New York, NY Seregh, pronounced “Surge,” a sports and entertainment real estate development company, has welcomed the addition of Ric Clark, former chairman and CEO of Brookfield Property Group, to its board and newly-formed investment committee. Clark, who scaled Brookfield’s assets under management from $5 billion to $200 billion, joins industry leaders such as Amy Latimer (Delaware North), Kevin Demoff (Kroenke Sports and Entertainment), Joseph Cohen (MSG Sports), Michael Levine (CAA), and Mitchell Schear (formerly of JBG Smith) in shaping Seregh’s strategic vision.
Schear also joins the investment committee, which will make critical decisions about capital deployment and projects to ensure sports team and entertainment venue owners and associated communities benefit from the committee’s combined development expertise.
Clark and Schear’s appointments are expected to further drive Seregh’s focus on large-scale, mixed-use developments around sports and entertainment venues.
“Adding Ric Clark and Mitchell Schear to the board and Investment Committee is a pivotal moment for us,” said Jonathan Fascitelli, founder, chairman and CEO of Seregh. “Ric’s experience scaling assets and Mitchell’s vision in urban development will help us redefine the real estate surrounding sports venues.”
“Sports and entertainment are a fundamental part of our history and culture. The opportunity to add to the excitement and enhance the experience around sports and entertainment venues is tremendous, and Seregh is uniquely positioned to take advantage of these market dynamics,” said Clark. “These developments have the power to truly transform communities, creating vibrant places that drive long-term economic and social impact, which is what makes this partnership with Seregh so compelling for me.”
“Team owners can hire architects and construction managers to navigate a project on their own, but when partnering with Seregh, they get a deep bench of industry titans,” Fascitelli said. “We bring extensive experience, as well as the capital and execution capabilities that are tried, true, and tested. Our offering is irreplicable.”
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