![]() Since listing back in July 2015, the company attempted to unlock value by redeveloping many of its properties while at the same time renegotiating its leases with Sears, which were ridiculously low at between $17 and $18 per square foot. On its debut, the company traded at $36.02 per share. in 2015 when it purchased 235 properties and 31 joint-venture interests from Sears for $2.72 billion. The company was spun-off from Sears Holding Corp. ![]() Seritage Growth Properties is an ex- Real Estate Investment Trust (REIT) with 150 properties in its portfolio (as of June 2022). The downside risk, in my view, is low while the upside potential is significantly more than 100%. The base-case scenario is a 100% return over the next three years (equates to a 25% annualized return) as the company looks to liquidate its assets, pay off its debt obligations, and return the remaining proceeds to shareholders. Seritage Growth Properties ( NYSE: SRG) is an attractive event-driven investment opportunity. Thomas De Wever/iStock Editorial via Getty Images Active contributors also get free access to SA Premium. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Editor's note: Seeking Alpha is proud to welcome Paul Farah as a new contributor.
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