ARCTRUST’s Steuterman to Retire as Company Completes 2020 Succession Plan
James M. Steuterman
After 46 years in commercial real estate, James M. Steuterman is retiring at year’s end from his role as chairman of ARCTRUST Private Capital, as well as chief executive officer of ARCTRUST III Real Estate Investment Trust.
In addition to his executive roles, Steuterman has been an ARCTRUST board member since 1995 and will continue to be a director of all ARCTRUST companies, according to ARCTRUST Private Capital – the capital markets division of the ARCTRUST Group of Companies.
“I look forward to [James’] further contributions toward our strategies, growth, and future progress,” said Robert Ambrosi, ARCTRUST’s founder and chairman.
Along with Steuterman’s retirement, ARCTRUST also announced that it has completed both objectives of its ARCTRUST Vision 2020 plan. The first objective was to educate the public that, in addition to ARCTRUST being a well-respected net lease investor, ARCTRUST’s primary core business is actively funding multifamily, self-storage, industrial, and retail joint-venture developments.
The second objective was to implement a corporate succession plan within ARCTRUST Private Capital that included passing selected responsibilities to key, long-term dedicated ARCTRUST executives. Chris Wadelin has taken the position of CEO at ARCTRUST Private Capital, and Lisa Gunnels has become the company’s chief operating officer.
Steuterman will continue to advise on ARCTRUST Private Capital syndications.
Earlier this month, ARCTRUST Private Capital launched Project DC DuPont Circle LLC, a Regulation D private placement offering available to accredited investors under Rule 506(c). Project DC DuPont Circle is offering for sale up to $7 million of preferred membership interests. The company was formed to redevelop, lease-up, and operate two multifamily properties in the Washington, D.C. area: The Park Meridian and The Ravenel. And in March 2024, the company fully subscribed Project Rendon LLC, raising the full offering amount of $14.95 million, as well as an additional offering expansion of $500,000 for a total of $15.45 million in less than 120 days.
ARCTRUST Private Capital is an affiliate of the ARCTRUST Group of Companies, a vertically integrated real estate organization that over the past 39 years has been responsible for more than 500 transactions with an aggregate value more than $5 billion. ARCTRUST Private Capital focuses on delivering a diverse platform of investment solutions including real estate investment trusts, Regulation D offerings, Delaware statutory trusts and preferred equity and debt products, while also providing investor access to private sidecar and property-specific investments in joint ventures and co-sponsored offerings.
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