NEW YORK CITY-Following its SEC filing in late August to raise up to $1.5 billion for a healthcare REIT, American Realty Capital on Wednesday got the ball rolling with two key hires. ARC and its affiliated broker-dealer Realty Capital Securities tapped John Wilkins and Heather Gentry, both formerly of Grubb & Ellis, to assist in the rollout of the new venture, known as American Realty Capital Healthcare Trust.
Targeting medical office properties across the US, ARCHT marks the fourth in a series of sector-specific non-traded REITs launched by the ARC group of companies. In 2007, American Realty Capital Trust was launched, followed two years later by American Realty Capital New York Recovery REIT and Phillips Edison—ARC Shopping Center REIT.
Wilkins joins the healthcare REIT as its chief marketing officer, after an eight-year stint as senior regional VP for Triple Net Properties/Grubb & Ellis Securities. There, he was responsible for raising equity for four non-traded REITs and numerous private placement programs, including 1031 transactions. Previously, he worked as an SVP in Jones Lang LaSalle’s investment banking group.
“We couldn’t be more pleased that John Wilkins has agreed to join us,” says Nick Schorsch, ARC’s chairman and CEO, in a release. “John is a seasoned real estate executive and securities professional with a broad strategic perspective and a comprehensive understanding of the non-traded REIT channel. He will prove enormously helpful to RCS as we commence our strategic marketing efforts for American Realty Capital Healthcare Trust.”
As VP of marketing at RCS, Gentry will focus on overall product and company marketing strategies, focusing first on the healthcare REIT. Previously, she worked at Grubb & Ellis Realty Advisors, where she served most recently as the marketing director for the company’s real estate-related investment products.
According to its Aug. 27 SEC filing for the healthcare venture, ARC believes it is now possible to buy high-quality commercial real estate, including medical office buildings and healthcare-related facilities, “at a discount to replacement cost and with significant potential for appreciation.” The REIT may invest in real estate equity in other real estate entities, and originate or invest in real estate debt. It has no plans to buy undeveloped land or make acquisitions outside the US.
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