Why is sports and real estate trending now? In the first installment of our series on the topic, Jonathan Fascitelli, Founder, Chairman, and CEO of Seregh, says the biggest change is content. “More content means more events means more people.”
Seregh is a rapidly growing global platform for data- and AI-powered sports and entertainment real estate development and investment. Providing context, Fascitelli says stadiums might have only been active 40-60 nights a year. But today’s venues are built to host a plethora of events, featuring everything from pop concerts to monster truck rallies.
The constant foot traffic from attendees and rising demand for live events and shared, in-person experiences can be used to anchor mixed-use developments that generate strong returns for institutional investors who own the sports franchises. Cities, states and nations also benefit from the economic impact driven by new housing, retail, hospitality, office space and other experiential development.
“These boxes are much more active,” says Fascitelli. “They can drive five to seven million people… on an annual basis.”
Fascitelli cites Boston’s TD Garden, San Diego’s Petco Park, and London’s Wembley Stadium as prime examples of sports and entertainment complexes built to support what he sees as a trillion dollar global opportunity.
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