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Section 1: 8-K


 
 


 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 
FORM 8-K
 
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 28, 2017
 

 
SERITAGE GROWTH PROPERTIES
(Exact name of registrant as specified in its charter)
 

 
 
 
     
001-37420
Maryland
38-3976287
(Commission File Number)
(State or other jurisdiction of incorporation)
(I.R.S. Employer Identification No.)
489 Fifth Avenue, 18th Floor
New York, NY 10017
(Address of Principal Executive Offices, including Zip Code)

Registrant’s Telephone Number, Including Area Code: (212) 355-7800
 


 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13-4(c))
 

 


 
Item 8.01.  Other Events.
On February 28, 2017, Seritage Growth Properties (the “Company”) announced that its Board of Trustees declared a quarterly dividend for the first quarter of 2017 of $0.25 for each Class A common share and Class C non-voting common share, payable in cash on April 13, 2017 to shareholders of record on March 31, 2017.
 
A copy of the press release issued by the Company on February 28, 2017 is filed herewith as Exhibit 99.1 and is incorporated in this Item 8.01 by reference.
 
 Item 9.01.  Financial Statements and Exhibits.
 
(d) Exhibits
 
 
Exhibit No.
Description
99.1
Press release of Seritage Growth Properties, dated February 28, 2017.
 
 


 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
SERITAGE GROWTH PROPERTIES
   
Date: February 28, 2017
 
   
 
/s/ Matthew Fernand
 
By:    
Matthew Fernand
   
Executive Vice President, General Counsel and Secretary
     
 
 

 
EXHIBIT INDEX
 
Exhibit No.
Description
99.1
Press release of Seritage Growth Properties, dated February 28, 2017.
 

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Section 2: EX-99.1


 

Exhibit 99.1

 

 
 
Seritage Growth Properties Announces First Quarter 2017 Dividend

New York, NY – February 28, 2017 – Seritage Growth Properties (NYSE: SRG), a national owner of 266 retail properties totaling over 42 million square feet of gross leasable area, announced today that its Board of Trustees has declared a cash dividend of $0.25 per Class A and Class C common share for the first quarter of 2017.  The dividend will be paid on April 13, 2017 to Class A and Class C shareholders of record on March 31, 2017.


About Seritage Growth Properties
Seritage Growth Properties is a publicly-traded, self-administered and self-managed retail REIT with 235 wholly-owned properties and 31 joint venture properties totaling over 42 million square feet across 49 states and Puerto Rico.  Pursuant to a master lease, 203 of the Company’s wholly-owned properties are leased to Sears Holdings and are operated under either the Sears or Kmart brand.  The master lease provides the Company with the right to recapture certain space from Sears Holdings at each property for retenanting or redevelopment purposes.  At several properties, third party tenants under direct leases occupy a portion of leasable space alongside Sears and Kmart, and 20 properties are leased only to third parties.  The Company also owns 50% interests in 31 properties through joint venture investments with General Growth Properties, Simon Property Group and The Macerich Company.  A substantial majority of the space at the Company’s JV properties is also leased to Sears Holdings under master lease agreements that provide for similar recapture rights as the master lease governing the Company’s wholly-owned properties.

Contact
Seritage Growth Properties
646-277-1268
IR@Seritage.com

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