Seritage Growth Properties: Limited Recent Asset Sale Progress (Rating Downgrade)

Seritage closed on three asset sales in Q4 2025 for $170 million in combined gross proceeds. Those assets were under contract with no due diligence contingencies. It had mentioned potential gross proceeds of $118 million from additional negotiations and contracts (with subjects). Currently it only has assets under contract (including Q1 2026 sales) for $17 million in gross proceeds though.