Seaport Entertainment Group Inc. 8-K
Research Summary
AI-generated summary
Seaport Entertainment Group Sells 250 Water Street for $143M
What Happened
Seaport Entertainment Group Inc. (SEG) announced it completed the sale of the mixed‑use development at 250 Water Street. On February 6, 2026, SEG’s subsidiary 250 Seaport District, LLC (the Seller) sold the property to 250 Water Street Owner LLC (an affiliate of Tavros Holdings LLC) for $143.0 million. The company issued a press release on February 6 and filed Form 8‑K on February 9, 2026; the press release is attached as Exhibit 99.1. The filing states the buyer has no material relationship with SEG other than this transaction.
Key Details
- Sale completed: February 6, 2026.
- Seller: 250 Seaport District, LLC, a subsidiary of Seaport Entertainment Group.
- Buyer: 250 Water Street Owner LLC, an affiliate of Tavros Holdings LLC.
- Sale price: $143.0 million.
- Disclosure: Press release dated February 6, 2026, was furnished and is included as Exhibit 99.1 in the 8‑K filed February 9, 2026.
Why It Matters
This transaction removes ownership of a major real estate asset from SEG and brings $143.0M in consideration to the company (the filing does not state how proceeds will be used or the accounting/earnings impact). For investors, the key takeaways are a material asset disposition, a likely change to SEG’s real‑estate holdings on the balance sheet, and potential liquidity effects; shareholders should watch subsequent filings or earnings reports for details on how proceeds are allocated and any gain or loss recognized.