Real Estate Executive Glenn Rufrano Leading the Pack to Become ARCP’s New CEO

Veteran real-estate executive Glenn Rufrano has emerged as the leading candidate to become chief executive of American Realty Capital Properties Inc., according to people familiar with the search process.

Although terms of employment haven’t been finalized, Mr. Rufrano has been interviewed for the position and the company regards him as the lone finalist, these people said.

Several other real-estate executives, including Thomas Nolan , CEO of Spirit Realty Capital , and Craig MacNab, CEO of National Retail Properties Inc., also have been approached, but they told the company they aren’t interested, these people said.

Mr. Rufrano currently serves as chairman and chief executive of O’Connor Capital Partners, a privately held real-estate investment firm. He has served as chief executive of Australian shopping-center owner Centro Properties Group and real estate services firm Cushman & Wakefield Inc., among other positions.

ARCP said Monday its top priority is finding a new CEO and Chairman after the departures of David Kay and Nicholas Schorsch, who left last year after the company disclosed accounting irregularities. The company said it would name a new management team in the “near term.”

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