SRG - Seritage Growth Properties reduces outstanding debt to $800M

• Seritage Growth Properties ( NYSE: SRG ) said Friday it extended its corporate term loan to July 31, 2025 and reduced outstanding debt to $800M .
• The REIT prepaid $230M towards its term loan, reducing annual interest expense by ~$16.1M and outstanding principal balance to $800M.
• After the $230M paydown, Seritage ( SRG ) had more than $100M of cash in hand as of February 2.
• The REIT generated $232.8M of gross proceeds from the sale of 17 full assets YTD.
• As of February 2, Seritage ( SRG ) had assets under contract for sale for total expected proceeds of $489M.
• The REIT also accepted offers and is currently negotiating purchase and sale deals on assets for total anticipated proceeds of ~$95M.
• The pending and pipeline sales include multi-tenant retail assets, certain premier and mixed-use assets, joint venture interests as well as non-core assets.
• Earlier, Seritage ( SRG ) prepaid $100M of its term loan .

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