Seritage Growth Properties Makes $130 Million Loan Prepayment, Reduces Outstanding Debt to $70 Million
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Seritage Growth Properties has made a $130 million prepayment on its $1.6 billion term loan from Berkshire Hathaway, reducing its outstanding debt to $70 million. This move, funded by recent property sales, cuts annual interest expenses by $9.2 million. Since December 2021, Seritage has repaid $1.53 billion, lowering annual interest costs by $108.6 million.
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