v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUE        
Rental income $ 1,760,000 $ 4,526,000 $ 3,669,000 $ 8,983,000
Management and other fee income $ 114,000 $ 127,000 $ 255,000 $ 269,000
Type of Revenue [Extensible List] Management and Other Fee Income [Member] Management and Other Fee Income [Member] Management and Other Fee Income [Member] Management and Other Fee Income [Member]
Total revenue $ 1,874,000 $ 4,653,000 $ 3,924,000 $ 9,252,000
EXPENSES        
Property operating 761,000 3,237,000 2,222,000 6,145,000
Real estate taxes 384,000 692,000 717,000 1,645,000
Depreciation and amortization 390,000 2,040,000 790,000 4,115,000
General and administrative 5,096,000 6,172,000 10,388,000 21,865,000
Total expenses 6,631,000 12,141,000 14,117,000 33,770,000
Gain on sale of real estate 35,000 1,967,000 35,000 8,903,000
Loss on sale of interests in unconsolidated entities 0 (1,417,000) 0 (1,417,000)
Impairment of real estate assets 0 (18,000,000) (15,183,000) (18,000,000)
Equity in income (loss) of unconsolidated entities 508,000 756,000 (6,659,000) (7,172,000)
Interest and other income (expense), net 1,022,000 930,000 1,393,000 1,790,000
Interest expense (2,936,000) (5,139,000) (5,839,000) (10,369,000)
Loss before income taxes (6,128,000) (28,391,000) (36,446,000) (50,783,000)
Benefit (provision) from income taxes 0 (115,000) 0 75,000
Net loss (6,128,000) (28,506,000) (36,446,000) (50,708,000)
Preferred dividends (1,225,000) (1,225,000) (2,450,000) (2,450,000)
Net loss attributable to Seritage common shareholders $ (7,353,000) $ (29,731,000) $ (38,896,000) $ (53,158,000)
Net loss per share attributable to Seritage Class A common shareholders - Basic $ (0.13) $ (0.53) $ (0.69) $ (0.94)
Net loss per share attributable to Seritage Class A common shareholders - Diluted $ (0.13) $ (0.53) $ (0.69) $ (0.94)
Weighted average Class A common shares outstanding - Basic 56,324 56,324 56,324 56,304
Weighted average Class A common shares outstanding - Diluted 56,324 56,324 56,324 56,304