Berkshire Hathaway Life Insurance Company of Nebraska Completes $2 Billion Financing for Seritage Growth Properties
08.07.18
This is only gets display when printing
Simpson Thacher represented Berkshire Hathaway Life Insurance Company of Nebraska in providing a $2 billion senior secured term loan facility (the “Term Loan Facility”) to a subsidiary of Seritage Growth Properties, a publicly traded, self-administered and self-managed REIT (NYSE: SRG) with 225 wholly owned properties and 24 joint venture properties totaling over 39 million square feet of gross leasable area. The Term Loan Facility provides for an initial funding of $1.6 billion at closing and a committed $400 million incremental funding facility.
The Simpson Thacher team for the transaction included Patrick Ryan, Dan Kay, Tim Coxon, Harini Mekala and David Acquay (Credit); Greg Ressa (Real Estate); Jasmine Hay (Tax); Janet Nadile and Jonathan Pall (UCC); and Monisha Bhayana (Executive Compensation and Employee Benefits).