Welcome to our dedicated page for Seritage Growth Pptys news (Ticker: SRG), a resource for investors and traders seeking the latest updates and insights on Seritage Growth Pptys stock.
Seritage Growth Properties (NYSE: SRG) is a real estate company in the Lessors of Other Real Estate Property industry that has been a national owner and developer of retail, residential and mixed-use properties in the United States. The SRG news feed highlights how the company is executing its shareholder-approved Plan of Sale, reporting on asset sales, leasing milestones, loan prepayments and governance developments that shape the outlook for its Class A common shares of beneficial interest.
News updates from Seritage frequently cover quarterly and annual operating results, including net loss attributable to common shareholders, net operating income on a cash basis at share, impairment charges on real estate, and cash and liquidity positions. Releases also describe asset disposition activity, such as sales of income-producing properties, premier development sites, vacant or non-income-producing assets, and interests in unconsolidated entities, along with information on properties under contract or in purchase and sale agreement negotiations.
Another recurring theme in SRG news is capital structure management. The company reports voluntary prepayments on its senior secured term loan facility provided by Berkshire Hathaway Life Insurance Company of Nebraska, the cumulative amount repaid since late 2021, and the remaining outstanding balance. Filings and press releases also discuss the exercise of an option to extend the term loan’s maturity date and the associated fees.
Investors following SRG news can also see disclosures on leasing progress at multi-tenant retail and premier mixed-use assets, including in-place leases, signed-not-opened leases and occupancy levels, as well as updates on litigation matters and dividend declarations on the company’s 7.00% Series A cumulative redeemable preferred shares. Bookmark this page to monitor how Seritage’s asset sales, leasing activity and financing decisions are reflected in its latest press releases and regulatory announcements.
Seritage Growth Properties (NYSE: SRG) announced a voluntary prepayment of $20.0 million toward its $1.6 billion term loan facility provided by Berkshire Hathaway Life Insurance Company of Nebraska. With this payment, the company has repaid a total of $1.55 billion since December 2021, leaving $50 million outstanding on the facility.
The current prepayment is expected to reduce Seritage’s annual interest expense on the term loan by approximately $1.4 million, and the cumulative repayments since December 2021 have lowered annual interest expense by about $110.0 million.
Seritage Growth Properties (NYSE: SRG) announced a voluntary prepayment of $130.0 million toward its $1.6 billion term loan facility provided by Berkshire Hathaway Life Insurance Company of Nebraska. The prepayment was funded from proceeds of recent property sales, including the sale of the Aventura, FL property.
With this payment, Seritage has repaid a total of $1.53 billion since December 2021, leaving $70 million outstanding. The current prepayment reduces Seritage’s annual interest expense on the term loan by approximately $9.2 million, and cumulative repayments since December 2021 have lowered annual interest expense by about $108.6 million.
Summary not available.
Seritage Growth Properties (NYSE:SRG), a national real estate developer, reported Q2 2025 financial results with significant progress in its Plan of Sale strategy. The company generated $31.1 million in gross proceeds from asset sales and has three additional assets under contract for anticipated proceeds of $109.8 million.
Key financial metrics include cash on hand of $80.1 million as of June 30, 2025, and a net loss of ($29.7) million or ($0.53) per share. The company successfully extended its Term Loan Facility maturity to July 31, 2026, after making a $40 million principal repayment and paying $8 million in extension fees.
The company is currently negotiating sales agreements for five additional assets with potential proceeds of $226.4 million. Portfolio performance shows strong occupancy with 92% leased space in Multi-Tenant retail properties and significant leasing progress in Premier Mixed-Use assets.
Seritage Growth Properties (NYSE: SRG) reported its Q4 and full year 2024 results, highlighting progress in its Plan of Sale strategy. The company generated $50.8 million from selling three vacant assets and $11.0 million from monetizing unconsolidated entity interests in Q4. Post-quarter, they secured $29.9 million from an income-producing asset sale.
Financial highlights include: cash on hand of $97.7 million as of December 31, 2024, net loss of $(158.4) million or $(2.82) per share, and NOI-cash basis at share of $2.6 million. The company reduced its Term Loan Facility to $240.0 million through $120.0 million in principal repayments.
The company anticipates marketing a majority of its assets in 2025, including development sites and leased properties. A significant development asset is under negotiation for approximately $70.0 million. Additionally, CEO Andrea Olshan will step down effective April 11, 2025, with Board Chairman Adam Metz appointed as Interim CEO.
Seritage Growth Properties (NYSE: SRG) announced a significant leadership transition, with CEO and President Andrea Olshan stepping down effective April 11, 2025. Board Chairman Adam Metz will assume the role of Interim CEO and President. The transition comes as the company's portfolio has dramatically reduced from 160 to 15 assets since announcing its strategic alternatives review in March 2022.
Under Olshan's four-year tenure, Seritage has made substantial progress in its Plan of Sale, notably repaying over $1.3 billion of loan facility and streamlining operations. As of September 30, 2024, the company's portfolio includes interests in 21 properties, comprising approximately 2.7 million square feet of gross leasable area and 342 acres of land, split between 12 consolidated and 9 unconsolidated properties.
Seritage Growth Properties (NYSE: SRG) has made a voluntary prepayment of $15 million toward its $1.6 billion term loan facility from Berkshire Hathaway Life Insurance Company of Nebraska. The company has now repaid a total of $1.36 billion since December 2021, leaving $240 million outstanding. This latest prepayment will reduce annual interest expense by $1.05 million, while cumulative repayments have decreased annual interest expenses by approximately $95.2 million.
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