Seregh will develop mixed-use real estate around sports and entertainment venues
NEW YORK, September 5, 2024 /PRNewswire/ — Sports and Entertainment Real Estate Global Holdings (Seregh, pronounced “surge”), an innovative platform dedicated to investing in and developing real estate around sports and entertainment facilities, launched today. Founded by Jonathan FascitelliThe company aims to create transformative developments in partnership with owners of sports and entertainment facilities. Seregh's strategic investors include Harris Blitzer Sports & Entertainment (HBSE) and Creative Artists Agency (CAA), with more to be announced soon.
Seregh represents the next frontier in real estate surrounding sports and entertainment venues.
Fascitelli, former CEO of HBSE Real Estate, 76 Devcorp and DAE Development, brings unparalleled experience in managing the complexities of large-scale developments, public-private partnerships and community engagements. His tenure at HBSE was marked by transformative projects and strategic developments across several of the team's properties, including the Philadelphia 76ers and New Jersey Devils, as well as affiliated entities such as the Washington Commanders and Cleveland Guardians.
Seregh aims to leverage Fascitelli’s extensive experience in space redevelopment, large-scale master planning and mixed-use development. The platform will provide capital and development expertise and will focus on filling the gap in team-led real estate development, ensuring that space owners, investors and communities benefit from these strategic initiatives.
“Seregh represents the next frontier in real estate around sports and entertainment venues. With more than 30 stadium and arena renovations and new projects in the planning stages, plus 40 stadium leases expiring between 2030 and 2039, there is a tremendous market opportunity to develop mixed-use real estate around these venues that directly benefits the teams and their communities,” he said. Fascitelli, Seregh Founder and President“Sports and entertainment venue owners increasingly recognize the importance of developing the real estate adjacent to venues, but are often ill-equipped to execute their vision. A development of this magnitude requires the expertise and capital needed for a large-scale real estate investment, which Seregh offers. When the real estate surrounding stadiums and arenas is strategically developed, it can support 1 billion dollars to 3 billion dollars “in adjacent new development.”
“Jonathan Fascitelli “He has been an impactful leader, driving projects that benefit our teams and communities,” he said. David AdelmanLimited Partner at HBSE and Chairman of 76 Devcorp“Jonathan's work with our team to build the 76ers' new stadium has been instrumental. He will continue to be a valuable asset to us and now to the other teams, leagues and communities he serves.”
Leading talent agency CAA has made a strategic investment in Seregh and Director General of the CAA Michael Levine will join Seregh's Advisory Board.
“Stadium and arena owners recognize the value and opportunities that the real estate surrounding their stadiums and arenas can bring to local communities. Jonathan Fascitelli “They are an industry leader in sports-focused real estate development whose deep experience and expertise positions this platform to meet strong market demand, and we are thrilled to be an investor,” he said. Levine, CAA CEO.
Additional Advisory Board members include:
- Jose M. CohenDirector of Madison Square Garden Sports Corp. (MSG Sports), including the New York Knicks (NBA) and the New York Rangers (NHL), and President of Brand Velocity Sports Group (BVGS) and President, The Switch Sports Group.
- Kevin DemoffPresident of Team and Media Operations for Kroenke Sports and Entertainmentincluding the Los Angeles Rams (NFL), Denver Nuggets (NBA), Colorado Avalanche (NHL), Colorado Rapids (MLS) and Colorado Mammoth (NLL), as well as the operations of all KSE Media properties including Altitude Sports and Entertainment, KSE Radio and Outdoor Sportsman Group.
- Amy LatimerExecutive Vice President and Chief Operating Officer of global hospitality company Delaware Northformerly President of TD Garden, owned and operated by Delaware North, and Senior Vice President of the Boston Bruins, who led a 1 billion dollars-further transformation of TD Garden to include a mixed-use development.
- Mitchell Scheara senior real estate executive with over 40 years of experience leading public and private real estate companies, including Arroyo Camber, JBG Smith, Vornado/Charles E. Smith and the Kaempfer Company.
New Advisory Board members and strategic investors will be announced later this year. Fascitelli plans to raise additional capital with the aim of creating an ecosystem for development projects related to sports and entertainment on a global scale.
About Sports and Entertainment Real Estate Global Holdings
Sports and Entertainment Real Estate Global Holdings (Seregh, pronounced “surge”) is an innovative platform focused on investing in and developing real estate around sports and entertainment facilities. Founded by Jonathan FascitelliThe company aims to create transformative developments in partnership with sports and entertainment venue owners and associated communities.
Press contact: heather.resnicoff@berlinrosen.com
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