Seritage Growth Properties (SRG) 10-K/A 2015 FY Annual report (amended)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

(Amendment No. 1)

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2015

Commission file number 001-37420

SERITAGE GROWTH PROPERTIES

(Exact name of registrant as specified in its charter)

Maryland	38-3976287
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)
489 Fifth Avenue, 18th Floor, New York, New York	10017
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (212) 355-7800

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Name of each exchange on which registered
Class A common shares of beneficial interest, par value $0.01 per share	New York Stock Exchange

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes  ¨    No  x

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.    Yes  ¨    No  x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§232.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act (Check one):

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	x  (Do not check if a smaller reporting company)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).    Yes  ¨    No  x

The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant as of July 6, 2015 was approximately $1,163,986,000 based upon the closing price of $37.10 of the registrant’s common stock as reported on the New York Stock Exchange. The registrant has elected to use July 6, 2015 as the calculation date, which was the initial trading date of the registrant’s common shares on the New York Stock Exchange, because as of the last business day of the registrant’s second fiscal quarter, the registrant was a privately-held company.

As of March 4, 2016, the registrant had the following commons shares outstanding:

Class	Shares Outstanding
Class A common shares of beneficial interest, par value $0.01 per share		25,261,542
Class B common shares of beneficial interest, par value $0.01 per share		1,589,020
Class C common shares of beneficial interest, par value $0.01 per share		6,329,485

DOCUMENTS INCORPORATED BY REFERENCE

Portions of Seritage Growth Properties’ Proxy Statement for its 2016 Annual Meeting of Shareholders are incorporated by reference into Part III of this Annual Report on Form 10-K.

EXPLANATORY NOTE

Seritage Growth Properties. (the “Company”) is filing this Amendment No. 1 (“Amendment No. 1”) to its Annual Report onForm 10-K for the period from July 7, 2015 (Date Operations Commenced) through December 31, 2015, which was originally filed with the Securities and Exchange Commission on March 11, 2016 (the “Original Annual Report”), for the sole purpose of correcting typographical errors including the unintentional omission of rows 98-99 and 131-136 in the table of properties set forth in Item 2.

Pursuant to Rule 12b-15 under Securities Exchange Act of 1934, as amended, this Amendment No. 1 on Form 10-K also contains new Rule 13a-14(a)/15d-14(a) Certifications, which are attached hereto. Because no financial statements have been amended by or included in this Amendment No. 1 on Form 10-K and this Amendment No. 1 on Form 10-K does not contain or amend any disclosure with respect to Items 307 and 308 of Regulation S-K, paragraphs 3, 4 and 5 of the certifications have been omitted.

This Amendment No. 1 on Form 10-K continues to speak as of the date of the filing of the Original Annual Report, and the Company has not changed the financial statements nor updated the disclosures contained therein to reflect any events that may have occurred at a later date.

ITEM 2. PROPERTIES

As of December 31, 2015, our portfolio included 235 Wholly Owned Properties totaling over 37.0 million square feet of GLA across 49 states and Puerto Rico, and 50% interests in 31 JV Properties totaling over 5.4 million square feet of GLA across 17 states. The following tables set forth certain information regarding our Wholly Owned Properties and JV Properties based on signed leases as of December 31, 2015, including signed but not yet open leases (“SNO leases”):

Wholly Owned Properties
						GLA (3)
	City	State	Recapture Rights (1)(2)			Total		Sears Holdings		Third Parties		Vacant		Sears or Kmart	Significant Third-party Tenants (3)	% Leased
1	Anchorage	AK		100	%		257,900		204,100		42,900		10,900	Sears	Lands’ End, Nordstrom Rack		95.8	%
2	Cullman	AL		50	%		98,500		98,500		0		0	Kmart	n/a		100.0	%
3	North Little Rock	AR		50	%		185,700		185,700		0		0	Sears	n/a		100.0	%
4	Russellville	AR		50	%		88,000		88,000		0		0	Kmart	n/a		100.0	%
5	Flagstaff	AZ		50	%		66,200		66,200		0		0	Sears	n/a		100.0	%
6	Mesa	AZ		50	%		121,900		121,900		0		0	Sears	n/a		100.0	%
7	Peoria	AZ		n/a			104,400		0		104,400		0	n/a	At Home		100.0	%
8	Phoenix	AZ		50	%		144,200		144,200		0		0	Sears	n/a		100.0	%
9	Phoenix	AZ		n/a			151,200		0		151,200		0	n/a	At Home		100.0	%
10	Prescott	AZ		50	%		102,300		102,300		0		0	Sears	n/a		100.0	%
11	Sierra Vista	AZ		50	%		94,700		94,700		0		0	Sears	n/a		100.0	%
12	Sierra Vista	AZ		50	%		86,100		86,100		0		0	Kmart	n/a		100.0	%
13	Tucson	AZ		50	%		250,100		250,100		0		0	Sears	n/a		100.0	%
14	Yuma	AZ		50	%		90,400		90,400		0		0	Sears	n/a		100.0	%
15	Antioch	CA		50	%		95,200		95,200		0		0	Kmart	n/a		100.0	%
16	Big Bear Lake	CA		50	%		80,000		69,300		7,900		2,800	Kmart	Radio Shack, Subway, Wells Fargo Bank		96.5	%
17	Carson	CA		50	%		181,200		163,400		17,800		0	Sears	Applebee’s, Chick-Fil-A, Chipotle Mexican Grill, Jersey Mike’s, Smash Burger		100.0	%
18	Chula Vista	CA		50	%		250,100		250,100		0		0	Sears	n/a		100.0	%
19	Citrus Heights	CA		50	%		289,500		280,700		8,800		0	Sears	Lands’ End		100.0	%
20	Delano	CA		50	%		86,100		86,100		0		0	Kmart	n/a		100.0	%
21	El Cajon	CA		50	%		286,500		275,700		10,800		0	Sears	Lands’ End, Wireless Choice		100.0	%
22	El Centro	CA		50	%		139,700		139,700		0		0	Sears	n/a		100.0	%
23	Fairfield	CA		50	%		164,100		159,300		4,800		0	Sears	Lands’ End		100.0	%
24	Florin	CA		50	%		272,700		272,700		0		0	Sears	n/a		100.0	%
25	Fresno	CA		50	%		217,600		217,600		0		0	Sears	n/a		100.0	%
26	McKinleyville	CA		50	%		94,800		94,800		0		0	Kmart	n/a		100.0	%
27	Merced	CA		50	%		92,600		92,600		0		0	Sears	n/a		100.0	%
28	Montclair	CA		50	%		174,700		174,700		0		0	Sears	n/a		100.0	%
29	Moreno Valley	CA		50	%		169,400		169,400		0		0	Sears	n/a		100.0	%
30	Newark	CA		50	%		145,800		145,800		0		0	Sears	n/a		100.0	%

Wholly Owned Properties
						GLA (3)
	City	State	Recapture Rights (1)(2)			Total		Sears Holdings		Third Parties		Vacant		Sears or Kmart	Significant Third-party Tenants (3)	% Leased
31	North Hollywood	CA		50	%		151,000		151,000		0		0	Sears	n/a		100.0	%
32	Northridge	CA		50	%		291,800		256,900		34,900		0	Sears	Ashley Furniture		100.0	%
33	Palm Desert	CA		50	%		151,500		151,500		0		0	Sears	n/a		100.0	%
34	Ramona	CA		50	%		107,500		87,000		14,700		5,800	Kmart	Dollar Tree, Little Caesar’s		94.6	%
35	Riverside	CA		50	%		214,200		202,000		12,200		0	Sears	Bank of America		100.0	%
36	Riverside	CA		50	%		132,600		94,500		38,100		0	Kmart	Jack in the Box		100.0	%
37	Roseville	CA		50	%		139,000		131,400		7,600		0	Sears	Lands’ End		100.0	%
38	Salinas	CA		50	%		133,000		133,000		0		0	Sears	n/a		100.0	%
39	San Bernardino	CA		100	%		264,700		264,700		0		0	Sears	n/a		100.0	%
40	San Bruno	CA		50	%		276,600		267,900		8,700		0	Sears	Lands’ End		100.0	%
41	San Diego	CA		50	%		194,800		164,800		30,000		0	Sears	Lands’ End, Williams-Sonoma		100.0	%
42	San Jose	CA		50	%		262,500		262,500		0		0	Sears	n/a		100.0	%
43	Santa Cruz	CA		50	%		119,600		105,800		13,800		0	Sears	Lands’ End		100.0	%
44	Santa Maria	CA		50	%		108,600		108,600		0		0	Sears	n/a		100.0	%
45	Santa Monica	CA		100	%		117,800		112,000		5,800		0	Sears	Lands’ End		100.0	%
46	Santa Paula	CA		50	%		71,300		71,300		0		0	Kmart	n/a		100.0	%
47	Temecula	CA		50	%		115,600		115,600		0		0	Sears	n/a		100.0	%
48	Thousand Oaks	CA		50	%		164,000		50,300		113,700		0	Sears	DSW, Nordstrom Rack, The Sports Authority		100.0	%
49	Ventura	CA		50	%		178,600		171,900		6,700		0	Sears	Lands’ End		100.0	%
50	Visalia	CA		50	%		75,600		75,600		0		0	Sears	n/a		100.0	%
51	West Covina	CA		50	%		142,000		142,000		0		0	Sears	n/a		100.0	%
52	Westminster	CA		100	%		197,900		197,900		0		0	Sears	n/a		100.0	%
53	Lakewood	CO		50	%		153,000		153,000		0		0	Sears	n/a		100.0	%
54	Thornton	CO		50	%		190,200		190,200		0		0	Kmart	n/a		100.0	%
55	Waterford	CT		50	%		149,300		141,800		7,500		0	Sears	Lands’ End		100.0	%
56	West Hartford	CT		100	%		202,100		186,900		15,200		0	Sears	Lands’ End, Olive Garden		100.0	%
57	Rehoboth Beach	DE		50	%		122,200		117,200		5,000		0	Kmart	Chick-Fil-A		100.0	%
58	Altamonte Springs	FL		50	%		214,300		205,600		8,700		0	Sears	Seasons 52		100.0	%
59	Boca Raton	FL		100	%		178,500		167,600		10,900		0	Sears	Lands’ End, Washington Mutual		100.0	%
60	Bradenton	FL		50	%		99,900		99,900		0		0	Sears	n/a		100.0	%
61	Bradenton	FL		50	%		82,900		82,900		0		0	Kmart	n/a		100.0	%
62	Clearwater	FL		50	%		211,700		129,700		82,000		0	Sears	Lands’ End, Nordstrom Rack, Whole Foods		100.0	%
63	Doral	FL		50	%		212,900		212,900		0		0	Sears	n/a		100.0	%
64	Ft. Myers	FL		50	%		146,800		146,800		0		0	Sears	n/a		100.0	%
65	Gainesville	FL		50	%		140,500		140,500		0		0	Sears	n/a		100.0	%
66	Hialeah	FL		50	%		197,400		184,400		13,000		0	Sears	Forever 21, Goodwill		100.0	%

Wholly Owned Properties
						GLA (3)
	City	State	Recapture Rights (1)(2)			Total		Sears Holdings		Third Parties		Vacant		Sears or Kmart	Significant Third-party Tenants (3)	% Leased
67	Hialeah	FL		50	%		106,400		88,400		18,000		0	Kmart	Aldi		100.0	%
68	Kissimmee	FL		50	%		148,900		112,500		36,400		0	Kmart	Big Lots		100.0	%
69	Lakeland	FL		50	%		156,200		156,200		0		0	Sears	n/a		100.0	%
70	Melbourne	FL		50	%		102,600		102,600		0		0	Sears	n/a		100.0	%
71	Miami	FL		100	%		173,300		173,300		0		0	Sears	n/a		100.0	%
72	Miami	FL		100	%		170,100		170,100		0		0	Sears	n/a		100.0	%
73	Naples	FL		50	%		161,900		151,800		10,100		0	Sears	n/a		100.0	%
74	North Miami	FL		100	%		122,200		106,300		15,900		0	Kmart	Aldi		100.0	%
75	Ocala	FL		50	%		146,200		146,200		0		0	Sears	n/a		100.0	%
76	Orange Park	FL		n/a			87,400		0		87,400		0	n/a	Old Time Pottery, Freddy’s Frozen Custard		100.0	%
77	Orlando	FL		100	%		202,000		197,500		4,500		0	Sears	Lands’ End		100.0	%
78	Panama City	FL		50	%		139,300		139,300		0		0	Sears	n/a		100.0	%
79	Pensacola	FL		50	%		212,300		212,300		0		0	Sears	n/a		100.0	%
80	Plantation	FL		50	%		201,600		201,600		0		0	Sears	n/a		100.0	%
81	Sarasota	FL		50	%		212,500		204,500		8,000		0	Sears	Lands’ End		100.0	%
82	St. Petersburg	FL		50	%		120,600		120,600		0		0	Kmart	n/a		100.0	%
83	St. Petersburg	FL		100	%		193,900		187,000		6,900		0	Sears	n/a		100.0	%
84	Atlanta	GA		50	%		226,300		218,700		7,600		0	Sears	Lands’ End		100.0	%
85	Savannah	GA		100	%		167,300		155,700		11,600		0	Sears	Golden Corral		100.0	%
86	Honolulu (4)	HI		100	%		77,400		34,100		43,300		0	Kmart	Long’s Drugs (CVS), PetSmart		100.0	%
87	Algona	IA		50	%		99,300		99,300		0		0	Kmart	n/a		100.0	%
88	Cedar Rapids	IA		50	%		146,000		141,100		4,900		0	Sears	Lands’ End		100.0	%
89	Charles City	IA		50	%		96,600		96,600		0		0	Kmart	n/a		100.0	%
90	Webster City	IA		50	%		40,800		40,800		0		0	Kmart	n/a		100.0	%
91	Boise	ID		50	%		123,600		123,600		0		0	Sears	n/a		100.0	%
92	Chicago	IL		50	%		356,700		356,700		0		0	Sears	n/a		100.0	%
93	Chicago	IL		50	%		293,700		293,700		0		0	Sears	n/a		100.0	%
94	Chicago	IL		50	%		168,500		118,800		49,700		0	Kmart	China Town Buffet, Chuck E Cheese		100.0	%
95	Homewood	IL		n/a			196,100		0		196,100		0	n/a	Wal-Mart		100.0	%
96	Joliet	IL		50	%		204,600		204,600		0		0	Sears	n/a		100.0	%
97	Lombard	IL		n/a			139,300		0		139,300		0	n/a	The Dump		100.0	%
98	Moline	IL		50	%		123,700		120,500		3,200		0	Kmart	n/a		100.0	%
99	North Riverside	IL		50	%		203,000		203,000		0		0	Sears	n/a		100.0	%
100	Orland Park	IL		50	%		199,600		192,400		7,200		0	Sears	Lands’ End		100.0	%
101	Springfield	IL		50	%		126,900		84,200		42,700		0	Kmart	Casual Male, Popeye’s, Staples		100.0	%
102	Steger	IL		50	%		87,400		87,400		0		0	Kmart	n/a		100.0	%

Wholly Owned Properties
						GLA (3)
	City	State	Recapture Rights (1)(2)			Total		Sears Holdings		Third Parties		Vacant		Sears or Kmart	Significant Third-party Tenants (3)	% Leased
103	Elkhart	IN		50	%		86,500		86,500		0		0	Kmart	n/a		100.0	%
104	Ft. Wayne	IN		50	%		220,000		213,500		6,500		0	Sears	Lands’ End		100.0	%
105	Merrillville	IN		50	%		173,100		108,300		38,900		25,900	Kmart	Dollar Tree, Payless ShoeSource, Sherwin-Williams		85.0	%
106	Leavenworth	KS		50	%		83,600		76,900		6,700		0	Kmart	Sears Hometown		100.0	%
107	Overland Park	KS		50	%		223,200		215,000		8,200		0	Sears	Lands’ End		100.0	%
108	Hopkinsville	KY		50	%		93,000		70,300		4,900		17,800	Kmart	Cato Fashions		80.9	%
109	Owensboro	KY		50	%		68,300		68,300		0		0	Kmart	n/a		100.0	%
110	Paducah	KY		50	%		108,200		108,200		0		0	Sears	n/a		100.0	%
111	Houma	LA		50	%		101,400		96,700		4,700		0	Kmart	Meineke Car Care		100.0	%
112	Lafayette	LA		50	%		194,900		194,900		0		0	Sears	n/a		100.0	%
113	New Iberia	LA		50	%		91,700		91,700		0		0	Kmart	n/a		100.0	%
114	Braintree (4)	MA		100	%		113,500		65,900		47,600		0	Kmart	Nordstrom Rack		100.0	%
115	Saugus	MA		50	%		210,500		204,900		5,600		0	Sears	Lands’ End		100.0	%
116	Bowie	MD		50	%		131,500		131,500		0		0	Sears	n/a		100.0	%
117	Cockeysville	MD		50	%		165,900		149,700		16,200		0	Sears	Lands’ End		100.0	%
118	Edgewater	MD		50	%		117,200		117,200		0		0	Kmart	n/a		100.0	%
119	Hagerstown	MD		50	%		122,700		122,700		0		0	Sears	n/a		100.0	%
120	Madawaska	ME		50	%		49,700		49,700		0		0	Kmart	n/a		100.0	%
121	Alpena	MI		50	%		118,200		118,200		0		0	Kmart	n/a		100.0	%
122	Jackson	MI		50	%		152,700		144,200		8,500		0	Sears	Panera Bread, Pizza Hut		100.0	%
123	Lincoln Park	MI		50	%		301,700		297,900		3,800		0	Sears	Bank of America		100.0	%
124	Manistee	MI		50	%		94,600		87,800		6,800		0	Kmart	Hometown Dealer		100.0	%
125	Roseville	MI		50	%		385,400		367,400		18,000		0	Sears	Lands’ End, Red Robin		100.0	%
126	Sault Ste. Marie	MI		50	%		92,700		92,700		0		0	Kmart	n/a		100.0	%
127	St. Clair Shores	MI		100	%		122,200		118,000		4,200		0	Kmart	n/a		100.0	%
128	Troy	MI		50	%		402,600		380,900		21,700		0	Sears	Krispy Kreme, Lands’ End, Logan’s Roadhouse		100.0	%
129	Ypsilanti	MI		n/a			99,400		0		99,400		0	n/a	At Home		100.0	%
130	Burnsville	MN		50	%		167,400		161,700		5,700		0	Sears	Lands’ End		100.0	%
131	Detroit Lakes	MN		50	%		87,100		79,100		8,000		0	Kmart	Hometown Dealer		100.0	%
132	Maplewood	MN		50	%		174,900		168,500		6,400		0	Sears	Lands’ End		100.0	%
133	St. Paul	MN		100	%		217,900		216,300		1,600		0	Sears	n/a		100.0	%
134	Cape Girardeau	MO		50	%		82,600		82,600		0		0	Kmart	n/a		100.0	%
135	Florissant	MO		50	%		119,000		114,700		4,300		0	Kmart	n/a		100.0	%
136	Jefferson City	MO		50	%		97,100		92,000		5,100		0	Kmart	Ruby Tuesday		100.0	%

Wholly Owned Properties
						GLA (3)
	City	State	Recapture Rights (1)(2)			Total		Sears Holdings		Third Parties		Vacant		Sears or Kmart	Significant Third-party Tenants (3)	% Leased
137	Springfield	MO		n/a			112,900		0		112,900		0	n/a	At Home		100.0	%
138	Columbus	MS		50	%		166,700		117,100		2,800		46,800	Kmart	Enterprise Leasing Company		71.9	%
139	Havre	MT		50	%		94,700		94,700		0		0	Kmart	n/a		100.0	%
140	Asheville	NC		50	%		240,700		232,400		8,300		0	Sears	Lands’ End		100.0	%
141	Concord	NC		50	%		171,300		137,500		33,800		0	Kmart	Sears Outlet		100.0	%
142	Greensboro	NC		n/a			173,300		0		171,600		1,700	n/a	Floor & Décor, Gabriel Brothers, Sears Outlet		99.0	%
143	Minot	ND		50	%		110,400		108,100		2,300		0	Kmart	US Bank		100.0	%
144	Kearney	NE		50	%		86,500		86,500		0		0	Kmart	n/a		100.0	%
145	Manchester	NH		50	%		144,100		135,100		9,000		0	Sears	Lands’ End		100.0	%
146	Nashua	NH		50	%		167,100		159,500		7,600		0	Sears	Lands’ End		100.0	%
147	Portsmouth	NH		50	%		127,000		120,100		6,900		0	Sears	Lands’ End		100.0	%
148	Salem	NH		50	%		206,500		119,000		87,500		0	Sears	Dick’s Sporting Goods, Lands’ End		100.0	%
149	Middletown	NJ		100	%		191,200		176,100		15,100		0	Sears	Investors Bank, Lands’ End, Wendy’s		100.0	%
150	Watchung	NJ		100	%		262,900		253,900		9,000		0	Sears	Lands’ End		100.0	%
151	Wayne	NJ		50	%		327,400		317,700		9,700		0	Sears	Lands’ End		100.0	%
152	Deming	NM		50	%		96,600		96,600		0		0	Kmart	n/a		100.0	%
153	Farmington	NM		50	%		90,700		90,700		0		0	Kmart	n/a		100.0	%
154	Hobbs	NM		50	%		88,900		88,900		0		0	Kmart	n/a		100.0	%
155	Henderson	NV		50	%		143,900		122,800		21,100		0	Kmart	Sears Outlet		100.0	%
156	Las Vegas	NV		50	%		150,200		150,200		0		0	Sears	n/a		100.0	%
157	Reno	NV		50	%		198,800		198,800		0		0	Sears	n/a		100.0	%
158	Albany	NY		50	%		305,700		264,300		41,400		0	Sears	Lands’ End, Whole Foods		100.0	%
159	Clay	NY		50	%		146,500		138,000		8,500		0	Sears	Lands’ End		100.0	%
160	East Northport	NY		50	%		195,400		187,000		8,400		0	Sears	Lands’ End		100.0	%
161	Hicksville	NY		100	%		362,600		332,100		30,500		0	Sears	Chase Bank, Chipotle Mexican Grill, Citigroup, Lands’ End, Red Lobster, TD Bank		100.0	%
162	Johnson City	NY		50	%		155,100		155,100		0		0	Sears	n/a		100.0	%
163	Olean	NY		50	%		118,000		118,000		0		0	Kmart	n/a		100.0	%
164	Rochester	NY		50	%		128,500		128,500		0		0	Sears	n/a		100.0	%
165	Sidney	NY		50	%		94,400		94,400		0		0	Kmart	n/a		100.0	%
166	Victor	NY		50	%		123,000		115,300		7,700		0	Sears	Lands’ End		100.0	%
167	Yorktown Heights	NY		50	%		160,000		153,700		6,300		0	Sears	Lands’ End		100.0	%
168	Canton	OH		50	%		219,400		210,400		9,000		0	Sears	Lands’ End		100.0	%
169	Chapel Hill	OH		50	%		196,300		187,200		9,100		0	Sears	Lands’ End		100.0	%

Wholly Owned Properties
						GLA (3)
	City	State	Recapture Rights (1)(2)			Total		Sears Holdings		Third Parties		Vacant		Sears or Kmart	Significant Third-party Tenants (3)	% Leased
170	Dayton	OH		50	%		192,500		183,500		9,000		0	Sears	Lands’ End		100.0	%
171	Kenton	OH		50	%		96,100		96,100		0		0	Kmart	n/a		100.0	%
172	Marietta	OH		50	%		87,500		87,500		0		0	Kmart	n/a		100.0	%
173	Mentor	OH		50	%		219,100		208,700		10,400		0	Sears	Lands’ End		100.0	%
174	Middleburg Heights	OH		50	%		359,000		351,600		7,400		0	Sears	Lands’ End		100.0	%
175	North Canton	OH		50	%		87,100		84,200		2,900		0	Kmart	Burger King		100.0	%
176	Tallmadge	OH		50	%		84,200		84,200		0		0	Kmart	n/a		100.0	%
177	Toledo	OH		50	%		218,700		209,900		8,800		0	Sears	Lands’ End		100.0	%
178	Muskogee	OK		50	%		87,500		87,500		0		0	Kmart	n/a		100.0	%
179	Oklahoma City	OK		50	%		173,700		173,700		0		0	Sears	n/a		100.0	%
180	Tulsa	OK		n/a			87,200		0		87,200		0	n/a	Long John Silver’s, Hobby Lobby		100.0	%
181	Happy Valley	OR		50	%		144,300		137,900		6,400		0	Sears	Lands’ End		100.0	%
182	The Dalles	OR		50	%		87,100		87,100		0		0	Kmart	n/a		100.0	%
183	Carlisle	PA		50	%		117,800		117,800		0		0	Kmart	n/a		100.0	%
184	Columbia	PA		50	%		86,700		86,700		0		0	Kmart	n/a		100.0	%
185	King Of Prussia (5)	PA		n/a			210,800		0		205,800		5,000	n/a	Dick’s Sporting Goods, Primark, Outback Steakhouse, Yard House		97.6	%
186	Lebanon	PA		50	%		117,200		117,200		0		0	Kmart	n/a		100.0	%
187	Mount Pleasant	PA		50	%		83,500		83,500		0		0	Kmart	n/a		100.0	%
188	Walnutport	PA		50	%		121,200		121,200		0		0	Kmart	n/a		100.0	%
189	York	PA		50	%		82,000		82,000		0		0	Kmart	n/a		100.0	%
190	Bayamon	PR		50	%		115,200		114,600		600		0	Kmart	n/a		100.0	%
191	Caguas	PR		50	%		138,700		138,700		0		0	Sears	n/a		100.0	%
192	Carolina	PR		50	%		198,000		198,000		0		0	Sears	n/a		100.0	%
193	Guaynabo	PR		50	%		217,300		115,700		89,500		12,100	Kmart	Baskin Robbins, Firstbank, Gamestop, McDonald’s, Ocean Garden Buffet, Payless ShoeSource, Rent-a-Center, Sally Beauty Supply, T-Mobile		94.4	%
194	Mayaguez	PR		50	%		118,200		118,200		0		0	Kmart	n/a		100.0	%
195	Ponce	PR		50	%		126,900		126,900		0		0	Kmart	n/a		100.0	%
196	Warwick	RI		50	%		246,000		216,900		29,100		0	Sears	Chuck E Cheese, Lands’ End, On The Border, Wendy’s		100.0	%
197	Anderson	SC		50	%		118,700		118,700		0		0	Kmart	n/a		100.0	%
198	Charleston	SC		50	%		138,800		132,000		6,800		0	Sears	Carrabba’s Italian Grill		100.0	%
199	Rock Hill	SC		50	%		89,300		89,300		0		0	Kmart	n/a		100.0	%
200	Sioux Falls	SD		50	%		72,500		72,500		0		0	Kmart	n/a		100.0	%
201	Cordova	TN		50	%		160,900		156,100		4,800		0	Sears	Lands’ End		100.0	%
202	Memphis (4)	TN		100	%		202,400		158,500		43,900		0	Sears	Lands’ End, Nordstrom Rack		100.0	%

Wholly Owned Properties
						GLA (3)
	City	State	Recapture Rights (1)(2)			Total		Sears Holdings		Third Parties		Vacant		Sears or Kmart	Significant Third-party Tenants (3)	% Leased
203	Austin	TX		50	%		172,000		172,000		0		0	Sears	n/a		100.0	%
204	Dallas	TX		50	%		205,300		205,300		0		0	Sears	n/a		100.0	%
205	El Paso	TX		50	%		112,100		103,700		8,400		0	Kmart	n/a		100.0	%
206	Friendswood	TX		50	%		166,000		166,000		0		0	Sears	n/a		100.0	%
207	Harlingen	TX		50	%		91,700		91,700		0		0	Kmart	n/a		100.0	%
208	Houston	TX		50	%		218,600		209,500		9,100		0	Sears	Lands’ End, Torchy’s Tacos		100.0	%
209	Houston	TX		n/a			134,000		0		134,000		0	n/a	At Home		100.0	%
210	Ingram	TX		50	%		168,400		168,400		0		0	Sears	n/a		100.0	%
211	Irving	TX		50	%		170,900		79,500		91,400		0	Sears	Pollo Tropical, Taco Cabana, Winco		100.0	%
212	San Antonio (6)	TX		50	%		221,900		210,500		11,400		0	Sears	Long Horn Steakhouse, Orvis		100.0	%
213	Shepherd	TX		50	%		201,700		201,700		0		0	Sears	n/a		100.0	%
214	Valley View	TX		100	%		235,000		229,200		5,800		0	Sears	Jared Galleria of Jewelry		100.0	%
215	Westwood	TX		50	%		215,000		215,000		0		0	Sears	n/a		100.0	%
216	Layton	UT		50	%		166,800		90,000		11,000		65,800	Kmart	Arby’s		60.6	%
217	West Jordan	UT		50	%		205,400		201,100		4,300		0	Sears	Lands’ End		100.0	%
218	Alexandria	VA		50	%		262,100		252,500		9,600		0	Sears	Lands’ End		100.0	%
219	Chesapeake	VA		50	%		169,400		169,400		0		0	Sears	n/a		100.0	%
220	Fairfax	VA		50	%		225,800		214,100		11,700		0	Sears	Lands’ End		100.0	%
221	Hampton	VA		50	%		245,000		245,000		0		0	Sears	n/a		100.0	%
222	Virginia Beach	VA		50	%		200,400		86,900		113,500		0	Sears	BB&T, DSW, The Fresh Market, Nordstrom Rack, REI		100.0	%
223	Warrenton	VA		50	%		121,000		113,900		7,100		0	Sears	Lands’ End		100.0	%
224	Redmond	WA		50	%		274,900		255,900		19,000		0	Sears	Lands’ End, Red Robin, Sprint		100.0	%
225	Vancouver	WA		50	%		129,700		124,900		4,800		0	Sears	Lands’ End		100.0	%
226	Yakima	WA		50	%		117,300		97,300		0		20,000	Kmart	Vacant		82.9	%
227	Greendale	WI		50	%		238,400		238,400		0		0	Sears	n/a		100.0	%
228	Madison	WI		50	%		138,300		130,200		8,100		0	Sears	Lands’ End		100.0	%
229	Platteville	WI		50	%		94,800		94,800		0		0	Kmart	n/a		100.0	%
230	Charleston	WV		50	%		105,600		105,600		0		0	Kmart	n/a		100.0	%
231	Elkins	WV		50	%		99,600		94,900		0		4,700	Kmart	Vacant		95.3	%
232	Scott Depot	WV		50	%		89,800		89,800		0		0	Kmart	n/a		100.0	%
233	Casper	WY		50	%		91,400		91,300		100		0	Kmart	n/a		100.0	%
234	Gillette	WY		50	%		94,600		94,600		0		0	Kmart	n/a		100.0	%
235	Riverton	WY		50	%		94,800		94,800		0		0	Kmart	n/a		100.0	%
	Total - Wholly Owned Properties						37,018,600		33,416,200		3,383,100		219,300				99.4	%

(1) Properties with 50% recapture rights are subject to the Company’s right to recapture approximately 50% of the space within a store (subject to certain exceptions). In addition, the Company has the right to recapture any automotive care centers which are free-standing or attached as “appendages” to the stores and all outparcels or outlots, as well as certain portions of parking areas and common areas. These properties were referred to as “Type II” properties in the Company’s Form S-11 dated June 8, 2015.

(2) In addition to the 50% recapture rights described above, properties with 100% recapture rights are subject to the Company’s right to recapture the entire space within a store for a specified fee. These properties were referred to as “Type I” properties in the Company’s Form S-11 dated June 8, 2015.

(3) Based on signed leases as of December 31, 2015, including SNO leases.

(4) The Company exercised its recapture rights for this property during the period from July 7, 2015 (Date Operations Commenced) through December 31, 2015.

(5) Property is subject to a ground lease.

(6) The Company submitted a recapture notice for this property subsequent to December 31, 2015.

JV Properties
						GLA (2)
	City	State	Recapture Rights (1)			Total		Sears Holdings		Third Parties		Vacant		Sears or Kmart	Third-party Tenants (2)	% Leased
1	Chandler	AZ		50	%		141,600		141,600		0		0	Sears	n/a		100.0	%
2	Glendale	AZ		50	%		125,000		125,000		0		0	Sears	n/a		100.0	%
3	Bakersfield (3)	CA		50	%		204,200		204,200		0		0	Sears	n/a		100.0	%
4	Brea	CA		50	%		168,200		163,800		4,400		0	Sears	Lands’ End		100.0	%
5	Cerritos	CA		50	%		277,600		277,600		0		0	Sears	n/a		100.0	%
6	Modesto	CA		50	%		148,600		148,600		0		0	Sears	n/a		100.0	%
7	Santa Rosa	CA		50	%		165,400		161,600		3,800		0	Sears	Lands’ End		100.0	%
8	Danbury	CT		50	%		178,400		108,400		70,000		0	Sears	Primark		100.0	%
9	Pembroke Pines (3)(4)	FL		50	%		144,200		144,200		0		0	Sears	n/a		100.0	%
10	Oak Brook	IL		50	%		314,000		219,600		94,400		0	Sears	Lands’ End, Pinstripes, Williams-Sonoma		100.0	%
11	Burlington	MA		50	%		271,200		184,800		86,400		0	Sears	Lands’ End, Primark		100.0	%
12	Natick (4)	MA		50	%		190,600		176,200		14,400		0	Sears	Lands’ End		100.0	%
13	Columbia	MD		50	%		149,000		142,000		7,000		0	Sears	Lands’ End		100.0	%
14	Ann Arbor	MI		50	%		170,600		156,400		14,200		0	Sears	Lands’ End		100.0	%
15	Minnetonka	MN		50	%		205,000		199,200		5,800		0	Sears	Lands’ End		100.0	%
16	Deptford	NJ		50	%		191,800		183,800		8,000		0	Sears	Lands’ End		100.0	%
17	Freehold	NJ		50	%		139,400		72,200		67,200		0	Sears	Primark		100.0	%
18	Paramus	NJ		50	%		192,400		177,200		15,200		0	Sears	Lands’ End		100.0	%
19	Toms River	NJ		50	%		109,200		109,200		0		0	Sears	n/a		100.0	%
20	Albuquerque (5)	NM		50	%		166,600		157,600		9,000		0	Sears	n/a		100.0	%
21	Nanuet	NY		50	%		221,400		213,800		7,600		0	Sears	Lands’ End		100.0	%
22	Staten Island (5)	NY		50	%		188,800		82,800		106,000		0	Sears	Lands’ End, Primark		100.0	%
23	Norman (4)	OK		50	%		66,800		66,800		0		0	Sears	n/a		100.0	%
24	Tulsa	OK		50	%		150,200		150,200		0		0	Sears	n/a		100.0	%
25	Portland	OR		50	%		220,000		205,800		14,200		0	Sears	Lands’ End		100.0	%
26	Pittsburgh	PA		50	%		176,600		159,600		17,000		0	Sears	Lands’ End		100.0	%
27	Austin	TX		50	%		164,600		164,600		0		0	Sears	n/a		100.0	%
28	Frisco	TX		50	%		163,000		163,000		0		0	Sears	n/a		100.0	%
29	Lubbock	TX		50	%		150,600		150,600		0		0	Sears	n/a		100.0	%
30	Midland	TX		50	%		116,600		116,600		0		0	Sears	n/a		100.0	%
31	Lynnwood	WA		50	%		177,600		170,600		7,000		0	Sears	Lands’ End		100.0	%
	Total - JV Properties						5,449,200		4,897,600		551,600		0				100.0	%

(1)   Properties with 50% recapture rights are subject to the JV’s right to recapture approximately 50% of the space within a store (subject to certain exceptions). In addition, the JV has the right to recapture any automotive care centers which are free-standing or attached as “appendages” to the stores and all outparcels or outlots, as well as certain portions of parking areas and common areas. (2)   Based on signed leases as of December 31, 2015, including SNO leases. (3)   The JV submitted a recapture notice for this property subsequent to December 31, 2015. (4)   Property is subject to a lease or ground lease agreement. (5)   The JV submitted a recapture notice for this property during the period from July 7, 2015 (Date Operations Commenced) through December 31, 2015.
266	Grand Total - All Properties	42,467,800	38,313,800	3,934,700	219,300	99.5	%
266	Grand Total - All Properties (at share)	39,743,200	35,865,000	3,658,900	219,300	99.4	%

PART IV

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULE

(b) Exhibits.

Exhibit No.	Description
31.1	Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		SERITAGE GROWTH PROPERTIES
Dated:	March 23, 2016	/s/ Benjamin Schall