Seritage Growth Properties
Seritage Growth Properties (NYSE: SRG) is a publicly traded C-corp real estate company currently executing a shareholder-approved Plan of Sale to monetize its remaining 10 retail and mixed-use properties across six U.S. states following its 2015 spin-off from Sears Holdings.
- Company typePublic
- Founded2015
- HeadquartersNew York, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Seritage Growth Properties does
Seritage Growth Properties (NYSE: SRG) is a publicly traded, fully integrated C-corp real estate company headquartered at 500 Fifth Avenue, New York, that was formed in July 2015 to acquire and unlock the underlying real estate value of a 72-property, approximately 15.5 million square foot portfolio formerly owned by Sears Holdings. The company structures its operations across ownership, development, redevelopment, management, leasing, and disposition of retail, residential, and mixed-use properties, with peak coverage across California, Florida, Pennsylvania, Texas, Virginia, and Washington. It finances acquisitions primarily through a single $1.6 billion term loan facility originally provided by Berkshire Hathaway Life Insurance Company of Nebraska, of which approximately $1.55 billion has been repaid.
Since shareholder approval of the Plan of Sale in October 2022, the company's core operating activity has shifted from leasing and redevelopment to portfolio monetization. As of Q1 2026, the remaining portfolio consists of 10 properties totaling approximately 0.8 million square feet of gross leasable area and 156 acres of land. Revenue is generated from three streams: rental income from tenants (department stores such as Macy's, Bloomingdale's, Nordstrom, JCPenney, and Neiman Marcus, plus entertainment operators such as AMC Theatres and Dillard's), management and other fee income from unconsolidated joint-venture properties, and one-time gross proceeds from asset sales (which produced $230.7M in 2025). Pricing is property-by-property rather than product-based; capital allocation is dictated by debt amortization and disposition targets rather than recurring SaaS-style contracts.
The company faces material financial stress heading into mid-2026. Auditors have raised substantial doubt about Seritage's ability to continue as a going concern because its $50 million remaining term loan balance matures on July 31, 2026. FY2025 net loss was $73.1M and Q1 2026 net loss was $31.3M. The company is pursuing refinancing, additional asset sales, and is exploring a possible sale of the company, while operating with 1-10 employees and defending against securities class action and derivative lawsuits.
Seritage Growth Properties firmographics
Firmographics- Name
- Seritage Growth Properties
- Legal name
- Seritage Growth Properties
- Website
- https://seritage.com
- Company type
- Public
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Seritage Growth Properties (NYSE: SRG) is a publicly traded C-corp real estate company currently executing a shareholder-approved Plan of Sale to monetize its remaining 10 retail and mixed-use properties across six U.S. states following its 2015 spin-off from Sears Holdings.
- Ownership category
- akta.pro rank
Seritage Growth Properties industry classification
Industry- Product category
- Retail and Mixed-Use Real Estate
- NAICS
- Real Estate Property Managers (53131), Portfolio Management and Investment Advice (52394)
- SIC
- Real Estate Investment Trusts (6798), Real Estate Dealers (For Their Own Account) (6532)
- akta.pro primary industry
- Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK)
- akta.pro secondary industries
- Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL), Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)
Keywords
Where Seritage Growth Properties is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Seritage Growth Properties business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Personnel, Others, Supply Chain
Revenue model
- Rental income: Rental income from leasing retail, residential and mixed-use properties to tenants. Q1 2026 rental income was $1.9 million, down from $4.5 million in Q1 2025, reflecting the ongoing wind-down of the portfolio.
- Management and other fee income: Fees earned from managing properties, including unconsolidated joint venture properties.
- Asset sales and dispositions: Proceeds from selling properties to buyers. The company generated $230.7 million in gross proceeds from asset sales in 2025, with continued sales efforts in 2026.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Quarterly | Series A Cumulative Redeemable Preferred Shares dividend |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Seritage Growth Properties product offering
Product offeringCore offering
Seritage Growth Properties owns, operates, develops, leases, and sells retail, residential, and mixed-use real estate properties. The company generates revenue by leasing anchor retail space to department stores and entertainment operators, redeveloping select parcels into mixed-use or residential projects, and monetizing assets through a shareholder-approved Plan of Sale. Operations are conducted through consolidated subsidiaries and unconsolidated joint venture entities across six U.S. states.
Product overview
Seritage Growth Properties is a fully integrated real estate investment trust (REIT) structured as a C Corp that operates as a single, unified platform for owning, developing, managing, and selling retail, residential, and mixed-use properties. Originally formed in 2015 to unlock value from Sears Holdings properties, the company has been executing a shareholder-approved Plan of Sale since 2022, progressively reducing its portfolio through asset dispositions. The core offering consists of a portfolio of properties available for leasing and development, supplemented by development/redevelopment services for new projects and asset disposition services for selling properties. The company operates across multiple states including California, Florida, Pennsylvania, Texas, Virginia, and Washington, with active development projects in over a dozen locations.
Differentiator
Problem solved
Functional benefit
Products and services
- Seritage Real Estate Portfolio Owned real estate portfolio of retail, residential, and mixed-use properties available for leasing, redevelopment, or sale. As of December 31, 2025, the portfolio consisted of interests in 10 properties comprising approximately 0.8 million square feet of gross leasable area and 156 acres of land across California, Florida, Pennsylvania, Texas, Virginia, and Washington.
- Property Development Services Development and redevelopment of retail, residential, and mixed-use properties, including new development projects in Albany NY, Aventura FL, Braintree MA, Clearwater FL, Honolulu HI, King of Prussia PA, Madison WI, Memphis TN, Orlando FL, Springfield IL, St. Petersburg FL, Virginia Beach VA, Wayne NJ, and West Hartford CT.
- Construction Activity Services Construction and development management services for properties under development, including active projects in Memphis TN, Honolulu HI, San Antonio TX, and Braintree MA.
- Asset Disposition Services Sale and disposition of real estate assets as part of the shareholder-approved Plan of Sale, including marketing properties through real estate advisors such as Heartland LLC. Generated $230.7 million in gross proceeds during 2025 and an additional $11.0 million from one consolidated property subsequent to March 31, 2026.
- Leasing and Property Management Services Leasing and management of retail, residential, and mixed-use properties to tenants, including management of unconsolidated joint venture properties. Q1 2026 rental income was $1.9 million (down from $4.5 million in Q1 2025), reflecting the ongoing portfolio wind-down.
Companies that use Seritage Growth Properties
Customer profileNamed customers8 records
Segments3 records
Ideal customer profiles3 records
Seritage Growth Properties technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Seritage Growth Properties partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor.
- Dallas Mavericks (Arena Development Intermediate, LLC)minorDallas Mavericks entered into option agreement to purchase Seritage's Valley View property for $50.76 million with up to $4.5 million in additional option payments. Deal closing could occur as late as January 2028, with Mavericks planning to complete a new arena by 2031.
- Heartland LLCminorReal estate advisor marketing former Sears site at Overlake Plaza in Redmond, Washington for sale. 14-acre property with 6.9 net developable acres and approved mixed-use development plan.
Scale indicators6 records
Recent moves9 records
Expansion highlights4 records
Seritage Growth Properties competitors and assessment
Company assessmentMarket position
Strengths3 records
Competitive moat2 records
Key risks5 records
Key highlights5 records
Customer concentration
Seritage Growth Properties social profiles
Digital presenceSeritage Growth Properties financial estimates
Financial estimateRevenue estimate
Valuation estimate
Seritage Growth Properties leadership team
Management profileNumber of profiles
Profiles3 records
Seritage Growth Properties funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Seritage Growth Properties M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Seritage Growth Properties
What does Seritage Growth Properties do?
Seritage Growth Properties owns, operates, develops, leases, and sells retail, residential, and mixed-use real estate properties. The company generates revenue by leasing anchor retail space to department stores and entertainment operators, redeveloping select parcels into mixed-use or residential projects, and monetizing assets through a shareholder-approved Plan of Sale. Operations are conducted through consolidated subsidiaries and unconsolidated joint venture entities across six U.S. states.
Is Seritage Growth Properties a public or private company?
Seritage Growth Properties is a public company. It is classified as public and is currently operating.
When was Seritage Growth Properties founded?
Seritage Growth Properties was founded in 2015. It employs 1 to 10 people.
Where is Seritage Growth Properties based?
Seritage Growth Properties is headquartered in New York, United States, in the North America region.
How does Seritage Growth Properties make money?
Three revenue lines are on record. Rental income is the primary driver. The others are management and other fee income and asset sales and dispositions.
Does Seritage Growth Properties have an API?
No public API is recorded for Seritage Growth Properties.
What industry is Seritage Growth Properties in?
Seritage Growth Properties's product category is Retail and Mixed-Use Real Estate. Its primary akta.pro industry code is BPAJAMAK, Real Estate Investment Management (Acquisitions & Dispositions), with a secondary code of BPAJABAL, Capital Markets Advisory (Equity Placement, JV & Recapitalization). Its NAICS code is 53131 and its SIC code is 6798.