Seritage Growth Properties Makes $25 Million Loan Prepayment
Seritage Growth Properties Class A (SRG)
NASDAQ:AMEX Investor Relations:
ir.seritage.com
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Seritage Growth Properties (NYSE: SRG) (the “Company”), a national owner and developer of retail, residential and mixed-use properties, today announced that on October 23, 2024, the Company has made a voluntary prepayment of $25 million toward its $1.6 billion term loan facility provided by Berkshire Hathaway Life Insurance Company of Nebraska (“Berkshire Hathaway”).With the prepayments, the Company has now repaid a total of $1.345 billion since December 2021 and $255 million of the term loan facility remains outstanding. The current prepayments will reduce Seritage’s total annual interest expense related to the term loan facility by approximately $1.75 million. The cumulative repayments since December 2021 have reduced Seritage’s total annual interest expense related to the term loan facility by approximately $94.1 million.About Seritage Growth PropertiesSeritage is principally engaged in the ownership, development, redevelopment, management and leasing
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News
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SRG
Sec Filings
- 11/12/24 - Form 8-K
- 11/12/24 - Form 10-Q
- 10/28/24 - Form 8-K
- SRG's page on the SEC website