Seritage Earnings Reports

Seritage Growth Properties reported a net loss of $22.2 million for the first quarter of 2025, an increase from the $19 million net loss in the same period last year. Revenue decreased to $4.6 million from $5.8 million year-over-year. The company continues its Plan of Sale strategy to repay debt and monetize assets amidst challenging market conditions.

Seritage Growth Properties reported a net loss attributable to common shareholders of ($23.2) million, or ($0.41) per share, for the three months ended September 30, 2024. The company generated $24.0 million of gross proceeds from the sale of an income producing asset reflecting a 8.5% capitalization rate.

Seritage Growth Properties reported a net loss attributable to common shareholders of $102.5 million, or $1.82 per share, for the second quarter ended June 30, 2024. The company generated $40.4 million in gross proceeds from sales and made $50.0 million in principal repayments on its term loan facility.