"The accountant for eight nontraded real estate investment trusts managed by Nicholas Schorsch's privately held real estate manager, American Realty Capital, has resigned. Grant Thornton on Jan. 22 resigned as the independent registered public accounting firm for the eight REITs, including American Realty Capital Trust V, the last of the extremely popular ARC net lease REITs that Mr. Schorsch brought to the market after the financial crisis. Although the accounting firm resigned last week, the filings announcing the action weren't filed with the Securities and Exchange Commission until Wednesday."
[Investment News, 8-K]
Earlier: SEC to Open Inquiry Into American Realty Capital Properties’ Accounting [WSJ]
