One way that Sears Holdings has been raising cash recently has been to take advantage of its vast portfolio of retail real estate, selling store buildings to an affiliated real estate investment trust and using the proceeds to keep the rest of the company going. That’s how the chain even posted a profit last year for the first time since 2012. Now its new landlord, the trust, is asking Sears to shrink down its living space and take on some roommates. [More]
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Sears-Affiliated Real Estate Investment Trust Raises $1.6 Billion
By 7.7.15
If you’ve always secretly wanted to be the partial landlord of a Sears or Kmart store, you have some unusual and specific life goals. You can also achieve your goal as of this week. The real estate investment trust spun off from Sears Holdings, Seritage Growth Properties, is now selling shares to the public, and the offering has been successful so far, raising more than $1.6 billion. [More]
