Seritage Growth Properties cuts term loan to $50M with $20M prepay

Seritage Growth Properties announced a voluntary prepayment of $20 million on its $1.6 billion senior secured term loan facility with Berkshire Hathaway Life Insurance Company of Nebraska.

Rhea-AI Filing Summary

Seritage Growth Properties announced a voluntary prepayment of $20 million on its $1.6 billion senior secured term loan facility with Berkshire Hathaway Life Insurance Company of Nebraska. This move continues the company’s multi‑year debt reduction effort.

Since December 2021, Seritage has repaid a total of $1.55 billion under the Term Loan Agreement, leaving $50 million outstanding. The latest prepayment is expected to lower the company’s total annual interest expense related to this facility by approximately $1.4 million, reducing ongoing financing costs and strengthening its balance sheet.

Positive

• Substantial term loan paydown: Seritage has repaid $1.55 billion of its $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 cut annual interest expense related to the term loan facility by approximately $1.4 million.

Negative

• None.

Insights

Real estate capital structure analyst

Seritage materially shrinks term debt, cutting interest costs by about $1.4M annually.

Seritage Growth Properties reports another voluntary prepayment of $20 million on its senior secured term loan. That facility originally totaled $1.6 billion, and the company has now repaid $1.55 billion since December 2021, leaving only $50 million outstanding under the Term Loan Agreement.

This continued deleveraging directly lowers financing costs. Management states that the current prepayment will reduce total annual interest expense tied to the term loan by approximately $1.4 million. For a real estate platform, such savings can improve cash flow flexibility and lessen exposure to interest rate conditions, with the remaining balance and terms governed by the existing agreement and its amendments.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What debt repayment did Seritage Growth Properties (SRG) announce?

Seritage Growth Properties announced a voluntary prepayment of $20 million on its senior secured term loan facility originally sized at $1.6 billion.

How much of the Seritage (SRG) term loan remains outstanding?

After the latest repayment, $50 million remains outstanding under Seritage’s senior secured term loan agreement.

How much debt has Seritage (SRG) repaid on its term loan since 2021?

Since December 2021, Seritage has repaid a total of $1.55 billion under its senior secured term loan agreement.

How will the new prepayment affect Seritage’s interest expense?

The company expects the current $20 million prepayment to reduce its total annual interest expense on the term loan facility by approximately $1.4 million.

Who is the lender under Seritage’s senior secured term loan facility?

The term loan facility is with Berkshire Hathaway Life Insurance Company of Nebraska, under a Term Loan Agreement dated July 31, 2018 and subsequently amended.

What was the purpose of Seritage’s 8-K filing related to this prepayment?

The 8-K furnishes a press release under Regulation FD describing Seritage’s voluntary $20 million prepayment, cumulative repayments of $1.55 billion, and the remaining $50 million balance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 12/04/2025 - 05:05 PM Learn about SEC filing dates

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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): 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. ☐

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