Seritage Reduces Debt with $25 Million Prepayment

An announcement from Seritage ( (SRG) ) is now available.

Seritage Growth Properties has made a significant $25 million prepayment on its $1.6 billion term loan with Berkshire Hathaway, reducing the outstanding balance to $255 million. This move is set to cut the company’s annual interest expenses by $1.75 million, showcasing Seritage’s commitment to financial efficiency. Since December 2021, the company has repaid a total of $1.345 billion, significantly lowering its borrowing costs and reflecting a strategic focus on strengthening its financial position.

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