Jump to content

Buffett reports 8.02 percent stake in Sears' REIT Seritage Growth Read more at R


Recommended Posts

  • 1 year later...
Berkshire Hathaway’s 2013 annual letter offers clues as to what Buffett sees in Seritage. In the letter, Buffett discusses two real estate investments he made with his own funds in the 1980s and ’90s. One was a building in lower Manhattan near New York University in which he invested with partners in 1993, during a commercial real estate downturn. That building’s largest tenant occupied 20% of the space and was paying $5 per square foot. The other tenants were paying $70 per square foot.


“The expiration of this bargain lease in nine years was certain to provide a major boost to earnings,” Buffett wrote. In time, as the old lease expired, earnings tripled.



Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...