SEC Form 10-Q filed by Seritage Growth Properties

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

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

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The CNN Money Fear and Greed index showed some improvement in overall market sentiment, while the index remained in the “Neutral” zone on Monday. U.S. stocks settled mixed on Monday, with the Dow Jones index snapping an eight-session winning streak. U.S. major indices recorded gains last week, with the Dow gaining 2.16% to record its fourth positive week in a row. The S&P 500 gained 1.85%, gaining for the third straight week. Data on consumer price index will be released on Wednesday, with economists projecting an increase of 0.4% month-over-month in April. The producer price index is scheduled for release on Tuesday. GameStop Corporation (NYSE:GME) shares jumped over 74% on Mond

U.S. stocks traded mixed toward the end of trading, with the Dow Jones index falling more than 50 points on Monday. The Dow traded down 0.15% to 39,453.60 while the NASDAQ rose 0.21% to 16,375.08. The S&P 500 also fell, dropping, 0.06% to 5,219.74. Check This Out: JPMorgan, Global Payments And 2 Other Stocks Insiders Are Selling Leading and Lagging SectorsInformation technology shares rose by 0.7% on Monday. In trading on Monday, communication services shares fell by 1%. Top Headline GameStop Corporation (NYSE:GME) stock surged on Monday amid possible retail investor interest following a social media post by Roaring Kitty. Shares of struggling video game retailer GameSt

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