Seritage Growth Properties SRG

SRG Company Overview

Seritage Growth Properties (NYSE: SRG) is a publicly traded real estate investment trust (REIT) focused on the ownership, development, redevelopment, management, sale, and leasing of retail, residential, mixed-use, and other commercial properties in the United States. The company was created in 2015 through a spinoff transaction involving properties formerly occupied or controlled by Sears Holdings, and its portfolio initially consisted largely of retail real estate leased to Sears and Kmart stores. Since then, Seritage has shifted its strategy toward unlocking value through redevelopment, asset sales, and repositioning properties for higher-value uses across multiple property categories.

The company’s principal revenue sources have historically included rental income, leasing arrangements, redevelopment-related property monetization, and gains from asset sales. Seritage has operated primarily as an asset management and redevelopment platform rather than a traditional stabilized retail REIT, with a strategic emphasis on transforming underutilized retail sites into mixed-use, multifamily, entertainment, office, industrial, and experiential properties. Its positioning has been shaped by the geographic quality of many legacy sites, including locations in dense metropolitan and affluent suburban markets with redevelopment potential.