Retirement of American Finance Trust and ARC New York City REIT’s CFO Nicholas Radesca
October 10, 2017 | James Sprow | Blue Vault
On October 5, 2017, Nicholas Radesca notified the boards of directors of American Finance Trust, Inc. (“AFT”) and American Realty Capital New York City REIT, Inc. (“ARCNYC”) that he intends to retire and therefore resign from his positions as chief financial officer (AFT) and interim chief financial officer (ARCNYC), secretary (AFT) and treasurer of the companies, and the companies’ respective advisors and property managers. Mr. Radesca’s resignations will be effective on the later of (i) November 15, 2017, and (ii) the day after the date the Companies file their Quarterly Reports on Form 10-Q for the quarter ended September 30, 2017. There were no disagreements between Mr. Radesca and the Companies or the Advisors. Mr. Radesca advised the Companies 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).
On October 9, 2017, the Boards of AFT and ARCNYC unanimously elected Katie P. Kurtz as chief financial officer, secretary and treasurer of the Companies, effective upon the effectiveness of Mr. Radesca’s resignation. Ms. Kurtz has also been appointed as chief financial officer, secretary and treasurer of the Advisors and the Property Managers, effective upon the effectiveness of Mr. Radesca’s resignation.
Ms. Kurtz, 37, has served as the chief financial officer, treasurer and secretary of American Realty Capital Healthcare Trust III, Inc. (“HT III”), the HT III advisor and the HT III property manager since December 2015. Ms. Kurtz has served as the chief financial officer, treasurer and secretary of Healthcare Trust, Inc. (“HTI”), the HTI advisor and the HTI property manager since December 2015. Ms. Kurtz previously served as the chief financial officer, treasurer and secretary of American Realty Capital-Retail Centers of America, Inc. (“RCA”) and the RCA advisor from November 2015 until the close of RCA’s merger with the AFT in February 2017. She previously served as chief financial officer, treasurer and secretary of Business Development Corporation of America II from August 2014 until December 2015, as chief financial officer and treasurer of Crossroads Capital, Inc. (f/k/a BDCA Venture, Inc.) from October 2014 until December 2015 and as chief accounting officer for Business Development Corporation of America from December 2013 until December 2015.
Learn more about AR Global on the Blue Vault Sponsor Focus page.
Blue Vault is just what advisors need to size up the different offerings in the nontraded REIT market. Just as importantly, it’s what the industry needs to encourage best practices among REITs.