SL Green Realty Corp. Announces the Departure of Chief Investment Officer David Schonbraun
SL Green Realty Corp. (NYSE:SLG) announces the departure of Chief Investment Officer David Schonbraun, effective by the end of Q2 2021. After 19 years, Schonbraun plans to explore new opportunities amidst a changing commercial real estate landscape. He played a significant role in the company’s growth and investment strategy. The firm's 2021 investment strategy, including asset sales, joint ventures, and stock buybacks, will now be managed by Brett Herschenfeld, Robert Schiffer, and Harrison Sitomer. As of March 31, 2021, SL Green manages interests in 84 buildings totaling 37.8 million square feet.
- David Schonbraun's leadership contributed to company growth over 19 years.
- The 2021 investment strategy aims to enhance the company's development pipeline.
- Change in leadership may create uncertainty during the transition period.
NEW YORK, May 13, 2021 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:SLG), Manhattan’s largest office landlord, today announced that David Schonbraun, Chief Investment Officer, will be leaving the company by the end of the second quarter of 2021.
“It has been an incredible opportunity to lead SL Green’s Investments team and work with Marc and Andrew over the last 19 years,” noted Schonbraun, “but the time is right for me to pursue new challenges in today’s evolving commercial real estate landscape.”
“David has been an integral member of SL Green for nearly two decades, helping to grow the company, overseeing the debt and preferred equity platform, and helping spearhead our industry-leading investment strategy. His dedication has brought great value across the firm, and we thank him for his years of service. From all of us at SL Green, we wish him well as he pursues new opportunities,” said Marc Holliday, Chairman and CEO of SL Green Realty Corp.
The Company’s ambitious 2021 investment strategy, including asset sales and joint ventures to fund SL Green’s world-class development pipeline in addition to stock buybacks, asset purchases and DPE lending, will be collectively overseen by Brett Herschenfeld, Robert Schiffer and Harrison Sitomer.
About SL Green Realty Corp.
SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of March 31, 2021, SL Green held interests in 84 buildings totaling 37.8 million square feet. This included ownership interests in 28.3 million square feet of Manhattan buildings and 8.7 million square feet securing debt and preferred equity investments.
Forward Looking Statement
This press release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, are forward-looking statements. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “project,” “continue,” or the negative of these words, or other similar words or terms.
Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties related to the on-going COVID-19 pandemic and the duration and impact it will have on our business and the industry as a whole and the other risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.
SLG – GEN
Matt DiLiberto
Chief Financial Officer
212.594.2700
FAQ
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