Seritage Growth Properties (NYSE: SRG) prepays $20M, trimming loan to $50M

Rhea-AI Filing Summary

Seritage Growth Properties announced that it voluntarily prepaid $20 million on its $1.6 billion senior secured term loan facility dated July 31, 2018.

Following this payment, the company has repaid $1.55 billion on the facility since December 2021, leaving $50 million outstanding and reducing its total annual interest expense on the term loan by approximately $1.4 million. The current report is an amendment filed mainly to correct a typographical error in the header of a previously filed exhibit and does not alter the substantive disclosure.

Positive

• Major term loan reduction: Seritage has repaid $1.55 billion of its original $1.6 billion senior secured term loan since December 2021, leaving only $50 million outstanding.
• Lower interest burden: The latest $20 million voluntary prepayment is expected to reduce total annual interest expense on the term loan by about $1.4 million.

Negative

• None.

Insights

Credit and capital structure analyst

Seritage nearly finishes paying down a major term loan, easing interest costs.

Seritage Growth Properties voluntarily prepaid $20 million on its senior secured term loan dated July 31, 2018. This facility was originally $1.6 billion, so the latest payment is part of a multi-year deleveraging effort.

Since December 2021, the company has now repaid $1.55 billion, leaving only $50 million outstanding under the agreement with Berkshire Hathaway Life Insurance Company of Nebraska. The filing states that this prepayment reduces total annual interest expense related to the term loan by about $1.4 million, which directly supports lower ongoing financing costs.

The amendment itself is administrative, correcting a typographical error in an exhibit header without changing substantive information. From a credit perspective, the key takeaway is the sharply reduced balance on the term loan and the associated decline in interest expense, while future steps in the capital structure will be seen in subsequent company filings.

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

FORM 8-K/A

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 04, 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. ☐

Explanatory Note

Seritage Growth Properties is filing an amendment to its Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on December 4, 2025 (the “Original Form 8-K”) solely for the purpose of correcting a typographical error in the header of Exhibit 99.1 to the Original Form 8-K so the Exhibit is consistent with the issued release. Other than as set forth in this Explanatory Note, this amendment does not amend any other disclosures in the Original Form 8-K.

Item 7.01 Regulation FD Disclosure.

On December 4, 2025, Seritage Growth Properties (the “Company”) issued a press release announcing that it made a voluntary prepayment of $20 million toward its $1.6 billion senior secured term loan facility dated July 31, 2018, among the Company, Seritage Growth Properties, L.P. and Berkshire Hathaway Life Insurance Company of Nebraska (as amended by amendment no. 1, dated May 5, 2020, by amendment no. 2, dated November 24, 2021, by amendment no. 3, dated June 16, 2022, and by amendment no. 4, dated November 20, 2024, the "Term Loan Agreement").

Following the prepayment, the Company has now repaid a total of $1.55 billion since December 2021 and $50 million remains outstanding under the Term Loan Agreement. The current prepayment will reduce Seritage’s total annual interest expense related to the term loan facility by approximately $1.4 million.

In accordance with General Instruction B.2 of Form 8-K, the information in item 7.01, including Exhibit 99.2, is being furnished to the SEC and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
99.1		Press release dated December 4, 2025
104		Cover Page Interactive Data File (embedded within Inline XBRL document)

SIGNATURES

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 thereunto duly authorized.

			SERITAGE GROWTH PROPERTIES
Date:	December 4, 2025	By:	/s/ Matthew Fernand
			Matthew Fernand Chief Legal Officer and Corporate Secretary

FAQ

What did Seritage Growth Properties (SRG) announce in this 8-K/A?

Seritage Growth Properties announced that it made a voluntary prepayment of $20 million on its senior secured term loan facility and that this amendment mainly corrects a typographical error in an exhibit header without changing the substance of the earlier disclosure.

How much of the senior secured term loan has Seritage Growth Properties (SRG) repaid so far?

The company has repaid a total of $1.55 billion on the senior secured term loan facility since December 2021.

What is the remaining balance on Seritage Growth Properties term loan after the latest prepayment?

After the latest $20 million voluntary prepayment, Seritage has $50 million remaining outstanding under the senior secured term loan agreement.

How will the prepayment affect Seritage Growth Properties interest expense?

The company states that the current prepayment will reduce its total annual interest expense related to the term loan facility by approximately $1.4 million.

Why is this filing labeled as an amendment (8-K/A) for Seritage Growth Properties (SRG)?

The report is an amendment filed solely to correct a typographical error in the header of Exhibit 99.1 so that the exhibit matches the issued press release; no other disclosures from the original report were changed.

Who is the lender under Seritage Growth Properties senior secured term loan facility?

The senior secured term loan facility is under a term loan agreement among Seritage Growth Properties, Seritage Growth Properties, L.P. and Berkshire Hathaway Life Insurance Company of Nebraska.