Seritage Growth Properties On Friday May 10, 2024 Said It Is Negotiating An Agreement On The Sale Of 4 Assets For Gross Proceeds Of $79.1M

5/13/24 9:49:30 AM ET

$SRG

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The Company has accepted offers on and is currently negotiating definitive purchase and sale agreements on four assets for total gross proceeds of approximately $79.1 million including:
- $24.0 million in gross proceeds from one income producing Multi-Tenant Retail asset reflecting a 8.5% capitalization rate;
- $8.1 million in gross proceeds from one vacant / non-income producing Non-Core assets to be sold at $55.18 PSF eliminating $0.3 million of carry costs; and
- $47.0 million in gross proceeds from monetizing two unconsolidated entity interests.

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Recent Analyst Ratings for
$SRG

Date	Price Target	Rating	Analyst
7/12/2023	$14.00	Buy	Odeon

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Seritage Growth Properties Makes $15 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 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
12/2/24 4:30:00 PM ET
$SRG
Real Estate
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Seritage Growth Properties Makes $25 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 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
10/23/24 4:30:00 PM ET
$SRG
Real Estate
Finance
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
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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
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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
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Seritage Growth Properties Announces Termination of REIT Election
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
3/31/22 8:00:00 AM ET
$SRG
Real Estate
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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
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Seritage Growth Properties On Friday May 10, 2024 Said It Is Negotiating An Agreement On The Sale Of 4 Assets For Gross Proceeds Of $79.1M

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Recent Analyst Ratings for
$SRG

$SRG
Press Releases

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Seritage Growth Properties Makes $15 Million Loan Prepayment

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Chief Operating Officer Dinenberg Eric covered exercise/tax liability with 4,350 units of Class A Common Shares, decreasing direct ownership by 8% to 49,093 units (SEC Form 4)

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

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

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)

SEC Form 4 filed by Ursa Fund Partners Lp

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)

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Amendment: SEC Form SCHEDULE 13G/A filed by Seritage Growth Properties

Amendment: SEC Form SCHEDULE 13G/A filed by Seritage Growth Properties

Seritage Growth Properties filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

Seritage Growth Properties Reports First Quarter 2024 Operating Results

Seritage Growth Properties Reports Fourth Quarter and Full Year 2023 Operating Results

Seritage Growth Properties Makes $30 Million Loan Prepayment

Seritage Growth Properties On Friday May 10, 2024 Said It Is Negotiating An Agreement On The Sale Of 4 Assets For Gross Proceeds Of $79.1M

Chat with this insight

Recent Analyst Ratings for $SRG

$SRG Press Releases

Fastest customizable press release news feed in the world

Seritage Growth Properties Makes $15 Million Loan Prepayment

Seritage Growth Properties Makes $25 Million Loan Prepayment

Seritage Growth Properties Reports First Quarter 2024 Operating Results

$SRG Insider Trading

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

Chief Operating Officer Dinenberg Eric covered exercise/tax liability with 4,350 units of Class A Common Shares, decreasing direct ownership by 8% to 49,093 units (SEC Form 4)

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)

SEC Form 4 filed by Ursa Fund Partners Lp

$SRG Large Ownership Changes

This live feed shows all institutional transactions in real time.

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

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

SEC Form SC 13G/A filed by Seritage Growth Properties (Amendment)

$SRG Analyst Ratings

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$SRG Insider Purchases

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

$SRG Leadership Updates

Live Leadership Updates

$SRG SEC Filings

$SRG Financials

Live finance-specific insights

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

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)

SEC Form 4 filed by Ursa Fund Partners Lp

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)

Seritage Growth Properties Files Preliminary Proxy Materials

Seritage Growth Properties Appoints Three New Members to Its Board of Trustees

Seritage Growth Properties Announces Termination of REIT Election

Amendment: SEC Form SCHEDULE 13G/A filed by Seritage Growth Properties

Amendment: SEC Form SCHEDULE 13G/A filed by Seritage Growth Properties

Seritage Growth Properties filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

Seritage Growth Properties Reports First Quarter 2024 Operating Results

Seritage Growth Properties Reports Fourth Quarter and Full Year 2023 Operating Results

Seritage Growth Properties Makes $30 Million Loan Prepayment

Recent Analyst Ratings for
$SRG

$SRG
Press Releases

$SRG
Insider Trading

$SRG
Large Ownership Changes

$SRG
Analyst Ratings

$SRG
Insider Purchases

$SRG
Leadership Updates

$SRG
SEC Filings

$SRG
Financials