Schorsch moves away from single-tenant REITs
Looks to new investments in New York
According to Bloomberg, Nicholas Schorsch’s New York-based AR Capital is switching gears away from its usual high profitable real estate investment trusts.
“That cycle is starting to wane,” Schorsch, in a telephone interview, said of nontraded single-tenant REITs. “Right now it’s a great opportunity. Net lease is fabulous and spreads are great, but a year from now, as the economy recovers we need to be in a more growth-oriented side of the business.”