William M. Kahane serves as Chief Executive Officer, President, Chief Operating Officer and Secretary of American Realty Capital Daily Net Asset Value Trust, Inc. He has also held or currently holds executive positions for many 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; 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.
Peter M. 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.
Nicholas Radesca serves as Chief Financial Officer and Treasurer of American Realty Capital Daily Net Asset Value Trust, Inc. In addition, he 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 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.