Canada Markets open in 8 hrs 58 mins

This REIT Just Abandoned Its Strategy

·4 min read
This REIT Just Abandoned Its Strategy
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Back in 2015, Seritage Growth Properties (NYSE: SRG) was formed to buy a substantial chunk of Sears Holdings' real estate, giving the struggling retail icon a $2.7 billion cash infusion. At the time of the sale, nearly all of the properties were leased back to Sears and Kmart. Seritage Growth Properties ran into numerous obstacles while trying to execute its redevelopment plan.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting