LionTree and Delaware North Bet on Real Estate Developer Seregh

By Gillian Tan

Seregh, a firm looking to develop real estate adjacent to sports venues, named Delaware North, a food-service and hospitality company, and LionTree, a merchant bank that specializes in media, sports and technology, as strategic investors.

“We’ve seen firsthand how strategic real estate investment can transform a venue into an economic and cultural powerhouse,” Amy Latimer, Delaware North’s chief operating officer, said in an emailed statement.

Delaware North is owned by the Jacobs family, who also own the National Hockey League’s Boston Bruins. Delaware North teamed up with BXP Inc. to develop The Hub on Causeway, which includes retail, office, hotel and residential space around TD Garden, the arena home to the Bruins.

“We are excited to partner with Seregh to create best-in-class developments that enhance the fan experience and maximize value for all stakeholders,” Latimer added.

Delaware North and LionTree join Harris Blitzer Sports & Entertainment and Creative Artists Agency, which backed Seregh at inception.

“There is a strong opportunity for smart execution at the intersection of sports, entertainment, and real estate,” Alex Michael, a managing director at LionTree, said in an emailed statement.

Seregh founder Jonathan Fascitelli says the New York-based firm aims to work on global projects worth a combined $100 billion over the next decade, and estimates that between $1 billion to $3 billion in adjacent development can take place in areas surrounding stadiums or arenas.

Read More: Harris Blitzer Sports, CAA Back New Real Estate Developer Seregh