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Berkshire Stakes Seritage to $2 Billion Loan Ahead of Sears Store Closings

(COSTAR) - 1 years ago
 Seritage is pursuing the redevelopment of former Sears stores, including a mixed-use project in downtown Santa Monica now known as the Mark 302, in which Invesco Real Estate is a 50-percent joint owner. Seritage Growth Properties has received a $2 billion term loan from Warren Buffett’s Berkshire Hathaway Life Insurance Co. to pay down debt and help redevelop properties, many of which are expected to soon be vacated by Sears Holding Corp. The......
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