Seritage Growth Properties has reported its financial results for the first quarter of 2025. The company generated $29.9 million in gross proceeds from the sale of an income-producing asset, reflecting a capitalization rate of 7.7%. The net loss attributable to Seritage common shareholders was $23.427 million, compared to a net loss of $20.210 million for the same period in 2024. Net operating income (NOI) on a cash basis at share increased to $2.588 million from $2.098 million in the previous year, reflecting the impact of $0.5 million from NOI-cash basis at share related to sold properties. As of March 31, 2025, Seritage reported having cash on hand of $107.1 million, including $12.9 million of restricted cash. The company's strategy remains focused on asset sales to repay remaining debt and create shareholder value, under the leadership of interim CEO and President Adam Metz.