Bisnow Archive/Lois Weiss
Less than Armour CEO Kevin Plank at ICSC in New York Metropolis, Dec. 5, 2016.
Below Armour founder Kevin Plank has scored a main new use for his Baltimore-dependent real estate business, luring away a best govt from the Washington Commanders NFL group.
Plank’s Sagamore Ventures declared Wednesday it hired Greg Resh, who expended less than two several years with the Commanders as main operating officer and main economic officer. Resh declared his departure from the crew last 7 days but didn’t reveal his up coming transfer at the time.
Resh’s new career, serving as CFO and govt vice president at Sagamore, involves attracting new buyers and running associations with developers working on the firm’s ventures, which include the massive Port Covington redevelopment.
Sagamore Ventures has backed a handful of noteworthy jobs in the Baltimore area, including the Sagamore Spirit Rye Whiskey Distillery in Port Covington, the Sagamore Pendry hotel in Fells Issue and Sagamore Farms in Greenspring Valley.
By much, the major job tackled by Sagamore Ventures is the redevelopment of Port Covington, a 14M SF mixed-use enhancement off Interstate 95 on 235 acres covering the city’s southern peninsula.
“I have viewed the Sagamore Ventures crew and its companions make a major impact in Baltimore and broaden its portfolio of models throughout a broad vary of industries,” Resh mentioned in a assertion. “As a Baltimore indigenous, I am thrilled to return to my hometown and be component of what Kevin, the Plank loved ones and the Sagamore team are performing to positively impact the life of Baltimore residents.”
Courtesy of Sagamore Ventures
Greg Resh, main fiscal officer and government vice president of Sagamore Ventures.
In May well, the Sagamore advancement staff announced Mag Partners and MacFarlane Partners had been signing up for the Port Covington project and replacing Weller Development Co. as the learn developer.
Last 7 days, Mag Partners CEO MaryAnne Gilmartin announced at a Bisnow function that the team signed a lease with the initial office environment tenant at Port Covington: The H. Chambers Co., a 123-12 months-previous inside style small business. She also mentioned Port Convington is slated to endure a total rebranding that involves a new identify for the development later this 12 months.
Plank introduced Sagamore Ventures, formerly Plank Industries, to steer his investments from the fortune he made as the founder of the sports attire model Beneath Armour.
Just about a few decades ago, Plank resigned as CEO of Beneath Armour following the firm unsuccessful to meet up with Wall Street’s expectations next the firm’s 2015 substantial-water mark in phrases of inventory price tag.
His resignation also arrived amid a Securities and Exchange Fee investigation into the company’s accounting methods and a flurry of lawsuits from traders. Past year the company paid $9M to settle with the SEC but did not admit any wrongdoing.
Plank also marketed $27M in Underneath Armour inventory late previous calendar year as portion of what was named “asset diversification and estate planning” in SEC filings.
In accordance to Forbes’ billionaire record estimates, Plank is personally worth $1.5B, which is down from a large of $2B in 2021. Plank initially produced the magazine’s billionaire listing in 2018.