Rendell on board of merging real estate firm

By Laurie Bennett

October 23, 2013 at 9:14am

Among those with a stake in the major real estate merger announced Wednesday is former Pennsylvania Gov. Ed Rendell.

Ed Rendell
Ed Rendell

Rendell is a director of American Realty Capital Properties, which is buying Cole Real Estate Investments for $11.2 billion, to create a huge real estate investment trust.

His stock holdings, according to the company’s most recent proxy statement, are valued at $128,000.

American Realty, which went public in 2011, owns commercial properties in 48 states, including Pennsylvania.

Rendell, formerly mayor of Philadelphia and DNC chairman, is a frequent guest on MSNBC. He is also special counsel at Ballard Spahr law firm.

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