David S. Kay was most recently President and CEO of American Realty Capital Properties, the largest net lease REIT in the world. As President he oversaw nearly $30 billion of net lease real estate throughout the country. David was also one of the founders of Capital Automotive and was the Company’s Chief Investment Officer & Chief Financial Officer. Capital Automotive is the nation’s leading specialty finance company for automotive retail real estate. Under the direction of Mr. Kay, Capital Automotive completed its initial public offering in 1998 raising $370 million and completed nearly $3 billion of real estate acquisitions in the following severn years. During 2004, Mr. Kay completed a restructuring of the Company’s balance sheet in excess of $1 billion and received investment grade ratings from Moody’s Investor Service and Standard & Poor’s. In December 2005, Mr. Kay led the Company through the largest REIT privatization totaling nearly $4 billion. In 2009, and 2001, Mr. Kay oversaw two restructurings totaling approximately $3.7 billion of the Company’s debt.
Mr. Kay was named the Greater Washington Entrepreneur of the Year by Ernst and Young, and was also named a National Finalist from over 400 regional recipients in the 2003 competition.
Prior to forming Capital Automotive in 1997, Mr. Kay was employed by the public accounting firm of Arthur Andersen LLP in Washington, D.C. for approximately ten years. While at Arthur Andersen LLP, Mr. Kay provided clients with consultation regarding mergers and acquisitions, business planning and strategy, and equity financing. He also has extensive experience in capital formation, roll-up transactions, and public offerings.
Mr. Kay was a member of the Board of Summit Hotel Properties, Inc. (NYSE: INN), a premium-branded limited-service and select-service hotel investment company. He is a member of the Executive Advisory Board of the Business School and a member of the Board of the Center for Entrepreneurship at James Madison University. He is an avid endurance athlete and has completed nearly 50 marathons, ultra marathons, and Ironmans including the World Championships in Kona Hawaii. He is also very active in many charitable foundations and organizations.