American Realty Capital Healthcare Trust, Inc. (ARC Healthcare) announced yesterday that it has appointed Benjamin T. Hatz as vice president of acquisitions.
Before joining the non-traded healthcare REIT, Mr. Hatz was the director of acquisitions for ProMed Properties, a real estate firm. Prior to ProMed, Mr. Hatz served as a Vice President at Citi Property Investors, the private-equity real estate investment division of Citigroup, where he originated and closed investments in various asset classes and locations.
The new appointment comes in preparation for ARC Healthcare’s plans to start trading on the NASDAQ on April 7, 2014.
ARC Healthcare’s chief executive officer Tom D’Arcy commented, “As ARC Healthcare moves forward with its NASDAQ listing application and positions itself for further growth, we are very cognizant of the requirement for a strong acquisition team.” He continued, “We are pleased to welcome Ben, who we think is an ideal candidate to spearhead this effort given his proven track record within the industry.”
ARC Healthcare’s portfolio consists of 141 healthcare properties across 27 states with an aggregate purchase price of $1.6 billion, and is made up of approximately 5.8 million rentable square feet.