- Seritage Growth Properties (NYSE:SRG) will be the owner of 235 properties and 31 JV interests purchased from Sears Holdings (SHLD) - the closing of which is expected tomorrow. The properties will be mostly leased back to Sears and Kmart.
- According to a report from Credit Suisse, the Seritage portfolio is better-than-expected, with 80% of rents from SHLD paying an average $4.16 per square foot, and 20% from 3rd party retailers paying an average $13.37.