Sachem Capital Corp. Announces CFO Transition

Sachem Capital Corp. recently disclosed in an 8-K filing with the Securities and Exchange Commission that Nicholas M. Marcello has resigned from his position as Chief Financial Officer (CFO) of the company, effective December 10, 2024. Marcello’s departure, as mentioned in the filing, was not due to any disputes related to the company’s accounting principles, practices, or financial disclosures. He has agreed to be available to assist with the transition until December 31, 2024.

Following Marcello’s resignation, the company promptly appointed Jeffery C. Walraven, aged 55, a member of the Board of Directors and various Board committees, as the Interim CFO effective December 13, 2024. The appointment of Walraven as Interim CFO is part of a structured process to find a permanent replacement for the position. Walraven’s background and qualifications were detailed in the filing. He will serve on a month-to-month basis and will be compensated at a rate of $62,500 per month under an agreement signed between him and the company.

The company mentioned in the filing that Walraven will function as an independent contractor and will remain a member of the Board of Directors but will no longer receive compensation for his Board service while holding the position of Interim CFO. Walraven has resigned from his previous roles within the Audit, Compensation, and Nominating and Corporate Governance Committees of the Board.

The filing also included that Sachem Capital Corp. issued a press release on December 13, 2024, confirming Marcello’s resignation and detailing Walraven’s appointment as Interim CFO. Marcello expressed his pride in the accomplishments during his tenure and extended his best wishes to the company. John L. Villano, the CEO of Sachem Capital, acknowledged Marcello’s contributions and welcomed Walraven to the leadership role.

Sachem Capital Corp. is a mortgage REIT specializing in originating, funding, and managing a portfolio of loans secured by first mortgages on real property. The company emphasized that its primary focus is on conservative loan-to-value ratios when underwriting loans.

Investors and the media seeking further information have been directed to contact the company via email at [email protected] according to the disclosed information.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Sachem Capital Corp. 7.125% Not’s 8K filing here.

Sachem Capital Corp. 7.125% Not Company Profile

since 2010, sachem capital has been financing opportunistic real estate transactions in the new england area. sachem capital provides quick, short-term bridge capital for real estate investors, builders or developers who need immediate funding or to solve an immediate problem. our creative real estate financing solutions are developed exclusively for those seeking alternatives to conventional bank loans.