Ex-Brookfield CEO Ric Clark Joins Board Of New Sports Real Estate Developer
Seregh, a one-month-old firm focused on building sports districts, is bolstering the ranks of its board by bringing on a longtime real estate executive.
Ric Clark, who spent three decades at Brookfield, including as CEO of Brookfield Property Group, before leaving in 2020 to launch WatermanClark, is joining Seregh's board and investment committee, Sportico reported Wednesday.
Clark is one of six board members advising the firm, which will partner with venue owners to create mixed-use development around sports stadiums worldwide. The board also includes real estate veteran Mitchell Schear, a former Vornado executive who now advises proptech startups and venture capital firms.
Seregh was founded by former HBSE Real Estate CEO Jonathan Fascitelli in September with financial backing from the ownership of the Philadelphia 76ers, New Jersey Devils and the Creative Artists Agency.
Its goal is to work on more than $100B in projects globally over the next 15 years, Fascitelli told Bloomberg last month. He said the firm was already in talks with more than two dozen teams across the U.S., as well as four in the UK and Europe.
“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,” Clark said via a statement on Seregh’s website.
“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,” he said.
Clark started WatermanClark in 2020 along with Waterman Interests’ Philip “Tod” Waterman. The firm focuses on office and retail assets in New York City.
