Seritage Growth Properties signs USD 40 million loan facilities with b1Bank

Reuters2026/07/28 21:02

By:Reuters

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Seritage Growth Properties affiliates entered new financing with b1Bank on July 24, 2026: a USD 15 million term loan facility.
Also signed a USD 25 million revolving loan facility; USD 15 million was drawn at closing, leaving USD 10 million undrawn.
Proceeds repaid the remaining USD 50 million balance on its Berkshire Hathaway senior secured term loan, terminating the 2018 facility.
Term loan pricing set at one-month SOFR + 2.75%, stepping down to SOFR + 2.25% if the balance falls to USD 10 million.
Both facilities mature July 24, 2028, with a one-year extension option; revolver is cash-collateralized by USD 25 million of restricted cash.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Seritage Growth Properties published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-321213), on July 28, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Seritage Growth Properties signs USD 40 million loan facilities with b1Bank

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