PRINCETON, N.J.--(BUSINESS WIRE)--Essential Properties Realty Trust, Inc. (NYSE: EPRT; “Essential Properties” or the “Company”), an internally managed real estate company that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses, today announced that the Board of Directors has elected Anthony K. Dobkin to serve on the Company’s Board of Directors. Mr. Dobkin takes one of the board seats vacated by Anthony D. Minella and Todd J. Gilbert, of Eldridge Industries, LLC, who resigned from the company’s Board on September 3, 2019, following the sale by affiliates of Eldridge Industries of their entire ownership interest in Essential Properties Realty Trust, Inc. in July of 2019. Mr. Dobkin will also serve on the company’s Audit Committee. With Mr. Dobkin’s election, five of the company’s six board members are independent. The Board has begun a search process to identify another qualified individual to fill the remaining vacancy created by the resignations.
“On behalf of Chairman Paul Bossidy and the rest of our Board, I am pleased to welcome Mr. Dobkin to Essential Properties’ Board of Directors,” said Peter M. Mavoides, Essential Properties’ President and Chief Executive Officer. “Anthony’s experience as a real estate investor is extensive, and he will bring a valuable perspective to our Board. His knowledge of our investor base and the real estate industry will be instrumental in the ongoing development of our business. Anthony joins a board comprised of highly engaged and talented directors with diverse, relevant backgrounds and a shared commitment to strong corporate governance.”
“We would also like to thank our two Eldridge Industries Board members, Anthony D. Minella and Todd J. Gilbert, for all of their contributions,” Mr. Mavoides continued. “We are grateful to them and to the entire Eldridge organization, as our founding institutional stockholder, for their part in our success.”
Anthony K. Dobkin is a private investor and a consultant to REITs and asset managers. From 2012 to 2017, Mr. Dobkin was an Analyst and Portfolio Manager at Surveyor Capital, investing in REITs and real estate related companies. From 2005 to 2012 he was an Analyst and Principal at Wesley Capital Management LLC, a long/short investment management firm focused on real estate securities. Prior to Wesley Capital, Mr. Dobkin worked at Vornado Realty Trust in its acquisitions and capital markets groups and at Credit Suisse First Boston in its real estate investment banking group. Since January 11, 2019, Mr. Dobkin has provided periodic consulting services to the Board and the company’s management upon request regarding business, financial and operational matters pursuant to a consulting agreement that was terminated on September 3, 2019. Mr. Dobkin received his B.S. in Economics, cum laude, from the Wharton School at the University of Pennsylvania in 2001.
About Essential Properties Realty Trust, Inc.
Essential Properties Realty Trust, Inc. is an internally managed real estate company that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses. As of June 30, 2019, Essential Properties had a portfolio of 789 freestanding net lease properties with a weighted average lease term of 14.5 years and a weighted average rent coverage ratio of 2.9x. As of the same date, Essential Properties’ portfolio was 100% leased to 184 tenants operating 219 different concepts in 16 distinct industries across 45 states. Additional information about Essential Properties can be found on its website at www.essentialproperties.com.
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