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Buffett's Stake in Seritage Spurs Landlord's Shares to Climb

  • Passive holding of 2 million shares disclosed in filing
  • Seritage started trading this year, owns about 250 properties
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Seritage Growth Properties, the real estate investment trust spun off from retailer Sears Holdings Corp., soared 17 percent after billionaire Warren Buffett disclosed an investment in the company.

Buffett reported a passive holding of 2 million shares, representing an 8 percent stake, according to a regulatory filing on Thursday. Seritage began trading this year after Sears created the business to capitalize on its real estate holdings. The REIT owns about 250 properties, which it leases back to Sears to be operated as department stores.