Consolidated-Tomoka Land Co. Announces Board Changes
October 18, 2018 at 08:30 am EDT
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Consolidated-Tomoka Land Co announced the appointment of George R. Brokaw and R. Blakeslee 'Blake' Gable to the Company’s Board of Directors, such appointment to be effective as of October 22, 2018. Mr. Brokaw is a Managing Partner of Trafelet Brokaw & Co., LLC. Prior to forming Trafelet Brokaw & Co., Mr. Brokaw served as Managing Director of the Highbridge Growth Equity Fund at Highbridge Principal Strategies, LLC. Mr. Brokaw’s prior experience also includes roles as Managing Director and Head of Private Equity at Perry Capital, L.L.C. and Managing Director (M&A) at Lazard Frères & Co. LLC. Mr. Gable is the Chief Executive Officer of Barron Collier Companies. Prior to joining the Collier Companies, Mr. Gable served as the legislative director for United States Representative Ed Pastor of Arizona. Mr. Gable will serve on the Board’s audit and governance committees. The company also announced that William L. Olivari, and Thomas P. Warlow, who have served on the Board since 2008 and 2010, respectively, will be retiring from the Board at the end of their current one-year term, and thus will not stand for re-election at the Company’s 2019 annual meeting of shareholders, as required by the company’s bylaws. As a result of the noted appointments of Messrs. Brokaw and Gable, the size of the Company’s Board will temporarily expand to nine members. The Company currently anticipates reducing the size of the Board back to seven members as of the completion of the election of directors in connection with the 2019 Annual Meeting.
CTO Realty Growth, Inc. is a real estate investment trust that owns and operates a portfolio of retail-based properties located primarily in higher growth markets in the United States. The Company operates in four primary business segments: management services, commercial loans and investments, real estate operations, and income properties. The management services segment is a fee-based management business that is engaged in managing Alpine Income Property Trust, Inc. (PINE). The commercial loans and investments segment includes a portfolio of three commercial loan investments and one preferred equity investment, which is classified as a commercial loan investment. The real estate operations segment includes a portfolio of subsurface mineral interests associated with approximately 352,000 surface acres in 19 counties in the State of Florida and an inventory of mitigation credits. The Companyâs business also includes its investment in PINE.