– USA, NY – Seritage Growth Properties (NYSE: SRG), a national owner and developer of 170 residential, retail, and mixed-use properties, today announced the appointment of Talya Nevo-Hacohen, Mitchell Sabshon, and Mark Wilsmann to its Board as Independent Trustees, effective immediately, to further enhance the Board’s investment and transaction experience.
“Talya, Mitchell, and Mark are accomplished real estate professionals, and we are excited to welcome them to the Seritage Board,” said CEO, Andrea Olshan. “They all have meaningful experience leading investment platforms across real estate sectors and significant expertise executing complex transactions. We look forward to benefitting from this wealth of knowledge as we continue our process to unlock the compelling value of the Seritage portfolio for the benefit of shareholders.”
The company also announced that David Fawer and Thomas Steinberg have resigned from the Board. Following these changes, the Seritage Board now comprises eight members, seven of whom are independent.
About Talya Nevo-Hacohen
Ms. Nevo-Hacohen has served as EVP, CIO, and Treasurer of Sabra Health Care REIT, Inc. since November 2010. From September 2006 to August 2008 and from February 2009 to November 2010, Ms. Nevo-Hacohen served as an advisor to private real estate developers and operators regarding property acquisitions and dispositions, corporate capitalization, and equity and debt capital raising. Previously, Ms. Nevo-Hacohen was a Managing Director with Cerberus Real Estate Capital Management, LLC. From 2003 to 2006, Ms. Nevo-Hacohen served as Senior Vice President—Capital Markets and Treasurer for HCP, Inc., a healthcare REIT. Before her time with HCP, Ms. Nevo-Hacohen spent 10 years with Goldman, Sachs & Co. where she was a Vice President in the investment banking and finance, operations, and administration divisions.
About Mitchell Sabshon
Mr. Sabshon serves as CEO and President of Inland Real Estate Investment Corporation, where he leads the execution of Inland’s long-term business strategy. Mr. Sabshon is also CEO of Inland Real Estate Income Trust, Inc., a publicly registered, non-listed multi-tenant retail REIT, InPoint Commercial Real Estate Income, Inc., a publicly registered, non-listed commercial mortgage REIT, and MH Ventures Fund II, Inc., a privately held manufactured housing community REIT. He previously served as EVP and COO of Cole Real Estate Investments. Before that, he spent almost 10 years at Goldman, Sachs & Co. in various leadership roles, including President and CEO of Goldman Sachs Commercial Mortgage Capital. He also served as SVP in Lehman Brothers real estate investment banking group. Before joining Lehman Brothers, Mr. Sabshon was an attorney in the corporate and real estate structured finance practice groups at Skadden, Arps, Slate, Meagher & Flom LLP in New York.
About Mark Wilsmann
Mr. Wilsmann spent 31 years in real estate with MetLife Investment Management, including roles in asset management, acquisitions, mortgage lending, portfolio management, regional operations, and merger integration. He most recently served as Managing Director and Head of Equity Investments. He assumed this role in 2012 to help build MetLife’s $32 billion direct property investment platform, investing on behalf of the MetLife General Account as well as institutional investors including public and private pension funds, sovereign wealth funds, and insurance companies, via co-mingled funds and managed accounts. He also oversaw more than $7 billion in ground-up development investments in apartments, industrial, office, retail, life sciences, data centers, and hotels. Between 2003 and 2012, Wilsmann led MetLife’s commercial mortgage lending business, directing product design, pricing, and origination activities and chairing the investment committee.
About Seritage Growth Properties
Seritage is principally engaged in the ownership, development, redevelopment, management, sale, and leasing of diversified and mixed-use properties throughout the United States. As of December 31, 2021, the Company’s portfolio consisted of interests in 162 properties comprised of approximately 19.2 million square feet of GLA or build-to-suit leased area, approximately 3.9 million of which are held by unconsolidated entities, approximately 600 acres held for or under development and approximately 9.4 million square feet of GLA or approximately 800 acres to be disposed of.
For more information: https://www.seritage.com/
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