Now the largest equity REIT on Nasdaq, American Realty Capital Trust listed Thursday, March 1, under the ticker ARCT. Chairman Nicholas Schorsch and CEO Bill Kahane explain their strategy. "The market is ripe for a net lease REIT to come into the marketplace," says Schorsch about the timing of the listing. Although the commercial mortgage-backed securities markets are "still challenged because volume is light," points out Schorsch, "the banks are outlending on a low leverage basis at very, very, very inexpensive rates." Adds Kahane, "We've taken advantage of the downdraft in the debt markets, but at the same time we are not reliant nor is the strategy on how CMBS trades." - Katie Roof
