American Realty Capital has changed its name to AR Capital, reflecting its expanded role in creating and distributing direct investments outside its traditional base of real estate offerings.
Michael Weil, former executive vice president of AR Capital, has been named its president. Weil will be responsible for the acquisitions, asset management, property management, leasing, and brokerage aspects of the firm's business.
Founded in 2006 as a full-service real estate investment management firm, AR Capital is currently the sponsor of nine public real estate companies and a business development company.
The development of Realty Capital Securities (RCS), AR Capital's affiliated broker-dealer, has been a key element of the firm's success. Weil, current CEO of RCS, will maintain an active role with RCS as its chairman.
AR Capital has made a number of significant achievements the past year including the successful closing of its flagship offering by raising $1.7 billion in one of its publicly registered, non traded real estate programs. AR Capital also completed the $70 million initial public offering of one of its programs, and continues to add experienced professionals to its management team.
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