Silver Bay Realty Trust Corp. Appoints W. Reid Sanders to Board of Directors
04 August 2016 - 7:00AM
Business Wire
Silver Bay Realty Trust Corp. (NYSE:SBY) announced today the
appointment of W. Reid Sanders as an independent director to the
Company’s Board of Directors (the “Board”), effective August 2,
2016.
“We are delighted to have Reid join our Board and believe his
REIT and real estate background will be invaluable to us,” said
Irvin Kessler, the Chairman of the Company’s Board of Directors.
“He brings relevant public company board experience and a deep
background in investing and strategic matters, and we expect that
the entire company will benefit from his presence on the
Board.”
Mr. Sanders currently serves as the President of Sanders
Properties, Inc., a real estate company. He also serves on the
board of directors for two publicly traded companies, Mid-America
Apartment Communities, Inc., a Delaware REIT that owns and operates
apartment complexes (NYSE: MAA) and Two Harbors Investment Corp.
(NYSE: TWO), a Maryland corporation focused on investing, financing
and managing residential mortgage-backed securities and related
investments. Mr. Sanders was the co-founder and former Executive
Vice President of Southeastern Asset Management, and the former
President of Longleaf Partners Mutual Funds, a family of funds in
Memphis from 1975-2000. Mr. Sanders has extensive experience as a
board member, advisor and executive leader of asset management,
investment management, real estate investment, venture capital and
commercial banking firms.
He is a trustee of the Hugo Dixon Foundation, the Dixon Gallery
and Gardens, the Hutchison School, Rhodes College, and the
Tennessee Shakespeare Company, and is a former trustee of The
Jefferson Scholars Foundation and the Campbell Clinic Foundation.
Mr. Sanders received a B.A. in Economics from the University of
Virginia.
In addition, the Company announced that the Board has accepted
the resignation of Ronald. N. Weiser from the Board and its
committees effective August 31, 2016. Mr. Weiser resigned after
nearly four years of dedicated service to spend more time pursuing
other interests, including work with the University of Michigan
Medical Center to establish a food allergy center and pediatric
brain cancer center and work in the political sphere.
“We greatly appreciate Ron’s many contributions to Silver Bay
since joining the Board at the time of our IPO through significant
growth of our real estate operations,” said Mr. Kessler. “We have
all benefited from his real estate expertise, and I want to thank
him personally for his contribution of time and insights. We wish
him the best in the future.”
Silver Bay Realty Trust Corp.
Silver Bay Realty Trust Corp. is an internally managed Maryland
corporation focused on the acquisition, renovation, leasing and
management of single-family properties for rental income and
long-term capital appreciation. Silver Bay owns single-family
properties in Arizona, California, Florida, Georgia, Nevada, North
Carolina, Ohio, South Carolina and Texas. Silver Bay has elected to
be taxed as a REIT for U.S. federal tax purposes. Additional
information can also be found on the company’s website:
www.silverbayrealtytrustcorp.com.
Additional Information
Stockholders of Silver Bay, and other interested persons, may
find additional information regarding the company at the SEC's
website at www.sec.gov or by directing requests to: Silver Bay
Realty Trust Corp., Attn: Investor Relations, 3300 Fernbrook Lane
North, Suite 210, Plymouth, MN 55447, telephone (952) 358-4400.
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version on businesswire.com: http://www.businesswire.com/news/home/20160803006410/en/
Silver Bay Realty Trust Corp.Christine Battist,
952-358-4400investors@silverbaymgmt.com
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