Two ARC Non-Traded REITs Reduce Board of Director Seats

This past week saw some members of the American Realty Capital family of companies making changes to their board of directors.

Non-traded REIT, American Realty Capital Global Trust, Inc. (ARC Global)’s board of directors said goodbye to Mr. Scott J. Bowman and Mr. Edward M. Weil, Jr. after receiving resignations from both men.

According to an SEC filing, “Neither Mr. Bowman nor Mr. Weil resigned pursuant to any disagreement with the Company.” Their resignation has reduced the number of directors constituting the entire board to three.

Mr. Weil, who has been a director since May 2012, will continue to serve as president, chief operating officer, treasurer, and secretary of ARC Global. Mr. Bowman has served as an independent director and chairman of the REIT’s audit committee since May 2012. The position of chairman of the audit committee will be taken over by Abby M. Wenzel.

In addition, Mr. Robert H. Burns and Mr. Edward M. Weil, Jr. resigned as members of the board of directors of American Realty Capital Trust V, Inc (ARC Trust V). The non-traded REIT now has three directors on its board of directors.

Mr. Weil served as a director since January 2013 and will continue to serve as president, chief operating officer, treasurer and secretary of ARC Trust V. Mr. Burns was as an independent director and a member of the audit committee since January 2013.