Author Topic: SRG - Seritage Growth Properties  (Read 535473 times)

HJ

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Re: SRG - Seritage Growth Properties
« Reply #330 on: June 12, 2017, 07:04:54 AM »
Let me ask a question:  How was the Seritage portfolio initially selected among all of Sears and Kmart locations?  Did Seritage get to cherry pick the better of the properties, or was there an objective criteria that resulted in this particular portfolio?


BTShine

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Re: SRG - Seritage Growth Properties
« Reply #331 on: June 12, 2017, 07:19:43 AM »
So when Sears says it intends to raise an additional $1 billion via RE sales this year (right?), you guys conclude it is likely that SRG will bid on that and if successful fund with a rights issue?

Apparently, SRG's management was asked this at the annual meeting and was quite coy about it.

This year or last?

CorpRaider

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Re: SRG - Seritage Growth Properties
« Reply #332 on: June 12, 2017, 07:44:25 AM »
So when Sears says it intends to raise an additional $1 billion via RE sales this year (right?), you guys conclude it is likely that SRG will bid on that and if successful fund with a rights issue?

Apparently, SRG's management was asked this at the annual meeting and was quite coy about it.

Thanks a lot.  Yeah seemed kind of telegraphed to me, but I don't follow any of it all that closely.  Just had it flagged to check in when (if) I see that announcement. 
« Last Edit: June 12, 2017, 07:46:38 AM by CorpRaider »

DooDiligence

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Re: SRG - Seritage Growth Properties
« Reply #333 on: June 12, 2017, 08:24:24 AM »
Interesting SA story from the POV of a developer turned FinTwit and more

https://seekingalpha.com/amp/article/4080637-thrill-victory-worth-agony-defeat ;D
BRK.B / CLB / DPZ / EQC / EW / FMS / GPC / MO / NVO / PSX / ROP / VDE / VLGEA / WFC

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merkhet

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Re: SRG - Seritage Growth Properties
« Reply #334 on: June 12, 2017, 08:25:11 AM »
So when Sears says it intends to raise an additional $1 billion via RE sales this year (right?), you guys conclude it is likely that SRG will bid on that and if successful fund with a rights issue?

Apparently, SRG's management was asked this at the annual meeting and was quite coy about it.

This year or last?

This year. Note that this is second hand information. I heard it from a friend this year during Berkshire who was in attendance at the SRG meeting.

WneverLOSE

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Re: SRG - Seritage Growth Properties
« Reply #335 on: June 12, 2017, 09:05:23 AM »
Let me ask a question:  How was the Seritage portfolio initially selected among all of Sears and Kmart locations?  Did Seritage get to cherry pick the better of the properties, or was there an objective criteria that resulted in this particular portfolio?
from Bruce Berkowitz annual letter :


LongTermView

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Re: SRG - Seritage Growth Properties
« Reply #336 on: June 12, 2017, 05:58:45 PM »

Spekulatius

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Re: SRG - Seritage Growth Properties
« Reply #337 on: June 13, 2017, 04:14:15 AM »
Interesting SA story from the POV of a developer turned FinTwit and more

https://seekingalpha.com/amp/article/4080637-thrill-victory-worth-agony-defeat ;D

Brad Thomas writes a lot of articles on Reits and most of his analysis is somewhat shallow, imo. He also recommended at some point to swap SRG for WPG  (when WPG was much higher) and then later changed his opinion and put a sell on WPG.

He has a sell on SRG because of Sears exposure.
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DooDiligence

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Re: SRG - Seritage Growth Properties
« Reply #338 on: June 13, 2017, 06:34:13 AM »
Interesting SA story from the POV of a developer turned FinTwit and more

https://seekingalpha.com/amp/article/4080637-thrill-victory-worth-agony-defeat ;D

Brad Thomas writes a lot of articles on Reits and most of his analysis is somewhat shallow, imo. He also recommended at some point to swap SRG for WPG  (when WPG was much higher) and then later changed his opinion and put a sell on WPG.

He has a sell on SRG because of Sears exposure.

Prob so.

I found the discussion re: development & re-development over the decades to be informative (but then, I'm quite uninformed about the supporting real estate.)
BRK.B / CLB / DPZ / EQC / EW / FMS / GPC / MO / NVO / PSX / ROP / VDE / VLGEA / WFC

Investable cash 14.7% + 24 months survival ca$h

---

Hammond B3 + Leslie = swirly choruses & drops.
The Boss RC-505 keeps carpal tunnel at bay,
& opens up a whole new world of improv.
The MOXF is a key beast!

BTShine

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Re: SRG - Seritage Growth Properties
« Reply #339 on: June 13, 2017, 07:51:30 AM »
For those that are actively bearish and those that stay away (or are agnostic to SRG) because of some concerns,  what are your concerns or reasons to be bearish on SRG?