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Our Advantage

Our investors and tenants benefit from a number of qualities that set us apart in the real estate investment market:

Wealth of Experience:
Nicholas S. Schorsch was the founder and former President, CEO and Vice-Chairman of American Financial Realty Trust ("AFR"). AFR went public in June 2003 in what was then the second largest real estate investment trust initial public offering ("IPO") in U.S. history, raising over $800 million. Three years later, AFR was an industry leader, with approximately $4.27 billion in assets, 1,110 properties in more than 37 states, over 35.0 million rentable square feet, 175 employees, and a portfolio consisting of such noteworthy tenants as Wachovia, Bank of America, BB&T, Charter One, and Citizens Bank.

William M. Kahane has served on the board of directors of two New York Stock Exchange real estate companies: American Financial Realty Trust and Catellus Development Corporation. He chaired the Catellus Board and the Finance Committee for AFR. In addition, Mr. Kahane was a partner at Morgan Stanley & Co in its real estate group, where he ran real estate investment banking businesses in the Western U.S., Asia, and Europe. Prior to joining Morgan Stanley, Bill was a real estate lawyer.

From AFR's IPO in June 2003 to August 2006, when Messrs. Schorsch and Kahane resigned from AFR to form American Realty Capital ("ARC"), AFR had acquired more than 1,500 properties with over 33 million rentable square feet, at an initial cost of $5.1 billion. AFR sold approximately 360 properties for approximately $850 million, resulting in a net gain of approximately $127 million. The prior performance of Mr. Messrs. Schorsch and Kahane is not necessarily indicative of the results that we will achieve. Therefore, you should not assume that you will experience returns, if any, comparable to those experienced by investors in such prior real estate programs.

High Standards for Tenants:
We only do business with investment grade and other creditworthy tenants, thereby substantially reducing the risk of rental defaults. We work hard to maintain positive, long-term, and mutually constructive relationships with our tenants, thus providing better security for our investors.

Investment Diversity:
We focus on constructing a portfolio of properties that are diverse across a number of dimensions, including geography, industry type, lease duration, mortgage maturities, financing terms and tenancy. This diversification helps to mitigate risk for our investors.

The Market For Net Leased Assets:
As capitalization rates increase due to the additional supply of retail properties, continuing corporate growth and a shortage of equity and debt capital, we believe that the pricing of net leased assets to buyers will continue to improve.