Seritage Growth Properties presented unaudited pro forma condensed consolidated financial information including adjustments for the sale of a property in Aventura, Florida.
The sale proceeds were used for a voluntary prepayment of $130.0 million towards the term loan facility, reducing the outstanding balance to $70.0 million.
The pro forma financial statements reflect the Company's financial position as if the sale had occurred on the respective dates.
Sale of Property
Sale of property in Aventura, Florida resulted in a voluntary prepayment of $130.0 million towards term loan facility.
Financial Position Adjustment
Adjustments made to the financial statements to reflect the impact of property sale on the Company's balance sheet and operations.
- The unaudited pro forma condensed consolidated financial information provides insights into the Company's financial position after the sale of the property.
- The adjustments made in the financial statements help in understanding the changes in the Company's assets, liabilities, and equity post-sale.
The unaudited pro forma condensed consolidated financial information presented by Seritage Growth Properties reflects the impact of the property sale on the Company's financial position. The adjustments made highlight the changes in assets, liabilities, and equity due to the sale.