Financing ·
On July 24, 2026, Seritage Growth Properties entered into a $15.0 million term loan and a $25.0 million revolving…
SRG-PASeritage Growth Properties
On July 24, 2026, Seritage Growth Properties entered into a $15.0 million term loan and a $25.0 million revolving credit facility with b1Bank, maturing July 24, 2028. The company drew $15.0 million from the revolving facility and used the proceeds, along with cash on hand, to repay the $50.0 million outstanding balance of its existing loan from Berkshire Hathaway. The new term loan bears interest at One Month SOFR plus 2.75%, while the revolving facility carries a rate of 2.00% plus the money market rate on cash collateral. On July 28, 2026, the Board declared a quarterly cash dividend of $0.4375 per share for the 7.00% Series A Cumulative Redeemable Preferred Shares, payable October 15, 2026, to holders of record on September 30, 2026. Seritage Growth Properties is a real estate investment trust that owns and operates a portfolio of commercial real estate assets.