Seritage Growth Properties pays down $100 million under term loan

By Wendy Van Sickle

Columbus, Ohio, Aug. 8 – Seritage Growth Properties repaid $100 million in borrowings outstanding 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, $1.34 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 $7 million.

The real estate investment trust of retail, residential and mixed-use properties is based in New York.

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