Core Insights - Seritage Growth Properties reported its financial and operating results for Q3 and the first nine months of 2025, highlighting ongoing asset sales and financial challenges [1][4][5]. Financial Highlights - For Q3 2025, the company has four assets under contract with anticipated gross proceeds of $240.8 million, including $170.0 million from three assets with no due diligence contingencies [4]. - The company recognized a net loss attributable to common shareholders of $13.6 million, or $0.24 per share, for Q3 2025, compared to a net loss of $23.2 million, or $0.41 per share, in Q3 2024 [8][14]. - The company had cash on hand of $59.9 million as of September 30, 2025, which increased to $65.0 million by November 13, 2025 [4][15]. Asset Sales and Future Projections - The company expects to close on three assets under contract soon, which would allow for a significant prepayment of its Term Loan Facility [2]. - As of November 13, 2025, the estimated gross sales proceeds for remaining assets not under contract or in negotiations is projected to be between $220 million and $310 million [6][5]. Portfolio Overview - As of September 30, 2025, the company’s portfolio included interests in 13 properties, totaling approximately 1.3 million square feet of gross leasable area [30]. - The company reported a total occupancy rate of 92% for its Multi-Tenant retail properties, with 391 thousand square feet leased [10]. Strategic Review and Market Conditions - The company is executing its Plan of Sale, which was approved by shareholders in 2022, and remains open to exploring value-maximizing alternatives, including a potential sale of the company [20]. - The company faces challenging market conditions, including elevated interest rates and difficulties in raising equity capital for land development, which may impact asset pricing and sales [21][22].