Director leaving two Schorsch nontraded REITs

May 3, 2016

No reason given for why Robert Froehlich has decided not to run for re-election

May 2, 2016 @ 12:44 pm | By Bruce Kelly | Investment News

As nearly half-a-dozen Nicholas Schorsch-controlled nontraded real estate investment trusts move to consolidate, the boards of two of those REITs are losing one of their directors.

Robert Froehlich, an independent director for two REITs, Realty Finance Trust Inc., with $1.28 billion in assets, and Healthcare Trust Inc., with $2.27 billion in assets, is departing from the boards of those two companies, according to proxy statements for each company filed last Friday.

The companies failed to give any reasons why Mr. Froehlich was not running for re-election to the boards in the companies’ upcoming elections. The filings don’t reveal whether Mr. Froehlich is being forced out or leaving of his own volition.

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