Seritage Growth Properties (SRG) Form 10-Q — Aug 14, 2026
Seritage Growth Properties (SRG) reported Q2 2026 revenue of $1.9 million, down from $4.7 million a year earlier as asset sales shrink the portfolio, with a quarterly net loss of $6.1 million ($0.13 per share) versus a $28.5 million loss in Q2 2025. Management concluded that substantial doubt about the company's ability to continue as a going concern is alleviated as of June 30, 2026, reversing the doubt disclosed in the two prior reporting periods.
Key figures
- Revenue
- 1874000
- Debt Amount
- $15.0M term loan (Real Estate Loan) plus $25.0M revolver with b1Bank; $15.0M drawn on revolver at closing
- Cash Position
- 48426000
- Interest Rate
- Real Estate Loan: 1-month SOFR + 2.75% (steps down to SOFR + 2.25% if balance <= $10.0M); Revolver: money market rate on cash collateral + 2.0% (currently 3.5%)
- Maturity Date
- July 24, 2028 (one-year extension option on both facilities)
- Lampert ownership
- 23.8% of Class A common shares
- Properties remaining
- 9
- Tenant concentration
- Two tenants at 45.1% and 33.3% of annualized base rent; 87.2% of rental income from Pennsylvania
- Total equity at q2 end
- 292217000
- Revenue six months 2025
- 9252000
- Revenue six months 2026
- 3924000
- Restricted cash at q2 end
- 14435000
- Class a shares outstanding
- 56324607
- Otti unconsolidated h1 2026
- 5200000
- Post quarter jv distribution
- 8900000
- Investing cash inflow h1 2026
- 12004000
- Impairment real estate h1 2026
- 15200000
- Q2 property sale gross proceeds
- 11000000
- Term loan outstanding at q2 end
- 50000000
- Dallas psa anticipated gross proceeds
- 50800000
- Term loan repaid subsequent to period
- 50000000
- Post quarter property sale gross proceeds
- 3000000
Price after filing
1 day: 0.0%7 days: -6.2%30 days: -15.4%
Close on the filing date to close N calendar days later (from $2.27). Historical, not a forecast.
AI analysis
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