The new REIT is modeled after the ARC Corporate Realty Trust, which ARC formed in 1993. The ARC Corporate assets were strategically sold between 2006 and 2007, prior to the downturn of the real estate market.
Robert J. Ambrosi, chairman and CEO of ARC Properties and ARCTrust, tells GlobeSt.com, "ARCTrust is in a unique position because we are experienced in both acquisition and development of net lease properties. Unlike a pure financial company, ARCTrust brings tenant knowledge to every acquisition."
Since its formation in January, the REIT has acquired or developed several properties including, CVS Edgewater, Wells Fargo in Washington, Firestone in Allentown and Walgreen's in Manalapan. The company is actively seeking new acquisitions and select preferred developers that it can work with to expand its development program.
ARC Properties was formed 25 years ago by Robert J. Ambrosi and Marc Perel and has been responsible for the acquisition and development of more than 200 properties with an aggregate value in excess of $2 billion.
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