Seritage Growth Properties, the real estate investment trust spun off from retailer Sears Holdings Corp., named Brian Dickman as its chief financial officer.
Dickman resigned as CFO of Agree Realty Corp., a Farmington Hills, Michigan-based REIT that specializes in shopping centers and single-tenant properties. Previously, he was an investment banker at RBC Capital Markets, where he covered the REIT industry. He’s expected to start at Seritage on Aug. 17, the company said in a statement Friday.
Dickman will join “a first-class team whose focus will be to capitalize on the meaningful growth opportunities in front of us, which we believe will, in turn, create significant long-term value for our shareholders,” Seritage Chief Executive Officer Benjamin Schall said in the statement.
Seritage, which started trading as a separate company on Monday, was created by Hoffman Estates, Illinois-based Sears to unlock the value of its real estate. The REIT owns 235 properties and is a joint-venture partner in 31 others. Seritage leases 224 of its properties to Sears, which are operated as either Sears or Kmart stores.
Seritage shares climbed 0.5 percent to $37.50 at 10:19 a.m. in New York.