Seritage Growth Properties, a national owner and developer of retail, residential and mixed-use properties, made a voluntary prepayment of $30 million toward its $1.6 billion term loan facility provided by Berkshire Hathaway Life Insurance Company of Nebraska.
With the prepayment, $1.03 billion of the term loan facility remains outstanding. The prepayment will also reduce Seritage’s total annual interest expense related to the term loan facility by approximately $2.1 million.
