Sachem Capital Corp. Announces Management Transition
BRANFORD, Conn., Jan. 11, 2023 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) today announced that William C. Haydon, has resigned to pursue retirement and other opportunities. Mr. Haydon’s responsibilities as Chief Investment Officer will be assumed by Chief Executive Officer John Villano. Mr. Haydon’s other responsibilities will be assumed by the finance and accounting team. To ensure an orderly transition, Mr. Haydon has agreed to remain as an advisor to the company until July 31, 2023.
Mr. Villano, stated, “We are appreciative of Bill’s many contributions to the organization. During his tenure he helped us put in place a strong team and underwriting standards that we believe position us well for the future. We wish Bill well in his future endeavors.”
About Sachem Capital Corp.
Sachem Capital Corp. is a financing REIT that specializes in originating, underwriting, funding, servicing, and managing a portfolio of first mortgage loans. It offers short-term (i.e., three years or less) secured, nonbanking loan to real estate investors to fund their acquisition, renovation, development, rehabilitation, or improvement of properties. The company’s primary underwriting criteria is a conservative loan to value ratio. The properties securing the loans are generally classified as residential or commercial real estate and, typically, are held for resale or investment. Each loan is secured by a first mortgage lien on real estate and is personally guaranteed by the principal(s) of the borrower. The company will also make opportunistic real estate purchases apart from its lending activities.
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