Seritage Growth Properties On Friday May 10, 2024 Said It Is Negotiating An Agreement On The Sale Of 4 Assets For Gross Proceeds Of $79.1M
Portfolio Pulse from Benzinga Newsdesk
Seritage Growth Properties (SRG) is in the process of negotiating the sale of four assets for a total of $79.1M. The sale includes a Multi-Tenant Retail asset for $24.0M, a vacant Non-Core asset for $8.1M, and interests in two unconsolidated entities for $47.0M.

May 13, 2024 | 1:49 pm
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Seritage Growth Properties is negotiating the sale of four assets totaling $79.1M, which could significantly impact its financial position and investor perception.
The sale of these assets, particularly the income-producing Multi-Tenant Retail asset, could provide a significant influx of cash for SRG. This move is likely to be viewed positively by investors as it demonstrates the company's ability to monetize its assets effectively. The specific mention of the capitalization rate for the retail asset and the elimination of carry costs for the non-core asset further underline the strategic nature of these sales. However, the impact on the stock price will depend on the market's perception of the sales' effectiveness in improving SRG's financial health and strategic position.
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