Seritage Growth Properties makes $40 million loan prepayment, reduces annual interest expense.

Seritage Growth Properties has made a voluntary prepayment of $20 million towards its $1.6 billion term loan facility with Berkshire Hathaway Life Insurance Company of Nebraska. This brings the total repaid to $1.55 billion since December 2021, with $50 million remaining. The prepayment reduces Seritage's total annual interest expense by approximately $1.4 million.