American Realty Capital Properties, Inc. (ARCP) announced changes to its management and corporate governance. As previously announced on December 15, 2014, Nick Schorsch has stepped down as Executive Chairman of ARCP and from the ARCP Board of Directors and the Boards of Directors of the non-traded REITs managed by Cole Capital. In addition, David Kay has stepped down as Chief Executive Officer of ARCP and from the ARCP Board of Directors.

Lisa Beeson has also stepped down as President and Chief Operating Officer. William Stanley has been appointed Lead Independent Director and Chairman of the Nominating and Corporate Governance Committee. Effective immediately, Mr. Stanley will serve as Interim Chief Executive Officer and Interim Chairman of the Board until permanent replacements are named.

Bruce D. Frank has joined the Audit Committee and will assume the role of Committee Chairman. Thomas A. Andruskevich has joined the Compensation Committee and assumed the role of Committee Chairman.