Broad Experience
Phillips Edison-ARC is managed by a seasoned team of retail real estate and investment professionals with expertise in finance, acquisition, deal structure, management, dispositions, leasing and other relevant disciplines.
About Us
Our Team
EXECUTIVE MANAGEMENT
Jeffrey S. Edison, Co-Chairman of the Board and Chief Executive Officer, Phillips Edison-ARC
Mr. Edison, together with Michael C. Phillips, founded Phillips Edison & Company in 1991 and has served as a principal since 1995. From 1991 to 1995, Mr. Edison was employed by Nations Bank's South Charles Realty Corporation, serving as a Senior Vice President from 1993 until 1995 and as a Vice President from 1991 until 1993. He was employed by Morgan Stanley Realty Inc. from 1987 until 1990 and The Taubman Company from 1984 until 1987. Mr. Edison received his bachelor's degree in mathematics and economics from Colgate University in 1982 and a master's degree in business administration from Harvard Business School in 1984.
Michael C. Phillips, Co-Chairman of the Board, Phillips Edison-ARC
Mr. Phillips has served as a principal of Phillips Edison & Company since 1991. Prior to forming Phillips Edison, he was employed by Biggs Hypershoppes, Inc., as Vice President from 1989 until 1990, by May Centers as Senior Development Director from 1988 until 1989, and by The Taubman Company as Development Director from 1986 until 1988 and as a leasing agent from 1984 until 1986. Mr. Phillips received his bachelor’s degree in political science in 1977 from the University of Southern California.
John Bessey, President, Phillips Edison-ARC
Mr. Bessey served as Chief Investment Officer for Phillips Edison & Company from 2005 to 2010. During that time, he managed the placement of more than $1.2 billion in 140 individual shopping centers comprising over 14,000,000 square feet. Prior to that, he served Phillips Edison as Vice President of Development from May 1999, starting the ground-up development program for the company. He started and completed more than 25 projects which included Walgreens, Target, Kroger, Winn Dixie, Safeway and Wal-Mart. Prior to joining Phillips Edison, Mr. Bessey was employed by Kimco Realty Corporation as a Director of Leasing from 1995, by Koll Management Services as Director of Retail Leasing and Development from 1991, and by Tipton Associates as Leasing Manager from 1988. Prior to entering retail real estate in 1988, he worked in the hospitality industry as a Convention Sales Director for the Cincinnati Convention and Visitors Bureau and for Hyatt Hotels in a number of sales management positions in Minneapolis and Cincinnati. Mr. Bessey received his bachelor's degree in hotel and restaurant management from the University of Wisconsin-Stout in 1981.
Richard J. Smith, Chief Financial Officer, Phillips Edison-ARC
Mr. Smith was named Chief Financial Officer for Phillips Edison & Company in February 2010. From 1996 to 2009, he served as Chief Financial Officer for Ramco Gershenson Properties Trust, a publicly-traded REIT that primarily owns, develops, acquires, manages and leases community shopping centers. Previously Mr. Smith was Vice President of Financial Services of The Hahn Company from January to May 1996; Chief Financial Officer and Treasurer of Glimcher Realty Trust, an owner, developer and manager of community shopping centers and regional and super-regional malls, from 1993 to 1996; and Controller and Director of Financial Services of The Taubman Company, an owner, developer and manager of regional malls. Mr. Smith began his career as a Certified Public Accountant in the Detroit office of Coopers and Lybrand from 1972 to 1978.
R. Mark Addy, Chief Operating Officer, Phillips Edison-ARC
Mr. Addy served as Chief Operating Officer of Phillips Edison & Company from 2004 to 2010, after two years as Senior Vice President. Prior to joining Phillips Edison, he practiced law with Santen & Hughes in the areas of commercial real estate, financing and leasing, construction, mergers and acquisitions, and general corporate law from 1987 to 2002. He served as President of Santen & Hughes from 1996 to 2002.
Hal Scudder, Chief Investment Officer, Phillips Edison & Company, Ltd.
Prior to being named Chief Investment Officer of Phillips Edison & Company in 2009, Mr. Scudder was Senior Vice President of PECO Capital from 2007 to 2009 and Vice President of Western Acquisitions from 2005 to 2007. He previously held several positions at The Taubman Companies, including Vice President of Development from 1994 to 1996, Vice President and Chief Financial Officer of The Taubman Investment Company from 1992 to 1994, Assistant to the Chief Financial Officer from 1989 to 1992, and Leasing Agent and Manager from 1985 to 1988.
INDEPENDENT DIRECTORS
Leslie Chao
Mr. Chao retired as Chief Executive Officer of Chelsea Property Group, a subsidiary of Simon Property Group, Inc. (NYSE: SPG), in 2008. Previously he served in various senior capacities at Chelsea, including President and Chief Financial Officer, from 1987 through its IPO in 1993 (NYSE: CPG) and acquisition by Simon in 2004. Chelsea is the world’s largest developer, owner and manager of premium outlet centers, with properties in the United States, Japan, Korea and Mexico. Prior to Chelsea, Mr. Chao was a Vice President in the treasury group of Manufacturers Hanover Corporation (a New York bank holding company now part of JPMorgan Chase & Co.), where he was employed from 1978 to 1987. He is a non-executive director of Value Retail PLC, a leading developer of outlet centers in Europe, and from 2006 to 2008 served as an independent non-executive director of The Link REIT, the first and largest public REIT in Hong Kong. He received an AB from Dartmouth College in 1978 and an MBA from Columbia Business School in 1986.
Ethan Hershman
Mr. Hershman is CEO and Co-Chairman of Canusa Hershman Recycling LLC, formed in 2002 through the merger of Canusa Corporation’s fiber division and Hershman Recycling Company, Inc. He played a managing role in the merger of the two companies, resulting in an increase in sales of $40.0 million from $75.0 million in 2003 to $115.0 million in 2007. From 1986-2002, he served as President and CEO of Hershman Recycling Inc., directly managing all brokerage recycling offices throughout the United States and responsible for business development, investments and contractual arrangements. Throughout his career, Mr. Hershman has co-founded a number of successful companies including: Newport CH International LLC, an international trading company focused on the purchasing and direct export sale of wastepaper for the recycling industry, with annual sales over $350.0 million; Evergreen Fibers, Inc, a marketer of containerboard, with annual sales over $100.0 million; and Alpco Waste Systems Inc., a commercial and residential trash hauling and recycling company, sold to Republic Services (NYSE: RSG) in 1998.
Ronald K. Kirk
Mr. Kirk has been President and CEO of Kirk Horse Insurance, LLC (KHI) of Lexington, Kentucky, since 1981. KHI is Managing Underwriter for horse insurance for North American Specialty Insurance Company (NAS). NAS is a wholly-owned subsidiary of Swiss Reinsurance-America. Mr. Kirk is also Chairman and President of Pivotal Insurance Company, Ltd., of Hamilton, Bermuda. He was formerly Chairman of the Board of Trustees of the national Thoroughbred Owners and Breeders Association. He received an MBA from Harvard Business School in 1968, with a concentration in Finance.
Paul J. Massey, Jr.
Mr. Massey began his career at Coldwell Banker Commercial Real Estate Services in Midtown Manhattan, first as the head of the market research department and next as an investment sales broker. Together with Partner Robert A. Knakal, whom he met at Coldwell, he then founded what has become New York City's largest investment property sales brokerage firm. With 150 sales professionals serving more than 200,000 property owners, Massey Knakal Realty Services is ranked New York City's #1 property sales company in transaction volume by the CoStar Group, a national, independent real estate analytics provider. With more than $2 billion in annual sales, Massey Knakal also ranks as one of the nation's largest privately owned real estate brokerage firms. Firm services include brokerage, consulting and investment analysis, professional arbitration and valuation. In 2007, Mr. Massey was the recipient of the Real Estate Board of New York’s prestigious Louis B. Smadbeck Broker Recognition Award. He also serves as Chairman for REBNY’s Ethics and Business Practice Subcommittee, is Director of Commercial Board of Directors of REBNY, is an active member of the Board of Trustees for the Lower East Side Tenement Museum and serves as a chair or member of numerous other committees. Mr. Massey graduated from Colgate University with a Bachelor of Arts degree in economics.