Nicholas Sloan "Nick" Schorsch (born March 2, 1961) is an American entrepreneur, investor, and philanthropist. Schorsch is the Chairman, CEO, and co-founder of the investment services firm American Realty Capital. Early life Schorsch was born in Philadelphia, Pennsylvania, to Irvin G. Schorsch, Jr., and Anita (née Ulick) Schorsch. He worked for his family's scrap metal business starting at the age of 17, while attending Drexel University full-time, before taking over ownership of the business. He grew the business to millions of dollars in revenue and sold it for $50 million at age 23. He next founded Thermal Reduction Corporation, a metal product manufacturing business. Over ten years he built up the company through a series of mergers and acquisitions, eventually selling his interest in 1994. Early career In 1995, he and his wife Shelley co-founded the Jenkintown-based American Financial Resource Group, which originally acquired operating companies in the printing, label, and financial services sector. Within two years, the company diversified into the acquisition of commercial real estate properties. In 1998, Schorsch learned of a merger between CoreStates Financial Corporation, a bank with whom he did business, and First Union Corporation. As a result of the pending merger, 106 of CoreStates' bank branches were set to close. Upon hearing this, Schorsch offered to buy every (vacant) bank branch building. He recalled in a 2005 interview in The New York Times, "They [the bank] thought I was a crazy man." The $22.3 million deal was completed within 37 days, and within 12 months he sold or leased 95% of the properties. In 2002, American Financial Resource Group became American Financial Realty Trust, or AFRT. Schorsch served as the company's President, CEO, and Vice Chairman of the Board of Trustees, listing it publicly on the New York Stock Exchange in 2003. Shortly after, Schorsch was dubbed "The Bankers Landlord" by The Philadelphia Inquirer. In 2006, Schorsch left AFRT. AR Capital and American Realty Capital Trust Schorsch moved to New York City in 2007 where he, along with William M. "Bill" Kahane, founded the investment services firm American Realty Capital, later renamed AR Capital as the sponsor expanded into alternative investments vehicles other than commercial real estate. Shortly thereafter, the AR Capital partnership expanded to include Michael Weil, President and Chief Operating Officer, Peter Budko, Executive Vice President and Chief Investment Officer, and Brian Block, Executive Vice President and Chief Financial Officer. AR Capital's