---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-020066"
form_type: "8-K"
ticker: "SRG"
cik: "0001628063"
company_name: "Seritage Growth Properties"
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T06:29:11.610065+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Seritage Q1 net loss $63.2M (-$1.13/share); Total NOI $3.1M; sold 27 assets for $290.8M

## Summary
- Net loss attributable to common shareholders $63.2M ($1.13 per share) for Q1 2023.
- Total NOI $3.1M vs $10.5M in prior year quarter, reflecting property sales and lower income.
- Sold 27 wholly owned assets for $290.8M gross proceeds in Q1; YTD total $311.9M.
- Term loan balance reduced to $800M after $230M repayment; maturity extended to July 2025.
- Cash on hand $132.1M at March 31; board expects no common dividends until term loan repaid.

## SEC filing metadata
- accession: 0000950170-23-020066
- form_type: 8-K
- ticker: SRG
- cik: 0001628063
- company_name: Seritage Growth Properties
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1628063/000095017023020066/0000950170-23-020066-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1628063/000095017023020066/srg-20230510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-020066
- JSON: https://secwatch.observer/filing/0000950170-23-020066.json
- Plain text: https://secwatch.observer/filing/0000950170-23-020066.txt

## Key facts
- Earnings Releases
  Seritage Growth Properties reported the quarter ended March 31, 2023 results: net income ($63.2) million, EPS ($1.13) per share.
  - Period: the quarter ended March 31, 2023
  - Net income: ($63.2) million
  - EPS: ($1.13) per share
  - Result: reported results
  source text: Financial Highlights: For the quarter ended March 31, 2023: • As of March 31, 2023, the Company had cash on hand of $132.1 million, including $11.6 million of restricted cash. As of May 8, 2023, the Company had cash on hand of $143.5 million, including $11.6 million of restricted cash. • Net loss attributable to common shareholders of ($63.2) million, or ($1.13) per share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1628063/000095017023020066/0000950170-23-020066-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.