BLOOMFIELD HILLS, Mich.,
Sept. 6, 2016 /PRNewswire/ -- Agree Realty Corporation (NYSE:
ADC) (the "Company") today announced the appointment of
Merrie S. Frankel to the Company's
Board of Directors (the "Board"). Ms. Frankel will replace
Eugene Silverman, who has been a
Director of the Company for over 20 years. Mr. Silverman will
continue to serve on the Company's Board of Directors until the
Company's 2017 Annual Meeting, at which point he will not run for
re-election.
Ms. Frankel most recently spent the last 18 years at Moody's
Investors Service in the Commercial Real Estate Finance Group as
Vice President and Senior Credit Officer, where she was responsible
for rating real estate investment trusts and real estate operating
companies. Prior to her time at Moody's, she was Senior Vice
President and Director of Portfolio Management for the Argo Funds
and also held numerous positions within the real estate industry at
notable companies including Ernst & Young, Cushman &
Wakefield, J.P. Morgan Securities and Salomon Brothers Inc.
Ms. Frankel is currently an adjunct professor at Columbia University's Graduate School of
Architecture, Planning and Preservation and New York University's Schack Institute of Real
Estate. She holds a J.D. and M.B.A. degree from Hofstra University and graduated with a B.A. in
English from the University of
Pennsylvania with numerous honors. Among her industry
affiliations, she is a board member and treasurer of the Women
Executives in Real Estate (WX) Charitable Fund, has served as a
Trustee and chaired the New York District Council for the Urban
Land Institute (ULI) and chaired the nominating committee for the
Financial Women's Association of New
York (FWA).
"We are extremely pleased to welcome Merrie to the Company's
Board of Directors," said Joey Agree, President and Chief Executive
Officer of Agree Realty Corporation. "We are confident that
Merrie's extensive and diverse experience in commercial real
estate, portfolio management and financial services makes her an
exceptionally valuable addition to the Board."
"I would also like to take this opportunity to express our
deepest gratitude to Gene for over 22 years of fantastic service to
our Company," added Mr. Agree. "Gene has been an integral
part of our Company as a Director since our initial public offering
in 1994 and has provided immeasurable contributions during his
tenure. On behalf of the entire Company and the Board, I want
to thank him for his leadership."
About Agree Realty Corporation
Agree Realty Corporation is a publicly traded real estate
investment trust primarily engaged in the acquisition and
development of properties net leased to industry-leading retail
tenants. The Company currently owns and operates a portfolio
of 338 properties, located in 42 states and containing
approximately 6.5 million square feet of gross leasable
space. The common stock of Agree Realty Corporation is listed
on the New York Stock Exchange under the symbol "ADC". For
additional information, please visit www.agreerealty.com.
Forward-Looking Statements
This press release may contain certain "forward-looking
statements" made pursuant to the safe harbor provisions of the
Private Securities Reform Act of 1995. Forward-looking statements
are generally identifiable by use of forward-looking terminology
such as "may," "will," "should," "potential," "intend," "expect,"
"seek," "anticipate," "estimate," "approximately," "believe,"
"could," "project," "predict," "forecast," "continue," "assume,"
"plan," references to "outlook" or other similar words or
expressions. Forward-looking statements are based on certain
assumptions and can include future expectations, future plans and
strategies, financial and operating projections and forecasts and
other forward-looking information and estimates. These
forward-looking statements are subject to various risks and
uncertainties, many of which are beyond the Company's control,
which could cause actual results to differ materially from such
statements. These risks and uncertainties are described in greater
detail in the Company's filings with the Securities and Exchange
Commission, including, without limitation, the Company's Annual
Report on Form 10-K for the year ended December 31, 2015 and in subsequent quarterly
reports. Except as required by law, the Company disclaims
any obligation to update any forward-looking statements, whether as
a result of new information, future events or otherwise.
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SOURCE Agree Realty Corporation