Recent Updates — SRG-PA

Seritage Growth Properties reported a net loss attributable to common shareholders of $7.4 million ($0.13 per share) for the second quarter ended June 30, 2026, and $38.9 million ($0.69 per share) for the six-month period. The company generated $11.0 million in gross proceeds from asset sales during Q2 and subsequently sold another property for $3.0 million while receiving an $8.9 million distribution from an unconsolidated entity. Management refinanced its debt by entering into a new $15.0 million term loan and a $25.0 million revolving facility, drawing $15.0 million to fully repay the previous $50.0 million Term Loan Facility. The Board declared a quarterly dividend of $0.4375 per share on its Series A preferred shares for the period ending September 30, 2026. Seritage Growth Properties is a real estate investment trust that owns and develops retail, residential, and mixed-use 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.