Seritage Growth Properties: No Further Reported Progress In Contracts For Asset Sales
Seritage Growth Properties has reported no assets under contract for probable closings as of mid-May 2026. The company is experiencing significant cash burn and has a term loan debt of $50 million maturing soon. Additionally, it has faced approximately $20 million in asset impairments, indicating potential risks to its financial stability.
- ▪Seritage has no assets under contract with probable closings as of mid-May 2026.
- ▪The company is burning cash at a rate of $9 million to $10 million per quarter.
- ▪Seritage has $50 million in term loan debt maturing at the end of July.
- ▪The company reported approximately $20 million in asset impairments during the quarter.
- ▪Estimates place Seritage's value at $2.25 to $2.75 per share.
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