UNLOCK THE POWER OF THE VAULT

CEO and Chief Investment Officer of American Realty Capital New York City REIT Resign

March 20, 2017

newsalert

CEO and Chief Investment Officer of American Realty Capital New York City REIT Resign

March 20, 2017 | by James Sprow | Blue Vault

Meeting Room + Skyline

On March 10, 2017, Michael A. Happel resigned as the chief executive officer, president and secretary of American Realty Capital New York City REIT, Inc., effective as of the business day immediately following the filing of the Company’s Annual Report on Form 10-K for the period ending December 31, 2016. The Company reported that Mr. Happel’s resignation was not the result of any disagreement with the Company. Mr. Happel has advised the Company that he will no longer be responsible for any part of any registration statement filed by the Company pursuant to and consistent with 15 U.S.C.§ 77k(b)(l). Effective March 31, 2017, Mr. Happel will also no longer be an officer or employee of the Company’s advisor or its affiliates.

Effective upon Mr. Happel’s resignation, the Company’s board of directors appointed Edward M. Weil, Jr. to serve as chief executive officer, president and secretary of the Company. Mr. Weil has served as the executive chairman of the Company’s board of directors since November 2015 and will continue in such capacity following this appointment.

Mr. Weil also is the chief executive officer and a non-controlling member of AR Global Investments, LLC (“AR Global”), the parent of the Company’s sponsor.

On March 10, 2017, Patrick A. O’Malley resigned as the chief investment officer of the Company, effective as of that day. The Company reported that Mr. O’Malley’s resignation was not the result of any disagreement with the Company. Mr. O’Malley is no longer an officer or employee of the Company’s advisor or its affiliates

didyouknow_sponsorfocus-green

Learn more about AR Global on our Sponsor Focus page. 

Click Here

 

Go Back
John E. Moriarty, ChFC
December 2015
February 3, 2016

I have been in the financial services industry for 20 years and our firm provides an education platform that gets clients to “think differently” about their financial picture.  For many years we have communicated to clients the need to diversify their portfolios using alternative asset classes and more specifically, private non-traded investments.  Due diligence on these types of financial vehicles is essential and when I learned about Blue Vault in 2010, our firm immediately began using their material as a tool to build confidence in the minds of our advisors on which alternatives to recommend to clients.  I am impressed with the way Blue Vault continues to add value to their subscribers and I view their publication as a tremendous resource in today’s complex world.