“How do you make money? Spin-offs, split-ups, liquidations, mergers and acquisitions.” – Mario Gabelli
As the name attempts to imply, Seritage Growth Properties (NYSE: SRG) is a Maryland incorporated, self-administered and managed real estate investment trust (REIT) which only recently (July 2015) spun-off from its long-time parent – Sears Holdings Corp. (NASDAQ: SHLD). Something which could not come soon enough as the public offering raised slightly over $1.6 billion for the cash-strapped big box retailer, somewhat easing its liquidity constraints at least for the time being.
As contributed to Seeking Alpha