Seritage Growth Properties was principally engaged in the ownership, development, redevelopment, management, sale and leasing of diversified retail and mixed-use properties throughout the United States. As of March 31, 2026, the Company’s portfolio consisted of interests in 10 properties comprised of approximately 0.8 million square feet of gross leasable area or build-to-suit leased area and 154 acres of land. The portfolio encompasses five consolidated properties consisting of approximately 0.3 million square feet of GLA and 71 acres (such properties, the Consolidated Properties) and five unconsolidated entities consisting of approximately 0.5 million square feet of GLA and 83 acres (such properties, the Unconsolidated Properties). Seritage Growth Properties was incorporated in 2015 in Maryland, USA.
Seritage Growth Properties Reports Second Quarter 2026 Operating Results
Seritage Growth Properties reported Q2 net loss of $7.4 million, or $0.13 per share, a significant improvement from the $29.7 million loss a year ago, as the company advances its Plan of Sale wind-down.
The company closed on a refinancing, securing a new $15 million term loan and $25 million revolving facility to repay the prior $50 million term loan, leaving it with $48.6 million in cash and availability as of mid-August.
While asset sales generated $11.0 million in Q2 proceeds, the company recorded $20.4 million in total impairment charges during the six-month period and warned that challenging market conditions could adversely impact future sale proceeds.