley has earned designations as a Chartered Financial Consultant, Chartered Life Underwriter, and received his Masters Degree in Financial Services from the American College in 1997. Mr. Stanley served as an auditor for General Electric Capital from 1977 to 1979 and as a registered representative for Capital Analysts, Inc. of Radnor, Pennsylvania, a national investment advisory firm that specialized in sophisticated planning for high net worth individuals from 1979 to 1991. Mr. Stanley received a B.A. from Concord University and a Masters of Financial Services from The American College. He has also received the following designations: Chartered Life Underwriter from The American College; Chartered Financial Consultant from The American College. We believe that Mr. Stanley’s significant background in finance as well as his current role as a member of the board of directors of ARCT make him well qualified to serve on our Board of Directors.

scott sealy ARCP
Scott P. Sealy, Sr.


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Scott P. Sealy, Sr. previously served as an independent director of Cole from October 2008 until the closing of the Merger and as chairman of its corporate governance and nominating committee and as a member of its compensation and audit committees from June 2013 until the closing of the Merger. From January 2012 until April 2013, Mr. Sealy served as a member of the board of directors of Cole Credit Property Trust IV, Inc., a non-traded real estate investment trust advised by an affiliate of Cole, and as a member of its audit committee. Mr. Sealy has been a principal of Sealy & Company, Incorporated (“Sealy”), a real estate and investment company, since 1968 and has served as chairman of its board of directors since February 2000. Mr. Sealy provides strategic planning and business development for Sealy, which is in the business of acquisitions, repositioning and ground-up development of regional distribution and industrial facilities. During his tenure, Sealy and its affiliates have acquired or developed and sold over $1 billion of industrial real estate totaling approximately 31 million square feet. In 2008, Sealy entered into a $200 million joint venture with California State Teachers’ Retirement System. The joint venture, named SeaCal, pursues the acquisition and development of value-added industrial and office properties. Mr. Sealy is a member of the Society of Industrial and Office Realtors and has served as a chapter president, a member of its national board of directors and a member of its strategic planning committee.

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