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Benjamin Schall

Seritage Expected to Approach $1 Billion in New Development by Year-End

Only 60 percent of the REIT's income currently comes from Sears Corp. By the end of the year, the figure should fall to below 50 percent.

Benjamin Schall, president and CEO of Seritage Growth Properties joined REIT.com for a CEO Spotlight video interview at REITWeek 2017: NAREIT’s Investor Forum at the New York Hilton Midtown.

Seritage is the real estate spinoff of Sears Holding Corp. It began trading as a public company in 2015.

Schall noted that two years ago, 80 percent of Seritage’s income came from Sears. Today, that level has fallen to 60 percent. Later this year, it should be below 50 percent, according to Schall.

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