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04.12.25 - 23:03
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Seritage Growth Properties Makes $20 Million Loan Prepayment (Business Wire)
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NEW YORK--(BUSINESS WIRE)--Seritage Growth Properties (NYSE: SRG) (the “Company”), a national owner and developer of retail, residential and mixed-use properties, announced that today the Company has made a voluntary prepayment of $20.0 million toward its $1.6 billion term loan facility provided by Berkshire Hathaway Life Insurance Company of Nebraska (“Berkshire Hathaway”).
With the prepayment, the Company has now repaid a total of $1.55 billion since December 2021 and $50 million of the term loan facility remains outstanding. The current prepayment will reduce Seritage's total annual interest expense related to the term loan facility by approximately $1.4 million. The cumulative repayments since December 2021 have reduced Seritage's total annual interest expense related to the term loan facility by approximately $110.0 million.
About Seritage Growth Properties
Prior to the adoption of the Company's Plan of Sale, Seritage was principally engaged in the ownership, development, redevelopment, ma...
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14.11.25 - 23:12
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Seritage Growth Properties Reports Third Quarter 2025 Operating Results (Business Wire)
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NEW YORK--(BUSINESS WIRE)--Seritage Growth Properties (NYSE: SRG) (the “Company”), a national owner and developer of retail, residential and mixed-use properties today reported financial and operating results for the three months and nine months ended September 30, 2025.
"We continue to see good progress on our various asset sale processes. While not guaranteed, we currently expect to see near-term closings for all three assets under contract with no due diligence contingencies, which, if completed, would allow us to make a sizeable prepayment of our Term Loan Facility outstanding principal balance prior to year end,” said Adam Metz, CEO & President.
Q3 Sale Highlights:
As of November 13, 2025, the Company has four assets under contract for anticipated gross proceeds of $240.8 million before applicable credits and costs. Of the four assets, three are under contract with no due diligence contingencies for total anticipated gross proceeds of $170.0 million and one asset is subject to a due dilige...
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14.08.25 - 22:42
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Seritage Growth Properties Reports Second Quarter 2025 Operating Results (Business Wire)
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NEW YORK--(BUSINESS WIRE)--Seritage Growth Properties (NYSE: SRG) (the “Company”), a national owner and developer of retail, residential and mixed-use properties today reported financial and operating results for the three months and six months ended June 30, 2025.
"We exercised our option and extended the maturity date of our Term Loan Facility which should allow us to execute sales at appropriate pricing and timing to help maximize value for our shareholders. Additionally, we are pleased to report progress on various asset sale processes including the signing of three purchase and sales agreements with five others in negotiations. We will continue to pursue our Plan of Sale with the objective of repaying our remaining debt and ultimately making distributions to our shareholders.” said Adam Metz, CEO & President.
Q2 Sale Highlights:
Generated $23.0 million of gross proceeds from the sale of one premier property sold at $130.82 PSF eliminating $0.6 million in carrying costs.
Generated $8.1 mill...
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11.06.25 - 22:36
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Seritage Growth Properties Makes $40 Million Loan Prepayment (Business Wire)
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NEW YORK--(BUSINESS WIRE)--Seritage Growth Properties (NYSE: SRG) (the “Company”), a national owner and developer of retail, residential and mixed-use properties, announced that today the Company has made a voluntary prepayment of $40 million toward its $1.6 billion term loan facility provided by Berkshire Hathaway Life Insurance Company of Nebraska (“Berkshire Hathaway”).
With the prepayment, the Company has now repaid a total of $1.4 billion since December 2021 and $200 million of the term loan facility remains outstanding. The current prepayment will reduce Seritage's total annual interest expense related to the term loan facility by approximately $2.8 million. The cumulative repayments since December 2021 have reduced Seritage's total annual interest expense related to the term loan facility by approximately $99.4 million.
About Seritage Growth Properties
Prior to the adoption of the Company's Plan of Sale, Seritage was principally engaged in the ownership, development, redevelopment, manag...
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15.05.25 - 22:42
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Seritage Growth Properties Reports First Quarter 2025 Operating Results (Business Wire)
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NEW YORK--(BUSINESS WIRE)--Seritage Growth Properties (NYSE: SRG) (the “Company”), a national owner and developer of retail, residential and mixed-use properties today reported financial and operating results for the three months ended March 31, 2025.
"The Company's strategy following the completion of a smooth CEO transition remains the same. We will continue to pursue our Plan of Sale with the priority of repaying our remaining debt from the sale of assets. Our team is focused on executing transactions at appropriate pricing for our assets already in the market as well as taking the necessary steps to monetize the remaining assets in our portfolio to create value for our shareholders.” said Adam Metz, Interim CEO & President.
Q1 Sale Highlights:
Generated $29.9 million of gross proceeds from the sale of an income producing asset reflecting a 7.7% capitalization rate.
As of May 15, 2025, the Company has one asset owned by our consolidated joint venture under contract for sale subject to custo...
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31.03.25 - 23:06
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Seritage Growth Properties Reports Fourth Quarter and Full Year 2024 Operating Results (Business Wire)
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NEW YORK--(BUSINESS WIRE)--Seritage Growth Properties (NYSE: SRG) (the “Company”), a national owner and developer of retail, residential and mixed-use properties today reported financial and operating results for the year ended December 31, 2024.
"This quarter we have made strides to ready more assets for sale: signing critical leases, achieving partnership approvals, securing zoning and other important milestones. As a result, we anticipate that a majority of our assets, whether fully or partially for certain assets anticipated to be sold in multiple transactions, will be in the market in 2025. These include a mix of large development sites, smaller leased properties and vacant assets, all of which have varying anticipated sales processes and closing timelines. In sum, although we have had fewer closings this quarter than previous ones, we have made significant progress towards the completion of our Plan of Sale” said Andrea Olshan, CEO & President.
Q4 Sale Highlights:
Generated $50.8 million ...
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