American Realty Capital Global Trust Is American Realty Capital's Sixth Fund
to Eliminate the Payment of Asset Management Fees in Cash
NEW YORK, Jan. 22, 2013
NEW YORK, Jan. 22, 2013 /PRNewswire/ --American Realty Capital Global Trust,
Inc. ("ARC Global") announced today that its board of directors and management
mutually agreed to eliminate the payment of asset management fees in cash to
its advisor, effective with the quarter ended March 31, 2013. Instead of
paying asset management fees in the form of cash or restricted stock as
previously approved, ARC Global's advisor will receive operating partnership
units ("OP units"), which will constitute profits interests and will be
forfeited unless a performance hurdle is met. Going forward, the OP units
would be received on a quarterly basis, subject to the approval of ARC
Global's board of directors.
The OP units will only vest to the extent 100% of shareholder capital is
returned plus payment to investors of an annual 6% cumulative, pre-tax,
non-compounded return on the capital contributed by investors.
"American Realty Capital continues to implement best practices in all of its
products as ARC Global is now our sixth product to subordinate asset
management fees and eliminate the payment of those fees in cash and restricted
stock," stated Nicholas S. Schorsch, Chairman and Chief Executive Officer of
About American Realty Capital
Founded in 2006, American Realty Capital ("ARC") is a full-service investment
management firm providing advisory services to retail and institutional
investors. ARC is an active sponsor and manager of public and private real
estate investments, a business development company and other investment
products. Collectively, ARC's senior team of seasoned professionals has
acquired and managed over $10 billion of real estate, as well as $5 billion of
corporate sale-leasebacks and net leased properties.
About Moor Park Capital Partners LLP
Moor Park Capital Partners LLP ("Moor Park"), founded in 2006, is a UK limited
liability partnership and is regulated by the FSA. Headquartered in London,
Moor Park is a private real estate firm which concentrates on commercial
property investment in Europe and has approximately £2.7 billion of real
estate assets currently under management. Moor Park provides a wide range of
services to its clients, including, among others, acquisition, development,
asset, property and facility management, leasing services, centralized
corporate support services and financing services. The partners of Moor Park
are Gary Wilder, Shemeel Khan & Jagdeep Kapoor and together have a combined 60
years plus of experience and have structured and executed in excess of £20
billion of real estate transactions over their careers internationally.
ARC Global is a publicly registered, non-traded real estate investment program
that intends to qualify as a real estate investment trust for the taxable year
ended December 31, 2012. Additional information about ARC Global can be found
on its website at www.arcglobaltrust.com.
The statements in this press release that are not historical facts may be
forward-looking statements. These forward-looking statements involve risks and
uncertainties that could cause the outcome to be materially different. In
addition, words such as "anticipate," "believe," "expect" and "intend"
indicate a forward-looking statement, although not all forward-looking
statements include these words.
For more information about this announcement, please contact Tony DeFazio at
484-342-3600 or firstname.lastname@example.org.
SOURCE American Realty Capital Global Trust, Inc.
Contact: Anthony J. DeFazio, Diccicco Battista Communications,
email@example.com, +1-484-342-3600; or Brian S. Block, EVP & CFO, American
Realty Capital Global Trust, Inc., firstname.lastname@example.org, +1-212-415-6500
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