NEW YORK CITY-Richard Arnitz, the former president & CEO of Grubb & Ellis Capital Corp., has joined American Realty Capital as executive director of its broker-dealer subsidiary, Realty Capital Securities, the company unveiled Monday. In his new role, Arnitz will direct the company’s strategic sales initiatives, which intend to raise $3 billion of equity capital for two of its sponsored offerings, American Realty Capital Healthcare Trust and American Realty Capital Retail Centers of America.

“My considerable experience in the non-traded channel gives me a unique perspective,” he says, in a statement. “I know the strength of these two investment teams and their track records and understand the resonance of the investment strategies. At the same time, RCS has built the most respected distribution platform in the industry. It is my intention to ensure the continued dominance of American Realty Capital in the direct investment channel. I am extremely motivated to join a company that shares my commitment to putting the needs of shareholders first.”

A 24-year veteran of the financial services industry, Arnitz has served in several senior management positions throughout his career. As president and CEO of Grubb & Ellis Capital Corp. and Grubb & Ellis Securities for the last four years, Arnitz was also employed as president of Cole Capital Markets. Over a 15-year period beginning in 1988, he held several positions on both the broker dealer and product manufacturing sides of American International Group.