Seregh to develop mixed-use real estate around sports and entertainment venues

NEW YORK, Sept. 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 venues, launched today. Founded by Jonathan Fascitelli, the company aims to create transformational developments in partnership with sports and entertainment venue owners. Seregh strategic investors include Harris Blitzer Sports & Entertainment (HBSE) and Creative Artists Agency (CAA), with more to be announced soon.

Fascitelli, formerly Chief Executive Officer of HBSE Real Estate, 76 Devcorp and DAE Development, brings unparalleled experience navigating 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 various team holdings, 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 background in venue redevelopment, large-scale master planning and mixed-use development. The platform will provide capital and development expertise and focus on filling the gap in team-led real estate development, ensuring that venue owners, investors and communities benefit from these strategic initiatives.

“Seregh represents the next frontier in real estate surrounding sports and entertainment venues. With more than 30 arena and stadium renovations and new projects in planning stages, plus 40 stadium leases expiring between 2030-2039, there is tremendous market opportunity to develop mixed-use real estate around these venues that directly benefits the teams and their communities,” said Fascitelli, Seregh Founder and Chairman. “Sports and entertainment venue owners increasingly recognize the importance of developing the real estate adjacent to venues but are often ill-equipped to execute on their vision. Development this extensive requires the necessary expertise and capital for large-scale real estate investment, which Seregh offers. When the real estate surrounding arenas and stadiums is developed strategically, it can support $1 billion to $3 billion in new adjacent development.”

“Jonathan Fascitelli has been an impactful leader, driving projects that benefit our teams and communities,” said David Adelman, HBSE Limited Partner and Chairman of 76 Devcorp. “Jonathan’s work with our team to deliver the new 76ers arena has been critical. He will remain a valuable resource to us, and now to other teams, the leagues and communities he partners with.”

Leading talent agency CAA has made a strategic investment in Seregh, and CAA Managing Director Michael Levine will join the Seregh Advisory Board.

“Venue owners recognize the value and opportunities that the real estate surrounding their stadiums and arenas can bring to local communities. Jonathan Fascitelli is an industry leader in sports-centric real estate development, whose deep expertise and experience positions this platform to serve a strong market demand, and we are thrilled to be an investor,” said Levine, CAA Managing Director.

Additional Advisory Board members include:

• Joseph M. Cohen, Director of Madison Square Garden Sports Corp. (MSG Sports), including the New York Knicks (NBA) and New York Rangers (NHL), and Chairman, Brand Velocity Sports Group (BVGS) and President, The Switch Sports Group.
• Kevin Demoff, President of Team & Media Operations for Kroenke Sports and Entertainment, including the Los Angeles Rams (NFL), Denver Nuggets (NBA), Colorado Avalanche (NHL), Colorado Rapids (MLS), and Colorado Mammoth (NLL), as well as operations of all KSE Media properties including Altitude Sports and Entertainment, KSE Radio and Outdoor Sportsman Group.
• Amy Latimer, EVP and Chief Operating Officer at global hospitality company Delaware North, previously president of Delaware North-owned-and-operated TD Garden and SVP of Boston Bruins, who led a $1 billion-plus transformation of TD Garden to include mixed-use development.
• Mitchell Schear, a senior real estate executive with over 40 years of experience leading public and private real estate companies, including Camber Creek, JBG Smith, Vornado/Charles E. Smith and The Kaempfer Company.

Additional Advisory Board members and strategic investors will be announced later this year. Fascitelli plans to raise additional capital with the goal of creating an ecosystem for sports and entertainment-related development projects 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 surrounding sports and entertainment venues. Founded by Jonathan Fascitelli, the company aims to create transformational developments in partnerships with sports and entertainment venue owners and associated communities.

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SOURCE Seregh