Seritage Growth Properties
Company Overview
Seritage Growth Properties was a retail real estate investment trust (REIT) that was formed to unlock the underlying real estate value of a portfolio consisting of 266 properties totaling over 42 million square feet of space across 49 states and Puerto Rico. The company was established in July 2015 when it was spun off from Sears Holdings Corporation.
However, in March 2023, Seritage Growth Properties announced the completion of its Plan of Sale and liquidation. The company has been selling its assets and distributing proceeds to shareholders as part of its liquidation process.
Use of Interest
| Reporting Date | Total Revenue | Total Operating Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| Sept. 30, 2024 | $3.25m | $29.44m | - | $6.92m | 0.00% | 23.52% |
| June 30, 2024 | $4.22m | $106.15m | - | $6.28m | 0.00% | 5.92% |
| March 31, 2024 | $5.77m | $27.69m | - | $7.01m | 0.00% | 25.32% |
Company Impact
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