It appears that billionaire investor Warren Buffett has taken
a stake in Seritage Growth Properties, which is a real estate trust
created by Sears Holdings Corporation. I guess we can add this to his list of
clothing relevant holdings.
Seritage was formed by Sears Holdings in June by spinning off
about 254 Sears and Kmart stores, as part of the struggling retailer's plans to
raise cash.
As per our understanding from previous reading, the REIT,
which now also includes Sears' 50 percent interest in joint ventures with three
mall operators, has leased the stores back to Sears for
operation.
Read more about the Sears
& Seritage REIT arrangement.