Home News D’Arcy & Lange Resign Top Executive Posts with AR Capital Healthcare REITs

D’Arcy & Lange Resign Top Executive Posts with AR Capital Healthcare REITs

Healthcare Trust and American Realty Capital Healthcare Trust III, two publicly registered non-traded real estate investment trusts sponsored by AR Capital, announced that Thomas D’Arcy stepped down as chief executive officer, president and secretary of both companies. He also resigned from his roles as chief executive officer, president and secretary of the advisor and property manager of each REIT.

The boards of directors of both REITs appointed W. Todd Jensen, currently the executive vice president and chief investment officer of the companies, to serve as president. He will also serve as president of the advisor and property manager of the REITs.

Jensen resigned from his roles as executive vice president and chief investment officer. He also resigned from his role as executive vice president of the advisor and property manager of the REITs, but will continue to serve in his capacity as chief investment officer of each company’s advisor.

In conjunction with the D’Arcy departure, Edward Lange, Jr. stepped down as chief financial officer, chief operating officer and treasurer of Healthcare Trust and American Realty Capital Healthcare Trust III. He also resigned from his roles as chief financial officer, chief operating officer and treasurer of the advisor and property manager of each REIT. There were no disagreements between Lange and the companies.

According to filings with the SEC, there were no disagreements between the boards, D’Arcy and Lange. Both executives coincidentally departed to “pursue other opportunities.”

In connection with Lange’s and D’Arcy’s resignations, the boards appointed Katie Kurtz to serve as chief financial officer, treasurer and secretary of the companies. She will also serve as chief financial officer, treasurer and secretary of the advisor and property manager of the REITs.

Kurtz has served as the chief financial officer, treasurer and secretary of American Realty Capital-Retail Centers of America and the ARC RCA advisor since November 2015. She currently serves as the chief accounting officer of Realty Finance Trust and as a vice president of AR Capital. She previously served as chief financial officer, treasurer and secretary of Business Development Corporation of America II, as chief financial officer and treasurer of Crossroads Capital, Inc. (formally BDCA Venture) and as chief accounting officer for Business Development Corporation of America.

Kurtz is a certified public accountant in New York State, holds a bachelor’s degree in accountancy and German from Wake Forest University and a master’s degree in accountancy from Wake Forest University.

In other recent news, American Realty Capital Healthcare Trust III notified investors that it has temporarily suspended its distribution reinvestment plan. As a result, the distribution payable on January 5th will be paid in cash and no DRIP shares will be issued. The company said that it “expects to resume the DRIP for the February 5th distribution payment date, at which time, DRIP shares will be issued in accordance with [the] original distribution election.”