Business Context and Reporting Period
This Form 8-K is a current report filed by ARC Realty Finance Trust, Inc. on May 22, 2013, regarding events occurring on May 16, 2013. The filing addresses a change in senior management under Item 5.02. Note: The request metadata references "Franklin BSP Realty Trust, Inc.," but the filing text explicitly identifies the registrant as "ARC Realty Finance Trust, Inc."
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and contains no financial performance data.
Material Changes
- Appointment: Boris Korotkin was appointed as Executive Vice President, effective May 16, 2013.
- Resignation: Imran Ahmed resigned from his capacity as Executive Vice President on May 16, 2013.
- Related Party Transactions: The filing states there are no related party transactions involving Mr. Korotkin reportable under Item 404(a) of Regulation S-K.
Management Commentary and Background
Management appointed Mr. Korotkin to bolster the Company's management team. He will serve until his successor is duly elected and qualified. Mr. Korotkin brings over 15 years of experience in the commercial real estate debt industry. His background includes:
- Senior Vice President at American Realty Capital (January 2013 – May 2013).
- Vice President at American Realty Capital (April 2008 – December 2012), where he arranged and closed over $3.5 billion in corporate credit facilities, senior mortgages, and mezzanine financings.
- Vice President of Transaction Structuring and Analysis at American Financial Realty Trust (January 1999 – March 2008).
- Previous roles as a controller for Universal Packaging Corp. and an auditor for Ford Motor Credit Company.
Investor Verification Checklist
- Verify the correct registrant name (ARC Realty Finance Trust, Inc. vs. Franklin BSP Realty Trust, Inc.) to ensure the correct entity is being analyzed.
- Confirm the effective date of the leadership transition (May 16, 2013).
- Review subsequent filings to determine if Mr. Korotkin's role was permanent or interim, as the text states he serves "until his successor is duly elected."
- Check for any undisclosed related party transactions not captured in this specific Item 5.02 disclosure.