American Realty Capital Continues to Build its Debt Capital Markets and Corporate Finance Team With Recent Hires
NEW YORK, Jan. 18, 2013 /PRNewswire/ -- American Realty Capital ("ARC" or the "Company") today announced two senior management hires for its debt capital markets and corporate finance team, Donald MacKinnon and Nicholas Radesca. Messrs. MacKinnon and Radesca will join Peter M. Budko, Andrew Winer and Boris Korotkin, further augmenting ARC's bench of corporate finance professionals. The senior members of ARC's finance team have over 90 years of collective experience in the debt markets and join ARC's principals who have extensive backgrounds in credit underwriting in connection with the acquisition and management of real estate.
In 2012, ARC's debt capital markets group arranged $1.8 billion of debt financing in connection with ARC's publicly traded and non-traded public direct investment programs. Already in January, this corporate finance team has arranged $850.0 million of debt financing in connection with the announced merger of American Realty Capital Properties, Inc. (NASDAQ: "ARCP") and American Realty Capital Trust III, Inc.
Mr. MacKinnon brings to the Company over 20 years of experience. He served as a Portfolio Manager of high yield credit sensitive commercial real estate debt products for a real estate advisory company and as a Managing Director at Nomura Securities International. There, he managed Nomura's North American Structured Credit Trading and Asset Finance businesses with an emphasis on commercial real estate and asset backed securities. Mr. MacKinnon also was the CEO and President of REALM, Inc. and a Co-Founder of the Commercial Mortgage Group and Manager of the European Asset Securitization Group at Donaldson, Lufkin & Jenrette.
Mr. Radesca, who recently joined ARC as a Senior Vice President and Chief Accounting Officer, also brings 20 years of experience in accounting and financial reporting, largely in connection with debt products. Mr. Radesca joined ARC in December 2012 from Solar Capital Ltd. and Solar Senior Capital Ltd., where he served as the Chief Financial Officer and Corporate Secretary of both of these publicly traded business development companies specializing in corporate lending. Prior to Solar Capital, Mr. Radesca was the Chief Accounting Officer at iStar Financial Inc., a publicly traded real estate investment trust that specializes in commercial real estate lending and corporate net lease financing. Mr. Radesca's financial services experience also includes senior accounting and financial reporting roles at Fannie Mae, Providian Financial and Bank of America Mortgage.
"Just as we've recently expanded our investment banking capabilities, these two hires strengthen a complementary dimension of our business, allowing us to optimize the capitalization of an asset or an enterprise with equal facility using equity and debt," added Nicholas S. Schorsch, Chairman of ARC. Mr. Schorsch continued, "Don MacKinnon and Nick Radesca will be instrumental in moving this aspect of our business forward."
The debt capital markets and corporate finance team are fully supported by ARC's investment banking, legal, accounting and operations departments. All of these groups work in unison to maximize shareholder value, align interests between stakeholders and management, and improve transparency.
ARC is a full-service real estate advisory firm founded in 2006 that sponsors real estate investment programs and provides advisory services to retail and institutional investors. ARC is an active sponsor and manager of public and private real estate investments, a business development company and other investment solutions. Collectively, ARC's senior team of seasoned professionals has acquired and managed over $10.0 billion of real estate, as well as $5.0 billion of corporate sale-leasebacks as of 2012.
SOURCE American Realty Capital