NEW YORK CITY—Today, net-leased assets are the go-to choice for those looking to invest in real estate but who want stable, steady yields. But that wasn't always the case. The sector has grown from a small, seemingly complicated niche asset class to an accepted investment vehicle that, as of last year, generates some $50 billion in transaction volume.
For the April issue of Real Estate Forum, the editors, with input from net lease experts, identified two dozen individuals that are considered leaders in their field. Some of these Icons will be featured speakers at the 10th Annual RealShare Net Lease conference, to be held here tomorrow, April 16. The event, which is expected to attract more than 300 net lease professionals, will cover a variety of topics including dealmaking today, capital market conditions, sale-leaseback opportunities and the state of REITs.
Visit the RealShare Conference Series website for more information and to register as an attendee. Check back with GlobeSt.com this afternoon to see the rest of the Net Lease Icons.
RICHARD H. ADER
Richard Ader has been involved in net lease since 1968, certainly qualifying him as a sector icon. So much so that his is the “mind” that ALM Real Estate Media Group VP Michael Desiato will delve into during the special session, “Inside the Real Estate Mind,” at the RealShare Net Lease conference tomorrow. The founder of US Realty Advisors LLC serves as chairman of the firm's investment committee and is the senior acquisitions officer and portfolio manager. He has devised innovative and revolutionary net lease structures including the sandwich lease, stepped rents and accrual leases and has overseen the acquisitions and management of more than $18 billion of net lease real estate. But net lease isn't the only arrow in his quiver; Ader is also recognized as an expert in acquiring and operating over 20 million square feet of office, retail and industrial property as well as 32,000 residential units throughout the United States during his career.
BENJAMIN S. BUTCHER
Since Ben Butcher founded STAG Capital Partners' predecessor firm in 2003, the company has deployed approximately $1.9 billion of capital, representing the acquisition of 307 properties totaling some 52.4 million square feet in 186 individual transactions. The CEO, president and chairman of the board has overseen the growth of the firm and its affiliates. His list of titles includes member of its board of managers and management committees from 2003 to 2011. From 1999 to 2003, Butcher was engaged as a private equity investor in real estate and technology. His resume also includes a stint as a director at Credit Suisse First Boston's Principal Transactions Group and as a director with Nomura Asset Capital's CMBS Group. Butcher will be a speaker on RealShare Net Lease's REIT Power Panel, with fellow Icon Nick Schorsch.
W. KYLE GORE
Kyle Gore is a managing director and principal of CGA Capital Corp., which was previously a subsidiary of Legg Mason Inc. During his 23-year real estate career, he has led the structuring and closing of more than $12 billion in net lease-related financing transactions. A frequent speaker at net lease industry events, he has also been a managing director in RBS Greenwich Capital's Real Estate Finance Group. CGA and its affiliates originate, structure, fund and securitize commercial mortgages for net-lease properties and assist public and private institutional investors in the acquisition and disposition of asset-backed and mortgage-related products. He joined RBS Greenwich Capital after spending over 16 years with the broker-dealer subsidiary of Legg Mason. He has handled the net lease-backed financings for retail, office, distribution, industrial, governmental, manufacturing and special purpose properties located throughout the United States. Gore will moderate the Capital Markets Update session during RealShare Net Lease.
BARCLAY G. JONES III
Barclay Jones has been the executive vice president of investments for iStar Financial Inc. since 2000. Jones is responsible for jointly overseeing the publicly traded company's corporate loan and tenant lease investment activity. Previously, he was a principal with ACRE Partners LLC, a privately held firm that provides public and private companies with highly structured, value-added financing solutions for their facilities. From 1982-1998, Jones held various executive positions with W. P. Carey & Co., where he was responsible for originating more than $2 billion of sale-leaseback financing and over $1 billion in mortgage placements. He is a director of Spirit Airlines Inc. Since 2007, he has also been a member of the Dean's Advisory Council for the College of Art, Architecture, and Planning at Cornell University. Jones will be among the speakers on RealShare Net Lease's Capital Markets Update.
NICHOLAS S. SCHORSCH
Once dubbed the “Banker's Landlord” by the Philadelphia Inquirer, Schorsch founded American Realty Capital, a full-service real estate advisory firm, in 2006. The company operates four separate business units: ARC Trust, a non-traded public REIT; ARC Income Properties, privately placed notes; ARC Growth Fund, an opportunistic investment partnership that acquires vacant bank branches; and ARC Exchange, a company that structures real estate exchanges. Previously, Schorsch founded and had been chief executive officer and president of American Financial Realty Trust. AFR's strategy was to acquire, finance, and manage office buildings, operations centers, bank branches and other critical real estate assets net leased to tenants in the financial services industry. While at the helm of AFR, Schorsch acquired 1500 properties with a value of $5.7 billion and liquidated over 350 properties with a total sale value of $1.73 billion, resulting in a gain of $273 million. He is a former board member of NAREIT. Schorsch will be speaker on RealShare Net Lease's REIT Power Panel, with fellow Icon Ben Butcher.
Interested in seeing these experts in action? It isn't too late to register for RealShare Net Lease. Online registrations are available here. Walk-up registration is also available on-site at Convene, 730 Third Ave., 17th Floor, New York, NY 10017
For more net lease news and the remaining 19 Icons, sign up for Net Lease Leader, our new weekly email alert debuting tomorrow, April 16.
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