Seritage Growth Properties (NYSE:SRG) ("Seritage" or the "Company"), a national owner and developer of retail, residential and mixed-use properties, today announced that the Seritage Board of Trustees and Andrea Olshan have agreed that Ms. Olshan will step down as Chief Executive Officer and President (CEO) and as a member of the Board effective as of April 11, 2025. The Board has appointed Board Chairman Adam Metz, an independent member of the Board since 2022, as Interim CEO and President also effective as of April 11, 2025. The decision to transition the CEO role was based on the fact that the Company has continued to pursue its shareholder approved Plan of Sale and that, since the anno

  Seritage Growth Properties (NYSE:SRG) (the "Company"), a national owner and developer of retail, residential and mixed-use properties, today announced that on November 27, 2024, the Company has made a voluntary prepayment of $15 million toward its $1.6 billion term loan facility provided by Berkshire Hathaway Life Insurance Company of Nebraska ("Berkshire Hathaway"). With the prepayments, the Company has now repaid a total of $1.36 billion since December 2021 and $240 million of the term loan facility remains outstanding. The current prepayments will reduce Seritage's total annual interest expense related to the term loan facility by approximately $1.05 million. The cumulative repayme

Seritage Growth Properties (NYSE:SRG) (the "Company"), a national owner and developer of retail, residential and mixed-use properties, today announced that on October 23, 2024, the Company has made a voluntary prepayment of $25 million toward its $1.6 billion term loan facility provided by Berkshire Hathaway Life Insurance Company of Nebraska ("Berkshire Hathaway"). With the prepayments, the Company has now repaid a total of $1.345 billion since December 2021 and $255 million of the term loan facility remains outstanding. The current prepayments will reduce Seritage's total annual interest expense related to the term loan facility by approximately $1.75 million. The cumulative repayments s

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, 2024. "We are continuing to advance our Plan of Sale, having sold $80 million of assets year to date and repaid an equal amount of debt in the process.  Since the announcement of our strategic review and election to be taxed as a C-Corp two years ago, we have sold 151 assets for approximately $1.7 billion of gross proceeds and repaid roughly $1.2 billion in debt.  Based on our broad transaction experience, we are seeing a few themes emerge. Assets previously underwritten for

Seritage Growth Properties (NYSE:SRG) (the "Company"), a national owner and developer of retail, residential and mixed-use properties, today announced that between April 23, 2024 and April 24, 2024, the Company has made voluntary prepayments aggregating $50 million toward its $1.6 billion term loan facility provided by Berkshire Hathaway Life Insurance Company of Nebraska ("Berkshire Hathaway"). With the prepayments, the Company has now repaid a total of $1.32 billion since December 2021 and $280 million of the term loan facility remains outstanding. The current prepayments will reduce Seritage's total annual interest expense related to the term loan facility by approximately $3.5 million

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, 2023. "In 2023, we sold 68 assets for gross proceeds of $842.7 million and paid down $670 million of debt. As of today, the overwhelming majority of our remaining assets have identified counterparties, are in the market or about to be launched. With respect to the remaining properties in our portfolio, these are assets for which we need to overcome important hurdles and/or achieve specific objectives prior to launching these assets for sale. We have a line of sight into a signifi

Seritage Growth Properties (NYSE:SRG) (the "Company"), a national owner and developer of retail, residential and mixed-use properties, today announced that on January 30, 2024, the Company made a voluntary prepayment of $30 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 $1.27 billion since December 2021 and $330 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 $2.1 million. The cumulative repayments since De

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 and nine months ended September 30, 2023. "We continue to make significant progress on asset sales, grossing more than $156 million during the quarter. We now have a line of sight to a portfolio of approximately 25 assets comprised of many of our best properties in prime markets around the country. Our team's operational discipline has allowed us to reduce run rate G&A, a trend we expect to continue into 2024. We remain focused on our balance sheet, keeping ample cash balances while using excess p

Seritage Growth Properties (NYSE:SRG) (the "Company"), a national owner and developer of retail, residential and mixed-use properties, today announced that on September 26, 2023, the Company made a voluntary prepayment of $80 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 $1.2 billion since December 2021 and $400 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 $5.6 million. The cumulative repayments since D

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 and six months ended June 30, 2023. "We continue to make to progress on our strategy to maximize value for our shareholders. Since initiating our plan of sale in March of 2022, we have sold 127 properties for approximately $1.4 billion in gross proceeds and paid down $960 million on our term loan. Our rapid deleveraging has eliminated $67.2 million in debt service, $21.9 million in negative carry on wholly owned vacant or non-income producing properties and significant annual carry and development

Seritage Growth Properties (NYSE:SRG) ("Seritage" or the "Company"), a national owner and developer of retail, residential and mixed-use properties, today announced that the Seritage Board of Trustees and Andrea Olshan have agreed that Ms. Olshan will step down as Chief Executive Officer and President (CEO) and as a member of the Board effective as of April 11, 2025. The Board has appointed Board Chairman Adam Metz, an independent member of the Board since 2022, as Interim CEO and President also effective as of April 11, 2025. The decision to transition the CEO role was based on the fact that the Company has continued to pursue its shareholder approved Plan of Sale and that, since the anno

Seeks Shareholder Approval of Plan of Sale Unanimously Recommended by the Seritage Board of Trustees Appoints Adam Metz as Chairman of the Seritage Board Seritage Growth Properties (NYSE:SRG) (the "Company"), a national owner and developer of 161 retail, residential and mixed-use properties, today filed its preliminary proxy materials with the U.S. Securities and Exchange Commission ("SEC") in connection with the Company's 2022 Annual Meeting of Shareholders. In connection with its previously announced review of strategic alternatives, the Seritage Board of Trustees unanimously recommends that the Company's shareholders vote at the Annual Meeting to approve a proposed plan of sale of Ser

Ms. Nevo-Hacohen, Mr. Sabshon and Mr. Wilsmann Each Brings Decades of Experience and Relevant Expertise Seritage Growth Properties (NYSE:SRG) (the "Company" or "Seritage"), a national owner and developer of 170 residential, retail and mixed-use properties, today announced the appointment of Talya Nevo-Hacohen, Mitchell Sabshon and Mark Wilsmann to its Board of Trustees, effective immediately. These appointments follow the Seritage Board's previously announced intent to identify additional trustee candidates to further enhance the Board's investment and transaction experience: Ms. Nevo-Hacohen is EVP and Chief Investment Officer and Treasurer of Sabra Health Care REIT, Inc., a leading ow

Appoints Adam Metz to the Board of Trustees Seritage Growth Properties (NYSE:SRG) (the "Company"), a national owner and developer of 162 retail, residential and mixed-use properties, today announced that its Board of Trustees has approved a plan to terminate its election to be treated as a Real Estate Investment Trust ("REIT") for tax purposes and to convert the Company to a C corporation. The termination of the REIT election will be retroactively effective as of January 1, 2022. The Company has received all necessary approvals to terminate its election. On March 1, 2022, the Company announced that its Board of Trustees had commenced a process to review a broad range of strategic alternat

Seritage Growth Properties (NYSE:SRG) (the "Company"), a national owner and developer of 170 retail, residential and mixed-use properties, today announced that John Garilli, an existing consultant to the Company and former CEO of New York REIT, has been appointed interim Chief Financial Officer. He will assume this position on a full-time basis upon Amanda Lombard's departure, effective January 14, 2022. Andrea Olshan, President and Chief Executive Officer of Seritage Growth Properties said, "We are pleased to have an executive of John's caliber to step into the CFO role. John has been engaged with Seritage as a consultant for some time and is intimately familiar with our business. He is a

NEW YORK--(BUSINESS WIRE)--Seritage Growth Properties (NYSE: SRG) announced today that Andrea Olshan has been appointed Chief Executive Officer and President of the Company and will join the Company’s Board of Trustees, each effective as of a mutually agreeable date on or before March 16, 2021. Ms. Olshan is currently the Chief Executive Officer of Olshan Properties, a private real estate company that specializes in developing and managing a 23 million square foot portfolio of retail and mixed-use properties throughout the United States. Ms. Olshan will move to Chairman of the Olshan Properties Board of Directors. Commenting on Andrea’s appointment, Edward S. Lampert, Chairman o

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Odeon initiated coverage of Seritage Growth Properties with a rating of Buy and set a new price target of $14.00

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4 - Seritage Growth Properties (0001628063) (Issuer)

4 - Seritage Growth Properties (0001628063) (Issuer)

4 - Seritage Growth Properties (0001628063) (Issuer)

4 - Seritage Growth Properties (0001628063) (Issuer)

4 - Seritage Growth Properties (0001628063) (Issuer)

4 - Seritage Growth Properties (0001628063) (Issuer)

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, 2024. "We are continuing to advance our Plan of Sale, having sold $80 million of assets year to date and repaid an equal amount of debt in the process.  Since the announcement of our strategic review and election to be taxed as a C-Corp two years ago, we have sold 151 assets for approximately $1.7 billion of gross proceeds and repaid roughly $1.2 billion in debt.  Based on our broad transaction experience, we are seeing a few themes emerge. Assets previously underwritten for

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, 2023. "In 2023, we sold 68 assets for gross proceeds of $842.7 million and paid down $670 million of debt. As of today, the overwhelming majority of our remaining assets have identified counterparties, are in the market or about to be launched. With respect to the remaining properties in our portfolio, these are assets for which we need to overcome important hurdles and/or achieve specific objectives prior to launching these assets for sale. We have a line of sight into a signifi

Seritage Growth Properties (NYSE:SRG) (the "Company"), a national owner and developer of retail, residential and mixed-use properties, today announced that on January 30, 2024, the Company made a voluntary prepayment of $30 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 $1.27 billion since December 2021 and $330 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 $2.1 million. The cumulative repayments since De

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 and nine months ended September 30, 2023. "We continue to make significant progress on asset sales, grossing more than $156 million during the quarter. We now have a line of sight to a portfolio of approximately 25 assets comprised of many of our best properties in prime markets around the country. Our team's operational discipline has allowed us to reduce run rate G&A, a trend we expect to continue into 2024. We remain focused on our balance sheet, keeping ample cash balances while using excess p

Seritage Growth Properties (NYSE:SRG) (the "Company"), a national owner and developer of retail, residential and mixed-use properties, today announced that on September 26, 2023, the Company made a voluntary prepayment of $80 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 $1.2 billion since December 2021 and $400 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 $5.6 million. The cumulative repayments since D

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 and six months ended June 30, 2023. "We continue to make to progress on our strategy to maximize value for our shareholders. Since initiating our plan of sale in March of 2022, we have sold 127 properties for approximately $1.4 billion in gross proceeds and paid down $960 million on our term loan. Our rapid deleveraging has eliminated $67.2 million in debt service, $21.9 million in negative carry on wholly owned vacant or non-income producing properties and significant annual carry and development

Seritage Growth Properties (NYSE:SRG) (the "Company"), a national owner and developer of retail, residential and mixed-use properties, today announced that on June 7, 2023, the Company made a voluntary prepayment of $50 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 $1.05 billion since December 2021 and $550 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 $3.5 million. The cumulative repayments since Decemb

Seritage Growth Properties (NYSE:SRG) (the "Company"), a national owner and developer of retail, residential and mixed-use properties, today announced that on May 25, 2023, the Company made a voluntary prepayment of $200 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 $1.0 billion since December 2021 and $600 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 $14.0 million. The cumulative repayments since Decem

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, 2023. "We continue to make steady progress on our plan of sale since initiating the process in March of 2022. Year to date we have sold 31 wholly owned properties for total gross proceeds of $311.9 million. In addition to the sales closed year to date, we have over $500 million of assets either under contract or with accepted offers. We plan to continue to use excess sales proceeds to reduce the Company's term loan balance. In conjunction with our sales activity, we continue

2023 Year to Date Gross Proceeds from Asset Sales of $290.4M $525.0 M of Pipeline from Sales Under Contract or with Accepted Offers Seritage Growth Properties (NYSE:SRG) (the "Company"), a national owner and developer of retail, residential and mixed-use properties, today provided an update on the Company's disposition activity through the end of Q1 2023. Q1 2023 Disposition Update Generated $290.4 million of gross proceeds from the sale of 27 wholly owned or consolidated assets: $254.8 million from the sale of 21 stabilized, partially stabilized and pad sites at prices reflecting blended cap rates of 9.2%, 8.3% and 4.7% respectively; and $35.6 million of gross proceeds from t