Sears Moves to Raise $2.5 Billion By Selling Real Estate
Emira to recycle capital with a trio of strategic property disposals
1st April 2015
Emira is set to become a Corporate REIT
9th April 2015
Sears Moves to Raise $2.5 Billion
Sears is taking steps to shore up its financials by selling 254 of its properties for $2.5 billion to Seritage Growth Properties, a REIT that it has established. It will then lease back the stores. In a separate move, Sears will contribute 12 stores to a joint venture with General Growth Properties.
