Hedge fund billionaire Edward Lampert stepped down as chair of Seritage Growth Properties as the real estate investment trust that emerged from the Sears bankruptcy reviews strategic alternatives.
New York-based Seritage, the owner of 170 residential, retail and mixed-use properties in the U.S., has hired Barclays Plc as its financial adviser, according to a statement Tuesday. The REIT is in the early stages of its strategic review and said it wouldn’t comment further on the process.
