Seritage Growth Properties-A 2026年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THESECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDEDMARCH 31, 2026 or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934For the transition period from _______to _______Commission File Number 001-37420 SERITAGE GROWTH PROPERTIES (Exact name of registrant as specified in its charter) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) ofthe Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrantwas required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or forsuch shorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer”,“accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the ExchangeAct. Large accelerated filer☐Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ As of May 13, 2026, the registrant had the following common shares outstanding: ClassShares OutstandingClass A common shares of beneficial interest, par value $0.01 pershare56,324,607Class B common shares of beneficial interest, par value $0.01 pershare0Class C common shares of beneficial interest, par value $0.01 pershare0 SERITAGE GROWTH PROPERTIESQUARTERLY REPORT ON FORM 10-Q QUARTER ENDED MARCH 31, 2026 TABLE OF CONTENTS PART I.FINANCIAL INFORMATION PageItem 1.Condensed Consolidated Financial Statements (unaudited)3Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 20253Condensed Consolidated Statements of Operations for the three months ended March 31, 2026and 20254Condensed Consolidated Statements of Equity for the three months ended March 31, 2026 and20255Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2026and 20256Notes to Condensed Consolidated Financial Statements8Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations27Item 3.Quantitative and Qualitative Disclosures About Market Risk33Item 4.Controls and Procedures33PART II.OTHER INFORMATIONItem 1.Legal Proceedings35Item 1A.Risk Factors35Item 2.Unregistered Sales of Equity Securities and Use of Proceeds35Item 3.Defaults upon Senior Securities35Item 4.Mine Safety Disclosures35Item 5.Other Information36Item 6.Exhibits37SIGNATURES38 SERITAGE GROWTH PROPERTIESCONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited, amounts in thousands, except share and per share amounts) The accompanying notes are an integral part of these condensed consolidated financial statements. SERITAGE GROWTH PROPERTIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited, amounts in thousands) SERITAGE GROWTH PROPERTIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)(Unaudited, amounts in thousands) SERITAGE GROWTH PROPERTIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) Note 1 – Organization Seritage Growth Properties (“Seritage”) (NYSE: SRG), was formed as a Maryland real estate investment trust onJune 3, 2015, operated as a fully integrated, self-administered and self-managed real estate investment trust(“REIT”) as defined under Section 856(c) of the Internal Revenue Code (the “Code”) from formation throughDecember 31, 2021. On March 31, 2022, Seritage revoked its REIT election and became a taxable C Corporationeffective January 1, 2022. Seritage’s assets are held by and its operations are primarily conducted, directly orindirectly, through Seritage Growth Properties, L.P., a Delaware limited partnership (the “Operating Partnership”).Under the partnership agreement of the Operating Partnership, Seritage, as the sole general partner, has exclusiveresponsibility and discretion in the management and control of the Operating Partnership. Unless otherwiseexpressly stated or the context otherwise requires, the “Company” and “Seritage” refer to Seritage, the OperatingPartnership and its owned and controlled subsidiaries. Prior to the adoption of the Company’s Plan of Sale (defined below), Seritage was