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Andrea Olshan to Step Down as Seritage CEO

Seritage Growth Properties said Friday that its board and Andrea Olshan have agreed that she will step down as CEO and president and as a member of the board, effective April 11. The board has appointed board chairman Adam Metz as interim CEO and president.

The decision to transition the CEO role stemmed from the fact that the retail and residential REIT has continued to pursue its shareholder-approved plan of sale and, since the announcement of the company’s review of strategic alternatives in March of 2022, its portfolio has been reduced from approximately 160 assets to 15 assets. As a result, the company’s needs in the CEO role have been reduced, and the parties agreed that the company should change leadership at this time.

“We thank Andrea for her considerable contributions over the last four years and her tireless work on behalf of Seritage and its shareholders,” said Metz.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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