Seritage Growth prepays $200 million of Berkshire Hathaway term loan

By Marisa Wong

Los Angeles, May 30 – Seritage Growth Properties announced it made a voluntary prepayment of $200 million toward its $1.6 billion term loan facility provided by Berkshire Hathaway Life Insurance Co. of Nebraska.

With the prepayment, the company has now repaid a total of $1 billion since December 2021, and $600 million of the term loan facility remains outstanding, according to a press release.

The current prepayment will reduce Seritage’s total annual interest expense related to the term loan facility by about $14 million. The cumulative repayments since December 2021 have reduced Seritage’s total annual interest expense by roughly $70 million.

Seritage is a New York-based owner and developer of retail, residential and mixed-use properties.

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