49.29 0.00 (0.00%)
After hours: 5:41PM EDT
|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||48.72 - 49.55|
|52 Week Range||34.07 - 51.89|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 31, 2018 - Nov 5, 2018|
|Forward Dividend & Yield||1.00 (2.00%)|
|1y Target Est||44.00|
Landmark Mall owner Howard Hughes Corp. (NYSE: HHC) is in talks to form joint venture with the owner of the Sears department store at the site. The move would mean Seritage Growth Properties (NYSE: SRG), the real estate investment trust that now owns many current and former Sears properties, would remain part of the project going forward. Initially, it seemed more likely Howard Hughes would try to acquire the property outright. Sears is the last holdout in the shuttered mall, which has been primed for redevelopment for more than a decade. Howard Hughes bought the interior mall portion in 2009, and acquired the Macy’s store attached to the mall in 2016.
Seritage Growth Properties (SRG), a national owner and developer of retail and mixed-use projects, along with its joint venture partner Invesco Real Estate, a global real estate investment manager, today announced that construction has commenced to transform the former Sears building located in the heart of Santa Monica into The Mark 302, an iconic creative office and retail destination situated blocks from the beach in one of the most desirable locations in the country.
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Real estate spinoff Seritage is enjoying success redeveloping former Sears retail sites across the country, while Sears Holding Corp. continues to decline.
Nearly a year after closing, the former Sears and Sears Auto Center in Overland Park at 9701 Metcalf Ave. remain on the market for lease.
NEW YORK, Aug. 08, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of ON ...
Most of Seritage's key financial metrics deteriorated last quarter. However, leasing activity accelerated and asset sales covered the Sears spinoff's redevelopment spending.
NEW YORK (AP) _ Seritage Growth Properties (SRG) on Thursday reported a key measure of profitability in its second quarter. The real estate investment trust, based in New York, said it had funds from operations of $8.5 million, or 15 cents per share, in the period. Funds from operations is a closely watched measure in the REIT industry.
Corp. provided a payday for the retailer’s CEO as he extends credit to keep Sears running and mulls potential asset deals. Seritage also paid back $1.1 billion in debt to JPMorgan Chase & Co. and H/2 Capital Partners.
Seritage Growth Properties , a national owner of 248 retail properties totaling approximately 39 million square feet of gross leasable area , today reported financial and operating results for the three and six months ended June 30, 2018.
The anchors of Seritage Growth Properties' (NYSE: SRG) 10,341-square-foot Shoppes at Orlando Fashion Square are nearing completion. Only signage and a few exterior details are missing from the 40,000-square-foot Orchard Supply Hardware store and 60,000-square-foot Floor & Decor (NYSE: FND), both now in place at Orlando Fashion Square Mall's former Sears location by the northeast corner of East Colonial Drive and Maguire Boulevard.
Seritage says it already has used part of the loan from Berkshire to repay an outstanding mortgage loan and unsecured term loan. The REIT plans to use the funds to forge ahead with its plans to redevelop the Sears properties in its portfolio. Warren Buffett himself was an early investor in Seritage and is still a top stakeholder.
Seritage Growth Properties investors no longer have to wonder how the Sears Holdings spinoff will fund the redevelopment of its real-estate portfolio.
Warren Buffett’s Berkshire Hathaway Inc. agreed to loan up to $2 billion to Seritage Growth Properties, a real-estate investment trust created by Sears Holding Corp. Seritage said it already used part of the loan to repay an outstanding mortgage loan and unsecured term loan. Sears spun off more than 200 of its top properties and joint venture interests to Seritage in 2015.
A term loan facility is a financial assistance program offered by a lending institution to help a company that requires operating capital, that has to be repaid within a time limit. Seritage used a portion of the proceeds from the Initial Funding to fully repay its outstanding mortgage loan and unsecured term loan.
Real-estate developer Seritage Growth Properties said on Tuesday it has entered into a $2.0 billion term loan facility with Berkshire Hathaway Life Insurance Company of Nebraska, a unit of The Berkshire Hathaway Reinsurance Group. A term loan facility is a financial assistance program offered by a lending institution to help a company that requires operating capital, that has to be repaid within a time limit. Seritage used a portion of the proceeds from the Initial Funding to fully repay its outstanding mortgage loan and unsecured term loan.
Seritage Growth Properties (SRG) (the “Company”), a national owner of 249 properties totaling over 39 million square feet of gross leasable area, announced today that the Company has entered into a $2.0 billion term loan facility (the “Term Loan Facility”) with Berkshire Hathaway Life Insurance Company of Nebraska. “This new financing is a transformational step in the evolution of our Company, which we started three years ago, and positions us to further accelerate our role as a leading retail and mixed-use developer across the country,” said Benjamin Schall, President and Chief Executive Officer.
The multi-property lease agreement will bring 17 corporate and franchisee-owned gyms to major metropolitan areas across ten states and is a part of Blink Fitness' aggressive strategic growth strategy. "At a time when many retailers are shutting their doors, Blink is thriving. Seritage recognized our strengths and was eager to find real estate opportunities for us across the country as we continue to grow our footprint," said Todd Magazine, CEO of Blink Fitness.
Seritage Growth Properties announced today that its Board of Trustees declared a cash dividend of $0.25 per Class A and Class C common share for the third quarter of 2018.