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Pine Tree Expands Board of Directors with Two New Appointments

The national retail real estate company’s board adds universally-respected and experienced industry veterans David Henry and Paul Freddo.

NORTHBROOK, Ill. (June 8, 2020) – Northbrook-based Pine Tree, LLC (“Pine Tree”) today announced that it has appointed David Henry and Paul Freddo to the company’s Board of Directors, effective immediately.

“As Pine Tree celebrates its milestone 25th year in-business and continues growing with nearly $3 billion in assets under management, we look forward to capturing new market opportunities while enhancing the governance of the company with the addition of David and Paul” said Pine Tree’s CEO and Co-Founder, Peter Borzak. “Their wealth of experience and deep history of success will be invaluable as Pine Tree continues to grow the country’s only private, national, institutional, and risk-agnostic retail real estate platform.”

David Henry. At Kimco Realty Corporation (NYSE: KIM; “Kimco”), North America’s largest publicly traded owner and operator of open-air shopping centers, Henry served as Chief Executive Officer for six years before retiring in 2016. Prior to joining Kimco in 2001 as Vice Chairman, he was Senior Vice President & Chief Investment Officer at GE Capital Real Estate where he spent 23 years and was responsible for pension advisory activities and investment strategies in the US and international markets. Today, Henry is the Co-Founder of Peaceable Street Capital, a preferred equity lender for income-producing commercial real estate properties.

Mr. Henry graduated from Bucknell University and received his MBA from the University of Miami. He currently serves on several public and private real estate company boards, and is a director of a community savings bank.  Mr. Henry is a past trustee and served as Chairman of the International Council of Shopping Centers (ICSC), and is a former Vice-Chairman of the Board of Governors of the National Association of Real Estate Investment Trusts (NAREIT).

Paul Freddo. With over 40 years of retail real estate experience, Freddo most recently served as Senior EVP of Leasing & Development at DDR (now Site Centers) since 2008 where he oversaw the leasing, development, redevelopment, and property management functions of the company. Prior to joining DDR, he served as VP and Director of Real Estate for JCPenney, having worked with the company since 1978. Today, Freddo operates Parnell Real Estate Advisors, LLC, a retail real estate consulting firm which he also co-founded.

Widely respected within the retail real estate industry, Freddo is an active member and former trustee of the International Council of Shopping Centers (ICSC) and is a current board member of the NRP Group. Freddo holds a Bachelor’s degree in Business Administration from Adelphi university.

About Pine Tree:

Pine Tree, LLC is a Chicago-based full-service real estate company specializing in retail. Since its founding in 1995, Pine Tree has become a leader in the development, acquisition, leasing and management of retail properties throughout the United States. With retail partners ranging from superstores to specialty shops and local chains, Pine Tree currently has approximately $3 billion in assets under management.

Press Contact:

Lori McNeill
(800) 970-7392 or (520) 299-1000