---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-042513"
form_type: "8-K"
ticker: "SRG"
cik: "0001628063"
company_name: "Seritage Growth Properties"
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T11:23:09.926384+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Seritage Q2 net loss $96.9M, $1.73/shr; $101.5M impairment on Aventura development

## Summary
- Net loss of $96.9M ($1.73/share) vs. $112M loss in prior year; Total NOI $3.0M vs $10.6M.
- Recognized $101.5M impairment on Aventura, FL development property due to rising costs and market conditions.
- Sold 24 properties in Q2 for $295.4M gross proceeds; subsequent sales $68.4M; 9 assets under contract for $133.3M.
- Made $250M term loan principal repayment in Q2 and $70M after quarter end; balance reduced to $480M; annual interest saving $4.9M.
- D&O insurance settlements yielded $7.8M in Q2; no common dividend until term loan repaid; plan of sale ongoing.

## SEC filing metadata
- accession: 0000950170-23-042513
- form_type: 8-K
- ticker: SRG
- cik: 0001628063
- company_name: Seritage Growth Properties
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1628063/000095017023042513/0000950170-23-042513-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1628063/000095017023042513/srg-20230814.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-042513
- JSON: https://secwatch.observer/filing/0000950170-23-042513.json
- Plain text: https://secwatch.observer/filing/0000950170-23-042513.txt

## Key facts
- Earnings Releases
  Seritage Growth Properties reported the three and six months ended June 30, 2023 results: net income Net loss attributable to common shareholders of ($96.9) million, or ($1.73) per share., EPS ($1.73) per share.
  - Period: the three and six months ended June 30, 2023
  - Net income: Net loss attributable to common shareholders of ($96.9) million, or ($1.73) per share.
  - EPS: ($1.73) per share
  - Result: reported results
  source text: On August 14, 2023, the Company issued a press release regarding its financial results for the three and six months ended June 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1628063/000095017023042513/0000950170-23-042513-index.htm

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