American Realty Capital CEO Nicholas S. Schorsch Receives Ernst & Young Entrepreneur Of The Year® 2011 Lifetime Achievement Award in Greater Philadelphia

Thu Jun 16, 2011 12:27pm EDT

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American Realty Capital CEO Nicholas S. Schorsch Receives Ernst & Young Entrepreneur Of The Year® 2011 Lifetime Achievement Award in Greater Philadelphia

American Realty Capital today announced that CEO Nicholas S. Schorsch received the Ernst & Young Entrepreneur Of The Year® 2011 Lifetime Achievement Award in the Greater Philadelphia region. According to Ernst & Young LLP, the awards program recognizes entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities. Schorsch was selected by an independent panel of judges, and the award was presented last evening at a gala event at the Loews Hotel, Philadelphia.

“I am honored to be recognized by Ernst & Young with the Entrepreneur Of The Year Lifetime Achievement Award for Philadelphia,” said Nick Schorsch, chief executive officer of American Realty Capital. “As a native Philadelphian and Drexel University alumnus, I couldn’t be more gratified to have won this respected award for lifetime achievement. Working alongside my father, I learned at an early age to appreciate the value of thinking 'outside the box'. Today, thanks to the tireless efforts and extraordinary level of commitment of my partners and colleagues, in three years American Realty Capital has become a leading sponsor of real estate investment trusts (REITs) in the direct investment industry. We are committed to enhancing the product category by making the industry more accountable, more transparent, and more responsive. Through our leadership, we expect investors and sponsors will continue to benefit from this growing marketplace.”

American Realty Capital is a full-service real estate advisory firm that sponsors direct investment programs with a focus on real estate. The company currently sponsors nine public, non-traded securities offerings. These include American Realty Capital Trust, which acquires freestanding, single-tenant properties, net leased long-term to investment-grade and other creditworthy tenants; American Realty Capital New York Recovery REIT, an offering that acquires institutional quality office and retail properties in New York City; American Realty Capital Healthcare Trust, an offering that will acquire a diversified portfolio of real estate properties, focusing primarily on medical office buildings, hospitals, assisted living facilities and skilled nursing facilities; American Realty Capital-Retail Centers of America, an offering that will focus on the acquisition of lifestyle centers, power centers and large needs-based shopping centers; and Phillips Edison-ARC Shopping Center REIT, which invests in grocery anchored shopping centers; Business Development Corporation of American, a business development company investing in private middle market companies and American Realty Capital Trust III, which will also acquire freestanding, single-tenant properties, net leased long-term to investment-grade and other creditworthy tenants following the completion of ARCT.

The Ernst & Young Entrepreneur Of The Year Program celebrates its 25th anniversary this year. The program has expanded to recognize business leaders in more than 140 cities and more than 50 countries throughout the world.

As a Greater Philadelphia award winner, Schorsch is now eligible for consideration for the Ernst & Young LLP Entrepreneur Of The Year 2011 national program. Award winners in several national categories, as well as the Entrepreneur Of The Year overall National Award winner, will be announced at the annual awards gala in Palm Springs, California, on November 12, 2011. The awards are the culminating event of the Ernst & Young Strategic Growth Forum®, the nation’s most prestigious gathering of high-growth, market-leading companies, which will be held November 9–13, 2011.

Sponsors

Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards are pleased to have the Ewing Marion Kauffman Foundation as a national sponsor.

In Greater Philadelphia, local sponsors include SAP; ParenteBeard LLC; Sovereign Santander; Ballard Spahr LLP; Morgan Lewis; Pepper Hamilton LLP; Jefferson Wells International; Murray, Devine & Company, Inc.; NSM Insurance Group; SolomonEdwardsGroup LLC; Merrill Corp; and Philadelphia Business Journal.

About American Realty Capital

American Realty Capital is a real estate finance and investment firm formed by Nicholas S. Schorsch and William M. Kahane. The two were behind the growth of American Financial Realty Trust, where they acquired over 1,500 properties valued at more than $5 billion. In the last five years, American Realty Capital’s executive team has collectively negotiated and closed on over $7 billion of bank branch and net-leased real estate. For more information, visit www.americanrealtycap.com.

About Ernst & Young Entrepreneur Of The Year®

Ernst & Young Entrepreneur Of The Year® is the world’s most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 140 cities in more than 50 countries.

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 141,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US. For more information about our organization, please visit www.ey.com.

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Tony DeFazio, 484-532-7783
tony@defaziocommunications.com