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Seritage Growth Properties pays down $70 million under term loan
By Mary-Katherine Stinson
Lexington, Ky., Oct. 3 – Seritage Growth Properties repaid $70 million more in borrowings under its $1.6 billion senior secured term loan facility provided by Berkshire Hathaway Life Insurance Co. of Nebraska, according to a news release.
With the prepayment, $1.27 billion of the term loan facility remains outstanding. The prepayment will reduce Seritage’s total annual interest expense related to the term loan by about $4.9 million.
The real estate investment trust of retail, residential and mixed-use properties is based in New York.
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