• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    Seritage Growth Properties filed SEC Form 8-K: Leadership Update

    7/1/25 4:15:30 PM ET
    $SRG
    Real Estate
    Finance
    Get the next $SRG alert in real time by email
    false000162806300016280632025-06-272025-06-270001628063us-gaap:CommonStockMember2025-06-272025-06-270001628063srg:Seven00SeriesACumulativeRedeemablePreferredSharesOfBeneficialInterestParValue001PerShareMember2025-06-272025-06-27


    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    WASHINGTON, D.C. 20549


    __________________________
    FORM 8-K
    __________________________
    CURRENT REPORT
    Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
    Date of Report (Date of earliest event reported): June 27, 2025
    __________________________
    SERITAGE GROWTH PROPERTIES
    (Exact name of Registrant as Specified in Its Charter)
    __________________________


    Maryland
    001-37420
    38-3976287
    (State or Other Jurisdiction
    of Incorporation)
    (Commission File Number)
    (IRS Employer
    Identification No.)
             
    500 Fifth Avenue, Suite 1530
     
    New York, New York
     
    10110
    (Address of Principal Executive Offices)
     
    (Zip Code)

    Registrant’s Telephone Number, Including Area Code: (212) 355-7800

     
    (Former Name or Former Address, if Changed Since Last Report)
    __________________________

    Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
    ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
    ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
    ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
    ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
    Securities registered pursuant to Section 12(b) of the Act:

    Title of each class
     
    Trading
    Symbol(s)
     

    Name of each exchange on which registered
    Class A common shares of beneficial interest, par value $0.01 per share
     
    SRG
     
    New York Stock Exchange
    7.00% Series A cumulative redeemable preferred shares of beneficial interest, par value $0.01 per share
     
    SRG-PA
     
    New York Stock Exchange
    Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
    Emerging growth company ☐
    If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


    Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

    Appointment of Adam Metz as Chief Executive Officer and President on a Non-Interim Basis

    The Board of Trustees (the “Board”) of Seritage Growth Properties (the “Company”) previously appointed Board Chairman Adam Metz as the Company’s Interim Chief Executive Officer and President (“CEO”), effective as of April 11, 2025, as reported in the Current Report on Form 8-K filed by the Company on March 28, 2025. On June 27, 2025, the Board approved the appointment of Mr. Metz as CEO on a non-interim basis, effective as of July 1, 2025. Mr. Metz will continue serving as Board Chairman and Mitchell Sabshon will continue serving as Lead Independent Trustee.

    Mr. Metz, age 64, currently serves as a non-executive director of Hammerson plc, a United Kingdom-based real estate investment trust, since July 2019, and six business development companies advised by MS Capital Partners Adviser Inc., a wholly owned subsidiary of Morgan Stanley, including Morgan Stanley Direct Lending Fund, a publicly traded business development company, since 2019. Mr. Metz served as a Managing Director and head of International Real Estate at Carlyle Group from September 2013 to April 2018. Prior to Carlyle Group, Mr. Metz was Senior Advisor to TPG Capital's Real Estate Group. Previously, Mr. Metz served as Chief Executive Officer of General Growth Properties (“GGP”), where he led GGP through its restructuring and emergence from bankruptcy. Before joining GGP, Mr. Metz was co-founding partner of Polaris Capital LLC, which partnered with the Blackstone Group on the ownership of a portfolio of retail real estate assets throughout the United States. Mr. Metz has also held positions at Rodamco, Urban Shopping Centers, JMB Realty and The First National Bank of Chicago.

    On June 30, 2025, Mr. Metz entered into a new employment agreement with the Company (the “Employment Agreement”) for a one-year term. If the parties do not mutually agree in writing by April 1, 2026, to extend the term of the agreement, the agreement will expire on June 30, 2026. The Employment Agreement provides Mr. Metz with (i) an annual base salary of $1,100,000 and (ii) an annual target bonus of $1,225,000 for the 12-month period beginning on July 1, 2025, and ending on June 30, 2026. The actual amount of any annual bonus, which has a payout range of 50% to 150% of the target bonus amount, will be determined by the Compensation Committee of the Board (the “Compensation Committee”) in consideration of the level of performance achieved against the performance goals to be established by the Compensation Committee. No bonus will be earned and paid if the performance goals are not met. Payment of the annual bonus is also subject to Mr. Metz’s continued service as an employee through the end of the performance period. In the event of a change in control of the Company, the Compensation Committee may, in its discretion, measure performance and determine the amount of the annual bonus to be payable at the time of the change in control. In addition, the Employment Agreement provides that Mr. Metz will be entitled to participate in all employee benefit plans and programs offered by the Company to its senior executives, subject to the eligibility requirements and terms of such plans and programs.

    During the term, the Company may only terminate the Employment Agreement and Mr. Metz’s employment for Cause (as defined in the Employment Agreement) or in the event of Mr. Metz’s death or Disability (as defined in the Employment Agreement). Mr. Metz may terminate the Employment Agreement upon 30 days’ prior notice to the Company. Mr. Metz  is not entitled to any severance under the Employment Agreement upon his termination of employment with the Company for any reason.

    The Employment Agreement also subjects Mr. Metz to confidentiality, cooperation, and non-disparagement covenants. The Employment Agreement supersedes and replaces the Interim CEO Letter Agreement, dated April 10, 2025, between the Company and Mr. Metz.

    There is no arrangement or understanding between Mr. Metz and any other person pursuant to which he was appointed as an officer of the Company, there are no family relationships between Mr. Metz and any director or other executive officer of the Company, and there are no related persons transactions (within the meaning of Item 404(a) of Regulation S-K) involving Mr. Metz and the Company and its subsidiaries.

    The foregoing description of the Employment Agreement is only a summary and is qualified in its entirety by reference to the full text of the Employment Agreement, attached hereto as Exhibit 10.1, which is incorporated herein by reference.

    9.01 Financial Statements and Exhibits.

    (d) Exhibits

                        Exhibit Number                     Description
                        10.1                                       Employment Agreement by and among Adam Metz, Seritage Growth Properties, L.P., and Seritage Growth Properties, dated June 30, 2025
                        104                                         Cover Page Interactive Data File (embedded within Inline XBRL document)



    SIGNATURE
    Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

     
    SERITAGE GROWTH PROPERTIES
       
     
    By:
     
    /s/ Matthew Fernand
         
    Matthew Fernand
         
    Chief Legal Officer and Corporate Secretary

    Date: July 1, 2025






    Get the next $SRG alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $SRG

    DatePrice TargetRatingAnalyst
    7/12/2023$14.00Buy
    Odeon
    More analyst ratings

    $SRG
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Odeon initiated coverage on Seritage Growth Properties with a new price target

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

      7/12/23 9:05:29 AM ET
      $SRG
      Real Estate
      Finance

    $SRG
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Chief Operating Officer Dinenberg Eric covered exercise/tax liability with 4,772 units of Class A Common Shares, decreasing direct ownership by 10% to 44,321 units (SEC Form 4)

      4 - Seritage Growth Properties (0001628063) (Issuer)

      3/18/25 4:26:17 PM ET
      $SRG
      Real Estate
      Finance
    • Chief Legal Officer Fernand Matthew E covered exercise/tax liability with 5,074 units of Class A Common Shares, decreasing direct ownership by 7% to 66,029 units (SEC Form 4)

      4 - Seritage Growth Properties (0001628063) (Issuer)

      3/18/25 4:23:24 PM ET
      $SRG
      Real Estate
      Finance
    • CEO and President Olshan Andrea covered exercise/tax liability with 26,605 units of Class A Common Shares, decreasing direct ownership by 12% to 192,367 units (SEC Form 4)

      4 - Seritage Growth Properties (0001628063) (Issuer)

      3/18/25 4:20:13 PM ET
      $SRG
      Real Estate
      Finance

    $SRG
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Seritage Growth Properties Makes $40 Million Loan Prepayment

      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 r

      6/11/25 4:35:00 PM ET
      $SRG
      Real Estate
      Finance
    • SURMOUNT Announces Formation of Leadership Advisory Board Comprised of Industry-Leading Real Estate Executives

      SURMOUNT, a newly launched full-service global commercial real estate platform, today announced the formation of its Leadership Advisory Board. The board brings together highly accomplished and respected leaders from across the real estate and real estate finance industries to provide strategic guidance as the firm continues to scale its operations across net lease advisory, sale leaseback, development, capital markets, and principal investments. "We're honored to welcome such a distinguished group of industry executives to our Leadership Advisory Board," said Glen Kunofsky, Chief Executive Officer of SURMOUNT. "Their combined experience spans every facet of real estate—from investment an

      6/3/25 9:00:00 AM ET
      $SRG
      Real Estate
      Finance
    • Seritage Growth Properties Announces CEO Transition

      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

      3/28/25 6:30:00 AM ET
      $SRG
      Real Estate
      Finance

    $SRG
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Yakira Capital Management, Inc. bought $470,000 worth of 7.00 % Series A Cumulative Redeemable Preferred Shares (23,500 units at $20.00) (SEC Form 4)

      4 - Seritage Growth Properties (0001628063) (Issuer)

      5/22/24 4:00:34 PM ET
      $SRG
      Real Estate
      Finance
    • SEC Form 4 filed by Ursa Fund Partners Lp

      4 - Seritage Growth Properties (0001628063) (Issuer)

      4/10/24 12:13:12 PM ET
      $SRG
      Real Estate
      Finance
    • Yakira Capital Management, Inc. bought $130,899 worth of 7.00 % Series A Cumulative Redeemable Preferred Shares (5,490 units at $23.84) (SEC Form 4)

      4 - Seritage Growth Properties (0001628063) (Issuer)

      12/27/23 5:03:04 PM ET
      $SRG
      Real Estate
      Finance

    $SRG
    SEC Filings

    See more
    • Seritage Growth Properties filed SEC Form 8-K: Leadership Update

      8-K - Seritage Growth Properties (0001628063) (Filer)

      7/1/25 4:15:30 PM ET
      $SRG
      Real Estate
      Finance
    • Seritage Growth Properties filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

      8-K - Seritage Growth Properties (0001628063) (Filer)

      6/11/25 4:40:03 PM ET
      $SRG
      Real Estate
      Finance
    • Seritage Growth Properties filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders, Financial Statements and Exhibits

      8-K - Seritage Growth Properties (0001628063) (Filer)

      6/11/25 4:15:37 PM ET
      $SRG
      Real Estate
      Finance

    $SRG
    Leadership Updates

    Live Leadership Updates

    See more
    • Seritage Growth Properties Announces CEO Transition

      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

      3/28/25 6:30:00 AM ET
      $SRG
      Real Estate
      Finance
    • Seritage Growth Properties Files Preliminary Proxy Materials

      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

      7/7/22 5:35:00 PM ET
      $SRG
      Real Estate
      Finance
    • Seritage Growth Properties Appoints Three New Members to Its Board of Trustees

      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

      4/28/22 4:15:00 PM ET
      $SRG
      Real Estate
      Finance

    $SRG
    Financials

    Live finance-specific insights

    See more
    • Seritage Growth Properties Reports First Quarter 2024 Operating Results

      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

      5/10/24 4:27:00 PM ET
      $SRG
      Real Estate
      Finance
    • Seritage Growth Properties Reports Fourth Quarter and Full Year 2023 Operating Results

      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

      4/1/24 6:20:00 PM ET
      $SRG
      Real Estate
      Finance
    • Seritage Growth Properties Makes $30 Million Loan Prepayment

      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

      1/30/24 4:30:00 PM ET
      $SRG
      Real Estate
      Finance

    $SRG
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by Seritage Growth Properties

      SC 13G/A - Seritage Growth Properties (0001628063) (Subject)

      11/14/24 11:42:12 AM ET
      $SRG
      Real Estate
      Finance
    • Amendment: SEC Form SC 13G/A filed by Seritage Growth Properties

      SC 13G/A - Seritage Growth Properties (0001628063) (Subject)

      7/10/24 2:33:17 PM ET
      $SRG
      Real Estate
      Finance
    • SEC Form SC 13G/A filed by Seritage Growth Properties (Amendment)

      SC 13G/A - Seritage Growth Properties (0001628063) (Subject)

      5/22/24 4:01:04 PM ET
      $SRG
      Real Estate
      Finance