Spirit Realty Capital recruits Hughes as EVP and CFO

Spirit Realty Capital Inc, a real estate investment trust, has named Michael Hughes as executive vice president and chief financial officer. Hughes will begin at Spirit on April 1, 2018. Previously, he worked at FelCor Lodging Trust where he was executive vice president, chief financial officer.


DALLAS, March 21, 2018 /PRNewswire/ — Spirit Realty Capital, Inc. (NYSE: SRC) (“Spirit” or the “Company”), a premier net lease real estate investment trust (“REIT”) that primarily invests in single-tenant, operationally essential real estate, today announced that Michael Hughes has been named to the position of Executive Vice President and Chief Financial Officer. Mr. Hughes will join the Company on April 1, 2018 and work with outgoing Chief Financial Officer Phil Joseph to transition the role. In addition, the Company announced that Ricardo Rodriguez has been appointed to the role of Chief Financial Officer at Spirit MTA REIT, and will start in May 2018.

“We are pleased to announce that Michael Hughes will join us as Chief Financial Officer, a critical role as we complete our spin-off transaction and focus on external growth. Michael has extensive leadership experience at a public REIT, and his deep knowledge of corporate finance and reporting, balance sheet management and transaction execution will serve us well. Additionally, after determining that Spirit MTA REIT needed a dedicated Chief Financial Officer with significant capital markets experience, we believe that Ricardo Rodriguez is the right individual to lead that effort. With these appointments, we have completed one more step in our effort to position both companies for long term growth and shareholder value creation,” stated Jackson Hsieh, President and Chief Executive Officer of Spirit.

Most recently, Mr. Hughes was Executive Vice President, Chief Financial Officer at FelCor Lodging Trust, where he managed corporate finance, treasury, strategic planning, investor relations, IT, accounting, tax, human resources and risk management, from 2013 through the close of the company’s merger in 2017. Prior to that, he held various roles in corporate finance at FelCor from 2006 to 2013, and held multiple roles at Wyndham Hotels Corporation from 2002 to 2006, most recently as Vice President, Corporate Finance. Mr. Hughes received his Bachelor of Arts in Finance from Rhodes College and is a CFA charterholder.

Mr. Rodriguez joins Spirit Master Trust from Morgan Stanley, where he had 17 years of experience, most recently as Executive Director – Global Capital Markets in the Structured Solutions Group where he served as head of term ABS banking and origination and worked on over $70 billion of public and private capital market transactions. Mr. Rodriguez graduated from the United States Naval Academy with a Bachelor of Science in Economics and Weapons & Systems Engineering.

Spirit Realty Capital, Inc. (NYSE: SRC) is a premier net-lease real estate investment trust (REIT) that primarily invests in high-quality, operationally essential real estate, subject to long-term, net leases. Over the past decade, Spirit has become an industry leader and owner of income-producing, strategically located retail, industrial and office properties providing superior risk adjusted returns and steady dividend growth for our shareholders.

As of December 31, 2017, our diversified portfolio was comprised of 2,480 properties, including properties securing mortgage loans. Our properties, with an aggregate gross leasable area of approximately 49 million square feet are leased to 419 tenants across 49 states and 30 industries.