Sears To Raise $2.5 Billion By Forming REIT

April 1, 2015 1:07 PM

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Sears To Raise $2.5 Billion By Forming REIT

Sears Holdings Sears Holdings Corp. will raise more than $2.5 billion by siphoning off 254 stores into a real estate investment trust, the struggling retailer said on Wednesday.

The newly formed REIT, Seritage Growth Properties, will buy and lease back the Sears and Kmart stores.

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