SERITAGE GROWTH PROPERTIES (NYSE:SRG) Files An 8-K Other EventsItem 8.01. Other Events.
On July 13, 2017, Seritage Growth Properties (together with its subsidiaries, "Seritage") issued a press release announcing that it has entered into two transactions with a subsidiary of GGP Inc. (together with its subsidiaries, "GGP"). In the first transaction, Seritage sold to GGP its 50% interest in eight of the 12 assets owned by its existing joint venture with GGP for gross consideration of $190.1 million. In the second transaction, Seritage entered into a new joint venture with respect to five of its wholly-owned assets whereby GGP has acquired from Seritage a 50% interest for $57.5 million. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
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Exhibit No. |
Description |
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99.1 |
Press release of Seritage Growth Properties, dated July 13, 2017. |
Seritage Growth Properties ExhibitEX-99.1 2 pressrelease.htm Exhibit 99.1 Seritage Growth Properties Announces Joint Venture Transactions With GGP Inc. New York,…To view the full exhibit click here
About SERITAGE GROWTH PROPERTIES (NYSE:SRG)
Seritage Growth Properties (Seritage) is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged in the acquisition, ownership, development, redevelopment, and management and leasing of diversified retail real estate across the United States. The Company’s assets are held by and its operations are primarily conducted through directly or indirectly, by Seritage Growth Properties, L.P. Its portfolio include approximately 42.4 million square feet of gross leasable area (GLA), which consists of approximately 230 owned properties totaling over 37.0 million square feet of GLA across approximately 49 states and Puerto Rico and interests in approximately 30 joint venture properties totaling over 5.4 million square feet of GLA across approximately 17 states. Its portfolio includes over 3,000 acres of land, or approximately 10 acres per site for its owned properties.