{"id":1004092898,"date":"2014-03-19T06:37:35","date_gmt":"2014-03-19T14:37:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004092898"},"modified":"2022-12-01T04:42:11","modified_gmt":"2022-12-01T12:42:11","slug":"arc-nyrr-appoints-prez-cfocoo","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/arc-nyrr-appoints-prez-cfocoo\/","title":{"rendered":"ARC NYRR Appoints Prez, CFO\/COO"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/i><\/p>\n

\"Happel\"<\/a>

Michael Happel<\/p><\/div>\n

American Realty Capital New York Recovery REIT, Inc., which is scheduled to go public later this year, has promoted Michael Happel to president and appointed Gregory Sullivan as its new CFO and COO.<\/p>\n

\u201cWe have repeatedly underscored the importance of identifying the right intellectual capital to lead each of our investment strategies so as to maximize value to our shareholders,\u201d Nick Schorsch, the company\u2019s CEO, said in a company statement. \u201cBy elevating Michael\u2019s role to that of president, and attracting a strong chief financial officer of the caliber of Greg Sullivan, we have placed New York Recovery in able hands as it secures listed status.\u201d<\/p>\n

Since the company\u2019s formation in 2009, Happel has served as its executive vice president and CIO. He has more than 20 years of experience successfully investing in real estate, including office, retail, multi-family, industrial, and hotel properties, as well as real estate companies.<\/p>\n

Previously, Happel worked at Morgan Stanley & Co., specializing in real estate and was co-head of acquisitions for the Morgan Stanley Real Estate Funds. While at MSREF, he was involved in acquiring more than $10 billion of real estate and related assets in MSREF I and MSREF II.<\/p>\n

Happel received a B.A. in economics from Duke University and a J.D. from Harvard Law School.<\/p>\n

Sullivan will come on board the company on April 21. He comes to NYRR from STAG Industrial, Inc., where he served as its CFO since its initial public offering in April 2011. Prior to STAG\u2019s formation, Sullivan served seven years on the board of managers of STAG Capital Partners, L.L.C. and STAG Capital Partners III, L.L.C.<\/p>\n

\u201cI am truly excited to become part of the New York Recovery REIT, and I look forward to contributing to the continuing successful construction and expansion of the business for the benefit of its investors,\u201d Sullivan said in the statement.<\/p>\n

Additionally, Sullivan served as executive vice president for corporate development for New England Development L.L.C. from 2002 to 2011, where he expanded and diversified NED\u2019s real estate and non-real estate private equity activities. He\u2019s also held positions at TrizecHahn Corporation, AEW Capital Management, M\/A-COM, Inc., and Smith Barney in New York.<\/p>\n

Sullivan received his Bachelor of Science degree from the University of Vermont and his Master of Business Administration degree from The Wharton School of the University of Pennsylvania.<\/p>\n

\u201cAs New York Recovery REIT continues to assess the various strategic initiatives which the company may utilize to harvest shareholder value, following its successful closing of its $1.5 billion initial public offering, an executive with Greg\u2019s talent, leadership skills and experience will be invaluable,\u201d Happel said in the statement. \u201cAlong with the company\u2019s board of directors, I have tremendous confidence in his ability to advance our vision of building the world\u2019s premier New York City-focused REIT.\u201d<\/p>\n

At the end of last year, NYRR acquired a $528.6 million fee simple interest in 1440 Broadway, a 25-story office building in the Times Square South submarket of Manhattan<\/a>, bringing its total assets north of $2.1 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

American Realty Capital New York Recovery REIT, which is scheduled to go public later this year, has promoted Michael Happel to president and appointed Gregory Sullivan as its new CFO and COO.<\/p>\n","protected":false},"author":451,"featured_media":1004092902,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004092898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest"],"acf":[],"yoast_head":"\nARC NYRR Appoints Prez, CFO\/COO - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/arc-nyrr-appoints-prez-cfocoo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ARC NYRR Appoints Prez, CFO\/COO\" \/>\n<meta property=\"og:description\" content=\"American Realty Capital New York Recovery REIT, which is scheduled to go public later this year, has promoted Michael Happel to president and appointed Gregory Sullivan as its new CFO and COO.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/arc-nyrr-appoints-prez-cfocoo\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-03-19T14:37:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-01T12:42:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Happel.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"120\" \/>\n\t<meta property=\"og:image:height\" content=\"150\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/arc-nyrr-appoints-prez-cfocoo\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/arc-nyrr-appoints-prez-cfocoo\\\/\"},\"author\":{\"name\":\"Keith Loria\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"headline\":\"ARC NYRR Appoints Prez, CFO\\\/COO\",\"datePublished\":\"2014-03-19T14:37:35+00:00\",\"dateModified\":\"2022-12-01T12:42:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/arc-nyrr-appoints-prez-cfocoo\\\/\"},\"wordCount\":527,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/arc-nyrr-appoints-prez-cfocoo\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/03\\\/Happel.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/arc-nyrr-appoints-prez-cfocoo\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/arc-nyrr-appoints-prez-cfocoo\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/arc-nyrr-appoints-prez-cfocoo\\\/\",\"name\":\"ARC NYRR Appoints Prez, CFO\\\/COO - 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