Seritage Growth Properties · NYSE:SRG
Seritage Growth Properties — Corporate Update (August 2020)
11 slides from Seritage Growth Properties's corporate update, August 2020
Slide 1: Corporate Profile and COVID-19 Business Update August 2020
CORPORATE PROFILE AND COVID-19 BUSINESS UPDATE August 2020
Slide 2: Company Overview
MISSION PORTFOLIO Create and own revitalized shopping, dining, entertainment 199 PROPERTIES and mixed-use destinations that provide enriched 31.6M SQUARE FEET experiences for consumers and local communities, and that 2,600 ACRES generate long-term value for our shareholders 44 STATES INVESTMENT HIGH
Slide 3: Highly Desirable Real Estate
H IGH LY D ES IR A B L E R EA L ESTAT E Diverse portfolio with concentrations in high growth markets | Diverse real estate: 111 properties attached to regional malls and 88 freestanding or shopping center properties | Strong demographics: average population density of 653,000 and average household i
Slide 4: COVID-19 Business Update
COVID-19 BUSINESS UPDATE Advancing response with emphasis on people, liquidity and value | First priority remains the health and safety of our team, our families, our communities and our partners | Focused on preserving the medium- and long-term value of our assets and platform, balanced with the ne
Slide 5: Tenant Activity
TENANT ACTIVITY As of August 4, 2020 TENANT OPENINGS RENT COLLECTIONS | 93% of in-place tenants open and/or operating | Q2 2020 – 239 stores fully open and 19 stores open for pick-up or delivery – Collected 66% of rental income – Represents 92% of leased GLA and 86% of annual ABR – Deferred an addit
Slide 6: Capital Sources and Uses
CA PITA L SO URCES A ND USES Near-term cash resources and capital allocation | Asset Monetization – Year to date, sold 13 assets and five outparcels generating $166 million of cash proceeds – Since July 2017, monetized 78 assets and several outparcels generating $860 million of cash proceeds | Capit
Slide 7: Unlocking Value
UNLOCKING VALUE Strategies as we move forward | We believe there will be an immense need to convert well-located real estate for revitalized uses to serve today’s communities | To be a leader in this transformation, we are focused on: – Utilizing the quality and diversity of our asset base to our ad
Slide 8: Culture and Commitment
Culture and Commitment Seritage principles and values | Our core principles will continue to guide how we conduct ourselves and approach the challenges and necessary strategic changes that we may make in the months ahead – Be a diverse and inclusive culture based on respect – Build relationships for
Slide 9: Corporate Responsibility
CORPORATE RESPONSIBILITY Committed to Environmental, Social and Governance practices that serve our shareholders, our team and our communities INTENSIVE REDEVELOPMENT ENHANCED PROPERTY MANAGEMENT • Smart irrigation systems and landscape design • Potential to repurpose and modernize over 30 million s
Slide 10: Forward Looking Statements
Seritage Growth Properties | Forward Looking Statements This document contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar
Slide 11: Seritage Growth Properties contact details
500 Fifth Avenue | New York, NY 10110 212-355-7800 | www.seritage.com
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