Executive Management

Nicholas S. Schorsch Chief Executive Officer

Mr. Schorsch currently serves as Chief Executive Officer of American Realty Capital Daily Net Asset Value Trust, Inc (“ARC Daily NAV”). American Realty Capital (“ARC”) is the parent company of Realty Capital Securities, LLC (“RCS”), Member FINRA/SIPC, a registered broker-dealer with an open architecture platform in the direct investment space. He holds executive management positions for all of the public, non-traded direct investment offerings sponsored by ARC and which are distributed by RCS. From September 2002 until August 2006, Mr. Schorsch served as CEO of American Financial Realty Trust (“AFRT”) (NYSE: “AFR”) which he took public in 2003. 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. Mr. Schorsch 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 in the greater Philadelphia area. He also served on the board of NAREIT from 2005 to 2006.


Michael Weil President, Chief Operating Officer

Michael Weil was appointed President of American Realty Capital in February 2012. In his new role, Mr. Weil will continue to uphold the company’s industry best practice standards and basic principles of risk diversification specific to net lease strategies, which targets real estate triple net leased, long-term, to primarily investment grade and credit worthy tenants, thereby providing strong risk-adjusted returns to investors. Mr. Weil will maintain an active leadership role with Realty Capital Securities (“RCS”), American Realty Capital’s affiliated broker dealer, as its Chairman and CEO. In this capacity, Mr. Weil will continue to provide strategic planning, management and operational oversight for the broker dealer and its team of experienced securities professionals.

Prior to assuming the helm of RCS, Mr. Weil served as Executive Vice President of American Realty Capital, where he was integral in sourcing and originating investment opportunities for American Realty Capital sponsored investment programs.

Mr. Weil was formerly 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. During his tenure at AFRT, his division increased occupancy and portfolio revenue through the sale of over 200 properties and leasing of over 2.2 million square feet, which greatly increased shareholder value.

Mr. Weil serves as President-elect and a member of the Board of Directors of the Real Estate Investment Securities Association (“REISA”), the leading alternative investments association providing education, networking and advocacy for members.


Peter M. Budko Executive Vice President and Chief Investment Officer

Mr. Budko serves as the Executive Vice President and Chief Investment Officer of ARC Daily NAV. He also serves as the CIO for ARC and part of the executive management team for a number of its public, non-traded direct investment offerings. Mr. Budko founded and formerly served as Managing Director and Group Head of the Structured Asset Finance Group, a division of Wachovia Capital Markets, LLC (NYSE: WB) from 1997 to 2006. As head of this group, Mr. Budko had responsibility for a diverse platform of structured financing products including, commercial asset securitization, net lease real estate financing and acquisitions, structured tax free exchange solutions and qualified intermediary services for real estate exchange investors. While at Wachovia, Mr. Budko acquired over $5 billion of net leased real estate assets. From 1987-1997, 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. In addition to his broad real estate acquisition, structuring and financing expertise, Mr. Budko has significance experience with corporate credit underwriting and the financing and placement of a variety of debt structures.

 


Nick Radesca Chief Financial Officer

Mr. Radesca, has served as the chief financial officer and treasurer of American Energy Capital Partners, LP’s general partner since October 2013. Mr. Radesca has served as chief financial officer of American Realty Capital Trust V, Inc. (“ARCT V”), the ARCT V advisor and the ARCT V property manager since January 2014. Mr. Radesca has served as chief financial officer and treasurer of ARC Realty Finance Trust, Inc. (“ARC RFT”) and the ARC RFT advisor since January 2013. Mr. Radesca has also served as chief financial officer and treasurer of Business Development Corporation of America (“BDCA”) and the BDCA advisor since February 2013. Mr. Radesca was appointed as secretary of BDCA in June 2013. Prior to joining American Realty Capital in December 2012, Mr. Radesca was employed by Solar Capital Management, LLC, from March 2008 to May 2012, where he served as the chief financial officer and corporate secretary for Solar Capital Ltd. and its predecessor company, and Solar Senior Capital Ltd., both of which are publicly traded business development companies. From 2006 to February 2008, Mr. Radesca served as the 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, Mr. Radesca 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 the California State University, East Bay.