Seritage enters $50.8M option agreement to sell Dallas property to Arena Development

Seritage Growth Properties

Purchase price $50,760,000 for Dallas property; buyer is Arena Development Intermediate, LLC.
Option payment of $169,200 due at signing; monthly payments rise to $274,950 in 2027.
Closing by Jan 31, 2028, conditioned on buyer obtaining entitlements and adjacent property deal.
Option payments are incremental to purchase price and non-refundable except per agreement terms.
No assurance buyer will exercise option; PSA cross-conditioned with related agreement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Seritage Growth Properties entered into PSA with Arena Development Intermediate, LLC valued at $50,760,000 (effective 2026-06-01).

Action: entry
Agreement: asset purchase
Counterparty: Arena Development Intermediate, LLC
Value: $50,760,000
Effective: 2026-06-01

Exact text from the filing

On June 1, 2026 (the “Effective Date”), a subsidiary (the "Seller") of Seritage Growth Properties (the "Company") entered into an option purchase and sale agreement (the “PSA”) with Arena Development Intermediate, LLC, a Delaware limited liability company (the “Buyer”) for the sale of the Seller’s property located in Dallas, Texas (the "Property").

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Source: SEC EDGAR

accession 0001193125-26-251716

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