secwatch.observer — SEC 8-K summary
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Issuer:     Seritage Growth Properties (SRG)
CIK:        0001628063
Form:       8-K
Filed at:   2023-05-10T23:59:59+00:00
Accession:  0000950170-23-020066
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1628063/000095017023020066/0000950170-23-020066-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1628063/000095017023020066/srg-20230510.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-020066

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