SERITAGE GROWTH PROPERTIES (BIT:SRG) Files An 8-K Other EventsItem 8.01
On January 3, 2017, to the terms of the master lease (the “Master Lease”) between subsidiaries of Seritage Growth Properties (“Seritage”) and subsidiaries of Sears Holdings Corp. (“Sears Holdings”), Sears Holdings exercised its right under the Master Lease to terminate the Master Lease with respect to 19 unprofitable stores totaling 1.9 million square feet of gross leasable area. The aggregate annual base rent at these stores is approximately $5.9 million, or 2.7% of the Company’s total annual base rent as of September 30, 2016, including all signed leases. Sears Holdings will continue to pay Seritage rent until it vacates the stores which is expected to occur in April 2017. Sears Holdings will also pay Seritage a termination fee equal to one year of the aggregate annual base rent, plus one year of estimated annual operating expenses.
About SERITAGE GROWTH PROPERTIES (BIT:SRG)
Snam SpA is an Italy-based company engaged in the management of natural gas services. The Company is diversified into four operating segments. The Transportation segment covers transportation-related gas services, including capacity management and transportation of the gas at the entry points of the gas network to the redelivery points. It owns transportation infrastructures of gas pipelines. The Regasification segment is focused on extraction activities of natural gas, its liquefaction for transport by ship and subsequent regasification. The Storage segment covers deposits, gas treatment plants, compression plants and the operational dispatching system. The Distribution segment engages gas distribution through local transportation networks from delivery points at the metering and reduction stations to the gas distribution network redelivery points at the end customers. Additionally, Snam SpA as the parent company, focuses on planning, management, coordination and control of the group. SERITAGE GROWTH PROPERTIES (BIT:SRG) Recent Trading Information
SERITAGE GROWTH PROPERTIES (BIT:SRG) closed its last trading session down -0.01 at 3.91 with 11,485,801 shares trading hands.