Summary
Seritage Growth Properties: Pace Of Asset Sales Accelerates
Seritage completed the sale of three properties in Q2 2025, while having contracts for the sale of another three properties. As well, it is in negotiations on another five assets, leaving only seven assets for which it hasn't entered into sales negotiations yet. The faster pace of sales should reduce Seritage's future costs such as interest expenses and development costs.
SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Seritage Growth Properties - SRG
NEW YORK, NY / ACCESSWIRE / September 1, 2024 / Pomerantz LLP announces that a class action lawsuit has been filed against Seritage Growth Properties ("Seritage" or the "Company") (NYSE:SRG). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext.
SRG LAWSUIT ALERT: Levi & Korsinsky Notifies Seritage Growth Properties Investors of a Class Action Lawsuit and Upcoming Deadline
NEW YORK, NY / ACCESSWIRE / August 30, 2024 / If you suffered a loss on your Seritage Growth Properties (NYSE:SRG) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.
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SRG Global Limited Profile
| Retail REITs Industry | Real Estate Sector | Adam Metz CEO | CXA Exchange | US81752R1005 ISIN |
| US Country | 7 Employees | 11 Apr 2019 Last Dividend | - Last Split | 6 Jul 2015 IPO Date |
Overview
Seritage is a real estate company with a primary focus on the ownership, development, redevelopment, management, and leasing of retail and mixed-use properties across the United States. As of the most recent data on September 30, 2023, Seritage boasts a diversified portfolio that includes interests in 42 properties. This portfolio encompasses approximately 5.6 million square feet of gross leasable area (GLA) or build-to-suit leased area. In addition to its developed properties, the company holds around 126 acres for future development or currently under development. Furthermore, there are about 2.9 million square feet or approximately 259 acres designated for disposal. These assets are split between 33 wholly owned properties, accounting for around 4.3 million square feet of GLA (referred to as the Consolidated Properties), and 9 unconsolidated entities representing about 1.2 million square feet of GLA (referred to as the Unconsolidated Properties).
Products and Services
- Ownership
- Development and Redevelopment
- Management and Leasing
- Build-to-Suit Leased Area
- Land Development and Disposal
Seritage maintains ownership of a variety of retail and mixed-use properties. This encompasses a wide array of assets specifically designed and positioned for retail operations and mixed-use developments. Seritage's portfolio strategy ensures a mix of locations and property types to diversify risk and leverage local market dynamics.
One of the key services offered by Seritage is the development and redevelopment of properties. This includes transforming existing structures into more valuable assets through strategic refurbishment or complete redevelopment, tailoring spaces to meet current market demands and tenant needs. These projects span from small-scale refurbishments to major mixed-use developments, enhancing the value and appeal of their portfolio.
Seritage also provides comprehensive property management and leasing services. This includes everything from daily operations and maintenance to marketing spaces to potential tenants. By offering these services, Seritage ensures that their properties are not just well-maintained but also fully leased, with an optimal mix of tenants to ensure steady rental income and property valuation growth over time.
The company engages in build-to-suit projects, where properties are developed or redeveloped with a specific tenant in mind. These projects are customized to meet the unique requirements of the tenant, providing them with a space that perfectly suits their business needs while securing long-term lease commitments for Seritage.
Apart from developed properties, Seritage actively holds and develops land for future use or development. This strategic land holding allows for future expansion or development projects. Similarly, the company also identifies properties or land parcels within its portfolio for disposal, targeting opportunities to divest non-core assets or those that have reached their maximum value under the company's ownership.
Contact Information
