Sachem Capital Corp. Announces Appointment of John E. Warch, CPA, as Chief Financial Officer
27 Juillet 2022 - 2:30PM
Sachem Capital Corp. (NYSE American: SACH) announced today the
appointment of John E. Warch, CPA, as the Company’s new Executive
Vice President and Chief Financial Officer, effective August 1,
2022. John Villano, CPA, who previously served as both Chief
Executive Officer and Chief Financial Officer, will continue to
serve as the Company’s Chief Executive Officer.
Mr. Warch is a seasoned industry executive, with
over 40 years of corporate finance and accounting experience. Prior
to joining Sachem, from 2013-2022, Mr. Warch served as Chief
Financial Officer, Senior Vice President and Treasurer at Four
Springs Capital Trust, a privately held real estate investment
trust (REIT) in the commercial real estate market, where he was
responsible for overseeing all aspects of the financial
infrastructure of the REIT, managing financial reporting, and
implementing internal controls and procedures. Prior to that, he
was a senior consultant at David Landau & Associates, LLC,
where he advised real estate clients on Sarbanes-Oxley 404
compliance testing and internal controls, as well as interfacing
with external auditors. Mr. Warch also served as Senior Vice
President and Chief Accounting Officer at CapLease, Inc., a
publicly held REIT, where his responsibilities included financial
and SEC reporting, compliance, management reporting, and accounting
oversight. He has also held senior financial positions at Capital
Trust Inc., Falcon Financial Investment Trust, ICON Capital
Corporation, Fintek, Inc., and Charter Financial, Inc. Mr. Warch is
a CPA and holds an M.B.A. in Finance from St. John’s University and
a B.S. in Accounting from St. John’s University.
John Villano, CPA, Chief Executive Officer of
Sachem Capital Corp., stated, “We are delighted to welcome John to
the senior leadership team at Sachem, which comes at an ideal time
given our rapid growth. We look forward to benefitting from his
extensive experience in all aspects of corporate finance and
reporting, having served more than 20 years within the REIT
industry. We look forward to John’s contributions in supporting our
continued, profitable growth.”
About Sachem Capital Corp.
Sachem Capital Corp. specializes in originating,
underwriting, funding, servicing, and managing a portfolio of first
mortgage loans. It offers short-term (i.e., three years or less)
secured, nonbanking loans (sometimes referred to as “hard money”
loans) to real estate investors to fund their acquisition,
renovation, development, rehabilitation, or improvement of
properties located primarily in Connecticut. The company does not
lend to owner occupants. The company’s primary underwriting
criteria is a conservative loan to value ratio. The properties
securing the company’s loans are generally classified as
residential or commercial real estate and, typically, are held for
resale or investment. Each loan is secured by a first mortgage lien
on real estate. Each loan is also personally guaranteed by the
principal(s) of the borrower, which guaranty may be collaterally
secured by a pledge of the guarantor’s interest in the borrower.
The company also makes opportunistic real estate purchases apart
from its lending activities. The company believes that it qualifies
as a real estate investment trust (REIT) for federal income tax
purposes and has elected to be taxed as a REIT beginning with its
2017 tax year.
Forward Looking Statements
This press release may contain forward-looking
statements. All statements other than statements of historical
facts contained in this press release, including statements
regarding our future results of operations and financial position,
strategy and plans, and our expectations for future operations, are
forward-looking statements. The words “anticipate,” “estimate,”
“expect,” “project,” “plan,” “seek,” “intend,” “believe,” “may,”
“might,” “will,” “should,” “could,” “likely,” “continue,” “design,”
and the negative of such terms and other words and terms of similar
expressions are intended to identify forward-looking statements. We
have based these forward-looking statements largely on our current
expectations and projections about future events and trends that we
believe may affect our financial condition, results of operations,
strategy, short-term and long-term business operations and
objectives and financial needs. These forward-looking statements
are subject to several risks, uncertainties and assumptions as
described in our Annual Report on Form 10-K for 2021 filed with the
U.S. Securities and Exchange Commission on March 31, 2022. Because
of these risks, uncertainties and assumptions, the forward-looking
events and circumstances discussed in this press release may not
occur, and actual results could differ materially and adversely
from those anticipated or implied in the forward-looking
statements. You should not rely upon forward-looking statements as
predictions of future events. Although we believe that the
expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, level of activity,
performance, or achievements. In addition, neither we nor any other
person assumes responsibility for the accuracy and completeness of
any of these forward-looking statements. We disclaim any duty to
update any of these forward-looking statements. All forward-looking
statements attributable to us are expressly qualified in their
entirety by these cautionary statements as well as others made in
this press release. You should evaluate all forward-looking
statements made by us in the context of these risks and
uncertainties.
Investor & Media
Contact:Crescendo Communications, LLCEmail:
sach@crescendo-ir.comTel: (212) 671-1021
Sachem Capital (AMEX:SACH)
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