Seritage Growth Properties prepays $40M on term loan; $200M remains outstanding

Seritage Growth Properties

Voluntary prepayment of $40M under $1.6B term loan with Berkshire Hathaway Life Insurance Company of Nebraska.
Since Dec 2021, Seritage has repaid $1.4B total; $200M now remains outstanding.
This prepayment reduces annual interest expense by ~$2.8M; cumulative reduction since Dec 2021 is ~$99.4M.
Term loan agreement originally dated July 31, 2018, with multiple amendments through November 2024.

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