Seritage Growth Properties Reports First Quarter 2019 Operating Results
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Seritage Growth Properties (SRG) Reports Q1 Loss of $0.23
May 2, 2019 4:39 PM EDTSeritage Growth Properties (NYSE: SRG) reported Q1 EPS of ($0.23), versus $0.26 reported last year.
Operating Highlights
During the quarter ended March 31, 2019:
Signed new leases totaling 440,000 square feet (365,000 square feet at share) at an average base rent of $30.37 PSF ($30.06 PSF at share). Since the Companys inception in July 2015, the Companys share of new leasing activity has totaled nearly 8.3 million square feet at an average rent of $17.23 PSF, including new retail leases totaling 7.5 million square feet at an average rent of $18.24 PSF.Achieved an average releasing multiple of 4.1x for... More