Source: GlobeNewswire (MIL-OSI)
NEW YORK, June 07, 2022 (GLOBE NEWSWIRE) — New York Mortgage Trust, Inc. (the “Company”) (NASDAQ: NYMT) today announced that Gena Cheng has been elected to its Board of Directors (the “Board”). Ms. Cheng was elected as a new director at the Company’s 2022 Annual Meeting of Stockholders held on June 6, 2022.
“We’re excited to welcome Gena Cheng to NYMT’s Board of Directors,” said Steven Mumma, the Company’s Executive Chairman. “Gena’s vast experience in real estate financing, investor relations and operations make her a strong addition to our Board.” Steven Norcutt, Lead Independent Director, added “We are fortunate to have Gena join the Board. Her fresh and independent perspective informed by her significant experience in the real estate industry will benefit the Board.”
Ms. Cheng is Managing Principal of Prospect Avenue Partners, an advisory firm providing outsourced product development, investor relations and capital raising services for real estate investments. Named to PERE’s list of 30 Capital Raisers Who Can Make a Difference, Ms. Cheng has over 20 years of experience in the real estate industry, including investments, portfolio management, fundraising and investor relations. Prior to launching Prospect Avenue Partners, Ms. Cheng served in a variety of management, strategy, product development and capital raising roles at USAA Real Estate Company, Forum Partners and JT Partners. Earlier in her career, Ms. Cheng was a senior portfolio manager at APG Asset Management, the Dutch pension fund, where she helped invest and manage the capital of one of the largest institutional real estate investment platforms in the world, focusing on North American investments. Ms. Cheng began her career in real estate consulting and investment banking at Arthur Andersen and Morgan Stanley, respectively.
The Company’s Board is now comprised of seven directors, five of whom are independent, with women making up 60% of independent directors and 43% of the full Board.
About New York Mortgage Trust
New York Mortgage Trust, Inc. is a Maryland corporation that has elected to be taxed as a real estate investment trust (“REIT”) for federal income tax purposes. NYMT is an internally managed REIT in the business of acquiring, investing in, financing and managing primarily mortgage-related single-family and multi-family residential assets, including joint venture equity investments in multi-family apartment communities.
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