Jul 10

This Isn’t Your Dad’s Retail Land Ownership

This Isn’t Your Dad’s Retail Land Ownership

This Isn't Your Dad's Retail Land Ownership. Image courtesy of stockimages / FreeDigitalPhotos.net

This Isn’t Your Dad’s Retail Land Ownership. Image courtesy of stockimages / FreeDigitalPhotos.net

Buying real estate is perhaps the most common way for average people to build wealth, but if they’d like to try to take that another step, one of America’s oldest department chains is ripe for real estate investment.

Seritage Growth Properties, the real estate investment trust spun off from Sears, has gone public, selling shares to any interested investor. This lets Joe and Jane Public become one of the landlords of Sears and Kmart stores, in a sense.

The REIT has two goals, according to Consumer Reports’ Consumerist blog: “raise some cash to help the retailer, which is still losing money as well as losing Kardashians, and perhaps attract some investors who don’t see the value in Sears, but do see the value in the company’s real estate.”

The offering has raised $1.6 billion, according to the Wall Street Journal. According to the Journal, Sears CEO Eddie Lampert expects the bankroll to help the company become a more modern retailer as it slims down its business. The company also expects to sell some of its real estate and close some stores.

Source: “Sears-Affiliated Real Estate Investment Trust Raises $1.6 Billion,” Consumerist.com (July 7, 2015)

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