Seritage Growth Properties Reports Q1 2025 Financial Results

Seritage Growth Properties Class A ( (SRG) ) has released its Q1 earnings. Here is a breakdown of the information Seritage Growth Properties Class A presented to its investors.

Seritage Growth Properties, a Maryland-based real estate investment trust, is primarily engaged in the ownership, development, and management of retail and mixed-use properties across the United States. The company, which transitioned from a REIT to a taxable C Corporation in 2022, is currently executing a strategic Plan of Sale to maximize shareholder value.

In its latest earnings report for the quarter ended March 31, 2025, Seritage Growth Properties reported a net loss attributable to common shareholders of $23.4 million, or $0.42 per share, compared to a net loss of $20.2 million, or $0.36 per share, in the same period last year. The company generated total revenue of $4.6 million, a decrease from $5.8 million in the prior year, primarily due to a decline in rental income.

Key financial highlights include a gain of $6.9 million from the sale of real estate, offset by a $7.9 million loss from investments in unconsolidated entities. The company’s expenses increased to $21.6 million, driven by higher general and administrative costs. Despite the losses, Seritage reported positive cash flow from investing activities, with $28.8 million in net proceeds from real estate sales.

Looking ahead, Seritage Growth Properties remains committed to its Plan of Sale, which involves selling its assets to maximize shareholder value. The company is exploring various strategic alternatives, including potential sales of its properties and financing transactions, to address its financial obligations and support ongoing development expenditures. Management is optimistic about the plan’s potential to enhance shareholder returns.